XAGA: 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.
XAGA
Largest movements
- Receivables within one year +€359,909
up €359,909 (+5084.8%), from €7,078 to €366,987
of which Trade receivables: +€356,272
- Cash -€44,385
down €44,385 (-99.4%), from €44,634 to €249
mainly Receivables within one year (-€359,909) and Short-term financial debts (-€170,000)
- Financial fixed assets -€25,000
no longer reported in 2025 (was €25,000)
- Stocks and contracts -€22,995
down €22,995 (-8.5%), from €269,249 to €246,254
- Other debts +€336,860
up €336,860 (+1005.6%), from €33,498 to €370,358
- Short-term financial debts -€170,000
no longer reported in 2025 (was €170,000)
- Reserves +€61,872
up €61,872 (+52.2%), from €118,489 to €180,360
- Trade debts +€30,386
up €30,386 (+240.4%), from €12,638 to €43,024
- Advances received +€7,129
new in 2025: €7,129
- Financial income +€41,771
up €41,771 (+507.6%), from €8,229 to €50,000
of which Non-recurring financial income: +€50,000
- Gross operating margin -€21,866
down €21,866 (-41.8%), from €52,325 to €30,460
- Taxes -€5,396
down €5,396 (-51.3%), from €10,528 to €5,132
- Financial charges +€1,671
up €1,671 (+15.9%), from €10,523 to €12,193
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 | €347,036 | €614,202 | +€267,166 | +77.0% |
| Fixed assets | 21/28 | €26,076 | €712 | -€25,363 | -97.3% |
| Tangible fixed assets | 22/27 | €1,076 | €712 | -€363 | -33.8% |
| Furniture and vehicles | 24 | €1,076 | €712 | -€363 | -33.8% |
| Financial fixed assets | 28 | €25,000 | - | -€25,000 | |
| Current assets | 29/58 | €320,961 | €613,490 | +€292,529 | +91.1% |
| Stocks and contracts in progress | 3 | €269,249 | €246,254 | -€22,995 | -8.5% |
| Stocks | 30/36 | €269,249 | €246,254 | -€22,995 | -8.5% |
| Amounts receivable within one year | 40/41 | €7,078 | €366,987 | +€359,909 | +5084.8% |
| Trade receivables | 40 | €7,044 | €363,316 | +€356,272 | +5057.7% |
| Other amounts receivable | 41 | €34 | €3,671 | +€3,637 | +10731.6% |
| Cash at bank and in hand | 54/58 | €44,634 | €249 | -€44,385 | -99.4% |
| Total equity and liabilities | 10/49 | €347,036 | €614,202 | +€267,166 | +77.0% |
| Equity | 10/15 | €123,489 | €185,360 | +€61,872 | +50.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,489 | €180,360 | +€61,872 | +52.2% |
| Distributable reserves | 133 | €118,489 | €180,360 | +€61,872 | +52.2% |
| Amounts payable | 17/49 | €223,548 | €428,842 | +€205,294 | +91.8% |
| Amounts payable within one year | 42/48 | €218,860 | €420,511 | +€201,651 | +92.1% |
| Financial debts | 43 | €170,000 | - | -€170,000 | |
| Credit institutions | 430/8 | €170,000 | - | -€170,000 | |
| Trade debts | 44 | €12,638 | €43,024 | +€30,386 | +240.4% |
| Suppliers | 440/4 | €12,638 | €43,024 | +€30,386 | +240.4% |
| Advances received on contracts in progress | 46 | - | €7,129 | +€7,129 | |
| Taxes, remuneration and social security | 45 | €2,724 | - | -€2,724 | |
| Taxes | 450/3 | €2,724 | - | -€2,724 | |
| Other amounts payable | 47/48 | €33,498 | €370,358 | +€336,860 | +1005.6% |
| Accrued charges and deferred income | 492/3 | €4,688 | €8,331 | +€3,643 | +77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14 | €363 | +€349 | +2431.8% |
| Other operating charges | 640/8 | €719 | €900 | +€181 | +25.2% |
| Gross operating margin | 9900 | €52,325 | €30,460 | -€21,866 | -41.8% |
| Operating profit (loss) | 9901 | €51,592 | €29,196 | -€22,396 | -43.4% |
| Financial income | 75/76B | €8,229 | €50,000 | +€41,771 | +507.6% |
| Recurring financial income | 75 | €8,229 | €50,000 | +€41,771 | +507.6% |
| Non-recurring financial income | 76B | - | €50,000 | +€50,000 | |
| Financial charges | 65/66B | €10,523 | €12,193 | +€1,671 | +15.9% |
| Recurring financial charges | 65 | €10,523 | €12,193 | +€1,671 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €49,298 | €67,003 | +€17,705 | +35.9% |
| Income taxes | 67/77 | €10,528 | €5,132 | -€5,396 | -51.3% |
| Profit (loss) for the period | 9904 | €38,771 | €61,872 | +€23,101 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,771 | €61,872 | +€23,101 | +59.6% |
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 6 October 2026 via checked.be.