XJ: 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.
XJ
Largest movements
- Cash +€13,022
up €13,022 (+62.0%), from €21,016 to €34,037
mainly Net result for the year (+€20,835) and Receivables within one year (+€12,039)
- Receivables within one year -€12,039
down €12,039 (-61.5%), from €19,572 to €7,533
of which Trade receivables: -€9,545
- Tangible fixed assets -€8,724
down €8,724 (-2.0%), from €426,407 to €417,683
- Debts after one year -€30,048
down €30,048 (-12.2%), from €246,043 to €215,995
- Reserves +€20,835
up €20,835 (+14.2%), from €146,433 to €167,268
- Gross operating margin -€6,453
down €6,453 (-11.6%), from €55,405 to €48,952
- Taxes -€2,002
down €2,002 (-16.3%), from €12,247 to €10,245
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 | €490,709 | €482,795 | -€7,913 | -1.6% |
| Fixed assets | 21/28 | €426,437 | €417,713 | -€8,724 | -2.0% |
| Tangible fixed assets | 22/27 | €426,407 | €417,683 | -€8,724 | -2.0% |
| Land and buildings | 22 | €426,407 | €417,683 | -€8,724 | -2.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €64,271 | €65,082 | +€811 | +1.3% |
| Stocks and contracts in progress | 3 | €23,683 | €23,512 | -€171 | -0.7% |
| Stocks | 30/36 | €23,683 | €23,512 | -€171 | -0.7% |
| Amounts receivable within one year | 40/41 | €19,572 | €7,533 | -€12,039 | -61.5% |
| Trade receivables | 40 | €17,059 | €7,513 | -€9,545 | -56.0% |
| Other amounts receivable | 41 | €2,514 | €20 | -€2,494 | -99.2% |
| Cash at bank and in hand | 54/58 | €21,016 | €34,037 | +€13,022 | +62.0% |
| Total equity and liabilities | 10/49 | €490,709 | €482,795 | -€7,913 | -1.6% |
| Equity | 10/15 | €165,033 | €185,868 | +€20,835 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,433 | €167,268 | +€20,835 | +14.2% |
| Distributable reserves | 133 | €146,433 | €167,268 | +€20,835 | +14.2% |
| Amounts payable | 17/49 | €325,675 | €296,927 | -€28,748 | -8.8% |
| Amounts payable after more than one year | 17 | €246,043 | €215,995 | -€30,048 | -12.2% |
| Financial debts | 170/4 | €246,043 | €215,995 | -€30,048 | -12.2% |
| Amounts payable within one year | 42/48 | €77,337 | €78,937 | +€1,600 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €29,568 | €30,048 | +€480 | +1.6% |
| Trade debts | 44 | €2,326 | €1,605 | -€721 | -31.0% |
| Suppliers | 440/4 | €2,326 | €1,605 | -€721 | -31.0% |
| Taxes, remuneration and social security | 45 | €6,684 | €9,457 | +€2,773 | +41.5% |
| Taxes | 450/3 | €6,684 | €9,457 | +€2,773 | +41.5% |
| Other amounts payable | 47/48 | €38,759 | €37,827 | -€932 | -2.4% |
| Accrued charges and deferred income | 492/3 | €2,295 | €1,995 | -€300 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,724 | €8,724 | = | 0.0% |
| Other operating charges | 640/8 | €2,374 | €2,616 | +€242 | +10.2% |
| Gross operating margin | 9900 | €55,405 | €48,952 | -€6,453 | -11.6% |
| Operating profit (loss) | 9901 | €44,306 | €37,611 | -€6,695 | -15.1% |
| Financial income | 75/76B | €0 | €5 | +€5 | +49900.0% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +49900.0% |
| Financial charges | 65/66B | €6,968 | €6,536 | -€432 | -6.2% |
| Recurring financial charges | 65 | €6,968 | €6,536 | -€432 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €37,338 | €31,080 | -€6,258 | -16.8% |
| Income taxes | 67/77 | €12,247 | €10,245 | -€2,002 | -16.3% |
| Profit (loss) for the period | 9904 | €25,091 | €20,835 | -€4,256 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,091 | €20,835 | -€4,256 | -17.0% |
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 11 October 2026 via checked.be.