XAVIER PONTHIER: 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.
XAVIER PONTHIER
Largest movements
- Financial fixed assets +€1.6m
new in 2025: €1.6m
- Receivables within one year +€620,262
up €620,262 (+72,008%), from €861 to €621,124
of which Trade receivables: +€492,124
- Cash +€90,835
up €90,835 (+10,631%), from €854 to €91,690
mainly Debts after one year (+€978,629) and Net result for the year (+€525,498)
- Debts after one year +€978,629
new in 2025: €978,629
of which Financial debts: +€978,629
- Reserves +€513,846
new in 2025: €513,846
- Trade debts +€386,964
up €386,964 (+99,903%), from €387 to €387,352
- Short-term financial debts +€200,000
new in 2025: €200,000
- Current portion of long-term debt +€91,371
new in 2025: €91,371
- Gross operating margin +€614,975
up €614,975, from -€981 to €613,994
- Staff costs +€444,187
new in 2025: €444,187
- Financial income +€430,038
new in 2025: €430,038
- Other operating charges +€38,968
up €38,968 (+7,606%), from €512 to €39,480
- Taxes +€29,000
new in 2025: €29,000
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 | €1,716 | €2,281,964 | +€2.3m | +132,893% |
| Fixed assets | 21/28 | - | €1,569,151 | +€1.6m | |
| Tangible fixed assets | 22/27 | - | €9,151 | +€9,151 | |
| Furniture and vehicles | 24 | - | €9,151 | +€9,151 | |
| Financial fixed assets | 28 | - | €1,560,000 | +€1.6m | |
| Current assets | 29/58 | €1,716 | €712,814 | +€711,098 | +41,443% |
| Amounts receivable within one year | 40/41 | €861 | €621,124 | +€620,262 | +72,008% |
| Trade receivables | 40 | - | €492,124 | +€492,124 | |
| Other amounts receivable | 41 | €861 | €129,000 | +€128,139 | +14,876% |
| Cash at bank and in hand | 54/58 | €854 | €91,690 | +€90,835 | +10,631% |
| Total equity and liabilities | 10/49 | €1,716 | €2,281,964 | +€2.3m | +132,893% |
| Equity | 10/15 | -€6,652 | €518,846 | +€525,498 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €5,000 | +€5,000 | |
| Other | 1109/19 | - | €5,000 | +€5,000 | |
| Reserves | 13 | - | €513,846 | +€513,846 | |
| Distributable reserves | 133 | - | €513,846 | +€513,846 | |
| Profit (loss) carried forward | 14 | -€11,652 | €0 | +€11,652 | |
| Amounts payable | 17/49 | €8,368 | €1,763,119 | +€1.8m | +20,970% |
| Amounts payable after more than one year | 17 | - | €978,629 | +€978,629 | |
| Financial debts | 170/4 | - | €978,629 | +€978,629 | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €8,368 | €784,489 | +€776,121 | +9,275% |
| Current portion of amounts payable after more than one year | 42 | - | €91,371 | +€91,371 | |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €387 | €387,352 | +€386,964 | +99,903% |
| Suppliers | 440/4 | €387 | €387,352 | +€386,964 | +99,903% |
| Taxes, remuneration and social security | 45 | €0 | €29,332 | +€29,332 | |
| Taxes | 450/3 | €0 | €29,332 | +€29,332 | |
| Other amounts payable | 47/48 | €7,980 | €76,435 | +€68,454 | +858% |
| Remuneration, social security and pensions | 62 | - | €444,187 | +€444,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €849 | +€849 | |
| Other operating charges | 640/8 | €512 | €39,480 | +€38,968 | +7,606% |
| Gross operating margin | 9900 | -€981 | €613,994 | +€614,975 | |
| Operating profit (loss) | 9901 | -€1,493 | €129,478 | +€130,971 | |
| Financial income | 75/76B | - | €430,038 | +€430,038 | |
| Recurring financial income | 75 | - | €430,038 | +€430,038 | |
| Financial charges | 65/66B | €479 | €5,018 | +€4,539 | +947% |
| Recurring financial charges | 65 | €479 | €5,018 | +€4,539 | +947% |
| Profit (loss) for the period before taxes | 9903 | -€1,972 | €554,498 | +€556,470 | |
| Income taxes | 67/77 | - | €29,000 | +€29,000 | |
| Profit (loss) for the period | 9904 | -€1,972 | €525,498 | +€527,470 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,972 | €525,498 | +€527,470 |
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 22 October 2026 via checked.be.