XERAM: 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.
XERAM
Largest movements
- Tangible fixed assets -€145,734
down €145,734 (-85.6%), from €170,196 to €24,461
of which Land and buildings: -€127,038
- Cash -€143,399
down €143,399 (-58.6%), from €244,761 to €101,362
mainly Contributions, distributions and other (-€125,392) and Debts after one year (-€100,777)
- Stocks and contracts +€40,760
up €40,760 (+163%), from €25,000 to €65,760
of which Stocks: +€40,760
- Receivables within one year -€5,996
down €5,996 (-5.1%), from €118,321 to €112,325
of which Other amounts receivable: -€5,236
- Reserves -€165,582
down €165,582 (-45.0%), from €367,560 to €201,978
of which Distributable reserves: -€165,582
- Debts after one year -€100,777
down €100,777 (-100%), from €100,777 to €0
- Trade debts +€40,371
up €40,371 (+119%), from €33,852 to €74,223
- Current portion of long-term debt -€14,807
down €14,807 (-95.6%), from €15,492 to €685
- Revaluation surpluses -€7,631
down €7,631 (-100%), from €7,631 to €0
- Gross operating margin -€154,251
down €154,251, from €121,646 to -€32,605
- Taxes -€18,191
down €18,191 (-99.3%), from €18,323 to €132
- Financial charges -€8,668
down €8,668 (-68.9%), from €12,580 to €3,912
- Depreciation -€6,844
down €6,844 (-24.4%), from €28,036 to €21,192
- Provisions +€4,515
up €4,515 (+56.6%), from -€7,982 to -€3,467
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 | €562,989 | €304,961 | -€258,028 | -45.8% |
| Fixed assets | 21/28 | €171,397 | €24,813 | -€146,584 | -85.5% |
| Intangible fixed assets | 21 | €1,202 | €352 | -€850 | -70.7% |
| Tangible fixed assets | 22/27 | €170,196 | €24,461 | -€145,734 | -85.6% |
| Land and buildings | 22 | €127,038 | €0 | -€127,038 | -100% |
| Plant, machinery and equipment | 23 | €572 | €360 | -€212 | -37.1% |
| Furniture and vehicles | 24 | €42,586 | €24,101 | -€18,484 | -43.4% |
| Current assets | 29/58 | €391,592 | €280,148 | -€111,443 | -28.5% |
| Stocks and contracts in progress | 3 | €25,000 | €65,760 | +€40,760 | +163% |
| Stocks | 30/36 | €25,000 | €65,760 | +€40,760 | +163% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €118,321 | €112,325 | -€5,996 | -5.1% |
| Trade receivables | 40 | €89,355 | €88,594 | -€761 | -0.9% |
| Other amounts receivable | 41 | €28,967 | €23,731 | -€5,236 | -18.1% |
| Cash at bank and in hand | 54/58 | €244,761 | €101,362 | -€143,399 | -58.6% |
| Deferred charges and accrued income | 490/1 | €3,509 | €701 | -€2,807 | -80.0% |
| Total equity and liabilities | 10/49 | €562,989 | €304,961 | -€258,028 | -45.8% |
| Equity | 10/15 | €393,791 | €214,699 | -€179,092 | -45.5% |
| Contributions | 10/11 | €18,600 | €12,721 | -€5,879 | -31.6% |
| Revaluation surpluses | 12 | €7,631 | €0 | -€7,631 | -100% |
| Reserves | 13 | €367,560 | €201,978 | -€165,582 | -45.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €367,560 | €201,978 | -€165,582 | -45.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €6,809 | €3,342 | -€3,467 | -50.9% |
| Provisions for liabilities and charges | 160/5 | €6,809 | €3,342 | -€3,467 | -50.9% |
| Other liabilities and charges | 164/5 | €6,809 | €3,342 | -€3,467 | -50.9% |
| Amounts payable | 17/49 | €162,389 | €86,920 | -€75,469 | -46.5% |
| Amounts payable after more than one year | 17 | €100,777 | €0 | -€100,777 | -100% |
| Financial debts | 170/4 | €100,777 | €0 | -€100,777 | -100% |
| Amounts payable within one year | 42/48 | €56,886 | €86,920 | +€30,034 | +52.8% |
| Current portion of amounts payable after more than one year | 42 | €15,492 | €685 | -€14,807 | -95.6% |
| Trade debts | 44 | €33,852 | €74,223 | +€40,371 | +119% |
| Suppliers | 440/4 | €33,852 | €74,223 | +€40,371 | +119% |
| Taxes, remuneration and social security | 45 | €0 | €2,700 | +€2,700 | |
| Taxes | 450/3 | €0 | €2,700 | +€2,700 | |
| Other amounts payable | 47/48 | €7,542 | €9,312 | +€1,770 | +23.5% |
| Accrued charges and deferred income | 492/3 | €4,726 | €0 | -€4,726 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,036 | €21,192 | -€6,844 | -24.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€7,982 | -€3,467 | +€4,515 | +56.6% |
| Other operating charges | 640/8 | €3,049 | €3,166 | +€116 | +3.8% |
| Gross operating margin | 9900 | €121,646 | -€32,605 | -€154,251 | |
| Operating profit (loss) | 9901 | €98,543 | -€53,496 | -€152,039 | |
| Financial income | 75/76B | - | €3,839 | +€3,839 | |
| Recurring financial income | 75 | - | €3,839 | +€3,839 | |
| Financial charges | 65/66B | €12,580 | €3,912 | -€8,668 | -68.9% |
| Recurring financial charges | 65 | €12,580 | €3,912 | -€8,668 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €85,963 | -€53,568 | -€139,531 | |
| Income taxes | 67/77 | €18,323 | €132 | -€18,191 | -99.3% |
| Profit (loss) for the period | 9904 | €67,640 | -€53,700 | -€121,340 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,640 | -€53,700 | -€121,340 |
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 19 October 2026 via checked.be.