X'Meat: 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'Meat
Largest movements
- Receivables within one year +€25,178
up €25,178 (+385.8%), from €6,527 to €31,705
of which Trade receivables: +€22,864
- Tangible fixed assets +€8,051
up €8,051 (+16.6%), from €48,613 to €56,663
of which Plant, machinery and equipment: +€13,931
- Cash +€6,769
up €6,769 (+14.4%), from €46,918 to €53,686
mainly Net result for the year (+€37,553) and Other debts (+€30,169)
- Other debts +€30,169
up €30,169 (+172.8%), from €17,455 to €47,624
- Trade debts +€12,293
up €12,293 (+34.8%), from €35,301 to €47,595
- Debts after one year -€7,387
down €7,387 (-41.9%), from €17,648 to €10,261
- Tax, wage and social debts +€6,680
up €6,680 (+74.6%), from €8,956 to €15,637
of which Remuneration and social security: +€4,755
- Staff costs -€7,327
down €7,327 (-6.3%), from €115,527 to €108,201
- Gross operating margin -€5,494
down €5,494 (-3.0%), from €185,447 to €179,953
- Depreciation +€4,770
up €4,770 (+38.2%), from €12,477 to €17,247
- Taxes -€3,346
down €3,346 (-23.6%), from €14,158 to €10,812
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 | €183,976 | €225,985 | +€42,009 | +22.8% |
| Fixed assets | 21/28 | €48,613 | €56,663 | +€8,051 | +16.6% |
| Tangible fixed assets | 22/27 | €48,613 | €56,663 | +€8,051 | +16.6% |
| Plant, machinery and equipment | 23 | €23,623 | €37,553 | +€13,931 | +59.0% |
| Furniture and vehicles | 24 | €24,990 | €19,110 | -€5,880 | -23.5% |
| Current assets | 29/58 | €135,363 | €169,322 | +€33,959 | +25.1% |
| Stocks and contracts in progress | 3 | €10,739 | €12,344 | +€1,605 | +14.9% |
| Stocks | 30/36 | €10,739 | €12,344 | +€1,605 | +14.9% |
| Amounts receivable within one year | 40/41 | €6,527 | €31,705 | +€25,178 | +385.8% |
| Trade receivables | 40 | €4,653 | €27,517 | +€22,864 | +491.3% |
| Other amounts receivable | 41 | €1,873 | €4,188 | +€2,314 | +123.5% |
| Current investments | 50/53 | €65,000 | €65,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,918 | €53,686 | +€6,769 | +14.4% |
| Deferred charges and accrued income | 490/1 | €6,180 | €6,587 | +€407 | +6.6% |
| Total equity and liabilities | 10/49 | €183,976 | €225,985 | +€42,009 | +22.8% |
| Equity | 10/15 | €95,982 | €95,982 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €90,982 | €90,982 | = | 0.0% |
| Distributable reserves | 133 | €90,982 | €90,982 | = | 0.0% |
| Amounts payable | 17/49 | €87,995 | €130,004 | +€42,009 | +47.7% |
| Amounts payable after more than one year | 17 | €17,648 | €10,261 | -€7,387 | -41.9% |
| Financial debts | 170/4 | €17,648 | €10,261 | -€7,387 | -41.9% |
| Amounts payable within one year | 42/48 | €68,846 | €118,243 | +€49,397 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €7,133 | €7,387 | +€254 | +3.6% |
| Trade debts | 44 | €35,301 | €47,595 | +€12,293 | +34.8% |
| Suppliers | 440/4 | €35,301 | €47,595 | +€12,293 | +34.8% |
| Taxes, remuneration and social security | 45 | €8,956 | €15,637 | +€6,680 | +74.6% |
| Taxes | 450/3 | €8,956 | €10,882 | +€1,925 | +21.5% |
| Remuneration and social security | 454/9 | - | €4,755 | +€4,755 | |
| Other amounts payable | 47/48 | €17,455 | €47,624 | +€30,169 | +172.8% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Non-recurring operating income | 76A | €620 | - | -€620 | |
| Remuneration, social security and pensions | 62 | €115,527 | €108,201 | -€7,327 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,477 | €17,247 | +€4,770 | +38.2% |
| Other operating charges | 640/8 | €4,772 | €4,758 | -€14 | -0.3% |
| Gross operating margin | 9900 | €185,447 | €179,953 | -€5,494 | -3.0% |
| Operating profit (loss) | 9901 | €52,670 | €49,747 | -€2,923 | -5.6% |
| Financial charges | 65/66B | €1,344 | €1,381 | +€37 | +2.7% |
| Recurring financial charges | 65 | €1,344 | €1,381 | +€37 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €51,326 | €48,366 | -€2,960 | -5.8% |
| Income taxes | 67/77 | €14,158 | €10,812 | -€3,346 | -23.6% |
| Profit (loss) for the period | 9904 | €37,168 | €37,553 | +€386 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,168 | €37,553 | +€386 | +1.0% |
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.