X-BOUW: 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.
X-BOUW
Largest movements
- Tangible fixed assets +€70,921
up €70,921 (+753%), from €9,413 to €80,334
of which Furniture and vehicles: +€66,484
- Receivables within one year +€60,976
up €60,976 (+761%), from €8,013 to €68,989
of which Trade receivables: +€52,608
- Cash -€5,821
down €5,821 (-42.9%), from €13,575 to €7,754
mainly Investment in fixed assets (net) (-€87,137) and Receivables within one year (-€60,976)
- Debts after one year +€50,277
new in 2025: €50,277
- Reserves +€27,000
up €27,000 (+193%), from €14,010 to €41,010
of which Distributable reserves: +€27,000
- Current portion of long-term debt +€23,595
new in 2025: €23,595
- Advances received +€20,031
new in 2025: €20,031
- Trade debts +€4,039
up €4,039 (+173%), from €2,336 to €6,375
- Gross operating margin +€46,669
up €46,669 (+271%), from €17,209 to €63,878
- Taxes +€13,483
up €13,483 (+399%), from €3,383 to €16,865
- Depreciation +€8,146
up €8,146 (+101%), from €8,071 to €16,216
- Financial charges +€2,366
up €2,366 (+879%), from €269 to €2,635
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 | €32,048 | €157,510 | +€125,462 | +391% |
| Fixed assets | 21/28 | €9,413 | €80,334 | +€70,921 | +753% |
| Tangible fixed assets | 22/27 | €9,413 | €80,334 | +€70,921 | +753% |
| Plant, machinery and equipment | 23 | - | €4,437 | +€4,437 | |
| Furniture and vehicles | 24 | €9,413 | €75,897 | +€66,484 | +706% |
| Current assets | 29/58 | €22,635 | €77,176 | +€54,541 | +241% |
| Amounts receivable within one year | 40/41 | €8,013 | €68,989 | +€60,976 | +761% |
| Trade receivables | 40 | €1,958 | €54,566 | +€52,608 | +2,686% |
| Other amounts receivable | 41 | €6,054 | €14,422 | +€8,368 | +138% |
| Cash at bank and in hand | 54/58 | €13,575 | €7,754 | -€5,821 | -42.9% |
| Deferred charges and accrued income | 490/1 | €1,047 | €433 | -€614 | -58.6% |
| Total equity and liabilities | 10/49 | €32,048 | €157,510 | +€125,462 | +391% |
| Equity | 10/15 | €20,427 | €47,427 | +€27,000 | +132% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,010 | €41,010 | +€27,000 | +193% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,150 | €39,150 | +€27,000 | +222% |
| Profit (loss) carried forward | 14 | €217 | €217 | +€0 | 0.0% |
| Amounts payable | 17/49 | €11,622 | €110,084 | +€98,462 | +847% |
| Amounts payable after more than one year | 17 | - | €50,277 | +€50,277 | |
| Financial debts | 170/4 | - | €50,277 | +€50,277 | |
| Amounts payable within one year | 42/48 | €11,622 | €59,806 | +€48,185 | +415% |
| Current portion of amounts payable after more than one year | 42 | - | €23,595 | +€23,595 | |
| Trade debts | 44 | €2,336 | €6,375 | +€4,039 | +173% |
| Suppliers | 440/4 | €2,336 | €6,375 | +€4,039 | +173% |
| Advances received on contracts in progress | 46 | - | €20,031 | +€20,031 | |
| Taxes, remuneration and social security | 45 | €7,392 | €6,865 | -€527 | -7.1% |
| Taxes | 450/3 | €383 | €6,865 | +€6,483 | +1,694% |
| Remuneration and social security | 454/9 | €7,010 | - | -€7,010 | |
| Other amounts payable | 47/48 | €1,893 | €2,940 | +€1,047 | +55.3% |
| Non-recurring operating income | 76A | - | €320 | +€320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,071 | €16,216 | +€8,146 | +101% |
| Other operating charges | 640/8 | €1,224 | €1,162 | -€62 | -5.0% |
| Gross operating margin | 9900 | €17,209 | €63,878 | +€46,669 | +271% |
| Operating profit (loss) | 9901 | €7,915 | €46,500 | +€38,585 | +488% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €269 | €2,635 | +€2,366 | +879% |
| Recurring financial charges | 65 | €269 | €2,635 | +€2,366 | +879% |
| Profit (loss) for the period before taxes | 9903 | €7,645 | €43,865 | +€36,220 | +474% |
| Income taxes | 67/77 | €3,383 | €16,865 | +€13,483 | +399% |
| Profit (loss) for the period | 9904 | €4,263 | €27,000 | +€22,737 | +533% |
| Profit (loss) for the period to be appropriated | 9905 | €4,263 | €27,000 | +€22,737 | +533% |
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 23 October 2026 via checked.be.