XEON: 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.
XEON
Largest movements
- Financial fixed assets -€618,300
down €618,300 (-43.9%), from €1.4m to €790,021
- Receivables after one year +€443,300
new in 2025: €443,300
- Tangible fixed assets +€112,356
up €112,356 (+4.9%), from €2.3m to €2.4m
of which Plant, machinery and equipment: +€105,389
- Receivables within one year -€58,933
down €58,933 (-23.6%), from €250,068 to €191,135
of which Other amounts receivable: -€54,946
- Cash -€46,368
down €46,368 (-56.9%), from €81,434 to €35,066
mainly Receivables after one year (-€443,300) and Net result for the year (-€197,139)
- Reserves -€529,513
down €529,513 (-16.4%), from €3.2m to €2.7m
- Profit (loss) carried forward +€332,374
up €332,374, from -€332,374 to €0
- Other debts +€195,941
up €195,941 (+137.7%), from €142,281 to €338,222
- Debts after one year -€163,070
down €163,070 (-22.0%), from €741,924 to €578,855
- Current portion of long-term debt -€49,689
down €49,689 (-44.1%), from €112,758 to €63,070
- Financial income -€65,596
down €65,596 (-67.4%), from €97,349 to €31,753
of which Non-recurring financial income: -€38,189
- Gross operating margin -€18,956
down €18,956 (-34.4%), from -€55,040 to -€73,996
- Other operating charges +€7,386
up €7,386 (+160.2%), from €4,611 to €11,997
- Depreciation +€6,318
up €6,318 (+5.4%), from €116,777 to €123,095
- Financial charges -€4,565
down €4,565 (-22.9%), from €19,970 to €15,405
of which Financial charges: -€4,565
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 | €4,046,162 | €3,857,212 | -€188,950 | -4.7% |
| Fixed assets | 21/28 | €3,690,159 | €3,184,215 | -€505,944 | -13.7% |
| Tangible fixed assets | 22/27 | €2,281,838 | €2,394,194 | +€112,356 | +4.9% |
| Land and buildings | 22 | €1,480,073 | €1,448,609 | -€31,463 | -2.1% |
| Plant, machinery and equipment | 23 | €672,949 | €778,338 | +€105,389 | +15.7% |
| Furniture and vehicles | 24 | €107,259 | €150,083 | +€42,824 | +39.9% |
| Other tangible fixed assets | 26 | €21,557 | €17,164 | -€4,393 | -20.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,408,321 | €790,021 | -€618,300 | -43.9% |
| Current assets | 29/58 | €356,003 | €672,997 | +€316,994 | +89.0% |
| Amounts receivable after more than one year | 29 | - | €443,300 | +€443,300 | |
| Other amounts receivable | 291 | - | €443,300 | +€443,300 | |
| Stocks and contracts in progress | 3 | €1,131 | €1,131 | = | 0.0% |
| Stocks | 30/36 | €1,131 | €1,131 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €250,068 | €191,135 | -€58,933 | -23.6% |
| Trade receivables | 40 | €25,848 | €21,861 | -€3,987 | -15.4% |
| Other amounts receivable | 41 | €224,220 | €169,275 | -€54,946 | -24.5% |
| Cash at bank and in hand | 54/58 | €81,434 | €35,066 | -€46,368 | -56.9% |
| Deferred charges and accrued income | 490/1 | €23,370 | €2,365 | -€21,005 | -89.9% |
| Total equity and liabilities | 10/49 | €4,046,162 | €3,857,212 | -€188,950 | -4.7% |
| Equity | 10/15 | €2,974,604 | €2,777,465 | -€197,139 | -6.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €3,226,978 | €2,697,465 | -€529,513 | -16.4% |
| Distributable reserves | 133 | €3,226,978 | €2,697,465 | -€529,513 | -16.4% |
| Profit (loss) carried forward | 14 | -€332,374 | €0 | +€332,374 | |
| Amounts payable | 17/49 | €1,071,558 | €1,079,747 | +€8,189 | +0.8% |
| Amounts payable after more than one year | 17 | €741,924 | €578,855 | -€163,070 | -22.0% |
| Financial debts | 170/4 | €741,924 | €578,855 | -€163,070 | -22.0% |
| Amounts payable within one year | 42/48 | €325,834 | €500,892 | +€175,059 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €112,758 | €63,070 | -€49,689 | -44.1% |
| Trade debts | 44 | €62,036 | €95,143 | +€33,107 | +53.4% |
| Suppliers | 440/4 | €62,036 | €95,143 | +€33,107 | +53.4% |
| Taxes, remuneration and social security | 45 | €8,758 | €4,458 | -€4,301 | -49.1% |
| Taxes | 450/3 | €8,758 | €4,458 | -€4,301 | -49.1% |
| Other amounts payable | 47/48 | €142,281 | €338,222 | +€195,941 | +137.7% |
| Accrued charges and deferred income | 492/3 | €3,800 | €0 | -€3,800 | -100.0% |
| Remuneration, social security and pensions | 62 | €269 | -€166 | -€434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,777 | €123,095 | +€6,318 | +5.4% |
| Other operating charges | 640/8 | €4,611 | €11,997 | +€7,386 | +160.2% |
| Non-recurring operating charges | 66A | - | €4,100 | +€4,100 | |
| Gross operating margin | 9900 | -€55,040 | -€73,996 | -€18,956 | -34.4% |
| Operating profit (loss) | 9901 | -€176,697 | -€213,022 | -€36,326 | -20.6% |
| Financial income | 75/76B | €97,349 | €31,753 | -€65,596 | -67.4% |
| Recurring financial income | 75 | €59,160 | €31,753 | -€27,407 | -46.3% |
| Non-recurring financial income | 76B | €38,189 | €0 | -€38,189 | -100.0% |
| Financial charges | 65/66B | €19,970 | €15,405 | -€4,565 | -22.9% |
| Recurring financial charges | 65 | €19,970 | €15,405 | -€4,565 | -22.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€99,317 | -€196,674 | -€97,357 | -98.0% |
| Income taxes | 67/77 | €330 | €465 | +€135 | +41.0% |
| Profit (loss) for the period | 9904 | -€99,647 | -€197,139 | -€97,492 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€99,647 | -€197,139 | -€97,492 | -97.8% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.