X-PLUS: 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-PLUS
Largest movements
- Current investments +€40,230
new in 2025: €40,230
- Receivables within one year +€35,090
up €35,090 (+87.9%), from €39,905 to €74,994
of which Trade receivables: +€33,651
- Cash +€15,897
up €15,897 (+54.5%), from €29,191 to €45,088
mainly Net result for the year (+€66,587) and Tax, wage and social debts (+€12,779)
- Tangible fixed assets -€5,805
down €5,805 (-15.7%), from €37,076 to €31,271
of which Furniture and vehicles: -€4,430
- Reserves +€66,587
up €66,587 (+67.2%), from €99,035 to €165,622
- Tax, wage and social debts +€12,779
up €12,779 (+407.0%), from €3,140 to €15,919
- Advances received +€5,935
up €5,935 (+680.3%), from €872 to €6,807
- Trade debts +€2,810
up €2,810 (+691.9%), from €406 to €3,217
- Gross operating margin +€38,980
up €38,980 (+52.7%), from €73,899 to €112,879
- Taxes +€14,643
up €14,643 (+68.0%), from €21,535 to €36,179
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 | €106,859 | €192,064 | +€85,205 | +79.7% |
| Fixed assets | 21/28 | €37,186 | €31,381 | -€5,805 | -15.6% |
| Tangible fixed assets | 22/27 | €37,076 | €31,271 | -€5,805 | -15.7% |
| Land and buildings | 22 | €15,696 | €14,678 | -€1,018 | -6.5% |
| Plant, machinery and equipment | 23 | €4,553 | €4,196 | -€357 | -7.8% |
| Furniture and vehicles | 24 | €16,827 | €12,397 | -€4,430 | -26.3% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €69,673 | €160,683 | +€91,010 | +130.6% |
| Amounts receivable within one year | 40/41 | €39,905 | €74,994 | +€35,090 | +87.9% |
| Trade receivables | 40 | €39,905 | €73,556 | +€33,651 | +84.3% |
| Other amounts receivable | 41 | - | €1,439 | +€1,439 | |
| Current investments | 50/53 | - | €40,230 | +€40,230 | |
| Cash at bank and in hand | 54/58 | €29,191 | €45,088 | +€15,897 | +54.5% |
| Deferred charges and accrued income | 490/1 | €578 | €370 | -€208 | -36.0% |
| Total equity and liabilities | 10/49 | €106,859 | €192,064 | +€85,205 | +79.7% |
| Equity | 10/15 | €99,535 | €166,122 | +€66,587 | +66.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €99,035 | €165,622 | +€66,587 | +67.2% |
| Distributable reserves | 133 | €99,035 | €165,622 | +€66,587 | +67.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €7,324 | €25,943 | +€18,618 | +254.2% |
| Amounts payable within one year | 42/48 | €5,808 | €25,943 | +€20,135 | +346.7% |
| Trade debts | 44 | €406 | €3,217 | +€2,810 | +691.9% |
| Suppliers | 440/4 | €406 | €3,217 | +€2,810 | +691.9% |
| Advances received on contracts in progress | 46 | €872 | €6,807 | +€5,935 | +680.3% |
| Taxes, remuneration and social security | 45 | €3,140 | €15,919 | +€12,779 | +407.0% |
| Taxes | 450/3 | €3,140 | €15,919 | +€12,779 | +407.0% |
| Other amounts payable | 47/48 | €1,389 | €0 | -€1,389 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,517 | €0 | -€1,517 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,492 | €5,805 | +€313 | +5.7% |
| Other operating charges | 640/8 | €1,586 | €1,093 | -€494 | -31.1% |
| Gross operating margin | 9900 | €73,899 | €112,879 | +€38,980 | +52.7% |
| Operating profit (loss) | 9901 | €66,820 | €105,981 | +€39,161 | +58.6% |
| Financial income | 75/76B | €4 | €2 | -€2 | -46.7% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -46.7% |
| Financial charges | 65/66B | €3,130 | €3,218 | +€88 | +2.8% |
| Recurring financial charges | 65 | €3,130 | €3,218 | +€88 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €63,694 | €102,765 | +€39,071 | +61.3% |
| Income taxes | 67/77 | €21,535 | €36,179 | +€14,643 | +68.0% |
| Profit (loss) for the period | 9904 | €42,159 | €66,587 | +€24,428 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,159 | €66,587 | +€24,428 | +57.9% |
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 30 September 2026 via checked.be.