L’Excellence Group: 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.
L’Excellence Group
Largest movements
- Receivables within one year +€20,009
up €20,009 (+1,993%), from €1,004 to €21,013
of which Other amounts receivable: +€19,879
- Tangible fixed assets +€10,210
up €10,210 (+123%), from €8,293 to €18,504
of which Plant, machinery and equipment: +€7,562
- Profit (loss) carried forward +€18,837
up €18,837, from -€14,556 to €4,281
- Tax, wage and social debts +€4,966
up €4,966 (+21.3%), from €23,367 to €28,333
- Other debts +€4,953
new in 2025: €4,953
- Trade debts +€888
up €888 (+5.3%), from €16,665 to €17,553
- Accrued charges and deferred income +€723
up €723 (+19.5%), from €3,713 to €4,436
- Gross operating margin +€8,577
up €8,577 (+39.3%), from €21,823 to €30,399
- Other operating charges -€5,410
down €5,410 (-74.8%), from €7,228 to €1,818
- Depreciation +€4,102
up €4,102 (+267%), from €1,538 to €5,640
- Taxes +€2,682
up €2,682 (+1,788%), from €150 to €2,832
- Financial income +€539
new in 2025: €539
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.
Derived cash bridge
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 | €39,189 | €69,555 | +€30,366 | +77.5% |
| Fixed assets | 21/28 | €35,293 | €45,504 | +€10,210 | +28.9% |
| Tangible fixed assets | 22/27 | €8,293 | €18,504 | +€10,210 | +123% |
| Plant, machinery and equipment | 23 | - | €7,562 | +€7,562 | |
| Furniture and vehicles | 24 | €164 | €4,463 | +€4,299 | +2,618% |
| Other tangible fixed assets | 26 | €8,129 | €6,479 | -€1,650 | -20.3% |
| Financial fixed assets | 28 | €27,000 | €27,000 | = | 0.0% |
| Current assets | 29/58 | €3,896 | €24,052 | +€20,156 | +517% |
| Amounts receivable within one year | 40/41 | €1,004 | €21,013 | +€20,009 | +1,993% |
| Trade receivables | 40 | €1,004 | €1,134 | +€130 | +13.0% |
| Other amounts receivable | 41 | - | €19,879 | +€19,879 | |
| Cash at bank and in hand | 54/58 | €2,444 | €2,966 | +€521 | +21.3% |
| Deferred charges and accrued income | 490/1 | €447 | €73 | -€374 | -83.7% |
| Total equity and liabilities | 10/49 | €39,189 | €69,555 | +€30,366 | +77.5% |
| Equity | 10/15 | -€4,556 | €14,281 | +€18,837 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,556 | €4,281 | +€18,837 | |
| Amounts payable | 17/49 | €43,745 | €55,274 | +€11,529 | +26.4% |
| Amounts payable within one year | 42/48 | €40,032 | €50,838 | +€10,806 | +27.0% |
| Trade debts | 44 | €16,665 | €17,553 | +€888 | +5.3% |
| Suppliers | 440/4 | €16,665 | €17,553 | +€888 | +5.3% |
| Taxes, remuneration and social security | 45 | €23,367 | €28,333 | +€4,966 | +21.3% |
| Taxes | 450/3 | €23,367 | €28,333 | +€4,966 | +21.3% |
| Other amounts payable | 47/48 | - | €4,953 | +€4,953 | |
| Accrued charges and deferred income | 492/3 | €3,713 | €4,436 | +€723 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,538 | €5,640 | +€4,102 | +267% |
| Other operating charges | 640/8 | €7,228 | €1,818 | -€5,410 | -74.8% |
| Gross operating margin | 9900 | €21,823 | €30,399 | +€8,577 | +39.3% |
| Operating profit (loss) | 9901 | €13,057 | €22,941 | +€9,884 | +75.7% |
| Financial income | 75/76B | - | €539 | +€539 | |
| Recurring financial income | 75 | - | €539 | +€539 | |
| Financial charges | 65/66B | €1,510 | €1,811 | +€301 | +19.9% |
| Recurring financial charges | 65 | €1,510 | €1,811 | +€301 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €11,547 | €21,669 | +€10,122 | +87.7% |
| Income taxes | 67/77 | €150 | €2,832 | +€2,682 | +1,788% |
| Profit (loss) for the period | 9904 | €11,397 | €18,837 | +€7,440 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,397 | €18,837 | +€7,440 | +65.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.