XLINK: 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.
XLINK
Largest movements
- Receivables within one year -€75,968
down €75,968 (-66.7%), from €113,850 to €37,882
of which Trade receivables: -€76,512
- Tangible fixed assets +€68,679
up €68,679 (+13.0%), from €526,767 to €595,446
of which Furniture and vehicles: +€97,763
- Tax, wage and social debts -€42,284
down €42,284 (-65.9%), from €64,211 to €21,927
- Reserves +€36,257
up €36,257 (+64.7%), from €55,999 to €92,256
of which Distributable reserves: +€36,257
- Trade debts -€32,731
down €32,731 (-93.1%), from €35,150 to €2,419
- Current portion of long-term debt +€21,605
up €21,605 (+46.3%), from €46,624 to €68,228
- Debts after one year +€9,311
up €9,311 (+3.0%), from €307,222 to €316,533
- Gross operating margin +€53,576
up €53,576 (+68.4%), from €78,320 to €131,896
- Other operating charges +€14,070
up €14,070 (+7,035%), from €200 to €14,270
- Taxes +€10,255
up €10,255 (+158%), from €6,491 to €16,745
- Depreciation +€7,199
up €7,199 (+19.1%), from €37,757 to €44,956
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 | €663,663 | €659,807 | -€3,856 | -0.6% |
| Fixed assets | 21/28 | €526,867 | €595,546 | +€68,679 | +13.0% |
| Tangible fixed assets | 22/27 | €526,767 | €595,446 | +€68,679 | +13.0% |
| Land and buildings | 22 | €509,905 | €482,439 | -€27,467 | -5.4% |
| Plant, machinery and equipment | 23 | €2,475 | €858 | -€1,617 | -65.3% |
| Furniture and vehicles | 24 | €14,387 | €112,149 | +€97,763 | +680% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €136,796 | €64,261 | -€72,535 | -53.0% |
| Amounts receivable within one year | 40/41 | €113,850 | €37,882 | -€75,968 | -66.7% |
| Trade receivables | 40 | €84,109 | €7,598 | -€76,512 | -91.0% |
| Other amounts receivable | 41 | €29,740 | €30,284 | +€544 | +1.8% |
| Cash at bank and in hand | 54/58 | €22,568 | €22,728 | +€160 | +0.7% |
| Deferred charges and accrued income | 490/1 | €378 | €3,651 | +€3,272 | +865% |
| Total equity and liabilities | 10/49 | €663,663 | €659,807 | -€3,856 | -0.6% |
| Equity | 10/15 | €111,837 | €148,094 | +€36,257 | +32.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,999 | €92,256 | +€36,257 | +64.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,139 | €4,139 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €86,257 | +€36,257 | +72.5% |
| Profit (loss) carried forward | 14 | €49,638 | €49,638 | = | 0.0% |
| Provisions and deferred taxes | 16 | €98,619 | €98,619 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €98,619 | €98,619 | = | 0.0% |
| Other liabilities and charges | 164/5 | €98,619 | €98,619 | = | 0.0% |
| Amounts payable | 17/49 | €453,207 | €413,094 | -€40,114 | -8.9% |
| Amounts payable after more than one year | 17 | €307,222 | €316,533 | +€9,311 | +3.0% |
| Financial debts | 170/4 | €307,222 | €316,533 | +€9,311 | +3.0% |
| Amounts payable within one year | 42/48 | €145,985 | €92,574 | -€53,411 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €46,624 | €68,228 | +€21,605 | +46.3% |
| Trade debts | 44 | €35,150 | €2,419 | -€32,731 | -93.1% |
| Suppliers | 440/4 | €35,150 | €2,419 | -€32,731 | -93.1% |
| Taxes, remuneration and social security | 45 | €64,211 | €21,927 | -€42,284 | -65.9% |
| Taxes | 450/3 | €64,211 | €21,927 | -€42,284 | -65.9% |
| Accrued charges and deferred income | 492/3 | - | €3,987 | +€3,987 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,757 | €44,956 | +€7,199 | +19.1% |
| Other operating charges | 640/8 | €200 | €14,270 | +€14,070 | +7,035% |
| Gross operating margin | 9900 | €78,320 | €131,896 | +€53,576 | +68.4% |
| Operating profit (loss) | 9901 | €40,363 | €72,670 | +€32,307 | +80.0% |
| Financial income | 75/76B | €2,426 | €1,763 | -€663 | -27.3% |
| Recurring financial income | 75 | €2,426 | €1,763 | -€663 | -27.3% |
| Financial charges | 65/66B | €21,992 | €21,430 | -€562 | -2.6% |
| Recurring financial charges | 65 | €21,992 | €21,430 | -€562 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €20,797 | €53,002 | +€32,206 | +155% |
| Income taxes | 67/77 | €6,491 | €16,745 | +€10,255 | +158% |
| Profit (loss) for the period | 9904 | €14,306 | €36,257 | +€21,951 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €14,306 | €36,257 | +€21,951 | +153% |
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 29 October 2026 via checked.be.