X-factory: 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-factory
Largest movements
- Receivables within one year +€1,227
up €1,227 (+196%), from €624 to €1,851
of which Trade receivables: +€1,225
- Cash -€630
down €630 (-33.8%), from €1,866 to €1,236
mainly Tax, wage and social debts (-€3,180) and Other debts (-€2,456)
- Deferred charges and accrued income -€160
down €160 (-35.0%), from €457 to €297
- Profit (loss) carried forward +€4,338
up €4,338 (+7.4%), from -€58,884 to -€54,546
- Tax, wage and social debts -€3,180
down €3,180 (-94.8%), from €3,353 to €173
of which Remuneration and social security: -€2,455
- Other debts -€2,456
down €2,456 (-21.4%), from €11,472 to €9,016
- Trade debts +€924
up €924 (+159%), from €581 to €1,505
- Advances received +€837
new in 2025: €837
- Gross operating margin +€5,487
up €5,487, from -€522 to €4,966
- Other operating charges -€2,721
down €2,721 (-83.3%), from €3,266 to €545
- Write-downs +€2,073
up €2,073, from -€2,013 to €61
- Taxes -€279
down €279, from €74 to -€205
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 | €2,947 | €3,384 | +€437 | +14.8% |
| Current assets | 29/58 | €2,947 | €3,384 | +€437 | +14.8% |
| Amounts receivable within one year | 40/41 | €624 | €1,851 | +€1,227 | +196% |
| Trade receivables | 40 | €624 | €1,850 | +€1,225 | +196% |
| Other amounts receivable | 41 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €1,866 | €1,236 | -€630 | -33.8% |
| Deferred charges and accrued income | 490/1 | €457 | €297 | -€160 | -35.0% |
| Total equity and liabilities | 10/49 | €2,947 | €3,384 | +€437 | +14.8% |
| Equity | 10/15 | -€52,684 | -€48,346 | +€4,338 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,884 | -€54,546 | +€4,338 | +7.4% |
| Amounts payable | 17/49 | €55,631 | €51,729 | -€3,901 | -7.0% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,631 | €11,729 | -€3,901 | -25.0% |
| Financial debts | 43 | €225 | €199 | -€26 | -11.6% |
| Credit institutions | 430/8 | €225 | €199 | -€26 | -11.6% |
| Trade debts | 44 | €581 | €1,505 | +€924 | +159% |
| Suppliers | 440/4 | €581 | €1,505 | +€924 | +159% |
| Advances received on contracts in progress | 46 | - | €837 | +€837 | |
| Taxes, remuneration and social security | 45 | €3,353 | €173 | -€3,180 | -94.8% |
| Taxes | 450/3 | €897 | €173 | -€725 | -80.7% |
| Remuneration and social security | 454/9 | €2,455 | €0 | -€2,455 | -100% |
| Other amounts payable | 47/48 | €11,472 | €9,016 | -€2,456 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,013 | €61 | +€2,073 | |
| Other operating charges | 640/8 | €3,266 | €545 | -€2,721 | -83.3% |
| Gross operating margin | 9900 | -€522 | €4,966 | +€5,487 | |
| Operating profit (loss) | 9901 | -€1,775 | €4,360 | +€6,136 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €178 | €227 | +€49 | +27.8% |
| Recurring financial charges | 65 | €178 | €227 | +€49 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,953 | €4,133 | +€6,086 | |
| Income taxes | 67/77 | €74 | -€205 | -€279 | |
| Profit (loss) for the period | 9904 | -€2,028 | €4,338 | +€6,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,028 | €4,338 | +€6,365 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.