XANADU: 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.
XANADU
Largest movements
- Stocks and contracts -€2.2m
down €2.2m (-89.5%), from €2.4m to €257,657
- Receivables after one year +€411,000
new in 2025: €411,000
- Tangible fixed assets -€237,752
down €237,752 (-64.1%), from €371,090 to €133,337
of which Land and buildings: -€237,752
- Cash -€124,334
down €124,334 (-99.2%), from €125,296 to €963
mainly Debts after one year (-€2.2m) and Receivables after one year (-€411,000)
- Debts after one year -€2.2m
down €2.2m (-89.1%), from €2.4m to €263,488
of which Financial debts: -€2.2m
- Tax, wage and social debts -€44,454
down €44,454 (-68.4%), from €64,984 to €20,531
- Other debts +€39,936
up €39,936 (+36.9%), from €108,164 to €148,100
- Profit (loss) carried forward +€34,484
up €34,484 (+154%), from €22,346 to €56,830
- Financial charges -€69,160
down €69,160 (-51.9%), from €133,309 to €64,150
- Gross operating margin -€52,472
down €52,472 (-28.4%), from €184,670 to €132,198
- Taxes +€12,551
up €12,551 (+199%), from €6,312 to €18,863
- Depreciation -€7,296
down €7,296 (-42.6%), from €17,139 to €9,843
- Other operating charges -€4,170
down €4,170 (-43.2%), from €9,644 to €5,474
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 | €2,977,974 | €844,853 | -€2.1m | -71.6% |
| Fixed assets | 21/28 | €371,090 | €133,337 | -€237,752 | -64.1% |
| Tangible fixed assets | 22/27 | €371,090 | €133,337 | -€237,752 | -64.1% |
| Land and buildings | 22 | €371,090 | €133,337 | -€237,752 | -64.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €2,606,884 | €711,515 | -€1.9m | -72.7% |
| Amounts receivable after more than one year | 29 | - | €411,000 | +€411,000 | |
| Other amounts receivable | 291 | - | €411,000 | +€411,000 | |
| Stocks and contracts in progress | 3 | €2,448,165 | €257,657 | -€2.2m | -89.5% |
| Stocks | 30/36 | €2,448,165 | €257,657 | -€2.2m | -89.5% |
| Amounts receivable within one year | 40/41 | €33,423 | €41,895 | +€8,473 | +25.4% |
| Trade receivables | 40 | €16,335 | - | -€16,335 | |
| Other amounts receivable | 41 | €17,088 | €41,895 | +€24,808 | +145% |
| Cash at bank and in hand | 54/58 | €125,296 | €963 | -€124,334 | -99.2% |
| Total equity and liabilities | 10/49 | €2,977,974 | €844,853 | -€2.1m | -71.6% |
| Equity | 10/15 | €84,346 | €118,830 | +€34,484 | +40.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,346 | €56,830 | +€34,484 | +154% |
| Amounts payable | 17/49 | €2,893,627 | €726,023 | -€2.2m | -74.9% |
| Amounts payable after more than one year | 17 | €2,417,251 | €263,488 | -€2.2m | -89.1% |
| Financial debts | 170/4 | €2,404,751 | €250,988 | -€2.2m | -89.6% |
| Other amounts payable | 178/9 | €12,500 | €12,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €476,376 | €462,534 | -€13,842 | -2.9% |
| Trade debts | 44 | €303,228 | €293,904 | -€9,324 | -3.1% |
| Suppliers | 440/4 | €303,228 | €293,904 | -€9,324 | -3.1% |
| Taxes, remuneration and social security | 45 | €64,984 | €20,531 | -€44,454 | -68.4% |
| Taxes | 450/3 | €64,984 | €20,531 | -€44,454 | -68.4% |
| Other amounts payable | 47/48 | €108,164 | €148,100 | +€39,936 | +36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,139 | €9,843 | -€7,296 | -42.6% |
| Other operating charges | 640/8 | €9,644 | €5,474 | -€4,170 | -43.2% |
| Non-recurring operating charges | 66A | €3,053 | - | -€3,053 | |
| Gross operating margin | 9900 | €184,670 | €132,198 | -€52,472 | -28.4% |
| Operating profit (loss) | 9901 | €154,835 | €116,881 | -€37,953 | -24.5% |
| Financial income | 75/76B | €681 | €615 | -€66 | -9.7% |
| Recurring financial income | 75 | €681 | €615 | -€66 | -9.7% |
| Financial charges | 65/66B | €133,309 | €64,150 | -€69,160 | -51.9% |
| Recurring financial charges | 65 | €133,309 | €64,150 | -€69,160 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €22,207 | €53,347 | +€31,140 | +140% |
| Income taxes | 67/77 | €6,312 | €18,863 | +€12,551 | +199% |
| Profit (loss) for the period | 9904 | €15,894 | €34,484 | +€18,589 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €15,894 | €34,484 | +€18,589 | +117% |
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 25 October 2026 via checked.be.