XANDEL: 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.
XANDEL
Largest movements
- Cash +€1.5m
up €1.5m (+9,262%), from €16,531 to €1.5m
mainly Current investments (+€626,219) and Receivables within one year (+€540,198)
- Current investments -€626,219
down €626,219 (-24.6%), from €2.5m to €1.9m
- Receivables within one year -€540,198
down €540,198 (-97.1%), from €556,170 to €15,972
of which Trade receivables: -€527,350
- Reserves +€440,814
up €440,814 (+21.0%), from €2.1m to €2.5m
- Other debts -€84,918
down €84,918 (-29.0%), from €292,962 to €208,044
- Financial income +€41,024
up €41,024 (+68.9%), from €59,547 to €100,571
- Financial charges +€30,108
up €30,108 (+90.3%), from €33,345 to €63,453
- Gross operating margin -€22,088
down €22,088 (-3.5%), from €629,245 to €607,157
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 | €3,225,269 | €3,555,947 | +€330,678 | +10.3% |
| Fixed assets | 21/28 | €74,368 | €74,368 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €74,368 | €74,368 | = | 0.0% |
| Current assets | 29/58 | €3,150,901 | €3,481,579 | +€330,678 | +10.5% |
| Amounts receivable within one year | 40/41 | €556,170 | €15,972 | -€540,198 | -97.1% |
| Trade receivables | 40 | €543,322 | €15,972 | -€527,350 | -97.1% |
| Other amounts receivable | 41 | €12,848 | €0 | -€12,848 | -100% |
| Current investments | 50/53 | €2,542,769 | €1,916,550 | -€626,219 | -24.6% |
| Cash at bank and in hand | 54/58 | €16,531 | €1,547,590 | +€1.5m | +9,262% |
| Deferred charges and accrued income | 490/1 | €35,432 | €1,467 | -€33,965 | -95.9% |
| Total equity and liabilities | 10/49 | €3,225,269 | €3,555,947 | +€330,678 | +10.3% |
| Equity | 10/15 | €2,719,779 | €3,160,593 | +€440,814 | +16.2% |
| Contributions | 10/11 | €625,245 | €625,245 | = | 0.0% |
| Reserves | 13 | €2,094,534 | €2,535,348 | +€440,814 | +21.0% |
| Distributable reserves | 133 | €2,094,534 | €2,535,348 | +€440,814 | +21.0% |
| Amounts payable | 17/49 | €505,490 | €395,354 | -€110,136 | -21.8% |
| Amounts payable within one year | 42/48 | €468,953 | €376,626 | -€92,327 | -19.7% |
| Trade debts | 44 | €8,377 | €3,188 | -€5,189 | -61.9% |
| Suppliers | 440/4 | €8,377 | €3,188 | -€5,189 | -61.9% |
| Taxes, remuneration and social security | 45 | €167,614 | €165,394 | -€2,220 | -1.3% |
| Taxes | 450/3 | €167,614 | €165,394 | -€2,220 | -1.3% |
| Other amounts payable | 47/48 | €292,962 | €208,044 | -€84,918 | -29.0% |
| Accrued charges and deferred income | 492/3 | €36,536 | €18,728 | -€17,808 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €0 | -€0 | -100% |
| Other operating charges | 640/8 | €2,365 | €3,039 | +€674 | +28.5% |
| Gross operating margin | 9900 | €629,245 | €607,157 | -€22,088 | -3.5% |
| Operating profit (loss) | 9901 | €626,879 | €604,118 | -€22,762 | -3.6% |
| Financial income | 75/76B | €59,547 | €100,571 | +€41,024 | +68.9% |
| Recurring financial income | 75 | €59,547 | €100,571 | +€41,024 | +68.9% |
| Financial charges | 65/66B | €33,345 | €63,453 | +€30,108 | +90.3% |
| Recurring financial charges | 65 | €33,345 | €63,453 | +€30,108 | +90.3% |
| Profit (loss) for the period before taxes | 9903 | €653,082 | €641,236 | -€11,846 | -1.8% |
| Income taxes | 67/77 | €204,120 | €200,423 | -€3,697 | -1.8% |
| Profit (loss) for the period | 9904 | €448,962 | €440,814 | -€8,149 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €448,962 | €440,814 | -€8,149 | -1.8% |
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 27 October 2026 via checked.be.