X-Pand: 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-Pand
Largest movements
- Receivables after one year +€569,442
new in 2025: €569,442
- Receivables within one year -€302,385
down €302,385 (-85.5%), from €353,580 to €51,194
of which Trade receivables: -€231,280
- Stocks and contracts -€78,320
down €78,320 (-48.7%), from €160,904 to €82,583
- Profit (loss) carried forward +€196,420
up €196,420 (+62.8%), from €312,849 to €509,268
- Other debts +€40,000
up €40,000 (+78.1%), from €51,210 to €91,210
- Trade debts -€31,167
down €31,167 (-61.6%), from €50,573 to €19,405
- Tax, wage and social debts -€11,818
no longer reported in 2025 (was €11,818)
- Taxes +€28,119
up €28,119 (+75.3%), from €37,355 to €65,473
- Gross operating margin -€17,291
down €17,291 (-6.3%), from €276,457 to €259,166
- Financial income +€14,183
up €14,183 (+5,463%), from €260 to €14,442
- Financial charges -€6,348
down €6,348 (-35.9%), from €17,683 to €11,335
of which Financial charges: -€14,637
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 | €531,449 | €724,884 | +€193,435 | +36.4% |
| Fixed assets | 21/28 | €12,700 | €12,700 | = | 0.0% |
| Financial fixed assets | 28 | €12,700 | €12,700 | = | 0.0% |
| Current assets | 29/58 | €518,749 | €712,184 | +€193,435 | +37.3% |
| Amounts receivable after more than one year | 29 | - | €569,442 | +€569,442 | |
| Other amounts receivable | 291 | - | €569,442 | +€569,442 | |
| Stocks and contracts in progress | 3 | €160,904 | €82,583 | -€78,320 | -48.7% |
| Stocks | 30/36 | €160,904 | €82,583 | -€78,320 | -48.7% |
| Amounts receivable within one year | 40/41 | €353,580 | €51,194 | -€302,385 | -85.5% |
| Trade receivables | 40 | €245,134 | €13,855 | -€231,280 | -94.3% |
| Other amounts receivable | 41 | €108,445 | €37,340 | -€71,106 | -65.6% |
| Cash at bank and in hand | 54/58 | €4,265 | €8,964 | +€4,699 | +110% |
| Total equity and liabilities | 10/49 | €531,449 | €724,884 | +€193,435 | +36.4% |
| Equity | 10/15 | €317,849 | €514,268 | +€196,420 | +61.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,849 | €509,268 | +€196,420 | +62.8% |
| Amounts payable | 17/49 | €213,600 | €210,615 | -€2,985 | -1.4% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,600 | €110,615 | -€2,985 | -2.6% |
| Trade debts | 44 | €50,573 | €19,405 | -€31,167 | -61.6% |
| Suppliers | 440/4 | €50,573 | €19,405 | -€31,167 | -61.6% |
| Taxes, remuneration and social security | 45 | €11,818 | - | -€11,818 | |
| Taxes | 450/3 | €11,818 | - | -€11,818 | |
| Other amounts payable | 47/48 | €51,210 | €91,210 | +€40,000 | +78.1% |
| Other operating charges | 640/8 | €1,357 | €381 | -€977 | -72.0% |
| Gross operating margin | 9900 | €276,457 | €259,166 | -€17,291 | -6.3% |
| Operating profit (loss) | 9901 | €275,100 | €258,786 | -€16,315 | -5.9% |
| Financial income | 75/76B | €260 | €14,442 | +€14,183 | +5,463% |
| Recurring financial income | 75 | €260 | €14,442 | +€14,183 | +5,463% |
| Financial charges | 65/66B | €17,683 | €11,335 | -€6,348 | -35.9% |
| Recurring financial charges | 65 | €17,683 | €3,046 | -€14,637 | -82.8% |
| Non-recurring financial charges | 66B | - | €8,289 | +€8,289 | |
| Profit (loss) for the period before taxes | 9903 | €257,677 | €261,893 | +€4,216 | +1.6% |
| Income taxes | 67/77 | €37,355 | €65,473 | +€28,119 | +75.3% |
| Profit (loss) for the period | 9904 | €220,322 | €196,420 | -€23,902 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €220,322 | €196,420 | -€23,902 | -10.8% |
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 16 October 2026 via checked.be.