X M L: 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 M L
Largest movements
- Receivables within one year -€2.1m
down €2.1m (-50.5%), from €4.1m to €2.0m
of which Trade receivables: -€2.0m
- Stocks and contracts +€534,478
up €534,478 (+487%), from €109,774 to €644,252
of which Stocks: +€570,972
- Current investments -€262,023
down €262,023 (-53.9%), from €486,064 to €224,041
- Cash +€209,053
up €209,053 (+78.7%), from €265,577 to €474,630
mainly Receivables within one year (+€2.1m) and Current investments (+€262,023)
- Tangible fixed assets +€108,262
up €108,262 (+110%), from €98,566 to €206,828
of which Other tangible fixed assets: +€88,106
- Trade debts -€668,732
down €668,732 (-41.1%), from €1.6m to €958,177
- Profit (loss) carried forward -€414,582
down €414,582 (-23.2%), from €1.8m to €1.4m
- Current portion of long-term debt -€329,259
no longer reported in 2024 (was €329,259)
- Advances received -€69,155
down €69,155 (-99.0%), from €69,857 to €702
- Tax, wage and social debts -€65,787
down €65,787 (-60.9%), from €108,084 to €42,297
of which Remuneration and social security: -€52,829
- Turnover -€11.7m
no longer reported in 2024 (was €11.7m)
- Goods and materials -€10.7m
no longer reported in 2024 (was €10.7m)
of which Purchases: -€10.2m
- Services and other goods -€789,479
no longer reported in 2024 (was €789,479)
- Other operating charges -€644,380
down €644,380 (-99.3%), from €648,945 to €4,565
- Staff costs -€275,454
down €275,454 (-38.6%), from €714,105 to €438,651
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,270,262 | €3,750,774 | -€1.5m | -28.8% |
| Fixed assets | 21/28 | €189,232 | €273,048 | +€83,816 | +44.3% |
| Intangible fixed assets | 21 | €71,433 | €46,987 | -€24,446 | -34.2% |
| Tangible fixed assets | 22/27 | €98,566 | €206,828 | +€108,262 | +110% |
| Furniture and vehicles | 24 | €70,839 | €90,995 | +€20,156 | +28.5% |
| Other tangible fixed assets | 26 | €27,727 | €115,833 | +€88,106 | +318% |
| Financial fixed assets | 28 | €19,233 | €19,233 | = | 0.0% |
| Affiliated companies | 280/1 | €18,324 | - | -€18,324 | |
| Participating interests | 280 | €18,324 | - | -€18,324 | |
| Other financial fixed assets | 284/8 | €909 | - | -€909 | |
| Amounts receivable and cash guarantees | 285/8 | €909 | - | -€909 | |
| Current assets | 29/58 | €5,081,030 | €3,477,726 | -€1.6m | -31.6% |
| Amounts receivable after more than one year | 29 | €82,308 | €82,308 | = | 0.0% |
| Other amounts receivable | 291 | €82,308 | €82,308 | = | 0.0% |
| Stocks and contracts in progress | 3 | €109,774 | €644,252 | +€534,478 | +487% |
| Stocks | 30/36 | €73,280 | €644,252 | +€570,972 | +779% |
| Goods purchased for resale | 34 | €73,280 | - | -€73,280 | |
| Contracts in progress | 37 | €36,494 | - | -€36,494 | |
| Amounts receivable within one year | 40/41 | €4,118,894 | €2,040,581 | -€2.1m | -50.5% |
| Trade receivables | 40 | €3,739,296 | €1,701,503 | -€2.0m | -54.5% |
| Other amounts receivable | 41 | €379,598 | €339,078 | -€40,520 | -10.7% |
| Current investments | 50/53 | €486,064 | €224,041 | -€262,023 | -53.9% |
| Other investments | 51/53 | €486,064 | - | -€486,064 | |
| Cash at bank and in hand | 54/58 | €265,577 | €474,630 | +€209,053 | +78.7% |
| Deferred charges and accrued income | 490/1 | €18,413 | €11,914 | -€6,500 | -35.3% |
| Total equity and liabilities | 10/49 | €5,270,262 | €3,750,774 | -€1.5m | -28.8% |
| Equity | 10/15 | €2,464,023 | €2,049,441 | -€414,582 | -16.8% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €273,757 | €273,757 | = | 0.0% |
| Non-distributable reserves | 130/1 | €273,757 | €273,757 | = | 0.0% |
| Reserves not available under the articles | 1311 | €273,757 | €273,757 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,790,266 | €1,375,684 | -€414,582 | -23.2% |
| Amounts payable | 17/49 | €2,806,239 | €1,701,333 | -€1.1m | -39.4% |
| Amounts payable within one year | 42/48 | €2,806,239 | €1,701,333 | -€1.1m | -39.4% |
| Current portion of amounts payable after more than one year | 42 | €329,259 | - | -€329,259 | |
| Trade debts | 44 | €1,626,909 | €958,177 | -€668,732 | -41.1% |
| Suppliers | 440/4 | €1,626,909 | €958,177 | -€668,732 | -41.1% |
| Advances received on contracts in progress | 46 | €69,857 | €702 | -€69,155 | -99.0% |
| Taxes, remuneration and social security | 45 | €108,084 | €42,297 | -€65,787 | -60.9% |
| Taxes | 450/3 | €15,724 | €2,766 | -€12,958 | -82.4% |
| Remuneration and social security | 454/9 | €92,360 | €39,531 | -€52,829 | -57.2% |
| Other amounts payable | 47/48 | €672,131 | €700,156 | +€28,026 | +4.2% |
| Operating income | 70/76A | €11,820,285 | - | -€11.8m | |
| Turnover | 70 | €11,666,262 | - | -€11.7m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €36,494 | - | -€36,494 | |
| Other operating income | 74 | €17,331 | - | -€17,331 | |
| Non-recurring operating income | 76A | €100,199 | €5,283 | -€94,916 | -94.7% |
| Operating charges | 60/66A | €12,971,779 | - | -€13.0m | |
| Goods for resale, raw materials and consumables | 60 | €10,679,237 | - | -€10.7m | |
| Purchases | 600/8 | €10,212,409 | - | -€10.2m | |
| Change in stocks: decrease (increase) | 609 | €466,828 | - | -€466,828 | |
| Services and other goods | 61 | €789,479 | - | -€789,479 | |
| Remuneration, social security and pensions | 62 | €714,105 | €438,651 | -€275,454 | -38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,992 | €88,528 | +€9,536 | +12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €45,060 | - | -€45,060 | |
| Other operating charges | 640/8 | €648,945 | €4,565 | -€644,380 | -99.3% |
| Non-recurring operating charges | 66A | €15,960 | €32,899 | +€16,939 | +106% |
| Gross operating margin | 9900 | - | €83,602 | +€83,602 | |
| Operating profit (loss) | 9901 | -€1,151,494 | -€481,042 | +€670,452 | +58.2% |
| Financial income | 75/76B | €168,924 | €364,559 | +€195,635 | +116% |
| Recurring financial income | 75 | €168,924 | €364,559 | +€195,635 | +116% |
| Other financial income | 752/9 | €168,924 | - | -€168,924 | |
| Financial charges | 65/66B | €288,602 | €298,099 | +€9,497 | +3.3% |
| Recurring financial charges | 65 | €288,602 | €298,099 | +€9,497 | +3.3% |
| Debt charges | 650 | €1,035 | - | -€1,035 | |
| Other financial charges | 652/9 | €287,567 | - | -€287,567 | |
| Profit (loss) for the period before taxes | 9903 | -€1,271,172 | -€414,582 | +€856,591 | +67.4% |
| Income taxes | 67/77 | €1,478 | - | -€1,478 | |
| Taxes | 670/3 | €1,478 | - | -€1,478 | |
| Profit (loss) for the period | 9904 | -€1,272,650 | -€414,582 | +€858,068 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,272,650 | -€414,582 | +€858,068 | +67.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.