X2C: 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.
X2C
Largest movements
- Cash -€15,829
down €15,829 (-14.9%), from €106,106 to €90,277
mainly Net result for the year (-€22,139) and Deferred charges and accrued income (-€4,912)
- Tangible fixed assets -€7,493
down €7,493 (-38.9%), from €19,264 to €11,772
of which Furniture and vehicles: -€7,175
- Deferred charges and accrued income +€4,912
up €4,912 (+39.0%), from €12,594 to €17,506
- Profit (loss) carried forward -€22,139
down €22,139 (-9.9%), from €223,931 to €201,792
- Advances received +€4,659
new in 2025: €4,659
- Taxes +€8,306
no longer reported in 2025 (was -€8,306)
- Gross operating margin -€4,095
down €4,095 (-42.4%), from -€9,669 to -€13,764
- Depreciation +€2,543
up €2,543 (+51.4%), from €4,950 to €7,493
- Other operating charges -€566
down €566 (-54.6%), from €1,037 to €471
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 | €233,074 | €215,446 | -€17,628 | -7.6% |
| Fixed assets | 21/28 | €20,539 | €13,047 | -€7,493 | -36.5% |
| Tangible fixed assets | 22/27 | €19,264 | €11,772 | -€7,493 | -38.9% |
| Plant, machinery and equipment | 23 | €456 | €139 | -€318 | -69.7% |
| Furniture and vehicles | 24 | €18,808 | €11,633 | -€7,175 | -38.1% |
| Financial fixed assets | 28 | €1,275 | €1,275 | = | 0.0% |
| Current assets | 29/58 | €212,535 | €202,400 | -€10,135 | -4.8% |
| Amounts receivable after more than one year | 29 | €88,186 | €88,186 | = | 0.0% |
| Other amounts receivable | 291 | €88,186 | €88,186 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,650 | €6,432 | +€782 | +13.8% |
| Trade receivables | 40 | €878 | €4,728 | +€3,850 | +438.5% |
| Other amounts receivable | 41 | €4,772 | €1,704 | -€3,068 | -64.3% |
| Cash at bank and in hand | 54/58 | €106,106 | €90,277 | -€15,829 | -14.9% |
| Deferred charges and accrued income | 490/1 | €12,594 | €17,506 | +€4,912 | +39.0% |
| Total equity and liabilities | 10/49 | €233,074 | €215,446 | -€17,628 | -7.6% |
| Equity | 10/15 | €231,991 | €209,852 | -€22,139 | -9.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,931 | €201,792 | -€22,139 | -9.9% |
| Amounts payable | 17/49 | €1,083 | €5,595 | +€4,512 | +416.6% |
| Amounts payable within one year | 42/48 | €1,083 | €5,595 | +€4,512 | +416.6% |
| Trade debts | 44 | €1,083 | €936 | -€147 | -13.6% |
| Suppliers | 440/4 | €1,083 | €936 | -€147 | -13.6% |
| Advances received on contracts in progress | 46 | - | €4,659 | +€4,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,950 | €7,493 | +€2,543 | +51.4% |
| Other operating charges | 640/8 | €1,037 | €471 | -€566 | -54.6% |
| Gross operating margin | 9900 | -€9,669 | -€13,764 | -€4,095 | -42.4% |
| Operating profit (loss) | 9901 | -€15,657 | -€21,728 | -€6,071 | -38.8% |
| Financial charges | 65/66B | €409 | €411 | +€2 | +0.5% |
| Recurring financial charges | 65 | €409 | €411 | +€2 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,066 | -€22,139 | -€6,074 | -37.8% |
| Income taxes | 67/77 | -€8,306 | - | +€8,306 | |
| Profit (loss) for the period | 9904 | -€7,759 | -€22,139 | -€14,380 | -185.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,759 | -€22,139 | -€14,380 | -185.3% |
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 28 September 2026 via checked.be.