XABELLE: 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.
XABELLE
Largest movements
- Tangible fixed assets -€20,852
down €20,852 (-9.0%), from €232,301 to €211,448
of which Furniture and vehicles: -€16,715
- Cash +€9,359
up €9,359 (+164.3%), from €5,696 to €15,055
mainly Net result for the year (+€57,645) and Depreciation (+€37,905)
- Receivables within one year -€9,005
down €9,005 (-43.1%), from €20,906 to €11,901
of which Other amounts receivable: -€8,447
- Reserves +€27,600
up €27,600 (+12.7%), from €216,790 to €244,390
of which Non-distributable reserves: +€57,600
- Debts after one year -€20,828
down €20,828 (-64.1%), from €32,510 to €11,681
- Other debts -€12,937
down €12,937 (-68.8%), from €18,790 to €5,854
- Profit (loss) carried forward -€9,955
down €9,955 (-67.5%), from €14,738 to €4,783
- Tax, wage and social debts -€4,500
no longer reported in 2025 (was €4,500)
- Gross operating margin +€16,177
up €16,177 (+14.4%), from €111,986 to €128,163
- Taxes +€6,633
up €6,633 (+31.6%), from €21,015 to €27,648
- Depreciation -€3,605
down €3,605 (-8.7%), from €41,510 to €37,905
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 | €359,849 | €339,339 | -€20,511 | -5.7% |
| Fixed assets | 21/28 | €327,696 | €306,448 | -€21,247 | -6.5% |
| Intangible fixed assets | 21 | €395 | - | -€395 | |
| Tangible fixed assets | 22/27 | €232,301 | €211,448 | -€20,852 | -9.0% |
| Land and buildings | 22 | €130,032 | €130,195 | +€162 | +0.1% |
| Furniture and vehicles | 24 | €56,225 | €39,510 | -€16,715 | -29.7% |
| Other tangible fixed assets | 26 | €46,043 | €41,743 | -€4,300 | -9.3% |
| Financial fixed assets | 28 | €95,000 | €95,000 | = | 0.0% |
| Current assets | 29/58 | €32,154 | €32,890 | +€736 | +2.3% |
| Amounts receivable within one year | 40/41 | €20,906 | €11,901 | -€9,005 | -43.1% |
| Trade receivables | 40 | €12,219 | €11,661 | -€558 | -4.6% |
| Other amounts receivable | 41 | €8,687 | €240 | -€8,447 | -97.2% |
| Cash at bank and in hand | 54/58 | €5,696 | €15,055 | +€9,359 | +164.3% |
| Deferred charges and accrued income | 490/1 | €5,552 | €5,935 | +€383 | +6.9% |
| Total equity and liabilities | 10/49 | €359,849 | €339,339 | -€20,511 | -5.7% |
| Equity | 10/15 | €268,728 | €286,373 | +€17,645 | +6.6% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €216,790 | €244,390 | +€27,600 | +12.7% |
| Non-distributable reserves | 130/1 | €135,790 | €193,390 | +€57,600 | +42.4% |
| Reserves not available under the articles | 1311 | €135,790 | €193,390 | +€57,600 | +42.4% |
| Distributable reserves | 133 | €81,000 | €51,000 | -€30,000 | -37.0% |
| Profit (loss) carried forward | 14 | €14,738 | €4,783 | -€9,955 | -67.5% |
| Amounts payable | 17/49 | €91,121 | €52,965 | -€38,156 | -41.9% |
| Amounts payable after more than one year | 17 | €32,510 | €11,681 | -€20,828 | -64.1% |
| Financial debts | 170/4 | €32,510 | €11,681 | -€20,828 | -64.1% |
| Amounts payable within one year | 42/48 | €57,618 | €40,290 | -€17,328 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €29,719 | €28,984 | -€735 | -2.5% |
| Financial debts | 43 | €4,194 | €1,393 | -€2,800 | -66.8% |
| Credit institutions | 430/8 | €4,194 | €1,393 | -€2,800 | -66.8% |
| Trade debts | 44 | €415 | €4,059 | +€3,644 | +877.1% |
| Suppliers | 440/4 | €415 | €4,059 | +€3,644 | +877.1% |
| Taxes, remuneration and social security | 45 | €4,500 | - | -€4,500 | |
| Taxes | 450/3 | €4,500 | - | -€4,500 | |
| Other amounts payable | 47/48 | €18,790 | €5,854 | -€12,937 | -68.8% |
| Accrued charges and deferred income | 492/3 | €994 | €994 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,510 | €37,905 | -€3,605 | -8.7% |
| Other operating charges | 640/8 | €1,901 | €2,065 | +€164 | +8.6% |
| Non-recurring operating charges | 66A | €3,490 | - | -€3,490 | |
| Gross operating margin | 9900 | €111,986 | €128,163 | +€16,177 | +14.4% |
| Operating profit (loss) | 9901 | €65,085 | €88,194 | +€23,108 | +35.5% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €3,942 | €2,900 | -€1,042 | -26.4% |
| Recurring financial charges | 65 | €3,942 | €2,900 | -€1,042 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €61,147 | €85,293 | +€24,147 | +39.5% |
| Income taxes | 67/77 | €21,015 | €27,648 | +€6,633 | +31.6% |
| Profit (loss) for the period | 9904 | €40,131 | €57,645 | +€17,514 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,131 | €57,645 | +€17,514 | +43.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.