XCELLENCE4U: 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.
XCELLENCE4U
Largest movements
- Tangible fixed assets -€19,921
down €19,921 (-22.7%), from €87,627 to €67,706
of which Plant, machinery and equipment: -€15,037
- Deferred charges and accrued income -€4,608
down €4,608 (-79.7%), from €5,780 to €1,172
- Receivables within one year +€4,209
up €4,209 (+1.6%), from €256,499 to €260,708
of which Other amounts receivable: +€26,572
- Advances received -€24,714
no longer reported in 2025 (was €24,714)
- Reserves +€11,240
up €11,240 (+4.7%), from €241,079 to €252,319
- Tax, wage and social debts +€7,120
up €7,120 (+183.5%), from €3,880 to €11,000
- Short-term financial debts -€6,715
down €6,715 (-18.4%), from €36,457 to €29,741
- Debts after one year -€5,833
no longer reported in 2025 (was €5,833)
- Gross operating margin -€15,446
down €15,446 (-32.4%), from €47,705 to €32,259
- Taxes -€5,816
down €5,816 (-49.1%), from €11,841 to €6,025
- Depreciation +€3,045
up €3,045 (+14.1%), from €21,644 to €24,689
- Financial charges -€2,779
down €2,779 (-50.7%), from €5,481 to €2,702
- Other operating charges -€2,243
down €2,243 (-85.3%), from €2,630 to €387
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €350,498 | €330,179 | -€20,320 | -5.8% |
| Fixed assets | 21/28 | €88,220 | €68,299 | -€19,921 | -22.6% |
| Tangible fixed assets | 22/27 | €87,627 | €67,706 | -€19,921 | -22.7% |
| Plant, machinery and equipment | 23 | €64,100 | €49,063 | -€15,037 | -23.5% |
| Furniture and vehicles | 24 | €3,836 | €3,484 | -€353 | -9.2% |
| Other tangible fixed assets | 26 | €19,690 | €15,159 | -€4,531 | -23.0% |
| Financial fixed assets | 28 | €593 | €593 | = | 0.0% |
| Current assets | 29/58 | €262,279 | €261,880 | -€399 | -0.2% |
| Amounts receivable within one year | 40/41 | €256,499 | €260,708 | +€4,209 | +1.6% |
| Trade receivables | 40 | €29,679 | €7,317 | -€22,362 | -75.3% |
| Other amounts receivable | 41 | €226,820 | €253,391 | +€26,572 | +11.7% |
| Deferred charges and accrued income | 490/1 | €5,780 | €1,172 | -€4,608 | -79.7% |
| Total equity and liabilities | 10/49 | €350,498 | €330,179 | -€20,320 | -5.8% |
| Equity | 10/15 | €247,279 | €258,519 | +€11,240 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €241,079 | €252,319 | +€11,240 | +4.7% |
| Distributable reserves | 133 | €241,079 | €252,319 | +€11,240 | +4.7% |
| Amounts payable | 17/49 | €103,220 | €71,660 | -€31,560 | -30.6% |
| Amounts payable after more than one year | 17 | €5,833 | - | -€5,833 | |
| Financial debts | 170/4 | €5,833 | - | -€5,833 | |
| Amounts payable within one year | 42/48 | €97,387 | €71,660 | -€25,727 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €6,903 | €5,833 | -€1,070 | -15.5% |
| Financial debts | 43 | €36,457 | €29,741 | -€6,715 | -18.4% |
| Credit institutions | 430/8 | €36,457 | €29,741 | -€6,715 | -18.4% |
| Trade debts | 44 | €25,432 | €25,085 | -€347 | -1.4% |
| Suppliers | 440/4 | €25,432 | €25,085 | -€347 | -1.4% |
| Advances received on contracts in progress | 46 | €24,714 | - | -€24,714 | |
| Taxes, remuneration and social security | 45 | €3,880 | €11,000 | +€7,120 | +183.5% |
| Taxes | 450/3 | €3,880 | €11,000 | +€7,120 | +183.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,644 | €24,689 | +€3,045 | +14.1% |
| Other operating charges | 640/8 | €2,630 | €387 | -€2,243 | -85.3% |
| Gross operating margin | 9900 | €47,705 | €32,259 | -€15,446 | -32.4% |
| Operating profit (loss) | 9901 | €23,432 | €7,183 | -€16,249 | -69.3% |
| Financial income | 75/76B | €13,381 | €12,784 | -€596 | -4.5% |
| Recurring financial income | 75 | €13,381 | €12,784 | -€596 | -4.5% |
| Financial charges | 65/66B | €5,481 | €2,702 | -€2,779 | -50.7% |
| Recurring financial charges | 65 | €5,481 | €2,702 | -€2,779 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €31,331 | €17,265 | -€14,066 | -44.9% |
| Income taxes | 67/77 | €11,841 | €6,025 | -€5,816 | -49.1% |
| Profit (loss) for the period | 9904 | €19,490 | €11,240 | -€8,250 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,490 | €11,240 | -€8,250 | -42.3% |
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 5 October 2026 via checked.be.