XANZI: 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.
XANZI
Largest movements
- Cash +€44,865
up €44,865 (+152%), from €29,532 to €74,397
mainly Net result for the year (+€45,126) and Depreciation (+€37,051)
- Tangible fixed assets -€29,608
down €29,608 (-32.2%), from €91,883 to €62,275
- Reserves +€36,538
up €36,538 (+25.6%), from €142,915 to €179,453
of which Distributable reserves: +€78,638
- Trade debts -€19,478
down €19,478 (-36.4%), from €53,453 to €33,975
- Debts after one year -€10,935
down €10,935 (-9.5%), from €115,614 to €104,679
- Current portion of long-term debt -€10,129
down €10,129 (-48.1%), from €21,065 to €10,935
- Tax, wage and social debts +€8,667
up €8,667 (+19.8%), from €43,707 to €52,374
of which Taxes: +€5,338
- Gross operating margin +€39,769
up €39,769 (+21.0%), from €189,176 to €228,945
- Staff costs +€12,359
up €12,359 (+9.0%), from €137,093 to €149,452
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 | €756,291 | €770,337 | +€14,046 | +1.9% |
| Fixed assets | 21/28 | €97,758 | €62,275 | -€35,483 | -36.3% |
| Intangible fixed assets | 21 | €5,875 | - | -€5,875 | |
| Tangible fixed assets | 22/27 | €91,883 | €62,275 | -€29,608 | -32.2% |
| Plant, machinery and equipment | 23 | €56,069 | €41,293 | -€14,776 | -26.4% |
| Furniture and vehicles | 24 | €20,803 | €8,283 | -€12,520 | -60.2% |
| Other tangible fixed assets | 26 | €15,011 | €12,699 | -€2,312 | -15.4% |
| Current assets | 29/58 | €658,534 | €708,063 | +€49,529 | +7.5% |
| Stocks and contracts in progress | 3 | €596,981 | €598,267 | +€1,286 | +0.2% |
| Stocks | 30/36 | €596,981 | €598,267 | +€1,286 | +0.2% |
| Amounts receivable within one year | 40/41 | €32,021 | €35,398 | +€3,377 | +10.5% |
| Trade receivables | 40 | €7,195 | €10,921 | +€3,726 | +51.8% |
| Other amounts receivable | 41 | €24,826 | €24,477 | -€349 | -1.4% |
| Cash at bank and in hand | 54/58 | €29,532 | €74,397 | +€44,865 | +152% |
| Total equity and liabilities | 10/49 | €756,291 | €770,337 | +€14,046 | +1.9% |
| Equity | 10/15 | €204,327 | €249,453 | +€45,126 | +22.1% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €142,915 | €179,453 | +€36,538 | +25.6% |
| Non-distributable reserves | 130/1 | €2,545 | €2,545 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,545 | €2,545 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | - | -€42,100 | |
| Distributable reserves | 133 | €98,270 | €176,908 | +€78,638 | +80.0% |
| Profit (loss) carried forward | 14 | -€8,588 | - | +€8,588 | |
| Amounts payable | 17/49 | €551,964 | €520,884 | -€31,080 | -5.6% |
| Amounts payable after more than one year | 17 | €115,614 | €104,679 | -€10,935 | -9.5% |
| Financial debts | 170/4 | €115,614 | €104,679 | -€10,935 | -9.5% |
| Amounts payable within one year | 42/48 | €436,350 | €416,205 | -€20,145 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €21,065 | €10,935 | -€10,129 | -48.1% |
| Financial debts | 43 | €73,000 | €73,000 | = | 0.0% |
| Other loans | 439 | €73,000 | €73,000 | = | 0.0% |
| Trade debts | 44 | €53,453 | €33,975 | -€19,478 | -36.4% |
| Suppliers | 440/4 | €53,453 | €33,975 | -€19,478 | -36.4% |
| Advances received on contracts in progress | 46 | - | €1,228 | +€1,228 | |
| Taxes, remuneration and social security | 45 | €43,707 | €52,374 | +€8,667 | +19.8% |
| Taxes | 450/3 | €17,623 | €22,961 | +€5,338 | +30.3% |
| Remuneration and social security | 454/9 | €26,084 | €29,413 | +€3,328 | +12.8% |
| Other amounts payable | 47/48 | €245,125 | €244,693 | -€432 | -0.2% |
| Remuneration, social security and pensions | 62 | €137,093 | €149,452 | +€12,359 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,926 | €37,051 | -€1,875 | -4.8% |
| Other operating charges | 640/8 | €4,265 | €3,638 | -€627 | -14.7% |
| Gross operating margin | 9900 | €189,176 | €228,945 | +€39,769 | +21.0% |
| Operating profit (loss) | 9901 | €8,893 | €38,804 | +€29,912 | +336% |
| Financial income | 75/76B | €8,509 | €9,722 | +€1,213 | +14.3% |
| Recurring financial income | 75 | €8,509 | €9,722 | +€1,213 | +14.3% |
| Financial charges | 65/66B | €4,096 | €3,894 | -€202 | -4.9% |
| Recurring financial charges | 65 | €4,096 | €3,894 | -€202 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €13,305 | €44,632 | +€31,327 | +235% |
| Income taxes | 67/77 | €690 | -€494 | -€1,184 | |
| Profit (loss) for the period | 9904 | €12,615 | €45,126 | +€32,511 | +258% |
| Transfer from tax-exempt reserves | 789 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,715 | €87,226 | +€32,511 | +59.4% |
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 18 October 2026 via checked.be.