XDGA: 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.
XDGA
Largest movements
- Receivables within one year -€1.7m
down €1.7m (-30.3%), from €5.5m to €3.8m
of which Trade receivables: -€1.9m
- Cash -€545,787
down €545,787 (-60.4%), from €903,130 to €357,344
mainly Net result for the year (-€1.3m) and Contributions, distributions and other (-€730,294)
- Deferred charges and accrued income +€78,826
up €78,826 (+1,185%), from €6,653 to €85,480
- Profit (loss) carried forward -€2.0m
down €2.0m (-70.8%), from €2.8m to €827,096
- Accrued charges and deferred income +€354,895
up €354,895 (+36,418%), from €975 to €355,869
- Trade debts -€262,248
down €262,248 (-34.3%), from €764,397 to €502,149
- Tax, wage and social debts -€232,596
down €232,596 (-73.2%), from €317,673 to €85,078
of which Taxes: -€239,772
- Other debts +€133,105
up €133,105 (+11.2%), from €1.2m to €1.3m
- Gross operating margin -€2.1m
down €2.1m, from €1.3m to -€842,016
- Taxes -€60,215
down €60,215 (-36.8%), from €163,464 to €103,249
- Financial charges +€24,297
up €24,297 (+123%), from €19,674 to €43,972
- Staff costs +€13,278
up €13,278 (+6.3%), from €209,189 to €222,466
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.
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 | €6,533,864 | €4,422,275 | -€2.1m | -32.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €126,522 | €148,884 | +€22,362 | +17.7% |
| Intangible fixed assets | 21 | €2,934 | €37,963 | +€35,029 | +1,194% |
| Tangible fixed assets | 22/27 | €75,088 | €62,421 | -€12,667 | -16.9% |
| Plant, machinery and equipment | 23 | €65,103 | €54,696 | -€10,407 | -16.0% |
| Furniture and vehicles | 24 | €5,640 | €4,776 | -€864 | -15.3% |
| Other tangible fixed assets | 26 | €4,345 | €2,949 | -€1,396 | -32.1% |
| Financial fixed assets | 28 | €48,500 | €48,500 | = | 0.0% |
| Current assets | 29/58 | €6,407,342 | €4,273,391 | -€2.1m | -33.3% |
| Amounts receivable within one year | 40/41 | €5,497,559 | €3,830,567 | -€1.7m | -30.3% |
| Trade receivables | 40 | €5,143,802 | €3,206,244 | -€1.9m | -37.7% |
| Other amounts receivable | 41 | €353,757 | €624,323 | +€270,566 | +76.5% |
| Cash at bank and in hand | 54/58 | €903,130 | €357,344 | -€545,787 | -60.4% |
| Deferred charges and accrued income | 490/1 | €6,653 | €85,480 | +€78,826 | +1,185% |
| Total equity and liabilities | 10/49 | €6,533,864 | €4,422,275 | -€2.1m | -32.3% |
| Equity | 10/15 | €3,954,468 | €1,949,618 | -€2.0m | -50.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,102,522 | €1,102,522 | = | 0.0% |
| Distributable reserves | 133 | €1,102,522 | €1,102,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,831,946 | €827,096 | -€2.0m | -70.8% |
| Amounts payable | 17/49 | €2,579,396 | €2,472,656 | -€106,740 | -4.1% |
| Amounts payable after more than one year | 17 | €209,737 | €106,562 | -€103,175 | -49.2% |
| Financial debts | 170/4 | €209,737 | €106,562 | -€103,175 | -49.2% |
| Amounts payable within one year | 42/48 | €2,368,685 | €2,010,226 | -€358,459 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €99,896 | €103,175 | +€3,279 | +3.3% |
| Trade debts | 44 | €764,397 | €502,149 | -€262,248 | -34.3% |
| Suppliers | 440/4 | €764,397 | €502,149 | -€262,248 | -34.3% |
| Taxes, remuneration and social security | 45 | €317,673 | €85,078 | -€232,596 | -73.2% |
| Taxes | 450/3 | €299,484 | €59,711 | -€239,772 | -80.1% |
| Remuneration and social security | 454/9 | €18,190 | €25,367 | +€7,177 | +39.5% |
| Other amounts payable | 47/48 | €1,186,718 | €1,319,824 | +€133,105 | +11.2% |
| Accrued charges and deferred income | 492/3 | €975 | €355,869 | +€354,895 | +36,418% |
| Non-recurring operating income | 76A | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €209,189 | €222,466 | +€13,278 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,891 | €54,702 | +€6,812 | +14.2% |
| Other operating charges | 640/8 | €11,234 | €11,543 | +€309 | +2.8% |
| Non-recurring operating charges | 66A | €1,506 | - | -€1,506 | |
| Gross operating margin | 9900 | €1,291,539 | -€842,016 | -€2.1m | |
| Operating profit (loss) | 9901 | €1,021,720 | -€1,130,728 | -€2.2m | |
| Financial income | 75/76B | €8,427 | €3,393 | -€5,033 | -59.7% |
| Recurring financial income | 75 | €8,427 | €3,393 | -€5,033 | -59.7% |
| Financial charges | 65/66B | €19,674 | €43,972 | +€24,297 | +123% |
| Recurring financial charges | 65 | €19,674 | €43,972 | +€24,297 | +123% |
| Profit (loss) for the period before taxes | 9903 | €1,010,472 | -€1,171,307 | -€2.2m | |
| Income taxes | 67/77 | €163,464 | €103,249 | -€60,215 | -36.8% |
| Profit (loss) for the period | 9904 | €847,008 | -€1,274,556 | -€2.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €847,008 | -€1,274,556 | -€2.1m |
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 24 October 2026 via checked.be.