XCMANAGEMENT: 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.
XCMANAGEMENT
Largest movements
- Receivables within one year +€27,500
up €27,500, from €0 to €27,500
of which Trade receivables: +€27,500
- Cash -€592
down €592 (-20.7%), from €2,853 to €2,261
mainly Receivables within one year (-€27,500) and Contributions, distributions and other (-€14,000)
- Other debts +€14,000
new in 2025: €14,000
- Reserves +€8,880
up €8,880 (+1770.8%), from €501 to €9,381
- Tax, wage and social debts +€3,613
up €3,613, from €0 to €3,613
- Gross operating margin +€26,363
up €26,363 (+9192.3%), from €287 to €26,649
- Taxes +€3,182
up €3,182 (+1117.2%), from €285 to €3,466
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 | €19,225 | €46,133 | +€26,908 | +140.0% |
| Fixed assets | 21/28 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €13,225 | €40,133 | +€26,908 | +203.5% |
| Amounts receivable within one year | 40/41 | €0 | €27,500 | +€27,500 | |
| Trade receivables | 40 | €0 | €27,500 | +€27,500 | |
| Other amounts receivable | 41 | - | €0 | = | |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,853 | €2,261 | -€592 | -20.7% |
| Deferred charges and accrued income | 490/1 | €372 | €372 | = | 0.0% |
| Total equity and liabilities | 10/49 | €19,225 | €46,133 | +€26,908 | +140.0% |
| Equity | 10/15 | €18,511 | €27,535 | +€9,024 | +48.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €501 | €9,381 | +€8,880 | +1770.8% |
| Distributable reserves | 133 | €501 | €9,381 | +€8,880 | +1770.8% |
| Profit (loss) carried forward | 14 | €3,009 | €3,154 | +€144 | +4.8% |
| Amounts payable | 17/49 | €714 | €18,598 | +€17,884 | +2503.7% |
| Amounts payable within one year | 42/48 | €714 | €18,598 | +€17,884 | +2503.7% |
| Trade debts | 44 | €714 | €985 | +€271 | +37.9% |
| Suppliers | 440/4 | €714 | €985 | +€271 | +37.9% |
| Taxes, remuneration and social security | 45 | €0 | €3,613 | +€3,613 | |
| Taxes | 450/3 | €0 | €3,613 | +€3,613 | |
| Other amounts payable | 47/48 | - | €14,000 | +€14,000 | |
| Other operating charges | 640/8 | €415 | €593 | +€178 | +43.0% |
| Gross operating margin | 9900 | €287 | €26,649 | +€26,363 | +9192.3% |
| Operating profit (loss) | 9901 | -€128 | €26,056 | +€26,184 | |
| Financial income | 75/76B | €649 | €480 | -€170 | -26.1% |
| Recurring financial income | 75 | €649 | €480 | -€170 | -26.1% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €476 | €26,491 | +€26,015 | +5462.4% |
| Income taxes | 67/77 | €285 | €3,466 | +€3,182 | +1117.2% |
| Profit (loss) for the period | 9904 | €191 | €23,024 | +€22,833 | +11925.7% |
| Profit (loss) for the period to be appropriated | 9905 | €191 | €23,024 | +€22,833 | +11925.7% |
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 3 October 2026 via checked.be.