XL PROJECTS: 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 PROJECTS
Largest movements
- Cash +€284,968
up €284,968 (+542.0%), from €52,575 to €337,543
mainly Net result for the year (+€259,195) and Other debts (+€172,372)
- Tangible fixed assets -€18,634
down €18,634 (-25.1%), from €74,128 to €55,494
of which Furniture and vehicles: -€18,384
- Other debts +€172,372
up €172,372 (+201.1%), from €85,714 to €258,087
- Tax, wage and social debts +€68,836
up €68,836 (+328.8%), from €20,936 to €89,771
- Trade debts +€31,698
up €31,698 (+69.2%), from €45,793 to €77,491
- Debts after one year -€12,056
down €12,056 (-30.0%), from €40,215 to €28,159
- Profit (loss) carried forward +€6,195
up €6,195 (+38.4%), from €16,117 to €22,312
- Gross operating margin +€271,142
up €271,142 (+256.5%), from €105,704 to €376,846
- Taxes +€73,786
up €73,786 (+461.6%), from €15,986 to €89,771
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 | €229,194 | €496,411 | +€267,217 | +116.6% |
| Fixed assets | 21/28 | €77,628 | €58,994 | -€18,634 | -24.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €74,128 | €55,494 | -€18,634 | -25.1% |
| Plant, machinery and equipment | 23 | €568 | €318 | -€250 | -44.0% |
| Furniture and vehicles | 24 | €73,560 | €55,175 | -€18,384 | -25.0% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €151,566 | €437,418 | +€285,851 | +188.6% |
| Amounts receivable within one year | 40/41 | €98,780 | €99,875 | +€1,095 | +1.1% |
| Trade receivables | 40 | €74,168 | €97,207 | +€23,038 | +31.1% |
| Other amounts receivable | 41 | €24,612 | €2,668 | -€21,944 | -89.2% |
| Cash at bank and in hand | 54/58 | €52,575 | €337,543 | +€284,968 | +542.0% |
| Deferred charges and accrued income | 490/1 | €211 | - | -€211 | |
| Total equity and liabilities | 10/49 | €229,194 | €496,411 | +€267,217 | +116.6% |
| Equity | 10/15 | €24,192 | €30,387 | +€6,195 | +25.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,117 | €22,312 | +€6,195 | +38.4% |
| Amounts payable | 17/49 | €205,002 | €466,024 | +€261,022 | +127.3% |
| Amounts payable after more than one year | 17 | €40,215 | €28,159 | -€12,056 | -30.0% |
| Financial debts | 170/4 | €40,215 | €28,159 | -€12,056 | -30.0% |
| Amounts payable within one year | 42/48 | €164,788 | €437,866 | +€273,078 | +165.7% |
| Current portion of amounts payable after more than one year | 42 | €11,863 | €12,517 | +€655 | +5.5% |
| Financial debts | 43 | €482 | - | -€482 | |
| Credit institutions | 430/8 | €482 | - | -€482 | |
| Trade debts | 44 | €45,793 | €77,491 | +€31,698 | +69.2% |
| Suppliers | 440/4 | €45,793 | €77,491 | +€31,698 | +69.2% |
| Taxes, remuneration and social security | 45 | €20,936 | €89,771 | +€68,836 | +328.8% |
| Taxes | 450/3 | €20,936 | €89,771 | +€68,836 | +328.8% |
| Other amounts payable | 47/48 | €85,714 | €258,087 | +€172,372 | +201.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,640 | €18,634 | +€995 | +5.6% |
| Other operating charges | 640/8 | €2,851 | €1,315 | -€1,536 | -53.9% |
| Gross operating margin | 9900 | €105,704 | €376,846 | +€271,142 | +256.5% |
| Operating profit (loss) | 9901 | €85,214 | €356,896 | +€271,683 | +318.8% |
| Financial income | 75/76B | €356 | €5 | -€351 | -98.6% |
| Recurring financial income | 75 | €356 | €5 | -€351 | -98.6% |
| Financial charges | 65/66B | €4,622 | €7,935 | +€3,314 | +71.7% |
| Recurring financial charges | 65 | €4,622 | €7,935 | +€3,314 | +71.7% |
| Profit (loss) for the period before taxes | 9903 | €80,948 | €348,966 | +€268,018 | +331.1% |
| Income taxes | 67/77 | €15,986 | €89,771 | +€73,786 | +461.6% |
| Profit (loss) for the period | 9904 | €64,963 | €259,195 | +€194,232 | +299.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,963 | €259,195 | +€194,232 | +299.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.