X-SON: 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-SON
Largest movements
- Financial fixed assets -€600,000
down €600,000 (-50.0%), from €1.2m to €600,000
- Cash +€83,906
up €83,906 (+81.5%), from €102,983 to €186,889
mainly Investment in fixed assets (net) (+€600,000) and Tax, wage and social debts (+€3,306)
- Receivables within one year +€15,783
up €15,783 (+154.2%), from €10,232 to €26,015
of which Trade receivables: +€26,015
- Profit (loss) carried forward -€506,202
new in 2025: -€506,202
- Financial charges +€601,256
up €601,256 (+10651.7%), from €5,645 to €606,901
of which Non-recurring financial charges: +€600,000
- Gross operating margin +€59,683
up €59,683 (+68.6%), from €86,969 to €146,652
- Taxes +€20,353
up €20,353 (+84.4%), from €24,115 to €44,468
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 | €1,313,503 | €812,904 | -€500,598 | -38.1% |
| Fixed assets | 21/28 | €1,200,000 | €600,000 | -€600,000 | -50.0% |
| Financial fixed assets | 28 | €1,200,000 | €600,000 | -€600,000 | -50.0% |
| Current assets | 29/58 | €113,503 | €212,904 | +€99,402 | +87.6% |
| Amounts receivable within one year | 40/41 | €10,232 | €26,015 | +€15,783 | +154.2% |
| Trade receivables | 40 | - | €26,015 | +€26,015 | |
| Other amounts receivable | 41 | €10,232 | €0 | -€10,232 | -100.0% |
| Cash at bank and in hand | 54/58 | €102,983 | €186,889 | +€83,906 | +81.5% |
| Deferred charges and accrued income | 490/1 | €287 | €0 | -€287 | -100.0% |
| Total equity and liabilities | 10/49 | €1,313,503 | €812,904 | -€500,598 | -38.1% |
| Equity | 10/15 | €1,161,972 | €655,770 | -€506,202 | -43.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,155,772 | €1,155,772 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €1,153,912 | €1,155,772 | +€1,860 | +0.2% |
| Profit (loss) carried forward | 14 | - | -€506,202 | -€506,202 | |
| Amounts payable | 17/49 | €151,531 | €157,134 | +€5,603 | +3.7% |
| Amounts payable within one year | 42/48 | €151,531 | €157,134 | +€5,603 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €124,347 | €124,347 | = | 0.0% |
| Trade debts | 44 | €2,172 | €3,448 | +€1,276 | +58.8% |
| Suppliers | 440/4 | €2,172 | €3,448 | +€1,276 | +58.8% |
| Taxes, remuneration and social security | 45 | €24,180 | €27,486 | +€3,306 | +13.7% |
| Taxes | 450/3 | €24,115 | €27,486 | +€3,371 | +14.0% |
| Remuneration and social security | 454/9 | €65 | €0 | -€65 | -100.0% |
| Other amounts payable | 47/48 | €832 | €1,853 | +€1,021 | +122.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49 | €0 | -€49 | -100.0% |
| Other operating charges | 640/8 | €793 | €1,485 | +€691 | +87.1% |
| Gross operating margin | 9900 | €86,969 | €146,652 | +€59,683 | +68.6% |
| Operating profit (loss) | 9901 | €86,127 | €145,168 | +€59,041 | +68.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €5,645 | €606,901 | +€601,256 | +10651.7% |
| Recurring financial charges | 65 | €5,645 | €6,901 | +€1,256 | +22.3% |
| Non-recurring financial charges | 66B | - | €600,000 | +€600,000 | |
| Profit (loss) for the period before taxes | 9903 | €80,483 | -€461,733 | -€542,216 | |
| Income taxes | 67/77 | €24,115 | €44,468 | +€20,353 | +84.4% |
| Profit (loss) for the period | 9904 | €56,368 | -€506,202 | -€562,569 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,368 | -€506,202 | -€562,569 |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.