X-SEC SERVICES: 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-SEC SERVICES
Largest movements
- Receivables after one year -€15,177
no longer reported in 2025 (was €15,177)
- Cash +€13,156
up €13,156 (+21.1%), from €62,399 to €75,556
mainly Net result for the year (+€81,446) and Receivables after one year (+€15,177)
- Deferred charges and accrued income -€7,161
down €7,161 (-70.6%), from €10,146 to €2,985
- Receivables within one year -€3,966
down €3,966 (-14.7%), from €26,934 to €22,968
of which Other amounts receivable: -€2,154
- Reserves +€46,965
up €46,965 (+22.6%), from €208,202 to €255,167
- Other debts -€39,966
down €39,966 (-51.5%), from €77,555 to €37,589
- Tax, wage and social debts -€13,929
down €13,929 (-39.4%), from €35,352 to €21,423
of which Taxes: -€15,929
- Trade debts -€3,563
down €3,563 (-55.7%), from €6,400 to €2,837
- Taxes +€8,361
up €8,361 (+32.8%), from €25,456 to €33,817
- Gross operating margin +€2,465
up €2,465 (+2.1%), from €117,002 to €119,467
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 | €346,111 | €335,617 | -€10,494 | -3.0% |
| Fixed assets | 21/28 | €9,835 | €12,489 | +€2,654 | +27.0% |
| Tangible fixed assets | 22/27 | €9,835 | €12,489 | +€2,654 | +27.0% |
| Plant, machinery and equipment | 23 | €6,101 | €9,350 | +€3,249 | +53.3% |
| Furniture and vehicles | 24 | €2,617 | €2,270 | -€347 | -13.3% |
| Other tangible fixed assets | 26 | €1,118 | €870 | -€248 | -22.2% |
| Current assets | 29/58 | €336,275 | €323,128 | -€13,147 | -3.9% |
| Amounts receivable after more than one year | 29 | €15,177 | - | -€15,177 | |
| Other amounts receivable | 291 | €15,177 | - | -€15,177 | |
| Stocks and contracts in progress | 3 | €1,619 | €1,619 | = | 0.0% |
| Stocks | 30/36 | €1,619 | €1,619 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,934 | €22,968 | -€3,966 | -14.7% |
| Trade receivables | 40 | €24,780 | €22,968 | -€1,812 | -7.3% |
| Other amounts receivable | 41 | €2,154 | - | -€2,154 | |
| Current investments | 50/53 | €220,000 | €220,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,399 | €75,556 | +€13,156 | +21.1% |
| Deferred charges and accrued income | 490/1 | €10,146 | €2,985 | -€7,161 | -70.6% |
| Total equity and liabilities | 10/49 | €346,111 | €335,617 | -€10,494 | -3.0% |
| Equity | 10/15 | €226,802 | €273,767 | +€46,965 | +20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €208,202 | €255,167 | +€46,965 | +22.6% |
| Distributable reserves | 133 | €208,202 | €255,167 | +€46,965 | +22.6% |
| Amounts payable | 17/49 | €119,308 | €61,850 | -€57,459 | -48.2% |
| Amounts payable within one year | 42/48 | €119,308 | €61,850 | -€57,459 | -48.2% |
| Trade debts | 44 | €6,400 | €2,837 | -€3,563 | -55.7% |
| Suppliers | 440/4 | €6,400 | €2,837 | -€3,563 | -55.7% |
| Taxes, remuneration and social security | 45 | €35,352 | €21,423 | -€13,929 | -39.4% |
| Taxes | 450/3 | €35,352 | €19,423 | -€15,929 | -45.1% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €77,555 | €37,589 | -€39,966 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,558 | €2,932 | +€374 | +14.6% |
| Other operating charges | 640/8 | €1,183 | €1,206 | +€23 | +2.0% |
| Gross operating margin | 9900 | €117,002 | €119,467 | +€2,465 | +2.1% |
| Operating profit (loss) | 9901 | €113,261 | €115,329 | +€2,068 | +1.8% |
| Financial income | 75/76B | €524 | €99 | -€424 | -81.0% |
| Recurring financial income | 75 | €524 | €99 | -€424 | -81.0% |
| Financial charges | 65/66B | €107 | €166 | +€59 | +54.6% |
| Recurring financial charges | 65 | €107 | €166 | +€59 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | €113,677 | €115,263 | +€1,585 | +1.4% |
| Income taxes | 67/77 | €25,456 | €33,817 | +€8,361 | +32.8% |
| Profit (loss) for the period | 9904 | €88,221 | €81,446 | -€6,775 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €88,221 | €81,446 | -€6,775 | -7.7% |
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 5 October 2026 via checked.be.