Xelat: 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.
Xelat
Largest movements
- Receivables within one year -€50,481
down €50,481 (-98.8%), from €51,086 to €605
- Tangible fixed assets +€35,491
up €35,491 (+59.9%), from €59,272 to €94,762
of which Furniture and vehicles: +€24,083
- Cash +€9,683
up €9,683 (+129.9%), from €7,452 to €17,134
mainly Receivables within one year (+€50,481) and Depreciation (+€20,715)
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Trade debts +€19,338
up €19,338 (+2508.1%), from €771 to €20,109
- Profit (loss) carried forward -€18,414
down €18,414, from €309 to -€18,105
- Debts after one year +€15,677
up €15,677 (+34.4%), from €45,622 to €61,299
- Tax, wage and social debts -€2,299
down €2,299 (-11.0%), from €20,897 to €18,598
of which Taxes: -€3,511
- Gross operating margin -€32,318
down €32,318 (-25.4%), from €127,382 to €95,064
- Staff costs +€16,014
up €16,014 (+25.8%), from €61,971 to €77,985
- Taxes -€12,500
no longer reported in 2025 (was €12,500)
- Depreciation +€8,534
up €8,534 (+70.1%), from €12,181 to €20,715
- Other operating charges +€2,858
up €2,858 (+67.3%), from €4,243 to €7,101
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 | €120,309 | €115,002 | -€5,307 | -4.4% |
| Fixed assets | 21/28 | €59,272 | €94,762 | +€35,491 | +59.9% |
| Tangible fixed assets | 22/27 | €59,272 | €94,762 | +€35,491 | +59.9% |
| Plant, machinery and equipment | 23 | €8,336 | €19,744 | +€11,408 | +136.8% |
| Furniture and vehicles | 24 | €50,935 | €75,018 | +€24,083 | +47.3% |
| Current assets | 29/58 | €61,037 | €20,239 | -€40,798 | -66.8% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €51,086 | €605 | -€50,481 | -98.8% |
| Other amounts receivable | 41 | €51,086 | €605 | -€50,481 | -98.8% |
| Cash at bank and in hand | 54/58 | €7,452 | €17,134 | +€9,683 | +129.9% |
| Total equity and liabilities | 10/49 | €120,309 | €115,002 | -€5,307 | -4.4% |
| Equity | 10/15 | €18,909 | €495 | -€18,414 | -97.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309 | -€18,105 | -€18,414 | |
| Amounts payable | 17/49 | €101,401 | €114,507 | +€13,107 | +12.9% |
| Amounts payable after more than one year | 17 | €45,622 | €61,299 | +€15,677 | +34.4% |
| Financial debts | 170/4 | €45,622 | €61,299 | +€15,677 | +34.4% |
| Amounts payable within one year | 42/48 | €55,778 | €53,208 | -€2,571 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €14,110 | €14,501 | +€390 | +2.8% |
| Trade debts | 44 | €771 | €20,109 | +€19,338 | +2508.1% |
| Suppliers | 440/4 | €771 | €20,109 | +€19,338 | +2508.1% |
| Taxes, remuneration and social security | 45 | €20,897 | €18,598 | -€2,299 | -11.0% |
| Taxes | 450/3 | €16,011 | €12,500 | -€3,511 | -21.9% |
| Remuneration and social security | 454/9 | €4,886 | €6,098 | +€1,211 | +24.8% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Remuneration, social security and pensions | 62 | €61,971 | €77,985 | +€16,014 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,181 | €20,715 | +€8,534 | +70.1% |
| Other operating charges | 640/8 | €4,243 | €7,101 | +€2,858 | +67.3% |
| Gross operating margin | 9900 | €127,382 | €95,064 | -€32,318 | -25.4% |
| Operating profit (loss) | 9901 | €48,987 | -€10,736 | -€59,723 | |
| Financial income | 75/76B | €1,028 | €5 | -€1,023 | -99.6% |
| Recurring financial income | 75 | €1,028 | €5 | -€1,023 | -99.6% |
| Financial charges | 65/66B | €6,097 | €7,683 | +€1,586 | +26.0% |
| Recurring financial charges | 65 | €6,097 | €7,683 | +€1,586 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €43,918 | -€18,414 | -€62,332 | |
| Income taxes | 67/77 | €12,500 | - | -€12,500 | |
| Profit (loss) for the period | 9904 | €31,418 | -€18,414 | -€49,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,418 | -€18,414 | -€49,832 |
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 9 October 2026 via checked.be.