XALU: 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.
XALU
Largest movements
- Receivables within one year +€140,951
up €140,951 (+73.8%), from €191,030 to €331,981
of which Trade receivables: +€140,951
- Tangible fixed assets -€68,688
down €68,688 (-27.3%), from €251,639 to €182,952
of which Plant, machinery and equipment: -€58,557
- Stocks and contracts +€49,044
up €49,044 (+13.2%), from €371,352 to €420,397
- Cash -€21,991
down €21,991 (-96.4%), from €22,824 to €833
mainly Net result for the year (-€339,930) and Receivables within one year (-€140,951)
- Intangible fixed assets +€18,123
up €18,123 (+99.2%), from €18,260 to €36,384
- Other debts +€367,033
up €367,033 (+48.4%), from €757,733 to €1.1m
- Profit (loss) carried forward -€339,930
down €339,930 (-26.7%), from -€1.3m to -€1.6m
- Tax, wage and social debts +€94,041
up €94,041 (+119%), from €79,080 to €173,121
of which Taxes: +€49,526
- Accrued charges and deferred income -€13,464
down €13,464 (-80.6%), from €16,700 to €3,236
- Trade debts +€11,068
up €11,068 (+7.7%), from €144,465 to €155,533
- Gross operating margin +€311,098
up €311,098, from -€5,703 to €305,395
- Staff costs +€70,932
up €70,932 (+15.5%), from €456,877 to €527,809
- Depreciation +€5,276
up €5,276 (+6.3%), from €83,360 to €88,637
- Financial charges +€4,734
up €4,734 (+22.2%), from €21,374 to €26,109
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 | €864,211 | €981,571 | +€117,360 | +13.6% |
| Fixed assets | 21/28 | €269,900 | €219,335 | -€50,565 | -18.7% |
| Intangible fixed assets | 21 | €18,260 | €36,384 | +€18,123 | +99.2% |
| Tangible fixed assets | 22/27 | €251,639 | €182,952 | -€68,688 | -27.3% |
| Plant, machinery and equipment | 23 | €211,607 | €153,050 | -€58,557 | -27.7% |
| Furniture and vehicles | 24 | €31,261 | €22,441 | -€8,820 | -28.2% |
| Other tangible fixed assets | 26 | €8,772 | €7,460 | -€1,312 | -15.0% |
| Current assets | 29/58 | €594,311 | €762,236 | +€167,925 | +28.3% |
| Stocks and contracts in progress | 3 | €371,352 | €420,397 | +€49,044 | +13.2% |
| Stocks | 30/36 | €371,352 | €420,397 | +€49,044 | +13.2% |
| Amounts receivable within one year | 40/41 | €191,030 | €331,981 | +€140,951 | +73.8% |
| Trade receivables | 40 | €191,030 | €331,981 | +€140,951 | +73.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €22,824 | €833 | -€21,991 | -96.4% |
| Deferred charges and accrued income | 490/1 | €9,105 | €9,026 | -€80 | -0.9% |
| Total equity and liabilities | 10/49 | €864,211 | €981,571 | +€117,360 | +13.6% |
| Equity | 10/15 | -€526,752 | -€866,681 | -€339,930 | -64.5% |
| Contributions | 10/11 | €735,000 | €735,000 | = | 0.0% |
| Capital | 10 | €735,000 | €735,000 | = | 0.0% |
| Issued capital | 100 | €735,000 | €735,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,271,752 | -€1,611,681 | -€339,930 | -26.7% |
| Provisions and deferred taxes | 16 | €242,986 | €241,597 | -€1,389 | -0.6% |
| Provisions for liabilities and charges | 160/5 | €242,986 | €241,597 | -€1,389 | -0.6% |
| Other liabilities and charges | 164/5 | €242,986 | €241,597 | -€1,389 | -0.6% |
| Amounts payable | 17/49 | €1,147,977 | €1,606,656 | +€458,678 | +40.0% |
| Amounts payable within one year | 42/48 | €1,131,277 | €1,603,420 | +€472,142 | +41.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €144,465 | €155,533 | +€11,068 | +7.7% |
| Suppliers | 440/4 | €144,465 | €155,533 | +€11,068 | +7.7% |
| Taxes, remuneration and social security | 45 | €79,080 | €173,121 | +€94,041 | +119% |
| Taxes | 450/3 | €11,228 | €60,754 | +€49,526 | +441% |
| Remuneration and social security | 454/9 | €67,852 | €112,367 | +€44,515 | +65.6% |
| Other amounts payable | 47/48 | €757,733 | €1,124,766 | +€367,033 | +48.4% |
| Accrued charges and deferred income | 492/3 | €16,700 | €3,236 | -€13,464 | -80.6% |
| Non-recurring operating income | 76A | €4,845 | €1,389 | -€3,456 | -71.3% |
| Remuneration, social security and pensions | 62 | €456,877 | €527,809 | +€70,932 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,360 | €88,637 | +€5,276 | +6.3% |
| Other operating charges | 640/8 | €2,443 | €2,473 | +€30 | +1.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€5,703 | €305,395 | +€311,098 | |
| Operating profit (loss) | 9901 | -€548,383 | -€313,524 | +€234,859 | +42.8% |
| Financial income | 75/76B | €614 | €25 | -€590 | -95.9% |
| Recurring financial income | 75 | €614 | €25 | -€590 | -95.9% |
| Financial charges | 65/66B | €21,374 | €26,109 | +€4,734 | +22.2% |
| Recurring financial charges | 65 | €21,374 | €26,109 | +€4,734 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | -€569,142 | -€339,608 | +€229,535 | +40.3% |
| Income taxes | 67/77 | - | €322 | +€322 | |
| Profit (loss) for the period | 9904 | -€569,142 | -€339,930 | +€229,213 | +40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€569,142 | -€339,930 | +€229,213 | +40.3% |
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 22 October 2026 via checked.be.