XL: what changed
Two fiscal 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.
XL
Largest movements
- Receivables after one year -€13,000
down €13,000 (-54.2%), from €24,000 to €11,000
- Receivables within one year +€2,142
up €2,142 (+2185.4%), from €98 to €2,240
of which Other amounts receivable: +€1,811
- Cash -€1,288
down €1,288 (-31.8%), from €4,044 to €2,757
mainly Net result for the year (-€16,083) and Receivables within one year (-€2,142)
- Tangible fixed assets -€1,058
down €1,058 (-38.8%), from €2,730 to €1,672
- Stocks and contracts -€490
down €490 (-3.3%), from €14,990 to €14,500
- Reserves -€16,083
down €16,083 (-50.9%), from €31,599 to €15,516
of which Distributable reserves: -€16,083
- Trade debts +€2,323
up €2,323 (+120.7%), from €1,924 to €4,247
- Accrued charges and deferred income +€953
up €953 (+100.0%), from €953 to €1,907
- Other debts -€566
down €566 (-100.0%), from €566 to €0
- Gross operating margin -€5,909
down €5,909 (-71.6%), from -€8,258 to -€14,167
- Financial charges -€453
down €453 (-63.5%), from €715 to €261
- Financial income -€391
down €391 (-33.5%), from €1,166 to €775
- Depreciation +€305
up €305 (+40.5%), from €753 to €1,058
- Other operating charges -€197
down €197 (-14.2%), from €1,393 to €1,196
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 | €48,305 | €34,611 | -€13,694 | -28.3% |
| Fixed assets | 21/28 | €5,173 | €4,115 | -€1,058 | -20.5% |
| Tangible fixed assets | 22/27 | €2,730 | €1,672 | -€1,058 | -38.8% |
| Furniture and vehicles | 24 | €2,730 | €1,672 | -€1,058 | -38.8% |
| Financial fixed assets | 28 | €2,443 | €2,443 | = | 0.0% |
| Current assets | 29/58 | €43,132 | €30,496 | -€12,636 | -29.3% |
| Amounts receivable after more than one year | 29 | €24,000 | €11,000 | -€13,000 | -54.2% |
| Other amounts receivable | 291 | €24,000 | €11,000 | -€13,000 | -54.2% |
| Stocks and contracts in progress | 3 | €14,990 | €14,500 | -€490 | -3.3% |
| Stocks | 30/36 | €14,990 | €14,500 | -€490 | -3.3% |
| Amounts receivable within one year | 40/41 | €98 | €2,240 | +€2,142 | +2185.4% |
| Trade receivables | 40 | €98 | €429 | +€331 | +337.3% |
| Other amounts receivable | 41 | €0 | €1,811 | +€1,811 | |
| Cash at bank and in hand | 54/58 | €4,044 | €2,757 | -€1,288 | -31.8% |
| Total equity and liabilities | 10/49 | €48,305 | €34,611 | -€13,694 | -28.3% |
| Equity | 10/15 | €43,999 | €27,916 | -€16,083 | -36.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,599 | €15,516 | -€16,083 | -50.9% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €29,699 | €13,616 | -€16,083 | -54.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €4,306 | €6,695 | +€2,390 | +55.5% |
| Amounts payable within one year | 42/48 | €3,352 | €4,788 | +€1,436 | +42.8% |
| Trade debts | 44 | €1,924 | €4,247 | +€2,323 | +120.7% |
| Suppliers | 440/4 | €1,924 | €4,247 | +€2,323 | +120.7% |
| Advances received on contracts in progress | 46 | €350 | €0 | -€350 | -100.0% |
| Taxes, remuneration and social security | 45 | €512 | €542 | +€30 | +5.8% |
| Taxes | 450/3 | €512 | €542 | +€30 | +5.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €566 | €0 | -€566 | -100.0% |
| Accrued charges and deferred income | 492/3 | €953 | €1,907 | +€953 | +100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €753 | €1,058 | +€305 | +40.5% |
| Other operating charges | 640/8 | €1,393 | €1,196 | -€197 | -14.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€8,258 | -€14,167 | -€5,909 | -71.6% |
| Operating profit (loss) | 9901 | -€10,404 | -€16,420 | -€6,017 | -57.8% |
| Financial income | 75/76B | €1,166 | €775 | -€391 | -33.5% |
| Recurring financial income | 75 | €1,166 | €775 | -€391 | -33.5% |
| Financial charges | 65/66B | €715 | €261 | -€453 | -63.5% |
| Recurring financial charges | 65 | €715 | €261 | -€453 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,952 | -€15,906 | -€5,954 | -59.8% |
| Income taxes | 67/77 | €168 | €177 | +€9 | +5.4% |
| Profit (loss) for the period | 9904 | -€10,120 | -€16,083 | -€5,963 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,120 | -€16,083 | -€5,963 | -58.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.