XANTHIPPE: 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.
XANTHIPPE
Largest movements
- Receivables within one year +€54,458
up €54,458 (+17.2%), from €315,966 to €370,423
of which Other amounts receivable: +€49,970
- Tangible fixed assets -€37,491
down €37,491 (-26.1%), from €143,607 to €106,117
of which Other tangible fixed assets: -€24,807
- Intangible fixed assets -€21,910
down €21,910 (-25.3%), from €86,652 to €64,742
- Cash -€9,484
down €9,484 (-91.4%), from €10,376 to €892
mainly Debts after one year (-€75,075) and Receivables within one year (-€54,458)
- Debts after one year -€75,075
down €75,075 (-19.7%), from €380,849 to €305,774
- Profit (loss) carried forward +€38,495
up €38,495, from -€38,495 to €0
- Other debts +€14,768
up €14,768 (+40.8%), from €36,236 to €51,005
- Staff costs -€21,784
down €21,784 (-7.9%), from €275,446 to €253,661
- Depreciation +€15,736
up €15,736 (+22.7%), from €69,267 to €85,003
- Taxes +€11,315
up €11,315 (+260.8%), from €4,339 to €15,654
- Gross operating margin -€9,133
down €9,133 (-2.2%), from €415,256 to €406,124
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 | €566,603 | €553,064 | -€13,539 | -2.4% |
| Fixed assets | 21/28 | €230,460 | €171,059 | -€59,401 | -25.8% |
| Intangible fixed assets | 21 | €86,652 | €64,742 | -€21,910 | -25.3% |
| Tangible fixed assets | 22/27 | €143,607 | €106,117 | -€37,491 | -26.1% |
| Plant, machinery and equipment | 23 | €471 | €3,808 | +€3,337 | +708.5% |
| Furniture and vehicles | 24 | €14,998 | €7,836 | -€7,162 | -47.8% |
| Other tangible fixed assets | 26 | €93,153 | €68,346 | -€24,807 | -26.6% |
| Assets under construction and advance payments | 27 | €34,986 | €26,128 | -€8,858 | -25.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €336,144 | €382,005 | +€45,861 | +13.6% |
| Amounts receivable within one year | 40/41 | €315,966 | €370,423 | +€54,458 | +17.2% |
| Trade receivables | 40 | €30,320 | €34,807 | +€4,487 | +14.8% |
| Other amounts receivable | 41 | €285,646 | €335,616 | +€49,970 | +17.5% |
| Cash at bank and in hand | 54/58 | €10,376 | €892 | -€9,484 | -91.4% |
| Deferred charges and accrued income | 490/1 | €9,802 | €10,690 | +€888 | +9.1% |
| Total equity and liabilities | 10/49 | €566,603 | €553,064 | -€13,539 | -2.4% |
| Equity | 10/15 | -€14,295 | €27,000 | +€41,295 | |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €2,200 | €5,000 | +€2,800 | +127.3% |
| Distributable reserves | 133 | €2,200 | €5,000 | +€2,800 | +127.3% |
| Profit (loss) carried forward | 14 | -€38,495 | €0 | +€38,495 | |
| Amounts payable | 17/49 | €580,898 | €526,064 | -€54,834 | -9.4% |
| Amounts payable after more than one year | 17 | €380,849 | €305,774 | -€75,075 | -19.7% |
| Financial debts | 170/4 | €380,849 | €305,774 | -€75,075 | -19.7% |
| Amounts payable within one year | 42/48 | €200,049 | €218,290 | +€18,241 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €42,514 | €45,075 | +€2,561 | +6.0% |
| Financial debts | 43 | €33,676 | €37,439 | +€3,763 | +11.2% |
| Credit institutions | 430/8 | €33,676 | €37,439 | +€3,763 | +11.2% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €12,883 | €13,012 | +€129 | +1.0% |
| Suppliers | 440/4 | €12,883 | €13,012 | +€129 | +1.0% |
| Taxes, remuneration and social security | 45 | €74,740 | €71,760 | -€2,980 | -4.0% |
| Taxes | 450/3 | €39,428 | €47,089 | +€7,661 | +19.4% |
| Remuneration and social security | 454/9 | €35,312 | €24,670 | -€10,642 | -30.1% |
| Other amounts payable | 47/48 | €36,236 | €51,005 | +€14,768 | +40.8% |
| Accrued charges and deferred income | 492/3 | - | €2,000 | +€2,000 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €275,446 | €253,661 | -€21,784 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,267 | €85,003 | +€15,736 | +22.7% |
| Other operating charges | 640/8 | €829 | €652 | -€177 | -21.3% |
| Gross operating margin | 9900 | €415,256 | €406,124 | -€9,133 | -2.2% |
| Operating profit (loss) | 9901 | €69,715 | €66,808 | -€2,908 | -4.2% |
| Financial income | 75/76B | €244 | €132 | -€112 | -46.0% |
| Recurring financial income | 75 | €244 | €132 | -€112 | -46.0% |
| Financial charges | 65/66B | €11,621 | €9,990 | -€1,631 | -14.0% |
| Recurring financial charges | 65 | €11,621 | €9,990 | -€1,631 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €58,338 | €56,950 | -€1,388 | -2.4% |
| Income taxes | 67/77 | €4,339 | €15,654 | +€11,315 | +260.8% |
| Profit (loss) for the period | 9904 | €53,999 | €41,295 | -€12,703 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,999 | €41,295 | -€12,703 | -23.5% |
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 29 September 2026 via checked.be.