XAMADE: 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.
XAMADE
Largest movements
- Cash +€117,915
up €117,915 (+2094.4%), from €5,630 to €123,544
mainly Net result for the year (+€110,285) and Depreciation (+€82,914)
- Tangible fixed assets -€77,938
down €77,938 (-7.6%), from €1.0m to €942,382
of which Land and buildings: -€55,184
- Receivables within one year -€23,802
down €23,802 (-16.3%), from €145,954 to €122,152
of which Trade receivables: -€23,866
- Reserves +€110,285
up €110,285 (+25.8%), from €428,107 to €538,392
of which Distributable reserves: +€116,372
- Debts after one year -€55,769
down €55,769 (-19.2%), from €289,886 to €234,117
- Current portion of long-term debt -€32,625
down €32,625 (-68.8%), from €47,394 to €14,769
- Tax, wage and social debts +€18,277
up €18,277 (+89.4%), from €20,445 to €38,723
- Short-term financial debts -€16,667
down €16,667 (-50.0%), from €33,333 to €16,667
- Gross operating margin +€20,058
up €20,058 (+8.0%), from €249,793 to €269,851
- Taxes +€8,391
up €8,391 (+20.2%), from €41,524 to €49,915
- Financial charges -€6,422
down €6,422 (-23.8%), from €26,954 to €20,532
- Other operating charges -€2,701
down €2,701 (-25.9%), from €10,428 to €7,726
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 | €1,176,786 | €1,189,420 | +€12,635 | +1.1% |
| Fixed assets | 21/28 | €1,020,320 | €942,382 | -€77,938 | -7.6% |
| Tangible fixed assets | 22/27 | €1,020,320 | €942,382 | -€77,938 | -7.6% |
| Land and buildings | 22 | €944,846 | €889,662 | -€55,184 | -5.8% |
| Plant, machinery and equipment | 23 | €18,055 | €20,672 | +€2,617 | +14.5% |
| Furniture and vehicles | 24 | €57,419 | €32,048 | -€25,371 | -44.2% |
| Current assets | 29/58 | €156,466 | €247,038 | +€90,572 | +57.9% |
| Amounts receivable within one year | 40/41 | €145,954 | €122,152 | -€23,802 | -16.3% |
| Trade receivables | 40 | €145,388 | €121,522 | -€23,866 | -16.4% |
| Other amounts receivable | 41 | €566 | €630 | +€64 | +11.3% |
| Cash at bank and in hand | 54/58 | €5,630 | €123,544 | +€117,915 | +2094.4% |
| Deferred charges and accrued income | 490/1 | €4,882 | €1,342 | -€3,540 | -72.5% |
| Total equity and liabilities | 10/49 | €1,176,786 | €1,189,420 | +€12,635 | +1.1% |
| Equity | 10/15 | €719,007 | €829,292 | +€110,285 | +15.3% |
| Contributions | 10/11 | €290,900 | €290,900 | = | 0.0% |
| Reserves | 13 | €428,107 | €538,392 | +€110,285 | +25.8% |
| Tax-exempt reserves | 132 | €111,581 | €105,495 | -€6,087 | -5.5% |
| Distributable reserves | 133 | €316,526 | €432,898 | +€116,372 | +36.8% |
| Provisions and deferred taxes | 16 | €27,892 | €26,371 | -€1,522 | -5.5% |
| Deferred taxes | 168 | €27,892 | €26,371 | -€1,522 | -5.5% |
| Amounts payable | 17/49 | €429,887 | €333,758 | -€96,129 | -22.4% |
| Amounts payable after more than one year | 17 | €289,886 | €234,117 | -€55,769 | -19.2% |
| Financial debts | 170/4 | €289,886 | €234,117 | -€55,769 | -19.2% |
| Amounts payable within one year | 42/48 | €117,967 | €82,816 | -€35,151 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €47,394 | €14,769 | -€32,625 | -68.8% |
| Financial debts | 43 | €33,333 | €16,667 | -€16,667 | -50.0% |
| Credit institutions | 430/8 | €33,333 | €16,667 | -€16,667 | -50.0% |
| Trade debts | 44 | €10,409 | €6,401 | -€4,009 | -38.5% |
| Suppliers | 440/4 | €10,409 | €6,401 | -€4,009 | -38.5% |
| Taxes, remuneration and social security | 45 | €20,445 | €38,723 | +€18,277 | +89.4% |
| Taxes | 450/3 | €20,445 | €38,723 | +€18,277 | +89.4% |
| Other amounts payable | 47/48 | €6,385 | €6,258 | -€128 | -2.0% |
| Accrued charges and deferred income | 492/3 | €22,033 | €16,824 | -€5,209 | -23.6% |
| Non-recurring operating income | 76A | €0 | €2,314 | +€2,314 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,424 | €82,914 | +€490 | +0.6% |
| Other operating charges | 640/8 | €10,428 | €7,726 | -€2,701 | -25.9% |
| Gross operating margin | 9900 | €249,793 | €269,851 | +€20,058 | +8.0% |
| Operating profit (loss) | 9901 | €156,941 | €179,210 | +€22,269 | +14.2% |
| Financial income | 75/76B | €40 | €0 | -€40 | -100.0% |
| Recurring financial income | 75 | €40 | €0 | -€40 | -100.0% |
| Financial charges | 65/66B | €26,954 | €20,532 | -€6,422 | -23.8% |
| Recurring financial charges | 65 | €26,954 | €20,532 | -€6,422 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €130,027 | €158,678 | +€28,651 | +22.0% |
| Transfer from deferred taxes | 780 | €1,522 | €1,522 | = | 0.0% |
| Income taxes | 67/77 | €41,524 | €49,915 | +€8,391 | +20.2% |
| Profit (loss) for the period | 9904 | €90,025 | €110,285 | +€20,260 | +22.5% |
| Transfer from tax-exempt reserves | 789 | €6,087 | €6,087 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,111 | €116,372 | +€20,260 | +21.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.