XAM: 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.
XAM
Largest movements
- Financial fixed assets -€405,107
down €405,107 (-16.7%), from €2.4m to €2.0m
- Current investments +€390,419
new in 2025: €390,419
- Short-term financial debts -€49,219
no longer reported in 2025 (was €49,219)
- Other debts +€49,219
new in 2025: €49,219
- Gross operating margin +€21,702
up €21,702 (+84.5%), from -€25,696 to -€3,994
- Financial income -€20,333
down €20,333 (-44.0%), from €46,258 to €25,925
- Financial charges +€18,906
up €18,906 (+65192.9%), from €29 to €18,935
- Taxes +€8,371
new in 2025: €8,371
- Other operating charges +€936
up €936 (+1510.4%), from €62 to €998
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 | €2,452,662 | €2,448,587 | -€4,075 | -0.2% |
| Fixed assets | 21/28 | €2,428,418 | €2,023,311 | -€405,107 | -16.7% |
| Financial fixed assets | 28 | €2,428,418 | €2,023,311 | -€405,107 | -16.7% |
| Current assets | 29/58 | €24,244 | €425,276 | +€401,032 | +1654.1% |
| Amounts receivable after more than one year | 29 | €20,640 | - | -€20,640 | |
| Other amounts receivable | 291 | €20,640 | - | -€20,640 | |
| Amounts receivable within one year | 40/41 | €3 | €21,466 | +€21,463 | +715420.0% |
| Other amounts receivable | 41 | €3 | €21,466 | +€21,463 | +715420.0% |
| Current investments | 50/53 | - | €390,419 | +€390,419 | |
| Cash at bank and in hand | 54/58 | €3,601 | €13,391 | +€9,790 | +271.9% |
| Total equity and liabilities | 10/49 | €2,452,662 | €2,448,587 | -€4,075 | -0.2% |
| Equity | 10/15 | €2,403,443 | €2,397,070 | -€6,373 | -0.3% |
| Contributions | 10/11 | €61,973 | €61,973 | +€0 | 0.0% |
| Capital | 10 | €61,973 | €61,973 | +€0 | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | +€0 | 0.0% |
| Reserves | 13 | €10,241 | €10,241 | +€0 | 0.0% |
| Distributable reserves | 133 | €10,241 | €10,241 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €2,331,229 | €2,324,856 | -€6,373 | -0.3% |
| Amounts payable | 17/49 | €49,219 | €51,517 | +€2,298 | +4.7% |
| Amounts payable within one year | 42/48 | €49,219 | €51,517 | +€2,298 | +4.7% |
| Financial debts | 43 | €49,219 | - | -€49,219 | |
| Other loans | 439 | €49,219 | - | -€49,219 | |
| Trade debts | 44 | - | €1,875 | +€1,875 | |
| Suppliers | 440/4 | - | €1,875 | +€1,875 | |
| Taxes, remuneration and social security | 45 | - | €423 | +€423 | |
| Taxes | 450/3 | - | €423 | +€423 | |
| Other amounts payable | 47/48 | - | €49,219 | +€49,219 | |
| Other operating charges | 640/8 | €62 | €998 | +€936 | +1510.4% |
| Gross operating margin | 9900 | -€25,696 | -€3,994 | +€21,702 | +84.5% |
| Operating profit (loss) | 9901 | -€25,758 | -€4,992 | +€20,766 | +80.6% |
| Financial income | 75/76B | €46,258 | €25,925 | -€20,333 | -44.0% |
| Recurring financial income | 75 | €46,258 | €25,925 | -€20,333 | -44.0% |
| Financial charges | 65/66B | €29 | €18,935 | +€18,906 | +65192.9% |
| Recurring financial charges | 65 | €29 | €18,935 | +€18,906 | +65192.9% |
| Profit (loss) for the period before taxes | 9903 | €20,471 | €1,998 | -€18,473 | -90.2% |
| Income taxes | 67/77 | - | €8,371 | +€8,371 | |
| Profit (loss) for the period | 9904 | €20,471 | -€6,374 | -€26,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,471 | -€6,374 | -€26,845 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.