XARS: 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.
XARS
Largest movements
- Cash +€26,566
up €26,566 (+162.5%), from €16,353 to €42,919
mainly Net result for the year (+€49,657) and Depreciation (+€7,576)
- Stocks and contracts +€15,527
new in 2025: €15,527
- Deferred charges and accrued income +€7,827
up €7,827 (+408.4%), from €1,917 to €9,743
- Tangible fixed assets -€7,576
down €7,576 (-34.2%), from €22,153 to €14,578
- Receivables within one year -€5,167
down €5,167 (-56.3%), from €9,175 to €4,008
of which Trade receivables: -€9,075
- Reserves +€49,657
up €49,657 (+273.3%), from €18,171 to €67,829
- Other debts -€19,292
down €19,292 (-100.0%), from €19,292 to €0
- Tax, wage and social debts +€6,500
up €6,500 (+74.4%), from €8,732 to €15,232
- Gross operating margin +€51,562
up €51,562 (+198.7%), from €25,949 to €77,511
- Taxes +€12,395
up €12,395 (+186.5%), from €6,645 to €19,040
- Depreciation +€6,999
up €6,999 (+1214.3%), from €576 to €7,576
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 | €49,598 | €86,775 | +€37,177 | +75.0% |
| Fixed assets | 21/28 | €22,153 | €14,578 | -€7,576 | -34.2% |
| Tangible fixed assets | 22/27 | €22,153 | €14,578 | -€7,576 | -34.2% |
| Furniture and vehicles | 24 | €22,153 | €14,578 | -€7,576 | -34.2% |
| Current assets | 29/58 | €27,444 | €72,197 | +€44,753 | +163.1% |
| Stocks and contracts in progress | 3 | - | €15,527 | +€15,527 | |
| Stocks | 30/36 | - | €15,527 | +€15,527 | |
| Amounts receivable within one year | 40/41 | €9,175 | €4,008 | -€5,167 | -56.3% |
| Trade receivables | 40 | €9,075 | €0 | -€9,075 | -100.0% |
| Other amounts receivable | 41 | €100 | €4,008 | +€3,908 | +3907.6% |
| Cash at bank and in hand | 54/58 | €16,353 | €42,919 | +€26,566 | +162.5% |
| Deferred charges and accrued income | 490/1 | €1,917 | €9,743 | +€7,827 | +408.4% |
| Total equity and liabilities | 10/49 | €49,598 | €86,775 | +€37,177 | +75.0% |
| Equity | 10/15 | €19,171 | €68,829 | +€49,657 | +259.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €18,171 | €67,829 | +€49,657 | +273.3% |
| Distributable reserves | 133 | €18,171 | €67,829 | +€49,657 | +273.3% |
| Amounts payable | 17/49 | €30,426 | €17,946 | -€12,481 | -41.0% |
| Amounts payable within one year | 42/48 | €30,426 | €17,946 | -€12,481 | -41.0% |
| Trade debts | 44 | €2,402 | €2,714 | +€311 | +13.0% |
| Suppliers | 440/4 | €2,402 | €2,714 | +€311 | +13.0% |
| Taxes, remuneration and social security | 45 | €8,732 | €15,232 | +€6,500 | +74.4% |
| Taxes | 450/3 | €8,732 | €15,232 | +€6,500 | +74.4% |
| Other amounts payable | 47/48 | €19,292 | €0 | -€19,292 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576 | €7,576 | +€6,999 | +1214.3% |
| Other operating charges | 640/8 | €556 | €922 | +€366 | +65.8% |
| Gross operating margin | 9900 | €25,949 | €77,511 | +€51,562 | +198.7% |
| Operating profit (loss) | 9901 | €24,817 | €69,013 | +€44,197 | +178.1% |
| Financial income | 75/76B | - | €94 | +€94 | |
| Recurring financial income | 75 | - | €94 | +€94 | |
| Financial charges | 65/66B | €0 | €409 | +€409 | +127865.6% |
| Recurring financial charges | 65 | €0 | €409 | +€409 | +127865.6% |
| Profit (loss) for the period before taxes | 9903 | €24,816 | €68,698 | +€43,881 | +176.8% |
| Income taxes | 67/77 | €6,645 | €19,040 | +€12,395 | +186.5% |
| Profit (loss) for the period | 9904 | €18,171 | €49,657 | +€31,486 | +173.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,171 | €49,657 | +€31,486 | +173.3% |
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 9 October 2026 via checked.be.