GROUP EXCELSIOR: what changed
Two financial 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.
GROUP EXCELSIOR
Largest movements
- Stocks and contracts -€240,312
down €240,312 (-21.7%), from €1.1m to €867,880
- Receivables within one year -€41,245
down €41,245 (-14.8%), from €279,200 to €237,956
of which Trade receivables: -€41,180
- Short-term financial debts -€239,284
down €239,284 (-27.3%), from €877,157 to €637,873
- Reserves -€45,211
down €45,211 (-24.1%), from €187,473 to €142,262
of which Distributable reserves: -€45,211
- Financial charges +€68,172
up €68,172 (+461.4%), from €14,775 to €82,948
- Gross operating margin +€65,011
up €65,011, from -€21,024 to €43,987
- Other operating charges +€7,470
up €7,470 (+144.9%), from €5,155 to €12,625
- Financial income -€5,091
down €5,091 (-44.4%), from €11,466 to €6,375
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 | €1,387,409 | €1,106,733 | -€280,675 | -20.2% |
| Current assets | 29/58 | €1,387,409 | €1,106,733 | -€280,675 | -20.2% |
| Stocks and contracts in progress | 3 | €1,108,192 | €867,880 | -€240,312 | -21.7% |
| Stocks | 30/36 | €1,108,192 | €867,880 | -€240,312 | -21.7% |
| Amounts receivable within one year | 40/41 | €279,200 | €237,956 | -€41,245 | -14.8% |
| Trade receivables | 40 | €42,655 | €1,475 | -€41,180 | -96.5% |
| Other amounts receivable | 41 | €236,546 | €236,481 | -€65 | 0.0% |
| Cash at bank and in hand | 54/58 | €16 | €898 | +€882 | +5440.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,387,409 | €1,106,733 | -€280,675 | -20.2% |
| Equity | 10/15 | €206,065 | €160,854 | -€45,211 | -21.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €187,473 | €142,262 | -€45,211 | -24.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €187,473 | €142,262 | -€45,211 | -24.1% |
| Amounts payable | 17/49 | €1,181,344 | €945,880 | -€235,464 | -19.9% |
| Amounts payable within one year | 42/48 | €1,181,344 | €945,880 | -€235,464 | -19.9% |
| Financial debts | 43 | €877,157 | €637,873 | -€239,284 | -27.3% |
| Credit institutions | 430/8 | €877,157 | €637,873 | -€239,284 | -27.3% |
| Trade debts | 44 | €138 | €138 | = | 0.0% |
| Suppliers | 440/4 | €138 | €138 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €304,049 | €307,869 | +€3,820 | +1.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €5,155 | €12,625 | +€7,470 | +144.9% |
| Gross operating margin | 9900 | -€21,024 | €43,987 | +€65,011 | |
| Operating profit (loss) | 9901 | -€26,179 | €31,362 | +€57,541 | |
| Financial income | 75/76B | €11,466 | €6,375 | -€5,091 | -44.4% |
| Recurring financial income | 75 | €11,466 | €6,375 | -€5,091 | -44.4% |
| Financial charges | 65/66B | €14,775 | €82,948 | +€68,172 | +461.4% |
| Recurring financial charges | 65 | €14,775 | €82,948 | +€68,172 | +461.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,489 | -€45,211 | -€15,722 | -53.3% |
| Profit (loss) for the period | 9904 | -€29,489 | -€45,211 | -€15,722 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,489 | -€45,211 | -€15,722 | -53.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.