EXZO: 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.
EXZO
Largest movements
- Current investments -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Cash +€354,946
up €354,946 (+204.9%), from €173,191 to €528,137
mainly Current investments (+€400,000) and Net result for the year (+€226,345)
- Stocks and contracts +€136,756
up €136,756 (+14.0%), from €978,209 to €1.1m
- Receivables within one year -€86,604
down €86,604 (-54.6%), from €158,526 to €71,922
of which Trade receivables: -€85,970
- Tangible fixed assets -€48,173
down €48,173 (-28.3%), from €170,465 to €122,293
- Trade debts -€106,330
down €106,330 (-37.8%), from €281,384 to €175,053
- Reserves +€79,000
up €79,000 (+5.6%), from €1.4m to €1.5m
- Debts after one year -€19,115
down €19,115 (-58.7%), from €32,572 to €13,457
- Gross operating margin +€167,353
up €167,353 (+20.3%), from €823,211 to €990,564
- Staff costs +€74,484
up €74,484 (+14.5%), from €513,978 to €588,462
- Taxes +€28,223
up €28,223 (+57.0%), from €49,475 to €77,698
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 | €1,903,930 | €1,852,916 | -€51,014 | -2.7% |
| Fixed assets | 21/28 | €193,865 | €137,893 | -€55,973 | -28.9% |
| Intangible fixed assets | 21 | €23,400 | €15,600 | -€7,800 | -33.3% |
| Tangible fixed assets | 22/27 | €170,465 | €122,293 | -€48,173 | -28.3% |
| Land and buildings | 22 | €59,194 | €43,155 | -€16,039 | -27.1% |
| Plant, machinery and equipment | 23 | €36,292 | €35,063 | -€1,229 | -3.4% |
| Furniture and vehicles | 24 | €44,968 | €26,949 | -€18,020 | -40.1% |
| Leasing and similar rights | 25 | €30,011 | €17,126 | -€12,885 | -42.9% |
| Current assets | 29/58 | €1,710,065 | €1,715,024 | +€4,959 | +0.3% |
| Stocks and contracts in progress | 3 | €978,209 | €1,114,965 | +€136,756 | +14.0% |
| Stocks | 30/36 | €978,209 | €1,114,965 | +€136,756 | +14.0% |
| Amounts receivable within one year | 40/41 | €158,526 | €71,922 | -€86,604 | -54.6% |
| Trade receivables | 40 | €130,558 | €44,589 | -€85,970 | -65.8% |
| Other amounts receivable | 41 | €27,968 | €27,334 | -€634 | -2.3% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €173,191 | €528,137 | +€354,946 | +204.9% |
| Deferred charges and accrued income | 490/1 | €139 | €0 | -€139 | -100.0% |
| Total equity and liabilities | 10/49 | €1,903,930 | €1,852,916 | -€51,014 | -2.7% |
| Equity | 10/15 | €1,442,675 | €1,519,020 | +€76,345 | +5.3% |
| Contributions | 10/11 | €24,390 | €24,390 | = | 0.0% |
| Reserves | 13 | €1,415,000 | €1,494,000 | +€79,000 | +5.6% |
| Distributable reserves | 133 | €1,415,000 | €1,494,000 | +€79,000 | +5.6% |
| Profit (loss) carried forward | 14 | €3,285 | €630 | -€2,655 | -80.8% |
| Amounts payable | 17/49 | €461,255 | €333,897 | -€127,359 | -27.6% |
| Amounts payable after more than one year | 17 | €32,572 | €13,457 | -€19,115 | -58.7% |
| Financial debts | 170/4 | €32,572 | €13,457 | -€19,115 | -58.7% |
| Amounts payable within one year | 42/48 | €428,683 | €320,440 | -€108,244 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €23,339 | €19,115 | -€4,224 | -18.1% |
| Trade debts | 44 | €281,384 | €175,053 | -€106,330 | -37.8% |
| Suppliers | 440/4 | €281,384 | €175,053 | -€106,330 | -37.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €123,960 | €126,271 | +€2,311 | +1.9% |
| Taxes | 450/3 | €53,523 | €57,097 | +€3,574 | +6.7% |
| Remuneration and social security | 454/9 | €70,438 | €69,175 | -€1,263 | -1.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €513,978 | €588,462 | +€74,484 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,221 | €74,739 | -€2,482 | -3.2% |
| Other operating charges | 640/8 | €23,449 | €24,276 | +€827 | +3.5% |
| Gross operating margin | 9900 | €823,211 | €990,564 | +€167,353 | +20.3% |
| Operating profit (loss) | 9901 | €208,562 | €303,086 | +€94,524 | +45.3% |
| Financial income | 75/76B | €12,411 | €17,558 | +€5,147 | +41.5% |
| Recurring financial income | 75 | €12,411 | €17,558 | +€5,147 | +41.5% |
| Financial charges | 65/66B | €8,711 | €16,601 | +€7,891 | +90.6% |
| Recurring financial charges | 65 | €8,711 | €16,601 | +€7,891 | +90.6% |
| Profit (loss) for the period before taxes | 9903 | €212,263 | €304,043 | +€91,780 | +43.2% |
| Income taxes | 67/77 | €49,475 | €77,698 | +€28,223 | +57.0% |
| Profit (loss) for the period | 9904 | €162,788 | €226,345 | +€63,557 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €162,788 | €226,345 | +€63,557 | +39.0% |
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 3 October 2026 via checked.be.