XM - EXPRESS: 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.
XM - EXPRESS
Largest movements
- Tangible fixed assets -€33,332
down €33,332 (-4.1%), from €808,456 to €775,124
of which Land and buildings: -€29,547
- Receivables within one year -€14,615
down €14,615 (-16.8%), from €87,036 to €72,421
of which Trade receivables: -€55,724
- Debts after one year -€63,048
down €63,048 (-12.3%), from €512,881 to €449,833
- Trade debts +€10,427
up €10,427 (+710.6%), from €1,467 to €11,895
- Reserves -€9,745
down €9,745 (-9.8%), from €99,539 to €89,794
of which Tax-exempt reserves: -€6,245
- Other operating charges +€6,399
up €6,399 (+49.6%), from €12,899 to €19,298
- Taxes -€2,335
down €2,335 (-80.9%), from €2,886 to €551
- Financial income -€2,262
down €2,262 (-11.5%), from €19,757 to €17,494
- Gross operating margin -€1,519
down €1,519 (-3.6%), from €42,559 to €41,040
- Financial charges +€715
up €715 (+8.2%), from €8,695 to €9,410
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 | €916,235 | €862,487 | -€53,748 | -5.9% |
| Fixed assets | 21/28 | €808,456 | €775,124 | -€33,332 | -4.1% |
| Tangible fixed assets | 22/27 | €808,456 | €775,124 | -€33,332 | -4.1% |
| Land and buildings | 22 | €797,910 | €768,363 | -€29,547 | -3.7% |
| Plant, machinery and equipment | 23 | €6,572 | €4,246 | -€2,326 | -35.4% |
| Furniture and vehicles | 24 | €3,975 | €2,515 | -€1,460 | -36.7% |
| Current assets | 29/58 | €107,779 | €87,363 | -€20,416 | -18.9% |
| Amounts receivable within one year | 40/41 | €87,036 | €72,421 | -€14,615 | -16.8% |
| Trade receivables | 40 | €79,724 | €24,000 | -€55,724 | -69.9% |
| Other amounts receivable | 41 | €7,312 | €48,421 | +€41,109 | +562.2% |
| Cash at bank and in hand | 54/58 | €5,524 | €4,995 | -€530 | -9.6% |
| Deferred charges and accrued income | 490/1 | €15,219 | €9,947 | -€5,272 | -34.6% |
| Total equity and liabilities | 10/49 | €916,235 | €862,487 | -€53,748 | -5.9% |
| Equity | 10/15 | €113,939 | €104,290 | -€9,649 | -8.5% |
| Contributions | 10/11 | €14,254 | €14,254 | = | 0.0% |
| Reserves | 13 | €99,539 | €89,794 | -€9,745 | -9.8% |
| Tax-exempt reserves | 132 | €81,189 | €74,944 | -€6,245 | -7.7% |
| Distributable reserves | 133 | €18,350 | €14,850 | -€3,500 | -19.1% |
| Profit (loss) carried forward | 14 | €146 | €242 | +€97 | +66.3% |
| Provisions and deferred taxes | 16 | €27,063 | €24,981 | -€2,082 | -7.7% |
| Deferred taxes | 168 | €27,063 | €24,981 | -€2,082 | -7.7% |
| Amounts payable | 17/49 | €775,233 | €733,215 | -€42,018 | -5.4% |
| Amounts payable after more than one year | 17 | €512,881 | €449,833 | -€63,048 | -12.3% |
| Financial debts | 170/4 | €512,881 | €449,833 | -€63,048 | -12.3% |
| Amounts payable within one year | 42/48 | €259,224 | €280,115 | +€20,891 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €34,000 | €33,948 | -€52 | -0.2% |
| Trade debts | 44 | €1,467 | €11,895 | +€10,427 | +710.6% |
| Suppliers | 440/4 | €1,467 | €11,895 | +€10,427 | +710.6% |
| Advances received on contracts in progress | 46 | - | €3,320 | +€3,320 | |
| Taxes, remuneration and social security | 45 | €787 | €6,675 | +€5,889 | +748.5% |
| Taxes | 450/3 | €130 | €6,008 | +€5,878 | +4521.3% |
| Remuneration and social security | 454/9 | €657 | €668 | +€11 | +1.7% |
| Other amounts payable | 47/48 | €222,970 | €224,278 | +€1,307 | +0.6% |
| Accrued charges and deferred income | 492/3 | €3,128 | €3,266 | +€139 | +4.4% |
| Remuneration, social security and pensions | 62 | €5,289 | €5,406 | +€117 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,540 | €35,599 | +€59 | +0.2% |
| Other operating charges | 640/8 | €12,899 | €19,298 | +€6,399 | +49.6% |
| Gross operating margin | 9900 | €42,559 | €41,040 | -€1,519 | -3.6% |
| Operating profit (loss) | 9901 | -€11,170 | -€19,264 | -€8,094 | -72.5% |
| Financial income | 75/76B | €19,757 | €17,494 | -€2,262 | -11.5% |
| Recurring financial income | 75 | €19,757 | €17,494 | -€2,262 | -11.5% |
| Financial charges | 65/66B | €8,695 | €9,410 | +€715 | +8.2% |
| Recurring financial charges | 65 | €8,695 | €9,410 | +€715 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | -€108 | -€11,180 | -€11,071 | -10220.8% |
| Transfer from deferred taxes | 780 | €2,082 | €2,082 | = | 0.0% |
| Income taxes | 67/77 | €2,886 | €551 | -€2,335 | -80.9% |
| Profit (loss) for the period | 9904 | -€913 | -€9,649 | -€8,736 | -957.4% |
| Transfer from tax-exempt reserves | 789 | €6,245 | €6,245 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,333 | -€3,403 | -€8,736 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.