XAGO: 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.
XAGO
Largest movements
- Receivables within one year +€58,449
up €58,449 (+119%), from €49,230 to €107,679
- Tangible fixed assets -€11,644
down €11,644 (-26.0%), from €44,810 to €33,166
of which Land and buildings: -€8,358
- Reserves +€48,293
up €48,293 (+21.3%), from €226,875 to €275,167
of which Distributable reserves: +€48,293
- Gross operating margin +€31,626
up €31,626 (+58.8%), from €53,779 to €85,405
- Taxes +€8,234
up €8,234 (+74.0%), from €11,131 to €19,365
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 | €285,985 | €332,893 | +€46,907 | +16.4% |
| Fixed assets | 21/28 | €44,810 | €33,166 | -€11,644 | -26.0% |
| Tangible fixed assets | 22/27 | €44,810 | €33,166 | -€11,644 | -26.0% |
| Land and buildings | 22 | €38,439 | €30,080 | -€8,358 | -21.7% |
| Plant, machinery and equipment | 23 | €2,877 | €1,293 | -€1,584 | -55.1% |
| Furniture and vehicles | 24 | €3,495 | €1,793 | -€1,702 | -48.7% |
| Current assets | 29/58 | €241,175 | €299,726 | +€58,552 | +24.3% |
| Amounts receivable within one year | 40/41 | €49,230 | €107,679 | +€58,449 | +119% |
| Trade receivables | 40 | €49,230 | €107,679 | +€58,449 | +119% |
| Cash at bank and in hand | 54/58 | €189,753 | €189,930 | +€177 | +0.1% |
| Deferred charges and accrued income | 490/1 | €2,191 | €2,118 | -€74 | -3.4% |
| Total equity and liabilities | 10/49 | €285,985 | €332,893 | +€46,907 | +16.4% |
| Equity | 10/15 | €233,075 | €281,367 | +€48,293 | +20.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €226,875 | €275,167 | +€48,293 | +21.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €225,015 | €273,307 | +€48,293 | +21.5% |
| Amounts payable | 17/49 | €52,910 | €51,525 | -€1,385 | -2.6% |
| Amounts payable within one year | 42/48 | €52,910 | €51,525 | -€1,385 | -2.6% |
| Trade debts | 44 | €393 | - | -€393 | |
| Suppliers | 440/4 | €393 | - | -€393 | |
| Taxes, remuneration and social security | 45 | €8,826 | €7,969 | -€856 | -9.7% |
| Taxes | 450/3 | €8,826 | €7,969 | -€856 | -9.7% |
| Other amounts payable | 47/48 | €43,691 | €43,556 | -€135 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,199 | €11,644 | -€555 | -4.5% |
| Other operating charges | 640/8 | €2,629 | €2,893 | +€264 | +10.0% |
| Gross operating margin | 9900 | €53,779 | €85,405 | +€31,626 | +58.8% |
| Operating profit (loss) | 9901 | €38,950 | €70,868 | +€31,917 | +81.9% |
| Financial charges | 65/66B | €2,594 | €3,210 | +€615 | +23.7% |
| Recurring financial charges | 65 | €2,594 | €3,210 | +€615 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €36,356 | €67,658 | +€31,302 | +86.1% |
| Income taxes | 67/77 | €11,131 | €19,365 | +€8,234 | +74.0% |
| Profit (loss) for the period | 9904 | €25,225 | €48,293 | +€23,068 | +91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,225 | €48,293 | +€23,068 | +91.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.