XEE: 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.
XEE
Largest movements
- Stocks and contracts +€179,628
up €179,628 (+61.3%), from €292,860 to €472,488
- Receivables within one year -€88,041
down €88,041 (-74.0%), from €119,010 to €30,969
of which Trade receivables: -€76,922
- Reserves +€60,984
up €60,984 (+65.5%), from €93,171 to €154,155
of which Distributable reserves: +€60,984
- Tax, wage and social debts +€27,677
up €27,677 (+739%), from €3,744 to €31,421
- Other debts +€17,074
up €17,074 (+9.2%), from €184,807 to €201,881
- Advances received -€10,700
down €10,700 (-100%), from €10,700 to €0
- Gross operating margin +€63,262
up €63,262 (+167%), from €37,905 to €101,166
- Taxes +€23,039
up €23,039 (+279%), from €8,244 to €31,283
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 | €424,381 | €517,889 | +€93,508 | +22.0% |
| Current assets | 29/58 | €424,381 | €517,889 | +€93,508 | +22.0% |
| Stocks and contracts in progress | 3 | €292,860 | €472,488 | +€179,628 | +61.3% |
| Stocks | 30/36 | €292,860 | €472,488 | +€179,628 | +61.3% |
| Amounts receivable within one year | 40/41 | €119,010 | €30,969 | -€88,041 | -74.0% |
| Trade receivables | 40 | €107,891 | €30,969 | -€76,922 | -71.3% |
| Other amounts receivable | 41 | €11,119 | €0 | -€11,119 | -100% |
| Cash at bank and in hand | 54/58 | €11,630 | €13,205 | +€1,575 | +13.5% |
| Deferred charges and accrued income | 490/1 | €881 | €1,226 | +€346 | +39.2% |
| Total equity and liabilities | 10/49 | €424,381 | €517,889 | +€93,508 | +22.0% |
| Equity | 10/15 | €131,223 | €192,207 | +€60,984 | +46.5% |
| Contributions | 10/11 | €14,880 | €14,880 | = | 0.0% |
| Reserves | 13 | €93,171 | €154,155 | +€60,984 | +65.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €91,311 | €152,295 | +€60,984 | +66.8% |
| Profit (loss) carried forward | 14 | €23,172 | €23,172 | = | 0.0% |
| Amounts payable | 17/49 | €293,158 | €325,682 | +€32,524 | +11.1% |
| Amounts payable after more than one year | 17 | €85,000 | €85,000 | = | 0.0% |
| Other amounts payable | 178/9 | €85,000 | €85,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €199,735 | €234,065 | +€34,330 | +17.2% |
| Trade debts | 44 | €484 | €763 | +€279 | +57.5% |
| Suppliers | 440/4 | €484 | €763 | +€279 | +57.5% |
| Advances received on contracts in progress | 46 | €10,700 | €0 | -€10,700 | -100% |
| Taxes, remuneration and social security | 45 | €3,744 | €31,421 | +€27,677 | +739% |
| Taxes | 450/3 | €3,744 | €31,421 | +€27,677 | +739% |
| Other amounts payable | 47/48 | €184,807 | €201,881 | +€17,074 | +9.2% |
| Accrued charges and deferred income | 492/3 | €8,423 | €6,617 | -€1,806 | -21.4% |
| Other operating charges | 640/8 | €2,059 | €2,276 | +€217 | +10.5% |
| Gross operating margin | 9900 | €37,905 | €101,166 | +€63,262 | +167% |
| Operating profit (loss) | 9901 | €35,846 | €98,891 | +€63,045 | +176% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €5,900 | €6,624 | +€724 | +12.3% |
| Recurring financial charges | 65 | €5,900 | €6,624 | +€724 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €29,946 | €92,267 | +€62,321 | +208% |
| Income taxes | 67/77 | €8,244 | €31,283 | +€23,039 | +279% |
| Profit (loss) for the period | 9904 | €21,702 | €60,984 | +€39,282 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €21,702 | €60,984 | +€39,282 | +181% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.