XAVELEC: 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.
XAVELEC
Largest movements
- Receivables within one year +€493,105
up €493,105 (+538%), from €91,721 to €584,826
of which Trade receivables: +€422,691
- Tangible fixed assets -€26,875
down €26,875 (-49.0%), from €54,824 to €27,949
- Trade debts +€386,320
up €386,320 (+2,952%), from €13,086 to €399,406
- Other debts +€62,668
up €62,668 (+1,178%), from €5,318 to €67,986
- Profit (loss) carried forward -€19,203
down €19,203 (-17.7%), from €108,715 to €89,512
- Reserves +€17,900
up €17,900 (+658%), from €2,720 to €20,620
of which Tax-exempt reserves: +€17,900
- Tax, wage and social debts +€15,585
up €15,585 (+108%), from €14,479 to €30,063
of which Taxes: +€7,829
- Gross operating margin +€49,401
new in 2025: €49,401
- Depreciation +€21,885
new in 2025: €21,885
- Taxes +€9,000
new in 2025: €9,000
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
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 | €162,917 | €629,971 | +€467,054 | +287% |
| Fixed assets | 21/28 | €54,824 | €27,949 | -€26,875 | -49.0% |
| Tangible fixed assets | 22/27 | €54,824 | €27,949 | -€26,875 | -49.0% |
| Furniture and vehicles | 24 | €54,824 | €27,949 | -€26,875 | -49.0% |
| Current assets | 29/58 | €108,093 | €602,022 | +€493,929 | +457% |
| Amounts receivable within one year | 40/41 | €91,721 | €584,826 | +€493,105 | +538% |
| Trade receivables | 40 | €31,190 | €453,881 | +€422,691 | +1,355% |
| Other amounts receivable | 41 | €60,532 | €130,945 | +€70,413 | +116% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,536 | €8,536 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €7,834 | €8,658 | +€824 | +10.5% |
| Total equity and liabilities | 10/49 | €162,917 | €629,971 | +€467,054 | +287% |
| Equity | 10/15 | €130,035 | €128,732 | -€1,303 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,720 | €20,620 | +€17,900 | +658% |
| Non-distributable reserves | 130/1 | €2,720 | €2,720 | = | 0.0% |
| Legal reserve | 130 | €2,720 | €2,720 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €17,900 | +€17,900 | |
| Profit (loss) carried forward | 14 | €108,715 | €89,512 | -€19,203 | -17.7% |
| Amounts payable | 17/49 | €32,882 | €501,240 | +€468,358 | +1,424% |
| Amounts payable within one year | 42/48 | €32,882 | €501,240 | +€468,358 | +1,424% |
| Current portion of amounts payable after more than one year | 42 | - | €3,785 | +€3,785 | |
| Trade debts | 44 | €13,086 | €399,406 | +€386,320 | +2,952% |
| Suppliers | 440/4 | €13,086 | €399,406 | +€386,320 | +2,952% |
| Taxes, remuneration and social security | 45 | €14,479 | €30,063 | +€15,585 | +108% |
| Taxes | 450/3 | €14,341 | €22,170 | +€7,829 | +54.6% |
| Remuneration and social security | 454/9 | €137 | €7,893 | +€7,756 | +5,656% |
| Other amounts payable | 47/48 | €5,318 | €67,986 | +€62,668 | +1,178% |
| Remuneration, social security and pensions | 62 | - | €197 | +€197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €21,885 | +€21,885 | |
| Other operating charges | 640/8 | - | €277 | +€277 | |
| Gross operating margin | 9900 | - | €49,401 | +€49,401 | |
| Operating profit (loss) | 9901 | - | €27,042 | +€27,042 | |
| Profit (loss) for the period before taxes | 9903 | - | €27,042 | +€27,042 | |
| Income taxes | 67/77 | - | €9,000 | +€9,000 | |
| Profit (loss) for the period | 9904 | - | €18,042 | +€18,042 | |
| Profit (loss) for the period to be appropriated | 9905 | - | €18,042 | +€18,042 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.