XEDUM: 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.
XEDUM
Largest movements
- Cash -€49,366
down €49,366 (-36.2%), from €136,316 to €86,950
mainly Contributions, distributions and other (-€66,825) and Other debts (-€15,830)
- Receivables within one year +€4,822
up €4,822 (+14.1%), from €34,283 to €39,105
of which Trade receivables: +€5,143
- Deferred charges and accrued income -€3,304
down €3,304 (-89.7%), from €3,684 to €380
- Tangible fixed assets -€2,864
down €2,864 (-9.1%), from €31,309 to €28,446
of which Furniture and vehicles: -€5,529
- Reserves -€42,710
down €42,710 (-37.8%), from €112,972 to €70,262
of which Distributable reserves: -€40,710
- Other debts -€15,830
down €15,830 (-21.7%), from €72,965 to €57,135
- Tax, wage and social debts +€6,637
up €6,637 (+68.6%), from €9,668 to €16,305
- Accrued charges and deferred income +€3,208
new in 2025: €3,208
- Taxes +€4,024
up €4,024 (+54.3%), from €7,405 to €11,429
- Other operating charges +€2,505
up €2,505 (+210.2%), from €1,192 to €3,697
- Gross operating margin +€2,034
up €2,034 (+4.2%), from €48,537 to €50,571
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 | €205,593 | €154,881 | -€50,712 | -24.7% |
| Fixed assets | 21/28 | €31,309 | €28,446 | -€2,864 | -9.1% |
| Tangible fixed assets | 22/27 | €31,309 | €28,446 | -€2,864 | -9.1% |
| Land and buildings | 22 | €24,652 | €22,849 | -€1,802 | -7.3% |
| Plant, machinery and equipment | 23 | €652 | €5,120 | +€4,468 | +685.4% |
| Furniture and vehicles | 24 | €6,006 | €476 | -€5,529 | -92.1% |
| Current assets | 29/58 | €174,284 | €126,435 | -€47,848 | -27.5% |
| Amounts receivable within one year | 40/41 | €34,283 | €39,105 | +€4,822 | +14.1% |
| Trade receivables | 40 | €33,963 | €39,105 | +€5,143 | +15.1% |
| Other amounts receivable | 41 | €321 | €0 | -€321 | -100.0% |
| Cash at bank and in hand | 54/58 | €136,316 | €86,950 | -€49,366 | -36.2% |
| Deferred charges and accrued income | 490/1 | €3,684 | €380 | -€3,304 | -89.7% |
| Total equity and liabilities | 10/49 | €205,593 | €154,881 | -€50,712 | -24.7% |
| Equity | 10/15 | €119,972 | €77,262 | -€42,710 | -35.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €112,972 | €70,262 | -€42,710 | -37.8% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100.0% |
| Distributable reserves | 133 | €110,972 | €70,262 | -€40,710 | -36.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,621 | €77,620 | -€8,002 | -9.3% |
| Amounts payable within one year | 42/48 | €85,621 | €74,412 | -€11,210 | -13.1% |
| Financial debts | 43 | €1,137 | €0 | -€1,137 | -100.0% |
| Credit institutions | 430/8 | €1,137 | €0 | -€1,137 | -100.0% |
| Trade debts | 44 | €1,851 | €972 | -€880 | -47.5% |
| Suppliers | 440/4 | €1,851 | €972 | -€880 | -47.5% |
| Taxes, remuneration and social security | 45 | €9,668 | €16,305 | +€6,637 | +68.6% |
| Taxes | 450/3 | €9,668 | €16,305 | +€6,637 | +68.6% |
| Other amounts payable | 47/48 | €72,965 | €57,135 | -€15,830 | -21.7% |
| Accrued charges and deferred income | 492/3 | - | €3,208 | +€3,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,277 | €8,123 | -€154 | -1.9% |
| Other operating charges | 640/8 | €1,192 | €3,697 | +€2,505 | +210.2% |
| Gross operating margin | 9900 | €48,537 | €50,571 | +€2,034 | +4.2% |
| Operating profit (loss) | 9901 | €39,069 | €38,751 | -€318 | -0.8% |
| Financial charges | 65/66B | €2,828 | €3,208 | +€380 | +13.4% |
| Recurring financial charges | 65 | €2,828 | €3,208 | +€380 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €36,241 | €35,543 | -€697 | -1.9% |
| Income taxes | 67/77 | €7,405 | €11,429 | +€4,024 | +54.3% |
| Profit (loss) for the period | 9904 | €28,836 | €24,114 | -€4,721 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,836 | €24,114 | -€4,721 | -16.4% |
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 5 October 2026 via checked.be.