EXCA: 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.
EXCA
Largest movements
- Tangible fixed assets +€25,250
up €25,250 (+624%), from €4,044 to €29,294
of which Leasing and similar rights: +€29,294
- Cash -€19,124
down €19,124 (-73.3%), from €26,096 to €6,972
mainly Investment in fixed assets (net) (-€29,601) and Advances received (-€26,057)
- Receivables within one year -€18,099
down €18,099 (-63.8%), from €28,348 to €10,249
of which Other amounts receivable: -€9,448
- Stocks and contracts +€908
up €908 (+39.6%), from €2,292 to €3,200
- Debts after one year +€33,064
new in 2025: €33,064
of which Financial debts: +€21,854
- Advances received -€26,057
down €26,057 (-100%), from €26,057 to €0
- Tax, wage and social debts -€16,511
down €16,511 (-77.5%), from €21,292 to €4,781
of which Taxes: -€16,511
- Current portion of long-term debt +€5,469
new in 2025: €5,469
- Trade debts -€5,379
down €5,379 (-67.3%), from €7,993 to €2,614
- Gross operating margin +€16,652
up €16,652, from -€3,989 to €12,663
- Financial charges +€4,983
up €4,983 (+187%), from €2,663 to €7,646
- Depreciation -€4,031
down €4,031 (-48.1%), from €8,382 to €4,351
- Other operating charges +€2,544
up €2,544 (+324%), from €784 to €3,328
- Financial income -€255
down €255 (-97.7%), from €261 to €6
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 | €60,781 | €50,169 | -€10,612 | -17.5% |
| Fixed assets | 21/28 | €4,044 | €29,294 | +€25,250 | +624% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,044 | €29,294 | +€25,250 | +624% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,044 | €0 | -€4,044 | -100% |
| Leasing and similar rights | 25 | - | €29,294 | +€29,294 | |
| Current assets | 29/58 | €56,737 | €20,874 | -€35,862 | -63.2% |
| Stocks and contracts in progress | 3 | €2,292 | €3,200 | +€908 | +39.6% |
| Stocks | 30/36 | €2,292 | €3,200 | +€908 | +39.6% |
| Amounts receivable within one year | 40/41 | €28,348 | €10,249 | -€18,099 | -63.8% |
| Trade receivables | 40 | €15,900 | €7,249 | -€8,651 | -54.4% |
| Other amounts receivable | 41 | €12,448 | €3,000 | -€9,448 | -75.9% |
| Cash at bank and in hand | 54/58 | €26,096 | €6,972 | -€19,124 | -73.3% |
| Deferred charges and accrued income | 490/1 | €0 | €453 | +€453 | |
| Total equity and liabilities | 10/49 | €60,781 | €50,169 | -€10,612 | -17.5% |
| Equity | 10/15 | €5,246 | €2,590 | -€2,656 | -50.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,754 | -€17,410 | -€2,656 | -18.0% |
| Amounts payable | 17/49 | €55,535 | €47,579 | -€7,956 | -14.3% |
| Amounts payable after more than one year | 17 | - | €33,064 | +€33,064 | |
| Financial debts | 170/4 | - | €21,854 | +€21,854 | |
| Other amounts payable | 178/9 | - | €11,210 | +€11,210 | |
| Amounts payable within one year | 42/48 | €55,342 | €12,864 | -€42,477 | -76.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,469 | +€5,469 | |
| Trade debts | 44 | €7,993 | €2,614 | -€5,379 | -67.3% |
| Suppliers | 440/4 | €7,993 | €2,614 | -€5,379 | -67.3% |
| Advances received on contracts in progress | 46 | €26,057 | €0 | -€26,057 | -100% |
| Taxes, remuneration and social security | 45 | €21,292 | €4,781 | -€16,511 | -77.5% |
| Taxes | 450/3 | €21,292 | €4,781 | -€16,511 | -77.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €193 | €1,651 | +€1,458 | +754% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,382 | €4,351 | -€4,031 | -48.1% |
| Other operating charges | 640/8 | €784 | €3,328 | +€2,544 | +324% |
| Gross operating margin | 9900 | -€3,989 | €12,663 | +€16,652 | |
| Operating profit (loss) | 9901 | -€13,155 | €4,984 | +€18,139 | |
| Financial income | 75/76B | €261 | €6 | -€255 | -97.7% |
| Recurring financial income | 75 | €261 | €6 | -€255 | -97.7% |
| Financial charges | 65/66B | €2,663 | €7,646 | +€4,983 | +187% |
| Recurring financial charges | 65 | €2,663 | €7,646 | +€4,983 | +187% |
| Profit (loss) for the period before taxes | 9903 | -€15,557 | -€2,656 | +€12,901 | +82.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€15,557 | -€2,656 | +€12,901 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,557 | -€2,656 | +€12,901 | +82.9% |
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 28 October 2026 via checked.be.