FinExel: 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.
FinExel
Largest movements
- Cash -€13,064
down €13,064 (-15.4%), from €84,671 to €71,607
mainly Contributions, distributions and other (-€68,524) and Tax, wage and social debts (-€9,525)
- Tangible fixed assets -€1,787
down €1,787 (-53.1%), from €3,363 to €1,577
- Receivables within one year +€1,573
up €1,573 (+15.4%), from €10,225 to €11,798
- Tax, wage and social debts -€9,525
down €9,525 (-43.3%), from €21,976 to €12,451
- Other debts -€3,551
down €3,551 (-4.6%), from €76,406 to €72,855
- Gross operating margin -€8,485
down €8,485 (-8.2%), from €103,406 to €94,921
- Taxes -€2,425
down €2,425 (-9.1%), from €26,518 to €24,092
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 | €99,688 | €86,498 | -€13,190 | -13.2% |
| Fixed assets | 21/28 | €4,363 | €2,777 | -€1,587 | -36.4% |
| Tangible fixed assets | 22/27 | €3,363 | €1,577 | -€1,787 | -53.1% |
| Furniture and vehicles | 24 | €3,363 | €1,577 | -€1,787 | -53.1% |
| Financial fixed assets | 28 | €1,000 | €1,200 | +€200 | +20.0% |
| Current assets | 29/58 | €95,324 | €83,721 | -€11,603 | -12.2% |
| Amounts receivable within one year | 40/41 | €10,225 | €11,798 | +€1,573 | +15.4% |
| Trade receivables | 40 | €10,225 | €11,798 | +€1,573 | +15.4% |
| Cash at bank and in hand | 54/58 | €84,671 | €71,607 | -€13,064 | -15.4% |
| Deferred charges and accrued income | 490/1 | €429 | €317 | -€112 | -26.2% |
| Total equity and liabilities | 10/49 | €99,688 | €86,498 | -€13,190 | -13.2% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable | 17/49 | €98,688 | €85,498 | -€13,190 | -13.4% |
| Amounts payable within one year | 42/48 | €98,688 | €85,498 | -€13,190 | -13.4% |
| Trade debts | 44 | €306 | €192 | -€114 | -37.3% |
| Suppliers | 440/4 | €306 | €192 | -€114 | -37.3% |
| Taxes, remuneration and social security | 45 | €21,976 | €12,451 | -€9,525 | -43.3% |
| Taxes | 450/3 | €21,976 | €12,451 | -€9,525 | -43.3% |
| Other amounts payable | 47/48 | €76,406 | €72,855 | -€3,551 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,787 | €1,787 | -€0 | 0.0% |
| Other operating charges | 640/8 | €438 | €388 | -€50 | -11.4% |
| Gross operating margin | 9900 | €103,406 | €94,921 | -€8,485 | -8.2% |
| Operating profit (loss) | 9901 | €101,182 | €92,747 | -€8,435 | -8.3% |
| Financial income | 75/76B | €592 | €0 | -€592 | -100.0% |
| Recurring financial income | 75 | €592 | €0 | -€592 | -100.0% |
| Financial charges | 65/66B | €123 | €131 | +€8 | +6.4% |
| Recurring financial charges | 65 | €123 | €131 | +€8 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €101,651 | €92,616 | -€9,035 | -8.9% |
| Income taxes | 67/77 | €26,518 | €24,092 | -€2,425 | -9.1% |
| Profit (loss) for the period | 9904 | €75,133 | €68,524 | -€6,609 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,133 | €68,524 | -€6,609 | -8.8% |
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 1 October 2026 via checked.be.