Xavaldho: 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.
Xavaldho
Largest movements
- Cash -€397,906
down €397,906 (-69.6%), from €571,755 to €173,850
mainly Other debts (-€965,481) and Provisions (-€68,806)
- Stocks and contracts -€94,401
down €94,401 (-4.3%), from €2.2m to €2.1m
- Tangible fixed assets -€54,842
down €54,842 (-3.8%), from €1.5m to €1.4m
- Other debts -€965,481
down €965,481 (-54.4%), from €1.8m to €810,639
- Debts after one year +€375,000
up €375,000 (+60.0%), from €625,000 to €1.0m
- Profit (loss) carried forward +€216,727
up €216,727 (+109%), from €198,293 to €415,021
- Reserves -€206,419
down €206,419 (-21.4%), from €966,477 to €760,058
of which Tax-exempt reserves: -€206,419
- Tax, wage and social debts +€73,460
up €73,460 (+2,657%), from €2,765 to €76,225
- Taxes +€77,960
up €77,960 (+2,820%), from €2,765 to €80,725
- Gross operating margin +€57,692
up €57,692 (+55.1%), from €104,784 to €162,476
- Financial charges +€15,863
up €15,863 (+62.0%), from €25,577 to €41,440
- Other operating charges +€2,605
up €2,605 (+6.3%), from €41,363 to €43,967
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 | €4,432,553 | €3,885,672 | -€546,881 | -12.3% |
| Fixed assets | 21/28 | €1,462,077 | €1,407,235 | -€54,842 | -3.8% |
| Tangible fixed assets | 22/27 | €1,462,077 | €1,407,235 | -€54,842 | -3.8% |
| Land and buildings | 22 | €1,462,077 | €1,407,235 | -€54,842 | -3.8% |
| Current assets | 29/58 | €2,970,476 | €2,478,437 | -€492,039 | -16.6% |
| Stocks and contracts in progress | 3 | €2,174,058 | €2,079,657 | -€94,401 | -4.3% |
| Stocks | 30/36 | €2,174,058 | €2,079,657 | -€94,401 | -4.3% |
| Amounts receivable within one year | 40/41 | €220,566 | €220,576 | +€10 | 0.0% |
| Trade receivables | 40 | €1,976 | €0 | -€1,976 | -100% |
| Other amounts receivable | 41 | €218,590 | €220,576 | +€1,986 | +0.9% |
| Cash at bank and in hand | 54/58 | €571,755 | €173,850 | -€397,906 | -69.6% |
| Deferred charges and accrued income | 490/1 | €4,096 | €4,354 | +€258 | +6.3% |
| Total equity and liabilities | 10/49 | €4,432,553 | €3,885,672 | -€546,881 | -12.3% |
| Equity | 10/15 | €1,660,570 | €1,670,878 | +€10,308 | +0.6% |
| Contributions | 10/11 | €495,800 | €495,800 | = | 0.0% |
| Capital | 10 | €495,800 | €495,800 | = | 0.0% |
| Issued capital | 100 | €495,800 | €495,800 | = | 0.0% |
| Reserves | 13 | €966,477 | €760,058 | -€206,419 | -21.4% |
| Non-distributable reserves | 130/1 | €210,680 | €210,680 | = | 0.0% |
| Legal reserve | 130 | €210,680 | €210,680 | = | 0.0% |
| Tax-exempt reserves | 132 | €755,797 | €549,378 | -€206,419 | -27.3% |
| Profit (loss) carried forward | 14 | €198,293 | €415,021 | +€216,727 | +109% |
| Provisions and deferred taxes | 16 | €251,932 | €183,126 | -€68,806 | -27.3% |
| Deferred taxes | 168 | €251,932 | €183,126 | -€68,806 | -27.3% |
| Amounts payable | 17/49 | €2,520,050 | €2,031,668 | -€488,382 | -19.4% |
| Amounts payable after more than one year | 17 | €625,000 | €1,000,000 | +€375,000 | +60.0% |
| Financial debts | 170/4 | €625,000 | €1,000,000 | +€375,000 | +60.0% |
| Amounts payable within one year | 42/48 | €1,870,050 | €990,668 | -€879,382 | -47.0% |
| Trade debts | 44 | €91,165 | €103,803 | +€12,639 | +13.9% |
| Suppliers | 440/4 | €91,165 | €103,803 | +€12,639 | +13.9% |
| Taxes, remuneration and social security | 45 | €2,765 | €76,225 | +€73,460 | +2,657% |
| Taxes | 450/3 | €2,765 | €76,225 | +€73,460 | +2,657% |
| Other amounts payable | 47/48 | €1,776,121 | €810,639 | -€965,481 | -54.4% |
| Accrued charges and deferred income | 492/3 | €25,000 | €41,000 | +€16,000 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,166 | €54,842 | +€676 | +1.2% |
| Other operating charges | 640/8 | €41,363 | €43,967 | +€2,605 | +6.3% |
| Gross operating margin | 9900 | €104,784 | €162,476 | +€57,692 | +55.1% |
| Operating profit (loss) | 9901 | €9,255 | €63,667 | +€54,412 | +588% |
| Financial income | 75/76B | €18 | €0 | -€18 | -100% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -100% |
| Financial charges | 65/66B | €25,577 | €41,440 | +€15,863 | +62.0% |
| Recurring financial charges | 65 | €25,577 | €41,440 | +€15,863 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,304 | €22,227 | +€38,530 | |
| Transfer from deferred taxes | 780 | €6,664 | €68,806 | +€62,142 | +932% |
| Income taxes | 67/77 | €2,765 | €80,725 | +€77,960 | +2,820% |
| Profit (loss) for the period | 9904 | -€12,404 | €10,308 | +€22,712 | |
| Transfer from tax-exempt reserves | 789 | €19,993 | €206,419 | +€186,426 | +932% |
| Profit (loss) for the period to be appropriated | 9905 | €7,589 | €216,727 | +€209,138 | +2,756% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.