IXO FACTO: 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.
IXO FACTO
Largest movements
- Formation expenses -€523,052
no longer reported in 2025 (was €523,052)
- Intangible fixed assets +€397,141
up €397,141 (+169%), from €235,175 to €632,317
- Receivables within one year -€38,112
down €38,112 (-16.2%), from €235,712 to €197,600
of which Trade receivables: -€42,075
- Current investments -€35,728
no longer reported in 2025 (was €35,728)
- Tangible fixed assets +€27,900
up €27,900 (+47.5%), from €58,702 to €86,601
of which Plant, machinery and equipment: +€31,515
- Tax, wage and social debts -€107,739
down €107,739 (-47.8%), from €225,381 to €117,642
of which Taxes: -€94,816
- Debts after one year -€107,304
down €107,304 (-22.7%), from €473,325 to €366,021
of which Financial debts: -€109,906
- Profit (loss) carried forward +€49,641
up €49,641 (+17.9%), from €277,600 to €327,242
- Gross operating margin +€237,551
up €237,551 (+31.5%), from €754,137 to €991,688
- Staff costs +€172,444
up €172,444 (+86.2%), from €199,935 to €372,378
- Write-downs +€62,768
up €62,768, from -€47,817 to €14,951
- Other operating charges -€31,317
down €31,317 (-78.3%), from €39,979 to €8,663
- Depreciation +€22,205
up €22,205 (+18.1%), from €122,426 to €144,631
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 | €1,287,520 | €1,110,636 | -€176,883 | -13.7% |
| Formation expenses | 20 | €523,052 | - | -€523,052 | |
| Fixed assets | 21/28 | €304,224 | €729,265 | +€425,041 | +140% |
| Intangible fixed assets | 21 | €235,175 | €632,317 | +€397,141 | +169% |
| Tangible fixed assets | 22/27 | €58,702 | €86,601 | +€27,900 | +47.5% |
| Plant, machinery and equipment | 23 | €8,493 | €40,008 | +€31,515 | +371% |
| Furniture and vehicles | 24 | €42,462 | €40,485 | -€1,977 | -4.7% |
| Other tangible fixed assets | 26 | €7,746 | €6,109 | -€1,638 | -21.1% |
| Financial fixed assets | 28 | €10,348 | €10,348 | = | 0.0% |
| Current assets | 29/58 | €460,243 | €381,371 | -€78,872 | -17.1% |
| Amounts receivable after more than one year | 29 | €2,000 | - | -€2,000 | |
| Trade receivables | 290 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €235,712 | €197,600 | -€38,112 | -16.2% |
| Trade receivables | 40 | €225,712 | €183,637 | -€42,075 | -18.6% |
| Other amounts receivable | 41 | €10,000 | €13,963 | +€3,963 | +39.6% |
| Current investments | 50/53 | €35,728 | - | -€35,728 | |
| Cash at bank and in hand | 54/58 | €185,766 | €180,357 | -€5,408 | -2.9% |
| Deferred charges and accrued income | 490/1 | €1,037 | €3,413 | +€2,376 | +229% |
| Total equity and liabilities | 10/49 | €1,287,520 | €1,110,636 | -€176,883 | -13.7% |
| Equity | 10/15 | €280,600 | €330,242 | +€49,641 | +17.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €277,600 | €327,242 | +€49,641 | +17.9% |
| Amounts payable | 17/49 | €1,006,919 | €780,395 | -€226,525 | -22.5% |
| Amounts payable after more than one year | 17 | €473,325 | €366,021 | -€107,304 | -22.7% |
| Financial debts | 170/4 | €473,325 | €363,419 | -€109,906 | -23.2% |
| Other amounts payable | 178/9 | - | €2,603 | +€2,603 | |
| Amounts payable within one year | 42/48 | €529,989 | €402,006 | -€127,983 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €165,635 | €159,744 | -€5,892 | -3.6% |
| Trade debts | 44 | €127,129 | €124,620 | -€2,508 | -2.0% |
| Suppliers | 440/4 | €127,129 | €124,620 | -€2,508 | -2.0% |
| Taxes, remuneration and social security | 45 | €225,381 | €117,642 | -€107,739 | -47.8% |
| Taxes | 450/3 | €181,817 | €87,001 | -€94,816 | -52.1% |
| Remuneration and social security | 454/9 | €43,564 | €30,640 | -€12,923 | -29.7% |
| Other amounts payable | 47/48 | €11,844 | - | -€11,844 | |
| Accrued charges and deferred income | 492/3 | €3,605 | €12,367 | +€8,762 | +243% |
| Non-recurring operating income | 76A | - | €1,914 | +€1,914 | |
| Remuneration, social security and pensions | 62 | €199,935 | €372,378 | +€172,444 | +86.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,426 | €144,631 | +€22,205 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€47,817 | €14,951 | +€62,768 | |
| Other operating charges | 640/8 | €39,979 | €8,663 | -€31,317 | -78.3% |
| Non-recurring operating charges | 66A | - | €138,500 | +€138,500 | |
| Gross operating margin | 9900 | €754,137 | €991,688 | +€237,551 | +31.5% |
| Operating profit (loss) | 9901 | €439,614 | €312,565 | -€127,049 | -28.9% |
| Financial income | 75/76B | €9,891 | €15,775 | +€5,884 | +59.5% |
| Recurring financial income | 75 | €9,891 | €15,775 | +€5,884 | +59.5% |
| Financial charges | 65/66B | €24,594 | €18,415 | -€6,179 | -25.1% |
| Recurring financial charges | 65 | €23,094 | €18,415 | -€4,679 | -20.3% |
| Non-recurring financial charges | 66B | €1,500 | - | -€1,500 | |
| Profit (loss) for the period before taxes | 9903 | €424,911 | €309,925 | -€114,986 | -27.1% |
| Income taxes | 67/77 | €70,845 | €67,584 | -€3,260 | -4.6% |
| Profit (loss) for the period | 9904 | €354,066 | €242,341 | -€111,725 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €354,066 | €242,341 | -€111,725 | -31.6% |
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 24 October 2026 via checked.be.