X-Works: 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-Works
Largest movements
- Receivables within one year +€17,404
up €17,404 (+127%), from €13,697 to €31,101
- Receivables after one year -€7,733
down €7,733 (-11.1%), from €69,600 to €61,867
- Tangible fixed assets -€2,465
down €2,465 (-3.0%), from €81,446 to €78,981
of which Land and buildings: -€3,217
- Trade debts +€9,551
up €9,551 (+53.2%), from €17,940 to €27,491
- Debts after one year -€6,168
down €6,168 (-12.6%), from €48,911 to €42,743
- Reserves +€2,739
up €2,739 (+6.1%), from €45,140 to €47,879
of which Distributable reserves: +€2,739
- Tax, wage and social debts +€1,866
up €1,866 (+22.2%), from €8,395 to €10,261
- Financial income +€4,537
up €4,537 (+1,372%), from €331 to €4,868
- Gross operating margin -€4,407
down €4,407 (-22.2%), from €19,853 to €15,446
- Taxes +€1,179
up €1,179 (+59.5%), from €1,981 to €3,160
- Financial charges -€1,159
down €1,159 (-14.6%), from €7,927 to €6,768
- Other operating charges -€249
down €249 (-11.3%), from €2,197 to €1,948
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 | €166,802 | €175,035 | +€8,233 | +4.9% |
| Fixed assets | 21/28 | €81,446 | €79,571 | -€1,875 | -2.3% |
| Tangible fixed assets | 22/27 | €81,446 | €78,981 | -€2,465 | -3.0% |
| Land and buildings | 22 | €63,880 | €60,663 | -€3,217 | -5.0% |
| Furniture and vehicles | 24 | €7,760 | €6,113 | -€1,648 | -21.2% |
| Other tangible fixed assets | 26 | €9,805 | €12,205 | +€2,400 | +24.5% |
| Financial fixed assets | 28 | - | €590 | +€590 | |
| Current assets | 29/58 | €85,356 | €95,465 | +€10,108 | +11.8% |
| Amounts receivable after more than one year | 29 | €69,600 | €61,867 | -€7,733 | -11.1% |
| Other amounts receivable | 291 | €69,600 | €61,867 | -€7,733 | -11.1% |
| Amounts receivable within one year | 40/41 | €13,697 | €31,101 | +€17,404 | +127% |
| Other amounts receivable | 41 | €13,697 | €31,101 | +€17,404 | +127% |
| Cash at bank and in hand | 54/58 | €408 | €941 | +€533 | +131% |
| Deferred charges and accrued income | 490/1 | €1,651 | €1,556 | -€95 | -5.7% |
| Total equity and liabilities | 10/49 | €166,802 | €175,035 | +€8,233 | +4.9% |
| Equity | 10/15 | €51,340 | €54,079 | +€2,739 | +5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €45,140 | €47,879 | +€2,739 | +6.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,067 | €12,067 | = | 0.0% |
| Distributable reserves | 133 | €31,213 | €33,952 | +€2,739 | +8.8% |
| Profit (loss) carried forward | 14 | -€6,199 | -€6,199 | = | 0.0% |
| Amounts payable | 17/49 | €115,462 | €120,956 | +€5,494 | +4.8% |
| Amounts payable after more than one year | 17 | €48,911 | €42,743 | -€6,168 | -12.6% |
| Financial debts | 170/4 | €48,911 | €42,743 | -€6,168 | -12.6% |
| Amounts payable within one year | 42/48 | €66,551 | €78,213 | +€11,662 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €5,923 | €6,168 | +€245 | +4.1% |
| Financial debts | 43 | €24,960 | €24,960 | = | 0.0% |
| Credit institutions | 430/8 | €24,960 | €24,960 | = | 0.0% |
| Trade debts | 44 | €17,940 | €27,491 | +€9,551 | +53.2% |
| Suppliers | 440/4 | €17,940 | €27,491 | +€9,551 | +53.2% |
| Taxes, remuneration and social security | 45 | €8,395 | €10,261 | +€1,866 | +22.2% |
| Taxes | 450/3 | €8,395 | €10,261 | +€1,866 | +22.2% |
| Other amounts payable | 47/48 | €9,333 | €9,333 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,029 | €4,865 | -€163 | -3.3% |
| Other operating charges | 640/8 | €2,197 | €1,948 | -€249 | -11.3% |
| Gross operating margin | 9900 | €19,853 | €15,446 | -€4,407 | -22.2% |
| Operating profit (loss) | 9901 | €12,627 | €8,633 | -€3,994 | -31.6% |
| Financial income | 75/76B | €331 | €4,868 | +€4,537 | +1,372% |
| Recurring financial income | 75 | €331 | €4,868 | +€4,537 | +1,372% |
| Financial charges | 65/66B | €7,927 | €6,768 | -€1,159 | -14.6% |
| Recurring financial charges | 65 | €7,927 | €6,768 | -€1,159 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €5,031 | €6,732 | +€1,702 | +33.8% |
| Income taxes | 67/77 | €1,981 | €3,160 | +€1,179 | +59.5% |
| Profit (loss) for the period | 9904 | €3,050 | €3,572 | +€522 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,050 | €3,572 | +€522 | +17.1% |
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 1 November 2026 via checked.be.