XAVAL: 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.
XAVAL
Largest movements
- Receivables within one year +€156,277
up €156,277 (+153%), from €102,319 to €258,596
of which Trade receivables: +€142,969
- Tangible fixed assets +€75,570
up €75,570 (+469%), from €16,102 to €91,672
of which Other tangible fixed assets: +€76,180
- Cash -€67,280
down €67,280 (-50.8%), from €132,497 to €65,217
mainly Receivables within one year (-€156,277) and Investment in fixed assets (net) (-€92,353)
- Deferred charges and accrued income +€8,014
up €8,014 (+1,171%), from €685 to €8,699
- Financial fixed assets +€8,000
new in 2024: €8,000
- Trade debts +€167,354
up €167,354 (+113%), from €147,678 to €315,032
- Tax, wage and social debts -€24,015
down €24,015 (-63.0%), from €38,105 to €14,090
- Other debts +€18,958
up €18,958 (+390%), from €4,858 to €23,816
- Profit (loss) carried forward +€18,432
up €18,432 (+9.5%), from -€194,598 to -€176,166
- Gross operating margin +€11,404
up €11,404 (+34.8%), from €32,758 to €44,162
- Taxes +€2,127
up €2,127 (+16.3%), from €13,071 to €15,198
- Depreciation +€580
up €580 (+7.1%), from €8,203 to €8,783
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €251,602 | €432,183 | +€180,581 | +71.8% |
| Fixed assets | 21/28 | €16,102 | €99,672 | +€83,570 | +519% |
| Tangible fixed assets | 22/27 | €16,102 | €91,672 | +€75,570 | +469% |
| Plant, machinery and equipment | 23 | €4,679 | €2,324 | -€2,355 | -50.3% |
| Furniture and vehicles | 24 | €11,423 | €13,168 | +€1,745 | +15.3% |
| Other tangible fixed assets | 26 | - | €76,180 | +€76,180 | |
| Financial fixed assets | 28 | - | €8,000 | +€8,000 | |
| Current assets | 29/58 | €235,500 | €332,511 | +€97,011 | +41.2% |
| Amounts receivable within one year | 40/41 | €102,319 | €258,596 | +€156,277 | +153% |
| Trade receivables | 40 | €70,891 | €213,860 | +€142,969 | +202% |
| Other amounts receivable | 41 | €31,428 | €44,735 | +€13,308 | +42.3% |
| Cash at bank and in hand | 54/58 | €132,497 | €65,217 | -€67,280 | -50.8% |
| Deferred charges and accrued income | 490/1 | €685 | €8,699 | +€8,014 | +1,171% |
| Total equity and liabilities | 10/49 | €251,602 | €432,183 | +€180,581 | +71.8% |
| Equity | 10/15 | €60,814 | €79,246 | +€18,432 | +30.3% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €7,518 | €7,518 | = | 0.0% |
| Non-distributable reserves | 130/1 | €496 | €496 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €496 | €496 | = | 0.0% |
| Distributable reserves | 133 | €7,022 | €7,022 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€194,598 | -€176,166 | +€18,432 | +9.5% |
| Amounts payable | 17/49 | €190,788 | €352,937 | +€162,149 | +85.0% |
| Amounts payable within one year | 42/48 | €190,788 | €352,937 | +€162,149 | +85.0% |
| Financial debts | 43 | €147 | €0 | -€147 | -100% |
| Credit institutions | 430/8 | €147 | €0 | -€147 | -100% |
| Trade debts | 44 | €147,678 | €315,032 | +€167,354 | +113% |
| Suppliers | 440/4 | €147,678 | €315,032 | +€167,354 | +113% |
| Taxes, remuneration and social security | 45 | €38,105 | €14,090 | -€24,015 | -63.0% |
| Taxes | 450/3 | €38,105 | €14,090 | -€24,015 | -63.0% |
| Other amounts payable | 47/48 | €4,858 | €23,816 | +€18,958 | +390% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,203 | €8,783 | +€580 | +7.1% |
| Other operating charges | 640/8 | €2,370 | €2,709 | +€339 | +14.3% |
| Gross operating margin | 9900 | €32,758 | €44,162 | +€11,404 | +34.8% |
| Operating profit (loss) | 9901 | €22,185 | €32,671 | +€10,486 | +47.3% |
| Financial income | 75/76B | €1,386 | €1,143 | -€244 | -17.6% |
| Recurring financial income | 75 | €1,386 | €1,143 | -€244 | -17.6% |
| Financial charges | 65/66B | €136 | €183 | +€48 | +35.0% |
| Recurring financial charges | 65 | €136 | €183 | +€48 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €23,435 | €33,630 | +€10,195 | +43.5% |
| Income taxes | 67/77 | €13,071 | €15,198 | +€2,127 | +16.3% |
| Profit (loss) for the period | 9904 | €10,364 | €18,432 | +€8,068 | +77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,364 | €18,432 | +€8,068 | +77.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.