XAVEST: 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.
What changed
XAVEST
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€473,771
2024 · €822,666-€348,895
Equity
€20.9m
2024 · €21.2m-€276,229
Cash
€370,233
2024 · €750,943-€380,710
Balance sheet total
€23.0m
2024 · €23.5m-€518,081
Largest movements
Assets
- Cash -€380,710
down €380,710 (-50.7%), from €750,943 to €370,233
mainly Contributions, distributions and other (-€750,000) and Debts after one year (-€320,000)
Equity and liabilities
- Debts after one year -€320,000
down €320,000 (-32.0%), from €1.0m to €680,500
- Reserves -€276,229
down €276,229 (-6.4%), from €4.3m to €4.0m
Income statement
- Services and other goods +€199,580
up €199,580 (+33.1%), from €602,469 to €802,049
- Staff costs +€98,874
up €98,874 (+19.3%), from €512,422 to €611,296
- Financial income -€35,907
down €35,907 (-4.3%), from €834,275 to €798,368
- Other operating income -€17,806
down €17,806 (-67.3%), from €26,456 to €8,650
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.
Result 2024
€822,666
Turnover
+€120
Other operating income
-€17,806
Services and other goods
-€199,580
Staff costs
-€98,874
Other operating charges
-€33
Financial income
-€35,907
Financial charges
+€2,603
Taxes
+€583
Result 2025
€473,771
raises the resultlowers the result
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.
From operations
+€689,290
Investment
€0
Financing
-€1.1m
Cash 2024
€750,943
From operations (derived)
+€689,290
Net result for the year
+€473,771
Smaller working-capital items
+€1,928
Receivables within one year
+€135,442
Trade debts
+€10,626
Tax, wage and social debts
+€25,236
Other debts
+€42,286
Financing
-€1.1m
Debts after one year
-€320,000
Contributions, distributions and other
-€750,000
Cash 2025
€370,233
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,519,690 | €23,001,609 | -€518,081 | -2.2% |
| Fixed assets | 21/28 | €22,554,029 | €22,554,029 | = | 0.0% |
| Financial fixed assets | 28 | €22,554,029 | €22,554,029 | = | 0.0% |
| Affiliated companies | 280/1 | €22,554,029 | €22,554,029 | = | 0.0% |
| Participating interests | 280 | €22,554,029 | €22,554,029 | = | 0.0% |
| Current assets | 29/58 | €965,661 | €447,580 | -€518,081 | -53.7% |
| Amounts receivable after more than one year | 29 | €1,463 | €0 | -€1,463 | -100% |
| Other amounts receivable | 291 | €1,463 | €0 | -€1,463 | -100% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €185,172 | €49,729 | -€135,442 | -73.1% |
| Trade receivables | 40 | €176,240 | €18,050 | -€158,190 | -89.8% |
| Other amounts receivable | 41 | €8,932 | €31,679 | +€22,748 | +255% |
| Cash at bank and in hand | 54/58 | €750,943 | €370,233 | -€380,710 | -50.7% |
| Deferred charges and accrued income | 490/1 | €28,083 | €27,618 | -€465 | -1.7% |
| Total equity and liabilities | 10/49 | €23,519,690 | €23,001,609 | -€518,081 | -2.2% |
| Equity | 10/15 | €21,164,434 | €20,888,205 | -€276,229 | -1.3% |
| Contributions | 10/11 | €16,845,254 | €16,845,254 | = | 0.0% |
| Reserves | 13 | €4,319,180 | €4,042,951 | -€276,229 | -6.4% |
| Distributable reserves | 133 | €4,319,180 | €4,042,951 | -€276,229 | -6.4% |
| Provisions and deferred taxes | 16 | €202,791 | €202,791 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €202,791 | €202,791 | = | 0.0% |
| Pensions and similar obligations | 160 | €202,791 | €202,791 | = | 0.0% |
| Amounts payable | 17/49 | €2,152,464 | €1,910,613 | -€241,852 | -11.2% |
| Amounts payable after more than one year | 17 | €1,000,500 | €680,500 | -€320,000 | -32.0% |
| Other amounts payable | 178/9 | €1,000,500 | €680,500 | -€320,000 | -32.0% |
| Amounts payable within one year | 42/48 | €1,151,964 | €1,230,113 | +€78,148 | +6.8% |
| Trade debts | 44 | €222,886 | €233,512 | +€10,626 | +4.8% |
| Suppliers | 440/4 | €222,886 | €233,512 | +€10,626 | +4.8% |
| Taxes, remuneration and social security | 45 | €348,524 | €373,760 | +€25,236 | +7.2% |
| Taxes | 450/3 | €255,784 | €259,988 | +€4,204 | +1.6% |
| Remuneration and social security | 454/9 | €92,740 | €113,772 | +€21,033 | +22.7% |
| Other amounts payable | 47/48 | €580,555 | €622,841 | +€42,286 | +7.3% |
| Operating income | 70/76A | €1,215,536 | €1,197,850 | -€17,686 | -1.5% |
| Turnover | 70 | €1,189,080 | €1,189,200 | +€120 | 0.0% |
| Other operating income | 74 | €26,456 | €8,650 | -€17,806 | -67.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €1,116,084 | €1,414,572 | +€298,488 | +26.7% |
| Services and other goods | 61 | €602,469 | €802,049 | +€199,580 | +33.1% |
| Remuneration, social security and pensions | 62 | €512,422 | €611,296 | +€98,874 | +19.3% |
| Other operating charges | 640/8 | €1,194 | €1,226 | +€33 | +2.8% |
| Operating profit (loss) | 9901 | €99,452 | -€216,722 | -€316,174 | |
| Financial income | 75/76B | €834,275 | €798,368 | -€35,907 | -4.3% |
| Recurring financial income | 75 | €834,275 | €798,368 | -€35,907 | -4.3% |
| Income from financial fixed assets | 750 | €833,954 | €793,357 | -€40,597 | -4.9% |
| Income from current assets | 751 | €313 | €5,011 | +€4,697 | +1,499% |
| Other financial income | 752/9 | €8 | €0 | -€8 | -100% |
| Financial charges | 65/66B | €108,341 | €105,738 | -€2,603 | -2.4% |
| Recurring financial charges | 65 | €108,341 | €105,738 | -€2,603 | -2.4% |
| Debt charges | 650 | €108,268 | €105,662 | -€2,605 | -2.4% |
| Other financial charges | 652/9 | €74 | €76 | +€2 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €825,386 | €475,908 | -€349,478 | -42.3% |
| Income taxes | 67/77 | €2,720 | €2,137 | -€583 | -21.4% |
| Taxes | 670/3 | €2,720 | €2,155 | -€565 | -20.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €18 | +€18 | |
| Profit (loss) for the period | 9904 | €822,666 | €473,771 | -€348,895 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €822,666 | €473,771 | -€348,895 | -42.4% |
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 30 October 2026 via checked.be.