Xcelleron: 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.
Xcelleron
Largest movements
- Cash +€263,402
up €263,402 (+209.2%), from €125,897 to €389,299
mainly Net result for the year (+€206,460) and Tax, wage and social debts (+€75,557)
- Receivables within one year +€18,226
up €18,226 (+88.0%), from €20,714 to €38,940
- Reserves +€205,627
up €205,627 (+203.8%), from €100,874 to €306,501
- Tax, wage and social debts +€75,557
up €75,557 (+188.9%), from €40,007 to €115,564
of which Taxes: +€75,557
- Gross operating margin +€168,669
up €168,669 (+131.5%), from €128,262 to €296,932
- Taxes +€63,154
up €63,154 (+241.0%), from €26,205 to €89,359
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 | €147,314 | €430,231 | +€282,918 | +192.1% |
| Fixed assets | 21/28 | - | €1,343 | +€1,343 | |
| Tangible fixed assets | 22/27 | - | €1,343 | +€1,343 | |
| Furniture and vehicles | 24 | - | €1,343 | +€1,343 | |
| Current assets | 29/58 | €147,314 | €428,889 | +€281,575 | +191.1% |
| Amounts receivable within one year | 40/41 | €20,714 | €38,940 | +€18,226 | +88.0% |
| Trade receivables | 40 | €20,714 | €38,940 | +€18,226 | +88.0% |
| Cash at bank and in hand | 54/58 | €125,897 | €389,299 | +€263,402 | +209.2% |
| Deferred charges and accrued income | 490/1 | €703 | €650 | -€53 | -7.5% |
| Total equity and liabilities | 10/49 | €147,314 | €430,231 | +€282,918 | +192.1% |
| Equity | 10/15 | €100,974 | €306,601 | +€205,627 | +203.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €100,874 | €306,501 | +€205,627 | +203.8% |
| Distributable reserves | 133 | €100,874 | €306,501 | +€205,627 | +203.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,340 | €123,630 | +€77,291 | +166.8% |
| Amounts payable within one year | 42/48 | €46,340 | €123,202 | +€76,862 | +165.9% |
| Trade debts | 44 | €199 | €199 | -€1 | -0.3% |
| Suppliers | 440/4 | €199 | €199 | -€1 | -0.3% |
| Taxes, remuneration and social security | 45 | €40,007 | €115,564 | +€75,557 | +188.9% |
| Taxes | 450/3 | €38,007 | €113,564 | +€75,557 | +198.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €6,133 | €7,439 | +€1,306 | +21.3% |
| Accrued charges and deferred income | 492/3 | - | €429 | +€429 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €135 | +€135 | |
| Other operating charges | 640/8 | €350 | €521 | +€172 | +49.1% |
| Gross operating margin | 9900 | €128,262 | €296,932 | +€168,669 | +131.5% |
| Operating profit (loss) | 9901 | €127,912 | €296,275 | +€168,363 | +131.6% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | -€0 | €478 | +€478 | |
| Recurring financial charges | 65 | -€0 | €478 | +€478 | |
| Profit (loss) for the period before taxes | 9903 | €127,912 | €295,818 | +€167,906 | +131.3% |
| Income taxes | 67/77 | €26,205 | €89,359 | +€63,154 | +241.0% |
| Profit (loss) for the period | 9904 | €101,707 | €206,460 | +€104,752 | +103.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,707 | €206,460 | +€104,752 | +103.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.