XELEC: 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.
XELEC
Largest movements
- Cash -€141,325
down €141,325 (-71.3%), from €198,148 to €56,824
mainly Contributions, distributions and other (-€521,404) and Debts after one year (-€15,291)
- Receivables after one year -€85,000
down €85,000 (-100%), from €85,000 to €0
- Tangible fixed assets -€23,499
down €23,499 (-24.5%), from €95,769 to €72,270
of which Furniture and vehicles: -€17,507
- Receivables within one year -€14,995
down €14,995 (-4.2%), from €361,026 to €346,031
of which Trade receivables: -€30,551
- Stocks and contracts +€11,835
up €11,835 (+6.1%), from €193,338 to €205,174
of which Contracts in progress: +€11,835
- Reserves -€515,433
down €515,433 (-71.9%), from €717,360 to €201,927
of which Distributable reserves: -€515,433
- Other debts +€192,975
up €192,975 (+12,128%), from €1,591 to €194,566
- Trade debts +€94,079
up €94,079 (+84.7%), from €111,108 to €205,187
- Debts after one year -€15,291
down €15,291 (-30.9%), from €49,538 to €34,247
- Tax, wage and social debts -€13,257
down €13,257 (-49.3%), from €26,894 to €13,637
of which Taxes: -€12,116
- Gross operating margin -€36,000
down €36,000 (-24.0%), from €150,227 to €114,228
- Taxes -€11,513
down €11,513 (-73.2%), from €15,718 to €4,205
- Write-downs +€3,919
new in 2025: €3,919
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 | €952,129 | €695,861 | -€256,268 | -26.9% |
| Fixed assets | 21/28 | €98,618 | €75,119 | -€23,499 | -23.8% |
| Tangible fixed assets | 22/27 | €95,769 | €72,270 | -€23,499 | -24.5% |
| Plant, machinery and equipment | 23 | €23,048 | €17,056 | -€5,992 | -26.0% |
| Furniture and vehicles | 24 | €72,721 | €55,215 | -€17,507 | -24.1% |
| Financial fixed assets | 28 | €2,849 | €2,849 | = | 0.0% |
| Current assets | 29/58 | €853,511 | €620,742 | -€232,769 | -27.3% |
| Amounts receivable after more than one year | 29 | €85,000 | €0 | -€85,000 | -100% |
| Other amounts receivable | 291 | €85,000 | €0 | -€85,000 | -100% |
| Stocks and contracts in progress | 3 | €193,338 | €205,174 | +€11,835 | +6.1% |
| Stocks | 30/36 | €20,000 | €20,000 | = | 0.0% |
| Contracts in progress | 37 | €173,338 | €185,174 | +€11,835 | +6.8% |
| Amounts receivable within one year | 40/41 | €361,026 | €346,031 | -€14,995 | -4.2% |
| Trade receivables | 40 | €340,267 | €309,716 | -€30,551 | -9.0% |
| Other amounts receivable | 41 | €20,758 | €36,314 | +€15,556 | +74.9% |
| Cash at bank and in hand | 54/58 | €198,148 | €56,824 | -€141,325 | -71.3% |
| Deferred charges and accrued income | 490/1 | €15,999 | €12,713 | -€3,285 | -20.5% |
| Total equity and liabilities | 10/49 | €952,129 | €695,861 | -€256,268 | -26.9% |
| Equity | 10/15 | €748,360 | €232,927 | -€515,433 | -68.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €717,360 | €201,927 | -€515,433 | -71.9% |
| Non-distributable reserves | 130/1 | €16,600 | €16,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,600 | €16,600 | = | 0.0% |
| Distributable reserves | 133 | €700,760 | €185,327 | -€515,433 | -73.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €203,769 | €462,934 | +€259,165 | +127% |
| Amounts payable after more than one year | 17 | €49,538 | €34,247 | -€15,291 | -30.9% |
| Financial debts | 170/4 | €49,538 | €34,247 | -€15,291 | -30.9% |
| Amounts payable within one year | 42/48 | €154,186 | €428,681 | +€274,495 | +178% |
| Current portion of amounts payable after more than one year | 42 | €14,593 | €15,291 | +€698 | +4.8% |
| Trade debts | 44 | €111,108 | €205,187 | +€94,079 | +84.7% |
| Suppliers | 440/4 | €111,108 | €205,187 | +€94,079 | +84.7% |
| Taxes, remuneration and social security | 45 | €26,894 | €13,637 | -€13,257 | -49.3% |
| Taxes | 450/3 | €15,718 | €3,602 | -€12,116 | -77.1% |
| Remuneration and social security | 454/9 | €11,176 | €10,035 | -€1,141 | -10.2% |
| Other amounts payable | 47/48 | €1,591 | €194,566 | +€192,975 | +12,128% |
| Accrued charges and deferred income | 492/3 | €45 | €6 | -€39 | -86.0% |
| Non-recurring operating income | 76A | €17,355 | €0 | -€17,355 | -100% |
| Remuneration, social security and pensions | 62 | €70,998 | €71,485 | +€487 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,335 | €23,499 | +€164 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,919 | +€3,919 | |
| Other operating charges | 640/8 | €4,386 | €5,746 | +€1,360 | +31.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €150,227 | €114,228 | -€36,000 | -24.0% |
| Operating profit (loss) | 9901 | €51,509 | €9,579 | -€41,930 | -81.4% |
| Financial income | 75/76B | €3,501 | €3,801 | +€300 | +8.6% |
| Recurring financial income | 75 | €3,501 | €3,801 | +€300 | +8.6% |
| Financial charges | 65/66B | €3,801 | €3,204 | -€598 | -15.7% |
| Recurring financial charges | 65 | €3,801 | €3,204 | -€598 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €51,208 | €10,176 | -€41,032 | -80.1% |
| Income taxes | 67/77 | €15,718 | €4,205 | -€11,513 | -73.2% |
| Profit (loss) for the period | 9904 | €35,490 | €5,971 | -€29,518 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,490 | €5,971 | -€29,518 | -83.2% |
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 17 October 2026 via checked.be.