X 3: 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.
X 3
Largest movements
- Receivables within one year -€94,464
down €94,464 (-9.2%), from €1.0m to €934,833
of which Other amounts receivable: -€95,619
- Tangible fixed assets -€35,069
down €35,069 (-12.8%), from €273,309 to €238,241
of which Land and buildings: -€33,284
- Profit (loss) carried forward -€64,596
down €64,596 (-37.5%), from €172,196 to €107,600
- Other debts -€54,296
down €54,296 (-41.5%), from €130,715 to €76,420
- Gross operating margin -€489,545
down €489,545 (-95.9%), from €510,227 to €20,683
- Financial income -€16,908
down €16,908 (-100.0%), from €16,908 to €0
- Depreciation -€12,064
down €12,064 (-25.6%), from €47,132 to €35,069
- Financial charges -€7,846
down €7,846 (-15.2%), from €51,679 to €43,833
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 | €2,001,399 | €1,886,496 | -€114,904 | -5.7% |
| Fixed assets | 21/28 | €961,277 | €926,209 | -€35,069 | -3.6% |
| Tangible fixed assets | 22/27 | €273,309 | €238,241 | -€35,069 | -12.8% |
| Land and buildings | 22 | €268,334 | €235,050 | -€33,284 | -12.4% |
| Furniture and vehicles | 24 | €4,976 | €3,191 | -€1,785 | -35.9% |
| Financial fixed assets | 28 | €687,968 | €687,968 | = | 0.0% |
| Current assets | 29/58 | €1,040,122 | €960,287 | -€79,835 | -7.7% |
| Stocks and contracts in progress | 3 | - | €16,100 | +€16,100 | |
| Stocks | 30/36 | - | €16,100 | +€16,100 | |
| Amounts receivable within one year | 40/41 | €1,029,298 | €934,833 | -€94,464 | -9.2% |
| Trade receivables | 40 | €5,479 | €6,633 | +€1,154 | +21.1% |
| Other amounts receivable | 41 | €1,023,819 | €928,200 | -€95,619 | -9.3% |
| Cash at bank and in hand | 54/58 | €8,768 | €7,718 | -€1,051 | -12.0% |
| Deferred charges and accrued income | 490/1 | €2,056 | €1,636 | -€420 | -20.4% |
| Total equity and liabilities | 10/49 | €2,001,399 | €1,886,496 | -€114,904 | -5.7% |
| Equity | 10/15 | €614,814 | €550,218 | -€64,596 | -10.5% |
| Contributions | 10/11 | €402,380 | €402,380 | = | 0.0% |
| Capital | 10 | €402,380 | €402,380 | = | 0.0% |
| Issued capital | 100 | €402,380 | €402,380 | = | 0.0% |
| Reserves | 13 | €40,238 | €40,238 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,238 | €40,238 | = | 0.0% |
| Legal reserve | 130 | €40,238 | €40,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,196 | €107,600 | -€64,596 | -37.5% |
| Amounts payable | 17/49 | €1,386,585 | €1,336,278 | -€50,308 | -3.6% |
| Amounts payable after more than one year | 17 | €1,250,000 | €1,250,000 | = | 0.0% |
| Financial debts | 170/4 | €1,250,000 | €1,250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €136,585 | €86,278 | -€50,308 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,435 | €7,295 | +€1,860 | +34.2% |
| Suppliers | 440/4 | €5,435 | €7,295 | +€1,860 | +34.2% |
| Taxes, remuneration and social security | 45 | €434 | €2,563 | +€2,128 | +489.9% |
| Taxes | 450/3 | €434 | €2,563 | +€2,128 | +489.9% |
| Other amounts payable | 47/48 | €130,715 | €76,420 | -€54,296 | -41.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €501,785 | €0 | -€501,785 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,132 | €35,069 | -€12,064 | -25.6% |
| Other operating charges | 640/8 | €10,513 | €5,933 | -€4,580 | -43.6% |
| Gross operating margin | 9900 | €510,227 | €20,683 | -€489,545 | -95.9% |
| Operating profit (loss) | 9901 | €452,582 | -€20,319 | -€472,901 | |
| Financial income | 75/76B | €16,908 | €0 | -€16,908 | -100.0% |
| Recurring financial income | 75 | €16,908 | €0 | -€16,908 | -100.0% |
| Financial charges | 65/66B | €51,679 | €43,833 | -€7,846 | -15.2% |
| Recurring financial charges | 65 | €51,679 | €43,833 | -€7,846 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €417,811 | -€64,152 | -€481,963 | |
| Income taxes | 67/77 | €434 | €444 | +€9 | +2.2% |
| Profit (loss) for the period | 9904 | €417,376 | -€64,596 | -€481,972 | |
| Profit (loss) for the period to be appropriated | 9905 | €417,376 | -€64,596 | -€481,972 |
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 4 October 2026 via checked.be.