XEMEX: 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.
XEMEX
Largest movements
- Current investments +€30,000
up €30,000 (+21.4%), from €140,000 to €170,000
- Cash +€21,250
up €21,250 (+99.2%), from €21,427 to €42,677
mainly Net result for the year (+€48,083) and Depreciation (+€14,008)
- Tangible fixed assets -€14,008
down €14,008 (-4.3%), from €324,722 to €310,714
- Reserves +€48,000
new in 2025: €48,000
- Debts after one year -€15,027
down €15,027 (-42.5%), from €35,334 to €20,307
- Taxes +€6,872
up €6,872 (+42.4%), from €16,202 to €23,074
- Gross operating margin +€5,589
up €5,589 (+7.0%), from €79,893 to €85,482
- Financial income +€1,237
up €1,237 (+52.6%), from €2,351 to €3,588
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 | €488,899 | €524,495 | +€35,596 | +7.3% |
| Fixed assets | 21/28 | €324,722 | €310,714 | -€14,008 | -4.3% |
| Tangible fixed assets | 22/27 | €324,722 | €310,714 | -€14,008 | -4.3% |
| Land and buildings | 22 | €324,722 | €310,714 | -€14,008 | -4.3% |
| Current assets | 29/58 | €164,177 | €213,781 | +€49,604 | +30.2% |
| Amounts receivable within one year | 40/41 | €2,750 | €1,104 | -€1,646 | -59.9% |
| Trade receivables | 40 | €2,750 | €1,104 | -€1,646 | -59.9% |
| Current investments | 50/53 | €140,000 | €170,000 | +€30,000 | +21.4% |
| Cash at bank and in hand | 54/58 | €21,427 | €42,677 | +€21,250 | +99.2% |
| Total equity and liabilities | 10/49 | €488,899 | €524,495 | +€35,596 | +7.3% |
| Equity | 10/15 | €435,770 | €483,853 | +€48,083 | +11.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | - | €48,000 | +€48,000 | |
| Distributable reserves | 133 | - | €48,000 | +€48,000 | |
| Profit (loss) carried forward | 14 | €360,770 | €360,853 | +€83 | 0.0% |
| Amounts payable | 17/49 | €53,129 | €40,642 | -€12,487 | -23.5% |
| Amounts payable after more than one year | 17 | €35,334 | €20,307 | -€15,027 | -42.5% |
| Financial debts | 170/4 | €35,334 | €20,307 | -€15,027 | -42.5% |
| Amounts payable within one year | 42/48 | €17,721 | €20,155 | +€2,434 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €14,856 | €15,027 | +€171 | +1.2% |
| Trade debts | 44 | €437 | €772 | +€335 | +76.7% |
| Suppliers | 440/4 | €50 | €372 | +€322 | +644.0% |
| Bills of exchange payable | 441 | €387 | €400 | +€13 | +3.4% |
| Advances received on contracts in progress | 46 | €268 | - | -€268 | |
| Taxes, remuneration and social security | 45 | €2,054 | €4,029 | +€1,975 | +96.2% |
| Taxes | 450/3 | €2,054 | €4,029 | +€1,975 | +96.2% |
| Other amounts payable | 47/48 | €106 | €327 | +€221 | +208.5% |
| Accrued charges and deferred income | 492/3 | €74 | €180 | +€106 | +143.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,008 | €14,008 | = | 0.0% |
| Other operating charges | 640/8 | €3,064 | €3,189 | +€125 | +4.1% |
| Gross operating margin | 9900 | €79,893 | €85,482 | +€5,589 | +7.0% |
| Operating profit (loss) | 9901 | €62,821 | €68,285 | +€5,464 | +8.7% |
| Financial income | 75/76B | €2,351 | €3,588 | +€1,237 | +52.6% |
| Recurring financial income | 75 | €2,351 | €3,588 | +€1,237 | +52.6% |
| Financial charges | 65/66B | €1,129 | €716 | -€413 | -36.6% |
| Recurring financial charges | 65 | €1,129 | €716 | -€413 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €64,043 | €71,157 | +€7,114 | +11.1% |
| Income taxes | 67/77 | €16,202 | €23,074 | +€6,872 | +42.4% |
| Profit (loss) for the period | 9904 | €47,841 | €48,083 | +€242 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,841 | €48,083 | +€242 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.