X-OATS: 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-OATS
Largest movements
- Cash +€94,780
up €94,780 (+115%), from €82,714 to €177,493
mainly Trade debts (+€104,478) and Debts after one year (+€102,015)
- Receivables within one year +€21,413
up €21,413 (+355%), from €6,027 to €27,440
of which Trade receivables: +€23,403
- Stocks and contracts -€12,669
down €12,669 (-17.5%), from €72,351 to €59,682
- Trade debts +€104,478
up €104,478 (+176%), from €59,290 to €163,768
- Profit (loss) carried forward -€103,330
down €103,330 (-48.3%), from -€213,923 to -€317,254
- Debts after one year +€102,015
up €102,015 (+165%), from €61,741 to €163,756
of which Other amounts payable: +€130,000
- Staff costs +€18,316
up €18,316 (+37.5%), from €48,862 to €67,179
- Gross operating margin +€5,278
up €5,278 (+19.7%), from -€26,809 to -€21,532
- Financial charges -€1,214
down €1,214 (-22.4%), from €5,412 to €4,197
- Depreciation +€1,181
up €1,181 (+13.9%), from €8,491 to €9,672
- Financial income -€731
down €731 (-76.9%), from €951 to €220
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 | €186,330 | €291,190 | +€104,860 | +56.3% |
| Fixed assets | 21/28 | €25,238 | €26,575 | +€1,337 | +5.3% |
| Intangible fixed assets | 21 | €24,025 | €24,507 | +€482 | +2.0% |
| Tangible fixed assets | 22/27 | €1,214 | €2,068 | +€855 | +70.4% |
| Plant, machinery and equipment | 23 | €1,214 | €834 | -€380 | -31.3% |
| Other tangible fixed assets | 26 | - | €1,235 | +€1,235 | |
| Current assets | 29/58 | €161,092 | €264,615 | +€103,523 | +64.3% |
| Stocks and contracts in progress | 3 | €72,351 | €59,682 | -€12,669 | -17.5% |
| Stocks | 30/36 | €72,351 | €59,682 | -€12,669 | -17.5% |
| Amounts receivable within one year | 40/41 | €6,027 | €27,440 | +€21,413 | +355% |
| Trade receivables | 40 | €191 | €23,594 | +€23,403 | +12,270% |
| Other amounts receivable | 41 | €5,837 | €3,846 | -€1,991 | -34.1% |
| Cash at bank and in hand | 54/58 | €82,714 | €177,493 | +€94,780 | +115% |
| Total equity and liabilities | 10/49 | €186,330 | €291,190 | +€104,860 | +56.3% |
| Equity | 10/15 | €28,122 | -€75,209 | -€103,330 | |
| Contributions | 10/11 | €242,045 | €242,045 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€213,923 | -€317,254 | -€103,330 | -48.3% |
| Amounts payable | 17/49 | €158,208 | €366,399 | +€208,190 | +132% |
| Amounts payable after more than one year | 17 | €61,741 | €163,756 | +€102,015 | +165% |
| Financial debts | 170/4 | €61,741 | €33,756 | -€27,985 | -45.3% |
| Other amounts payable | 178/9 | - | €130,000 | +€130,000 | |
| Amounts payable within one year | 42/48 | €96,468 | €202,643 | +€106,175 | +110% |
| Current portion of amounts payable after more than one year | 42 | €26,691 | €27,955 | +€1,264 | +4.7% |
| Trade debts | 44 | €59,290 | €163,768 | +€104,478 | +176% |
| Suppliers | 440/4 | €59,290 | €163,768 | +€104,478 | +176% |
| Taxes, remuneration and social security | 45 | €8,982 | €9,056 | +€74 | +0.8% |
| Taxes | 450/3 | €3,275 | €1,307 | -€1,968 | -60.1% |
| Remuneration and social security | 454/9 | €5,707 | €7,749 | +€2,042 | +35.8% |
| Other amounts payable | 47/48 | €1,504 | €1,864 | +€360 | +23.9% |
| Remuneration, social security and pensions | 62 | €48,862 | €67,179 | +€18,316 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,491 | €9,672 | +€1,181 | +13.9% |
| Other operating charges | 640/8 | €320 | €971 | +€651 | +204% |
| Gross operating margin | 9900 | -€26,809 | -€21,532 | +€5,278 | +19.7% |
| Operating profit (loss) | 9901 | -€84,483 | -€99,353 | -€14,871 | -17.6% |
| Financial income | 75/76B | €951 | €220 | -€731 | -76.9% |
| Recurring financial income | 75 | €951 | €220 | -€731 | -76.9% |
| Financial charges | 65/66B | €5,412 | €4,197 | -€1,214 | -22.4% |
| Recurring financial charges | 65 | €5,412 | €4,197 | -€1,214 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | -€88,943 | -€103,330 | -€14,388 | -16.2% |
| Profit (loss) for the period | 9904 | -€88,943 | -€103,330 | -€14,388 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,943 | -€103,330 | -€14,388 | -16.2% |
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 18 October 2026 via checked.be.