XEN: 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.
XEN
Largest movements
- Cash +€22,010
up €22,010 (+39.4%), from €55,901 to €77,912
mainly Receivables within one year (+€17,879) and Net result for the year (+€17,464)
- Receivables within one year -€17,879
down €17,879 (-53.8%), from €33,242 to €15,362
- Deferred charges and accrued income +€2,409
up €2,409 (+188%), from €1,279 to €3,688
- Tangible fixed assets -€1,444
down €1,444 (-29.2%), from €4,939 to €3,495
- Reserves +€17,464
up €17,464 (+31.5%), from €55,524 to €72,988
- Tax, wage and social debts -€5,526
down €5,526 (-33.3%), from €16,582 to €11,056
- Other debts -€4,035
down €4,035 (-85.1%), from €4,741 to €706
- Trade debts -€2,808
down €2,808 (-44.6%), from €6,292 to €3,484
- Gross operating margin +€13,104
up €13,104 (+93.1%), from €14,068 to €27,173
- Taxes +€3,013
up €3,013 (+67.7%), from €4,451 to €7,464
- Depreciation +€288
up €288 (+24.9%), from €1,157 to €1,444
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 | €95,361 | €100,457 | +€5,096 | +5.3% |
| Fixed assets | 21/28 | €4,939 | €3,495 | -€1,444 | -29.2% |
| Tangible fixed assets | 22/27 | €4,939 | €3,495 | -€1,444 | -29.2% |
| Furniture and vehicles | 24 | €4,939 | €3,495 | -€1,444 | -29.2% |
| Current assets | 29/58 | €90,422 | €96,962 | +€6,540 | +7.2% |
| Amounts receivable within one year | 40/41 | €33,242 | €15,362 | -€17,879 | -53.8% |
| Trade receivables | 40 | €33,242 | €15,362 | -€17,879 | -53.8% |
| Cash at bank and in hand | 54/58 | €55,901 | €77,912 | +€22,010 | +39.4% |
| Deferred charges and accrued income | 490/1 | €1,279 | €3,688 | +€2,409 | +188% |
| Total equity and liabilities | 10/49 | €95,361 | €100,457 | +€5,096 | +5.3% |
| Equity | 10/15 | €67,746 | €85,210 | +€17,464 | +25.8% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €55,524 | €72,988 | +€17,464 | +31.5% |
| Distributable reserves | 133 | €55,524 | €72,988 | +€17,464 | +31.5% |
| Profit (loss) carried forward | 14 | €4,022 | €4,022 | = | 0.0% |
| Amounts payable | 17/49 | €27,615 | €15,246 | -€12,369 | -44.8% |
| Amounts payable within one year | 42/48 | €27,615 | €15,246 | -€12,369 | -44.8% |
| Trade debts | 44 | €6,292 | €3,484 | -€2,808 | -44.6% |
| Suppliers | 440/4 | €6,292 | €3,484 | -€2,808 | -44.6% |
| Taxes, remuneration and social security | 45 | €16,582 | €11,056 | -€5,526 | -33.3% |
| Taxes | 450/3 | €16,582 | €11,056 | -€5,526 | -33.3% |
| Other amounts payable | 47/48 | €4,741 | €706 | -€4,035 | -85.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,157 | €1,444 | +€288 | +24.9% |
| Other operating charges | 640/8 | €556 | €640 | +€83 | +15.0% |
| Gross operating margin | 9900 | €14,068 | €27,173 | +€13,104 | +93.1% |
| Operating profit (loss) | 9901 | €12,355 | €25,089 | +€12,733 | +103% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €189 | €165 | -€24 | -12.7% |
| Recurring financial charges | 65 | €189 | €165 | -€24 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €12,166 | €24,928 | +€12,762 | +105% |
| Income taxes | 67/77 | €4,451 | €7,464 | +€3,013 | +67.7% |
| Profit (loss) for the period | 9904 | €7,715 | €17,464 | +€9,749 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €7,715 | €17,464 | +€9,749 | +126% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.