XAVRO: what changed
Two fiscal 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.
XAVRO
Largest movements
- Cash +€125,348
up €125,348 (+37.5%), from €334,053 to €459,401
mainly Net result for the year (+€217,437) and Receivables within one year (+€28,770)
- Receivables within one year -€28,770
down €28,770 (-28.5%), from €101,103 to €72,333
- Tangible fixed assets -€19,212
down €19,212 (-21.7%), from €88,478 to €69,267
of which Leasing and similar rights: -€10,692
- Reserves +€67,437
up €67,437 (+19.5%), from €345,046 to €412,483
- Tax, wage and social debts +€22,961
up €22,961 (+21.0%), from €109,356 to €132,317
of which Taxes: +€25,161
- Debts after one year -€10,149
down €10,149 (-18.7%), from €54,370 to €44,220
- Gross operating margin +€26,440
up €26,440 (+9.2%), from €285,897 to €312,337
- Taxes +€6,759
up €6,759 (+10.8%), from €62,779 to €69,538
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.
Cash bridge derived
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 | €524,221 | €602,856 | +€78,635 | +15.0% |
| Fixed assets | 21/28 | €88,478 | €69,267 | -€19,212 | -21.7% |
| Tangible fixed assets | 22/27 | €88,478 | €69,267 | -€19,212 | -21.7% |
| Plant, machinery and equipment | 23 | €3,299 | €2,161 | -€1,138 | -34.5% |
| Furniture and vehicles | 24 | €22,788 | €15,406 | -€7,382 | -32.4% |
| Leasing and similar rights | 25 | €62,391 | €51,700 | -€10,692 | -17.1% |
| Current assets | 29/58 | €435,742 | €533,589 | +€97,847 | +22.5% |
| Amounts receivable within one year | 40/41 | €101,103 | €72,333 | -€28,770 | -28.5% |
| Other amounts receivable | 41 | €101,103 | €72,333 | -€28,770 | -28.5% |
| Cash at bank and in hand | 54/58 | €334,053 | €459,401 | +€125,348 | +37.5% |
| Deferred charges and accrued income | 490/1 | €586 | €1,855 | +€1,269 | +216.5% |
| Total equity and liabilities | 10/49 | €524,221 | €602,856 | +€78,635 | +15.0% |
| Equity | 10/15 | €346,046 | €413,483 | +€67,437 | +19.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €345,046 | €412,483 | +€67,437 | +19.5% |
| Distributable reserves | 133 | €345,046 | €412,483 | +€67,437 | +19.5% |
| Amounts payable | 17/49 | €178,175 | €189,374 | +€11,198 | +6.3% |
| Amounts payable after more than one year | 17 | €54,370 | €44,220 | -€10,149 | -18.7% |
| Financial debts | 170/4 | €54,370 | €44,220 | -€10,149 | -18.7% |
| Amounts payable within one year | 42/48 | €123,806 | €145,153 | +€21,348 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €9,699 | €10,149 | +€451 | +4.6% |
| Trade debts | 44 | €3,918 | €2,687 | -€1,231 | -31.4% |
| Suppliers | 440/4 | €3,918 | €2,687 | -€1,231 | -31.4% |
| Taxes, remuneration and social security | 45 | €109,356 | €132,317 | +€22,961 | +21.0% |
| Taxes | 450/3 | €107,156 | €132,317 | +€25,161 | +23.5% |
| Remuneration and social security | 454/9 | €2,200 | - | -€2,200 | |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,121 | €19,212 | +€90 | +0.5% |
| Other operating charges | 640/8 | €4,109 | €3,722 | -€387 | -9.4% |
| Gross operating margin | 9900 | €285,897 | €312,337 | +€26,440 | +9.2% |
| Operating profit (loss) | 9901 | €262,666 | €289,403 | +€26,737 | +10.2% |
| Financial income | 75/76B | €938 | €325 | -€613 | -65.3% |
| Recurring financial income | 75 | €938 | €325 | -€613 | -65.3% |
| Financial charges | 65/66B | €3,182 | €2,752 | -€429 | -13.5% |
| Recurring financial charges | 65 | €3,182 | €2,752 | -€429 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €260,422 | €286,975 | +€26,553 | +10.2% |
| Income taxes | 67/77 | €62,779 | €69,538 | +€6,759 | +10.8% |
| Profit (loss) for the period | 9904 | €197,643 | €217,437 | +€19,794 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,643 | €217,437 | +€19,794 | +10.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.