XLN-T: 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.
XLN-T
Largest movements
- Cash -€161,117
down €161,117 (-23.4%), from €688,631 to €527,513
mainly Contributions, distributions and other (-€227,190) and Current investments (-€17,910)
- Current investments +€17,910
up €17,910 (+2.3%), from €770,241 to €788,151
- Contributions -€227,190
down €227,190 (-92.4%), from €245,940 to €18,750
- Reserves +€71,359
up €71,359 (+5.8%), from €1.2m to €1.3m
- Gross operating margin +€2,849
up €2,849 (+3.6%), from €78,864 to €81,713
- Taxes +€854
up €854 (+2.6%), from €32,447 to €33,301
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 | €1,487,244 | €1,342,942 | -€144,302 | -9.7% |
| Current assets | 29/58 | €1,487,244 | €1,342,942 | -€144,302 | -9.7% |
| Stocks and contracts in progress | 3 | €1,998 | - | -€1,998 | |
| Stocks | 30/36 | €1,998 | - | -€1,998 | |
| Amounts receivable within one year | 40/41 | €1,392 | - | -€1,392 | |
| Trade receivables | 40 | €1,392 | - | -€1,392 | |
| Current investments | 50/53 | €770,241 | €788,151 | +€17,910 | +2.3% |
| Cash at bank and in hand | 54/58 | €688,631 | €527,513 | -€161,117 | -23.4% |
| Deferred charges and accrued income | 490/1 | €24,982 | €27,278 | +€2,296 | +9.2% |
| Total equity and liabilities | 10/49 | €1,487,244 | €1,342,942 | -€144,302 | -9.7% |
| Equity | 10/15 | €1,467,580 | €1,311,749 | -€155,831 | -10.6% |
| Contributions | 10/11 | €245,940 | €18,750 | -€227,190 | -92.4% |
| Reserves | 13 | €1,221,640 | €1,292,999 | +€71,359 | +5.8% |
| Distributable reserves | 133 | €1,221,640 | €1,292,999 | +€71,359 | +5.8% |
| Amounts payable | 17/49 | €19,664 | €31,193 | +€11,530 | +58.6% |
| Amounts payable within one year | 42/48 | €19,664 | €31,193 | +€11,530 | +58.6% |
| Taxes, remuneration and social security | 45 | €5,412 | €7,582 | +€2,170 | +40.1% |
| Taxes | 450/3 | €5,412 | €7,582 | +€2,170 | +40.1% |
| Other amounts payable | 47/48 | €14,251 | €23,611 | +€9,360 | +65.7% |
| Non-recurring operating income | 76A | €93,209 | €98,581 | +€5,372 | +5.8% |
| Other operating charges | 640/8 | €1,149 | €1,184 | +€35 | +3.0% |
| Gross operating margin | 9900 | €78,864 | €81,713 | +€2,849 | +3.6% |
| Operating profit (loss) | 9901 | €77,715 | €80,529 | +€2,814 | +3.6% |
| Financial income | 75/76B | €24,426 | €24,266 | -€160 | -0.7% |
| Recurring financial income | 75 | €24,426 | €24,266 | -€160 | -0.7% |
| Financial charges | 65/66B | €166 | €135 | -€31 | -18.5% |
| Recurring financial charges | 65 | €166 | €135 | -€31 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €101,975 | €104,660 | +€2,685 | +2.6% |
| Income taxes | 67/77 | €32,447 | €33,301 | +€854 | +2.6% |
| Profit (loss) for the period | 9904 | €69,528 | €71,359 | +€1,830 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,528 | €71,359 | +€1,830 | +2.6% |
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 27 October 2026 via checked.be.