XERO: 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.
XERO
Largest movements
- Current investments -€307,206
down €307,206 (-21.3%), from €1.4m to €1.1m
- Stocks and contracts +€119,513
up €119,513 (+44.5%), from €268,462 to €387,975
- Cash -€77,551
down €77,551 (-33.8%), from €229,337 to €151,786
mainly Contributions, distributions and other (-€165,000) and Stocks and contracts (-€119,513)
- Reserves -€153,956
down €153,956 (-8.7%), from €1.8m to €1.6m
- Current portion of long-term debt -€106,509
down €106,509 (-8.7%), from €1.2m to €1.1m
- Financial income +€71,113
up €71,113 (+92.0%), from €77,259 to €148,372
- Gross operating margin -€40,024
down €40,024 (-281%), from -€14,246 to -€54,270
- Financial charges +€23,652
up €23,652 (+58.4%), from €40,491 to €64,143
- Taxes -€2,711
down €2,711 (-84.0%), from €3,227 to €516
- Other operating charges +€2,029
up €2,029 (+82.0%), from €2,475 to €4,503
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 | €3,168,510 | €2,890,121 | -€278,389 | -8.8% |
| Fixed assets | 21/28 | €1,208,124 | €1,201,667 | -€6,457 | -0.5% |
| Tangible fixed assets | 22/27 | €226,731 | €219,851 | -€6,880 | -3.0% |
| Land and buildings | 22 | €199,593 | €194,192 | -€5,401 | -2.7% |
| Plant, machinery and equipment | 23 | €4,937 | €8,134 | +€3,197 | +64.8% |
| Furniture and vehicles | 24 | €22,201 | €17,525 | -€4,676 | -21.1% |
| Financial fixed assets | 28 | €981,393 | €981,816 | +€424 | 0.0% |
| Current assets | 29/58 | €1,960,387 | €1,688,454 | -€271,932 | -13.9% |
| Stocks and contracts in progress | 3 | €268,462 | €387,975 | +€119,513 | +44.5% |
| Stocks | 30/36 | €268,462 | €387,975 | +€119,513 | +44.5% |
| Amounts receivable within one year | 40/41 | €16,340 | €10,048 | -€6,292 | -38.5% |
| Trade receivables | 40 | €10,180 | €1,468 | -€8,712 | -85.6% |
| Other amounts receivable | 41 | €6,160 | €8,580 | +€2,420 | +39.3% |
| Current investments | 50/53 | €1,441,709 | €1,134,503 | -€307,206 | -21.3% |
| Cash at bank and in hand | 54/58 | €229,337 | €151,786 | -€77,551 | -33.8% |
| Deferred charges and accrued income | 490/1 | €4,538 | €4,141 | -€397 | -8.7% |
| Total equity and liabilities | 10/49 | €3,168,510 | €2,890,121 | -€278,389 | -8.8% |
| Equity | 10/15 | €1,778,716 | €1,624,760 | -€153,956 | -8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,760,116 | €1,606,160 | -€153,956 | -8.7% |
| Distributable reserves | 133 | €1,760,116 | €1,606,160 | -€153,956 | -8.7% |
| Amounts payable | 17/49 | €1,389,794 | €1,265,361 | -€124,433 | -9.0% |
| Amounts payable after more than one year | 17 | €162,825 | €147,200 | -€15,625 | -9.6% |
| Financial debts | 170/4 | €162,825 | €147,200 | -€15,625 | -9.6% |
| Amounts payable within one year | 42/48 | €1,226,219 | €1,118,161 | -€108,058 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €1,222,134 | €1,115,625 | -€106,509 | -8.7% |
| Trade debts | 44 | €1,603 | €1,587 | -€16 | -1.0% |
| Suppliers | 440/4 | €1,603 | €1,587 | -€16 | -1.0% |
| Taxes, remuneration and social security | 45 | €2,036 | €345 | -€1,691 | -83.1% |
| Taxes | 450/3 | €2,036 | €345 | -€1,691 | -83.1% |
| Other amounts payable | 47/48 | €446 | €604 | +€158 | +35.3% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,013 | €13,896 | -€117 | -0.8% |
| Other operating charges | 640/8 | €2,475 | €4,503 | +€2,029 | +82.0% |
| Gross operating margin | 9900 | -€14,246 | -€54,270 | -€40,024 | -281% |
| Operating profit (loss) | 9901 | -€30,733 | -€72,669 | -€41,936 | -136% |
| Financial income | 75/76B | €77,259 | €148,372 | +€71,113 | +92.0% |
| Recurring financial income | 75 | €77,259 | €148,372 | +€71,113 | +92.0% |
| Financial charges | 65/66B | €40,491 | €64,143 | +€23,652 | +58.4% |
| Recurring financial charges | 65 | €40,491 | €64,143 | +€23,652 | +58.4% |
| Profit (loss) for the period before taxes | 9903 | €6,035 | €11,560 | +€5,525 | +91.6% |
| Income taxes | 67/77 | €3,227 | €516 | -€2,711 | -84.0% |
| Profit (loss) for the period | 9904 | €2,807 | €11,044 | +€8,236 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €2,807 | €11,044 | +€8,236 | +293% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.