NXL: 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.
NXL
Largest movements
- Stocks and contracts +€67,659
new in 2025: €67,659
- Cash +€53,618
up €53,618 (+332.0%), from €16,150 to €69,768
mainly Net result for the year (+€116,052) and Tax, wage and social debts (+€10,594)
- Receivables within one year +€6,997
up €6,997 (+35.5%), from €19,726 to €26,723
of which Trade receivables: +€5,796
- Deferred charges and accrued income +€5,532
up €5,532 (+2399.9%), from €231 to €5,763
- Profit (loss) carried forward +€116,052
up €116,052 (+653.6%), from €17,757 to €133,809
- Tax, wage and social debts +€10,594
up €10,594 (+106.5%), from €9,944 to €20,538
of which Taxes: +€5,823
- Accrued charges and deferred income +€4,106
up €4,106 (+237.8%), from €1,727 to €5,833
- Other debts +€3,652
up €3,652 (+321.0%), from €1,138 to €4,789
- Gross operating margin +€170,066
up €170,066 (+737.9%), from €23,048 to €193,114
- Staff costs +€39,351
new in 2025: €39,351
- Taxes +€28,138
up €28,138 (+603.8%), from €4,660 to €32,799
- Financial charges +€2,871
up €2,871 (+4101.1%), from €70 to €2,941
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 | €37,996 | €171,390 | +€133,393 | +351.1% |
| Formation expenses | 20 | €1,890 | €1,477 | -€413 | -21.8% |
| Current assets | 29/58 | €36,106 | €169,912 | +€133,806 | +370.6% |
| Stocks and contracts in progress | 3 | - | €67,659 | +€67,659 | |
| Contracts in progress | 37 | - | €67,659 | +€67,659 | |
| Amounts receivable within one year | 40/41 | €19,726 | €26,723 | +€6,997 | +35.5% |
| Trade receivables | 40 | €17,886 | €23,682 | +€5,796 | +32.4% |
| Other amounts receivable | 41 | €1,840 | €3,041 | +€1,201 | +65.3% |
| Cash at bank and in hand | 54/58 | €16,150 | €69,768 | +€53,618 | +332.0% |
| Deferred charges and accrued income | 490/1 | €231 | €5,763 | +€5,532 | +2399.9% |
| Total equity and liabilities | 10/49 | €37,996 | €171,390 | +€133,393 | +351.1% |
| Equity | 10/15 | €20,757 | €136,809 | +€116,052 | +559.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,757 | €133,809 | +€116,052 | +653.6% |
| Amounts payable | 17/49 | €17,239 | €34,581 | +€17,341 | +100.6% |
| Amounts payable within one year | 42/48 | €15,512 | €28,748 | +€13,235 | +85.3% |
| Trade debts | 44 | €4,431 | €3,420 | -€1,011 | -22.8% |
| Suppliers | 440/4 | €4,431 | €3,420 | -€1,011 | -22.8% |
| Taxes, remuneration and social security | 45 | €9,944 | €20,538 | +€10,594 | +106.5% |
| Taxes | 450/3 | €7,364 | €13,187 | +€5,823 | +79.1% |
| Remuneration and social security | 454/9 | €2,580 | €7,351 | +€4,771 | +185.0% |
| Other amounts payable | 47/48 | €1,138 | €4,789 | +€3,652 | +321.0% |
| Accrued charges and deferred income | 492/3 | €1,727 | €5,833 | +€4,106 | +237.8% |
| Remuneration, social security and pensions | 62 | - | €39,351 | +€39,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174 | €413 | +€239 | +137.0% |
| Other operating charges | 640/8 | €387 | €1,572 | +€1,185 | +305.9% |
| Gross operating margin | 9900 | €23,048 | €193,114 | +€170,066 | +737.9% |
| Operating profit (loss) | 9901 | €22,487 | €151,778 | +€129,291 | +575.0% |
| Financial income | 75/76B | €0 | €13 | +€13 | +4041.9% |
| Recurring financial income | 75 | €0 | €13 | +€13 | +4041.9% |
| Financial charges | 65/66B | €70 | €2,941 | +€2,871 | +4101.1% |
| Recurring financial charges | 65 | €70 | €2,941 | +€2,871 | +4101.1% |
| Profit (loss) for the period before taxes | 9903 | €22,417 | €148,850 | +€126,433 | +564.0% |
| Income taxes | 67/77 | €4,660 | €32,799 | +€28,138 | +603.8% |
| Profit (loss) for the period | 9904 | €17,757 | €116,052 | +€98,295 | +553.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,757 | €116,052 | +€98,295 | +553.6% |
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 6 October 2026 via checked.be.