Exxes: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Exxes
Largest movements
- Current investments +€2.6m
new in 2025: €2.6m
- Cash -€1.8m
down €1.8m (-95.6%), from €1.8m to €81,039
mainly Current investments (-€2.6m) and Contributions, distributions and other (-€490,000)
- Receivables within one year -€509,621
down €509,621 (-55.3%), from €921,390 to €411,768
of which Other amounts receivable: -€459,802
- Tangible fixed assets -€292,071
down €292,071 (-4.9%), from €6.0m to €5.7m
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€55,094
up €55,094 (+5.8%), from €944,566 to €999,660
- Taxes +€12,476
up €12,476 (+7.8%), from €160,582 to €173,057
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,097,737 | €10,129,767 | +€32,030 | +0.3% |
| Fixed assets | 21/28 | €5,986,976 | €5,694,905 | -€292,071 | -4.9% |
| Tangible fixed assets | 22/27 | €5,986,976 | €5,694,905 | -€292,071 | -4.9% |
| Land and buildings | 22 | €5,986,976 | €5,694,905 | -€292,071 | -4.9% |
| Current assets | 29/58 | €4,110,761 | €4,434,862 | +€324,102 | +7.9% |
| Amounts receivable after more than one year | 29 | €1,282,111 | €1,320,678 | +€38,567 | +3.0% |
| Other amounts receivable | 291 | €1,282,111 | €1,320,678 | +€38,567 | +3.0% |
| Amounts receivable within one year | 40/41 | €921,390 | €411,768 | -€509,621 | -55.3% |
| Trade receivables | 40 | €55,606 | €5,787 | -€49,819 | -89.6% |
| Other amounts receivable | 41 | €865,783 | €405,981 | -€459,802 | -53.1% |
| Current investments | 50/53 | - | €2,550,000 | +€2.6m | |
| Cash at bank and in hand | 54/58 | €1,838,720 | €81,039 | -€1.8m | -95.6% |
| Deferred charges and accrued income | 490/1 | €68,540 | €71,377 | +€2,837 | +4.1% |
| Total equity and liabilities | 10/49 | €10,097,737 | €10,129,767 | +€32,030 | +0.3% |
| Equity | 10/15 | €9,509,315 | €9,538,854 | +€29,538 | +0.3% |
| Contributions | 10/11 | €9,400,000 | €9,400,000 | = | 0.0% |
| Capital | 10 | €9,400,000 | €9,400,000 | = | 0.0% |
| Issued capital | 100 | €9,400,000 | €9,400,000 | = | 0.0% |
| Reserves | 13 | €109,315 | €138,000 | +€28,685 | +26.2% |
| Non-distributable reserves | 130/1 | €108,026 | €134,003 | +€25,977 | +24.0% |
| Legal reserve | 130 | €108,026 | €134,003 | +€25,977 | +24.0% |
| Distributable reserves | 133 | €1,289 | €3,997 | +€2,708 | +210.0% |
| Profit (loss) carried forward | 14 | - | €854 | +€854 | |
| Amounts payable | 17/49 | €588,421 | €590,914 | +€2,492 | +0.4% |
| Amounts payable within one year | 42/48 | €570,186 | €588,457 | +€18,271 | +3.2% |
| Trade debts | 44 | €3,990 | €13,365 | +€9,375 | +235.0% |
| Suppliers | 440/4 | €3,990 | €13,365 | +€9,375 | +235.0% |
| Taxes, remuneration and social security | 45 | €76,196 | €85,092 | +€8,895 | +11.7% |
| Taxes | 450/3 | €76,196 | €85,092 | +€8,895 | +11.7% |
| Other amounts payable | 47/48 | €490,000 | €490,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,235 | €2,457 | -€15,778 | -86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €321,554 | €319,557 | -€1,997 | -0.6% |
| Other operating charges | 640/8 | €73,969 | €76,237 | +€2,269 | +3.1% |
| Gross operating margin | 9900 | €944,566 | €999,660 | +€55,094 | +5.8% |
| Operating profit (loss) | 9901 | €549,043 | €603,866 | +€54,823 | +10.0% |
| Financial income | 75/76B | €87,815 | €89,139 | +€1,324 | +1.5% |
| Recurring financial income | 75 | €87,815 | €89,139 | +€1,324 | +1.5% |
| Financial charges | 65/66B | €153 | €409 | +€256 | +166.8% |
| Recurring financial charges | 65 | €153 | €409 | +€256 | +166.8% |
| Profit (loss) for the period before taxes | 9903 | €636,704 | €692,595 | +€55,891 | +8.8% |
| Income taxes | 67/77 | €160,582 | €173,057 | +€12,476 | +7.8% |
| Profit (loss) for the period | 9904 | €476,123 | €519,538 | +€43,415 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €476,123 | €519,538 | +€43,415 | +9.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.