XlnZ: 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.
XlnZ
Largest movements
- Tangible fixed assets -€344,009
down €344,009 (-14.7%), from €2.3m to €2.0m
of which Land and buildings: -€257,667
- Receivables within one year -€71,947
down €71,947 (-100.0%), from €71,964 to €17
of which Other amounts receivable: -€55,222
- Debts after one year -€472,251
down €472,251 (-43.4%), from €1.1m to €615,252
- Other debts +€275,506
up €275,506 (+42.4%), from €649,119 to €924,624
- Profit (loss) carried forward -€86,497
new in 2025: -€86,497
- Advances received -€76,051
no longer reported in 2025 (was €76,051)
- Current portion of long-term debt -€36,482
down €36,482 (-32.8%), from €111,150 to €74,667
- Gross operating margin -€174,347
down €174,347 (-78.4%), from €222,329 to €47,982
- Depreciation -€22,496
down €22,496 (-31.8%), from €70,644 to €48,148
- Taxes -€15,157
no longer reported in 2025 (was €15,157)
- Financial charges +€6,117
up €6,117 (+19.3%), from €31,750 to €37,867
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 | €2,460,747 | €2,058,804 | -€401,943 | -16.3% |
| Fixed assets | 21/28 | €2,342,853 | €1,998,845 | -€344,009 | -14.7% |
| Tangible fixed assets | 22/27 | €2,340,783 | €1,996,775 | -€344,009 | -14.7% |
| Land and buildings | 22 | €1,935,262 | €1,677,595 | -€257,667 | -13.3% |
| Plant, machinery and equipment | 23 | €26,471 | €20,844 | -€5,628 | -21.3% |
| Furniture and vehicles | 24 | €214,809 | €215,619 | +€810 | +0.4% |
| Other tangible fixed assets | 26 | €164,241 | €82,718 | -€81,524 | -49.6% |
| Financial fixed assets | 28 | €2,070 | €2,070 | = | 0.0% |
| Current assets | 29/58 | €117,894 | €59,960 | -€57,934 | -49.1% |
| Amounts receivable within one year | 40/41 | €71,964 | €17 | -€71,947 | -100.0% |
| Trade receivables | 40 | €16,725 | - | -€16,725 | |
| Other amounts receivable | 41 | €55,239 | €17 | -€55,222 | -100.0% |
| Cash at bank and in hand | 54/58 | €45,930 | €59,943 | +€14,013 | +30.5% |
| Total equity and liabilities | 10/49 | €2,460,747 | €2,058,804 | -€401,943 | -16.3% |
| Equity | 10/15 | €498,065 | €411,568 | -€86,497 | -17.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €497,065 | €497,065 | = | 0.0% |
| Distributable reserves | 133 | €497,065 | €497,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€86,497 | -€86,497 | |
| Amounts payable | 17/49 | €1,962,683 | €1,647,237 | -€315,446 | -16.1% |
| Amounts payable after more than one year | 17 | €1,087,504 | €615,252 | -€472,251 | -43.4% |
| Financial debts | 170/4 | €1,087,504 | €615,252 | -€472,251 | -43.4% |
| Amounts payable within one year | 42/48 | €875,179 | €1,031,985 | +€156,806 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €111,150 | €74,667 | -€36,482 | -32.8% |
| Trade debts | 44 | €38,801 | €30,628 | -€8,173 | -21.1% |
| Suppliers | 440/4 | €38,801 | €30,628 | -€8,173 | -21.1% |
| Advances received on contracts in progress | 46 | €76,051 | - | -€76,051 | |
| Taxes, remuneration and social security | 45 | €59 | €2,064 | +€2,005 | +3,406% |
| Taxes | 450/3 | €59 | €2,064 | +€2,005 | +3,406% |
| Other amounts payable | 47/48 | €649,119 | €924,624 | +€275,506 | +42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,644 | €48,148 | -€22,496 | -31.8% |
| Other operating charges | 640/8 | €1,583 | €1,906 | +€323 | +20.4% |
| Non-recurring operating charges | 66A | €81,131 | €46,558 | -€34,573 | -42.6% |
| Gross operating margin | 9900 | €222,329 | €47,982 | -€174,347 | -78.4% |
| Operating profit (loss) | 9901 | €68,971 | -€48,630 | -€117,601 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €31,750 | €37,867 | +€6,117 | +19.3% |
| Recurring financial charges | 65 | €31,750 | €37,867 | +€6,117 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €37,221 | -€86,497 | -€123,718 | |
| Income taxes | 67/77 | €15,157 | - | -€15,157 | |
| Profit (loss) for the period | 9904 | €22,064 | -€86,497 | -€108,561 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,064 | -€86,497 | -€108,561 |
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 28 October 2026 via checked.be.