XEDEV: 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.
XEDEV
Largest movements
- Cash +€249,747
up €249,747 (+171.2%), from €145,867 to €395,614
mainly Depreciation (+€485,338) and Debts after one year (+€227,083)
- Tangible fixed assets +€118,387
up €118,387 (+7.5%), from €1.6m to €1.7m
of which Plant, machinery and equipment: +€144,741
- Receivables within one year +€108,054
up €108,054 (+27.4%), from €394,432 to €502,486
of which Trade receivables: +€131,328
- Debts after one year +€227,083
up €227,083 (+21.1%), from €1.1m to €1.3m
- Profit (loss) carried forward +€160,803
up €160,803, from -€154,574 to €6,229
- Trade debts +€58,413
up €58,413 (+78.7%), from €74,229 to €132,642
- Other debts +€49,850
new in 2025: €49,850
- Gross operating margin +€472,043
up €472,043 (+35.2%), from €1.3m to €1.8m
- Staff costs -€41,289
down €41,289 (-3.7%), from €1.1m to €1.1m
- Depreciation -€32,667
down €32,667 (-6.3%), from €518,005 to €485,338
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 | €2,226,366 | €2,719,217 | +€492,850 | +22.1% |
| Fixed assets | 21/28 | €1,589,043 | €1,698,724 | +€109,681 | +6.9% |
| Intangible fixed assets | 21 | €15,647 | €6,941 | -€8,706 | -55.6% |
| Tangible fixed assets | 22/27 | €1,573,396 | €1,691,783 | +€118,387 | +7.5% |
| Plant, machinery and equipment | 23 | €1,537,634 | €1,682,375 | +€144,741 | +9.4% |
| Furniture and vehicles | 24 | €34,129 | €8,051 | -€26,079 | -76.4% |
| Other tangible fixed assets | 26 | €1,633 | €1,357 | -€276 | -16.9% |
| Current assets | 29/58 | €637,323 | €1,020,493 | +€383,169 | +60.1% |
| Stocks and contracts in progress | 3 | €97,024 | €122,393 | +€25,368 | +26.1% |
| Stocks | 30/36 | €97,024 | €122,393 | +€25,368 | +26.1% |
| Amounts receivable within one year | 40/41 | €394,432 | €502,486 | +€108,054 | +27.4% |
| Trade receivables | 40 | €366,539 | €497,867 | +€131,328 | +35.8% |
| Other amounts receivable | 41 | €27,893 | €4,619 | -€23,274 | -83.4% |
| Cash at bank and in hand | 54/58 | €145,867 | €395,614 | +€249,747 | +171.2% |
| Total equity and liabilities | 10/49 | €2,226,366 | €2,719,217 | +€492,850 | +22.1% |
| Equity | 10/15 | €760,831 | €921,634 | +€160,803 | +21.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €896,855 | €896,855 | = | 0.0% |
| Distributable reserves | 133 | €896,855 | €896,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,574 | €6,229 | +€160,803 | |
| Amounts payable | 17/49 | €1,465,535 | €1,797,583 | +€332,048 | +22.7% |
| Amounts payable after more than one year | 17 | €1,077,610 | €1,304,693 | +€227,083 | +21.1% |
| Financial debts | 170/4 | €1,077,610 | €1,304,693 | +€227,083 | +21.1% |
| Amounts payable within one year | 42/48 | €312,555 | €426,715 | +€114,160 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €120,936 | €122,917 | +€1,982 | +1.6% |
| Trade debts | 44 | €74,229 | €132,642 | +€58,413 | +78.7% |
| Suppliers | 440/4 | €74,229 | €132,642 | +€58,413 | +78.7% |
| Taxes, remuneration and social security | 45 | €117,390 | €121,306 | +€3,916 | +3.3% |
| Taxes | 450/3 | - | €9,509 | +€9,509 | |
| Remuneration and social security | 454/9 | €117,390 | €111,797 | -€5,593 | -4.8% |
| Other amounts payable | 47/48 | - | €49,850 | +€49,850 | |
| Accrued charges and deferred income | 492/3 | €75,370 | €66,175 | -€9,195 | -12.2% |
| Non-recurring operating income | 76A | €7,192 | - | -€7,192 | |
| Remuneration, social security and pensions | 62 | €1,113,853 | €1,072,564 | -€41,289 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518,005 | €485,338 | -€32,667 | -6.3% |
| Other operating charges | 640/8 | €13,570 | €13,181 | -€388 | -2.9% |
| Gross operating margin | 9900 | €1,339,713 | €1,811,756 | +€472,043 | +35.2% |
| Operating profit (loss) | 9901 | -€305,715 | €240,673 | +€546,388 | |
| Financial income | 75/76B | €1,635 | €11 | -€1,624 | -99.3% |
| Recurring financial income | 75 | €1,635 | €11 | -€1,624 | -99.3% |
| Financial charges | 65/66B | €29,131 | €15,650 | -€13,481 | -46.3% |
| Recurring financial charges | 65 | €29,131 | €15,650 | -€13,481 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | -€333,211 | €225,034 | +€558,245 | |
| Income taxes | 67/77 | €950 | €14,381 | +€13,431 | +1413.2% |
| Profit (loss) for the period | 9904 | -€334,162 | €210,653 | +€544,814 | |
| Profit (loss) for the period to be appropriated | 9905 | -€334,162 | €210,653 | +€544,814 |
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.