XAVA: 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.
XAVA
Largest movements
- Stocks and contracts -€155,855
down €155,855 (-5.3%), from €2.9m to €2.8m
- Cash -€113,138
down €113,138 (-68.4%), from €165,479 to €52,341
mainly Advances received (-€521,973) and Tax, wage and social debts (-€104,168)
- Advances received -€521,973
down €521,973 (-100.0%), from €521,973 to €0
- Other debts +€203,427
up €203,427 (+45.6%), from €445,715 to €649,143
- Tax, wage and social debts -€104,168
down €104,168 (-97.8%), from €106,552 to €2,384
- Profit (loss) carried forward +€95,436
up €95,436 (+52.7%), from -€181,256 to -€85,820
- Short-term financial debts +€63,000
up €63,000 (+2.8%), from €2.2m to €2.3m
- Gross operating margin +€261,798
up €261,798, from -€27,535 to €234,263
- Financial charges +€40,457
up €40,457 (+44.3%), from €91,236 to €131,692
- Financial income -€26,351
down €26,351 (-89.4%), from €29,477 to €3,125
- Other operating charges +€7,506
up €7,506 (+1059.7%), from €708 to €8,214
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,157,764 | €2,880,865 | -€276,899 | -8.8% |
| Fixed assets | 21/28 | €27,617 | €25,572 | -€2,046 | -7.4% |
| Tangible fixed assets | 22/27 | €27,617 | €25,572 | -€2,046 | -7.4% |
| Land and buildings | 22 | €25,000 | €25,000 | = | 0.0% |
| Furniture and vehicles | 24 | €2,617 | €572 | -€2,046 | -78.2% |
| Current assets | 29/58 | €3,130,147 | €2,855,294 | -€274,853 | -8.8% |
| Stocks and contracts in progress | 3 | €2,917,624 | €2,761,770 | -€155,855 | -5.3% |
| Stocks | 30/36 | €2,917,624 | €2,761,770 | -€155,855 | -5.3% |
| Amounts receivable within one year | 40/41 | €47,044 | €41,183 | -€5,861 | -12.5% |
| Trade receivables | 40 | €7,661 | €1,800 | -€5,861 | -76.5% |
| Other amounts receivable | 41 | €39,383 | €39,383 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €165,479 | €52,341 | -€113,138 | -68.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,157,764 | €2,880,865 | -€276,899 | -8.8% |
| Equity | 10/15 | -€161,748 | -€66,312 | +€95,436 | +59.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €907 | €907 | = | 0.0% |
| Distributable reserves | 133 | €907 | €907 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,256 | -€85,820 | +€95,436 | +52.7% |
| Amounts payable | 17/49 | €3,319,513 | €2,947,178 | -€372,335 | -11.2% |
| Amounts payable within one year | 42/48 | €3,319,513 | €2,947,178 | -€372,335 | -11.2% |
| Financial debts | 43 | €2,230,000 | €2,293,000 | +€63,000 | +2.8% |
| Credit institutions | 430/8 | €2,230,000 | €2,293,000 | +€63,000 | +2.8% |
| Trade debts | 44 | €15,272 | €2,651 | -€12,621 | -82.6% |
| Suppliers | 440/4 | €15,272 | €2,651 | -€12,621 | -82.6% |
| Advances received on contracts in progress | 46 | €521,973 | €0 | -€521,973 | -100.0% |
| Taxes, remuneration and social security | 45 | €106,552 | €2,384 | -€104,168 | -97.8% |
| Taxes | 450/3 | €106,552 | €2,384 | -€104,168 | -97.8% |
| Other amounts payable | 47/48 | €445,715 | €649,143 | +€203,427 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,046 | €2,046 | = | 0.0% |
| Other operating charges | 640/8 | €708 | €8,214 | +€7,506 | +1059.7% |
| Gross operating margin | 9900 | -€27,535 | €234,263 | +€261,798 | |
| Operating profit (loss) | 9901 | -€30,289 | €224,003 | +€254,292 | |
| Financial income | 75/76B | €29,477 | €3,125 | -€26,351 | -89.4% |
| Recurring financial income | 75 | €29,477 | €3,125 | -€26,351 | -89.4% |
| Financial charges | 65/66B | €91,236 | €131,692 | +€40,457 | +44.3% |
| Recurring financial charges | 65 | €91,236 | €131,692 | +€40,457 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | -€92,048 | €95,436 | +€187,484 | |
| Income taxes | 67/77 | €655 | €0 | -€655 | -100.0% |
| Profit (loss) for the period | 9904 | -€92,703 | €95,436 | +€188,139 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,703 | €95,436 | +€188,139 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.