XENON54: 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.
XENON54
Largest movements
- Receivables within one year +€42,210
up €42,210 (+17.3%), from €244,544 to €286,754
of which Trade receivables: +€38,210
- Cash -€31,969
down €31,969 (-13.8%), from €231,073 to €199,104
mainly Receivables within one year (-€42,210) and Investment in fixed assets (net) (-€42,188)
- Stocks and contracts +€25,750
new in 2025: €25,750
- Tangible fixed assets +€10,335
up €10,335 (+2.5%), from €417,988 to €428,323
of which Furniture and vehicles: +€25,462
- Reserves +€38,900
up €38,900 (+8.6%), from €452,037 to €490,937
- Tax, wage and social debts -€29,922
down €29,922 (-33.9%), from €88,204 to €58,283
of which Taxes: -€19,981
- Trade debts +€25,228
up €25,228 (+13.2%), from €191,802 to €217,030
- Gross operating margin +€23,671
up €23,671 (+6.1%), from €390,324 to €413,995
- Staff costs +€6,630
up €6,630 (+2.2%), from €299,827 to €306,456
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 | €896,073 | €942,399 | +€46,326 | +5.2% |
| Fixed assets | 21/28 | €418,490 | €428,824 | +€10,335 | +2.5% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -100% |
| Tangible fixed assets | 22/27 | €417,988 | €428,323 | +€10,335 | +2.5% |
| Land and buildings | 22 | €381,267 | €367,566 | -€13,701 | -3.6% |
| Plant, machinery and equipment | 23 | €906 | €323 | -€583 | -64.4% |
| Furniture and vehicles | 24 | €34,972 | €60,435 | +€25,462 | +72.8% |
| Other tangible fixed assets | 26 | €843 | €0 | -€843 | -100% |
| Financial fixed assets | 28 | €501 | €501 | = | 0.0% |
| Current assets | 29/58 | €477,584 | €513,575 | +€35,991 | +7.5% |
| Stocks and contracts in progress | 3 | - | €25,750 | +€25,750 | |
| Contracts in progress | 37 | - | €25,750 | +€25,750 | |
| Amounts receivable within one year | 40/41 | €244,544 | €286,754 | +€42,210 | +17.3% |
| Trade receivables | 40 | €242,261 | €280,470 | +€38,210 | +15.8% |
| Other amounts receivable | 41 | €2,283 | €6,284 | +€4,001 | +175% |
| Cash at bank and in hand | 54/58 | €231,073 | €199,104 | -€31,969 | -13.8% |
| Deferred charges and accrued income | 490/1 | €1,967 | €1,967 | = | 0.0% |
| Total equity and liabilities | 10/49 | €896,073 | €942,399 | +€46,326 | +5.2% |
| Equity | 10/15 | €529,111 | €568,113 | +€39,001 | +7.4% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Contributions outside capital | 11 | €74,368 | €74,368 | = | 0.0% |
| Other | 1109/19 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €452,037 | €490,937 | +€38,900 | +8.6% |
| Distributable reserves | 133 | €452,037 | €490,937 | +€38,900 | +8.6% |
| Profit (loss) carried forward | 14 | €2,706 | €2,808 | +€101 | +3.7% |
| Amounts payable | 17/49 | €366,962 | €374,286 | +€7,324 | +2.0% |
| Amounts payable after more than one year | 17 | €46,193 | €53,943 | +€7,750 | +16.8% |
| Financial debts | 170/4 | €46,193 | €53,943 | +€7,750 | +16.8% |
| Amounts payable within one year | 42/48 | €320,769 | €320,343 | -€426 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €16,994 | €20,632 | +€3,639 | +21.4% |
| Financial debts | 43 | €21,272 | €22,108 | +€836 | +3.9% |
| Credit institutions | 430/8 | €21,272 | €22,108 | +€836 | +3.9% |
| Trade debts | 44 | €191,802 | €217,030 | +€25,228 | +13.2% |
| Suppliers | 440/4 | €191,802 | €217,030 | +€25,228 | +13.2% |
| Taxes, remuneration and social security | 45 | €88,204 | €58,283 | -€29,922 | -33.9% |
| Taxes | 450/3 | €35,317 | €15,336 | -€19,981 | -56.6% |
| Remuneration and social security | 454/9 | €52,888 | €42,947 | -€9,941 | -18.8% |
| Other amounts payable | 47/48 | €2,497 | €2,291 | -€206 | -8.2% |
| Remuneration, social security and pensions | 62 | €299,827 | €306,456 | +€6,630 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,760 | €31,853 | +€2,094 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €7,444 | €6,126 | -€1,318 | -17.7% |
| Gross operating margin | 9900 | €390,324 | €413,995 | +€23,671 | +6.1% |
| Operating profit (loss) | 9901 | €53,294 | €69,560 | +€16,266 | +30.5% |
| Financial income | 75/76B | €74 | €400 | +€326 | +440% |
| Recurring financial income | 75 | €74 | €400 | +€326 | +440% |
| Financial charges | 65/66B | €8,298 | €6,834 | -€1,464 | -17.6% |
| Recurring financial charges | 65 | €8,298 | €6,834 | -€1,464 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €45,070 | €63,126 | +€18,057 | +40.1% |
| Income taxes | 67/77 | €20,441 | €24,125 | +€3,684 | +18.0% |
| Profit (loss) for the period | 9904 | €24,629 | €39,001 | +€14,372 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,629 | €39,001 | +€14,372 | +58.4% |
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 30 October 2026 via checked.be.