XM Bikes: 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.
XM Bikes
Largest movements
- Tangible fixed assets +€498,375
up €498,375 (+1,177%), from €42,360 to €540,735
of which Land and buildings: +€489,160
- Stocks and contracts +€46,858
up €46,858 (+16.9%), from €277,845 to €324,702
- Receivables within one year -€12,408
down €12,408 (-34.0%), from €36,486 to €24,078
of which Trade receivables: -€26,495
- Debts after one year +€372,400
up €372,400 (+4,100%), from €9,082 to €381,482
- Short-term financial debts +€65,000
up €65,000 (+186%), from €35,000 to €100,000
- Reserves +€38,678
up €38,678 (+117%), from €33,133 to €71,812
- Trade debts +€25,833
up €25,833 (+220%), from €11,732 to €37,565
- Current portion of long-term debt +€21,641
up €21,641 (+363%), from €5,959 to €27,600
- Gross operating margin +€42,633
up €42,633 (+96.2%), from €44,312 to €86,945
- Depreciation +€9,489
up €9,489 (+63.6%), from €14,913 to €24,402
- Taxes +€7,188
up €7,188 (+105%), from €6,844 to €14,032
- Financial charges +€3,798
up €3,798 (+104%), from €3,658 to €7,456
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 | €376,454 | €916,846 | +€540,392 | +144% |
| Formation expenses | 20 | €1,520 | €3,850 | +€2,330 | +153% |
| Fixed assets | 21/28 | €44,519 | €544,321 | +€499,803 | +1,123% |
| Intangible fixed assets | 21 | €2,159 | €3,527 | +€1,368 | +63.4% |
| Tangible fixed assets | 22/27 | €42,360 | €540,735 | +€498,375 | +1,177% |
| Land and buildings | 22 | - | €489,160 | +€489,160 | |
| Plant, machinery and equipment | 23 | €7,369 | €14,099 | +€6,730 | +91.3% |
| Furniture and vehicles | 24 | €798 | €15,052 | +€14,254 | +1,785% |
| Leasing and similar rights | 25 | €16,440 | €8,220 | -€8,220 | -50.0% |
| Other tangible fixed assets | 26 | €17,752 | €14,203 | -€3,549 | -20.0% |
| Financial fixed assets | 28 | - | €60 | +€60 | |
| Current assets | 29/58 | €330,415 | €368,675 | +€38,259 | +11.6% |
| Stocks and contracts in progress | 3 | €277,845 | €324,702 | +€46,858 | +16.9% |
| Stocks | 30/36 | €277,845 | €324,702 | +€46,858 | +16.9% |
| Amounts receivable within one year | 40/41 | €36,486 | €24,078 | -€12,408 | -34.0% |
| Trade receivables | 40 | €36,486 | €9,991 | -€26,495 | -72.6% |
| Other amounts receivable | 41 | - | €14,087 | +€14,087 | |
| Cash at bank and in hand | 54/58 | €13,497 | €18,927 | +€5,431 | +40.2% |
| Deferred charges and accrued income | 490/1 | €2,588 | €967 | -€1,621 | -62.6% |
| Total equity and liabilities | 10/49 | €376,454 | €916,846 | +€540,392 | +144% |
| Equity | 10/15 | €38,133 | €76,812 | +€38,678 | +101% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,133 | €71,812 | +€38,678 | +117% |
| Distributable reserves | 133 | €33,133 | €71,812 | +€38,678 | +117% |
| Amounts payable | 17/49 | €338,320 | €840,034 | +€501,714 | +148% |
| Amounts payable after more than one year | 17 | €9,082 | €381,482 | +€372,400 | +4,100% |
| Financial debts | 170/4 | €9,082 | €381,482 | +€372,400 | +4,100% |
| Amounts payable within one year | 42/48 | €329,238 | €458,552 | +€129,314 | +39.3% |
| Current portion of amounts payable after more than one year | 42 | €5,959 | €27,600 | +€21,641 | +363% |
| Financial debts | 43 | €35,000 | €100,000 | +€65,000 | +186% |
| Credit institutions | 430/8 | €35,000 | €100,000 | +€65,000 | +186% |
| Trade debts | 44 | €11,732 | €37,565 | +€25,833 | +220% |
| Suppliers | 440/4 | €11,732 | €37,565 | +€25,833 | +220% |
| Advances received on contracts in progress | 46 | - | €1,800 | +€1,800 | |
| Taxes, remuneration and social security | 45 | €13,726 | €23,291 | +€9,565 | +69.7% |
| Taxes | 450/3 | €13,726 | €23,291 | +€9,565 | +69.7% |
| Other amounts payable | 47/48 | €262,820 | €268,296 | +€5,475 | +2.1% |
| Non-recurring operating income | 76A | - | €1,248 | +€1,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,913 | €24,402 | +€9,489 | +63.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €581 | +€581 | |
| Other operating charges | 640/8 | €1,704 | €1,797 | +€93 | +5.4% |
| Gross operating margin | 9900 | €44,312 | €86,945 | +€42,633 | +96.2% |
| Operating profit (loss) | 9901 | €27,695 | €60,165 | +€32,470 | +117% |
| Financial income | 75/76B | €2 | €1 | -€0 | -6.7% |
| Recurring financial income | 75 | €2 | €1 | -€0 | -6.7% |
| Financial charges | 65/66B | €3,658 | €7,456 | +€3,798 | +104% |
| Recurring financial charges | 65 | €3,658 | €7,456 | +€3,798 | +104% |
| Profit (loss) for the period before taxes | 9903 | €24,038 | €52,710 | +€28,672 | +119% |
| Income taxes | 67/77 | €6,844 | €14,032 | +€7,188 | +105% |
| Profit (loss) for the period | 9904 | €17,194 | €38,678 | +€21,484 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €17,194 | €38,678 | +€21,484 | +125% |
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 19 October 2026 via checked.be.