X-square: 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-square
Largest movements
- Cash +€157,459
up €157,459 (+2829.2%), from €5,566 to €163,024
mainly Net result for the year (+€144,025) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€2,911
up €2,911 (+14.2%), from €20,570 to €23,481
of which Other amounts receivable: +€1,911
- Reserves +€144,025
new in 2025: €144,025
- Other debts -€22,651
down €22,651 (-46.7%), from €48,508 to €25,857
- Trade debts -€5,709
down €5,709 (-79.5%), from €7,182 to €1,473
- Accrued charges and deferred income -€4,778
down €4,778 (-91.6%), from €5,218 to €440
- Gross operating margin -€833,234
down €833,234 (-81.1%), from €1.0m to €193,993
- Taxes -€209,552
down €209,552 (-81.2%), from €258,148 to €48,596
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 | €80,288 | €189,730 | +€109,442 | +136.3% |
| Formation expenses | 20 | €56 | - | -€56 | |
| Fixed assets | 21/28 | €1,132 | €647 | -€484 | -42.8% |
| Tangible fixed assets | 22/27 | €1,132 | €647 | -€484 | -42.8% |
| Furniture and vehicles | 24 | €1,132 | €647 | -€484 | -42.8% |
| Current assets | 29/58 | €79,100 | €189,082 | +€109,982 | +139.0% |
| Amounts receivable within one year | 40/41 | €20,570 | €23,481 | +€2,911 | +14.2% |
| Trade receivables | 40 | €20,570 | €21,570 | +€1,000 | +4.9% |
| Other amounts receivable | 41 | - | €1,911 | +€1,911 | |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €5,566 | €163,024 | +€157,459 | +2829.2% |
| Deferred charges and accrued income | 490/1 | €2,964 | €2,577 | -€387 | -13.1% |
| Total equity and liabilities | 10/49 | €80,288 | €189,730 | +€109,442 | +136.3% |
| Equity | 10/15 | €2,500 | €146,525 | +€144,025 | +5761.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €144,025 | +€144,025 | |
| Distributable reserves | 133 | - | €144,025 | +€144,025 | |
| Amounts payable | 17/49 | €77,788 | €43,205 | -€34,583 | -44.5% |
| Amounts payable within one year | 42/48 | €72,570 | €42,765 | -€29,805 | -41.1% |
| Trade debts | 44 | €7,182 | €1,473 | -€5,709 | -79.5% |
| Suppliers | 440/4 | €7,182 | €1,473 | -€5,709 | -79.5% |
| Taxes, remuneration and social security | 45 | €16,880 | €15,435 | -€1,446 | -8.6% |
| Taxes | 450/3 | €16,880 | €15,435 | -€1,446 | -8.6% |
| Other amounts payable | 47/48 | €48,508 | €25,857 | -€22,651 | -46.7% |
| Accrued charges and deferred income | 492/3 | €5,218 | €440 | -€4,778 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,061 | €540 | -€4,520 | -89.3% |
| Other operating charges | 640/8 | €291 | €144 | -€146 | -50.4% |
| Gross operating margin | 9900 | €1,027,227 | €193,993 | -€833,234 | -81.1% |
| Operating profit (loss) | 9901 | €1,021,876 | €193,308 | -€828,567 | -81.1% |
| Financial income | 75/76B | €4,030 | €1,531 | -€2,498 | -62.0% |
| Recurring financial income | 75 | €4,030 | €1,531 | -€2,498 | -62.0% |
| Financial charges | 65/66B | €6,968 | €2,219 | -€4,749 | -68.2% |
| Recurring financial charges | 65 | €6,968 | €2,219 | -€4,749 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | €1,018,938 | €192,621 | -€826,317 | -81.1% |
| Income taxes | 67/77 | €258,148 | €48,596 | -€209,552 | -81.2% |
| Profit (loss) for the period | 9904 | €760,790 | €144,025 | -€616,765 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €760,790 | €144,025 | -€616,765 | -81.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.