XM Projects: what changed
XM Projects
Largest movements
- Cash +€24,452
up €24,452 (+197%), from €12,427 to €36,879
mainly Net result for the year (+€15,678) and Depreciation (+€7,961)
- Tangible fixed assets +€9,868
up €9,868 (+36.8%), from €26,843 to €36,711
of which Plant, machinery and equipment: +€10,251
- Receivables within one year -€3,038
down €3,038 (-66.7%), from €4,558 to €1,520
of which Other amounts receivable: -€3,648
- Deferred charges and accrued income -€1,203
down €1,203 (-42.5%), from €2,827 to €1,624
- Profit (loss) carried forward +€15,678
up €15,678 (+325%), from €4,824 to €20,501
- Other debts +€4,995
up €4,995 (+22.2%), from €22,491 to €27,485
- Trade debts +€4,386
up €4,386 (+627%), from €700 to €5,085
- Accrued charges and deferred income +€3,113
new in 2025: €3,113
- Tax, wage and social debts +€1,909
new in 2025: €1,909
- Gross operating margin +€15,366
up €15,366 (+103%), from €14,953 to €30,319
- Depreciation +€5,597
up €5,597 (+237%), from €2,365 to €7,961
- Taxes +€3,148
up €3,148 (+166%), from €1,892 to €5,040
- Financial income -€2,276
down €2,276 (-90.9%), from €2,503 to €227
of which Non-recurring financial income: -€2,500
- Financial charges -€1,310
down €1,310 (-58.4%), from €2,242 to €932
of which Non-recurring financial charges: -€1,802
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €46,654 | €76,734 | +€30,080 | +64.5% |
| Fixed assets | 21/28 | €26,843 | €36,711 | +€9,868 | +36.8% |
| Tangible fixed assets | 22/27 | €26,843 | €36,711 | +€9,868 | +36.8% |
| Plant, machinery and equipment | 23 | €26,460 | €36,711 | +€10,251 | +38.7% |
| Furniture and vehicles | 24 | €383 | €0 | -€383 | -100% |
| Current assets | 29/58 | €19,812 | €40,023 | +€20,212 | +102% |
| Amounts receivable within one year | 40/41 | €4,558 | €1,520 | -€3,038 | -66.7% |
| Trade receivables | 40 | €450 | €1,060 | +€610 | +136% |
| Other amounts receivable | 41 | €4,108 | €460 | -€3,648 | -88.8% |
| Cash at bank and in hand | 54/58 | €12,427 | €36,879 | +€24,452 | +197% |
| Deferred charges and accrued income | 490/1 | €2,827 | €1,624 | -€1,203 | -42.5% |
| Total equity and liabilities | 10/49 | €46,654 | €76,734 | +€30,080 | +64.5% |
| Equity | 10/15 | €23,464 | €39,141 | +€15,678 | +66.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40 | €40 | = | 0.0% |
| Distributable reserves | 133 | €40 | €40 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,824 | €20,501 | +€15,678 | +325% |
| Amounts payable | 17/49 | €23,191 | €37,593 | +€14,402 | +62.1% |
| Amounts payable within one year | 42/48 | €23,191 | €34,480 | +€11,289 | +48.7% |
| Trade debts | 44 | €700 | €5,085 | +€4,386 | +627% |
| Suppliers | 440/4 | €700 | €5,085 | +€4,386 | +627% |
| Taxes, remuneration and social security | 45 | - | €1,909 | +€1,909 | |
| Remuneration and social security | 454/9 | - | €1,909 | +€1,909 | |
| Other amounts payable | 47/48 | €22,491 | €27,485 | +€4,995 | +22.2% |
| Accrued charges and deferred income | 492/3 | - | €3,113 | +€3,113 | |
| Remuneration, social security and pensions | 62 | - | €46 | +€46 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,365 | €7,961 | +€5,597 | +237% |
| Other operating charges | 640/8 | €256 | €890 | +€634 | +248% |
| Gross operating margin | 9900 | €14,953 | €30,319 | +€15,366 | +103% |
| Operating profit (loss) | 9901 | €12,333 | €21,422 | +€9,089 | +73.7% |
| Financial income | 75/76B | €2,503 | €227 | -€2,276 | -90.9% |
| Recurring financial income | 75 | €3 | €227 | +€224 | +7,838% |
| Non-recurring financial income | 76B | €2,500 | - | -€2,500 | |
| Financial charges | 65/66B | €2,242 | €932 | -€1,310 | -58.4% |
| Recurring financial charges | 65 | €440 | €932 | +€491 | +112% |
| Non-recurring financial charges | 66B | €1,802 | - | -€1,802 | |
| Profit (loss) for the period before taxes | 9903 | €12,593 | €20,718 | +€8,124 | +64.5% |
| Income taxes | 67/77 | €1,892 | €5,040 | +€3,148 | +166% |
| Profit (loss) for the period | 9904 | €10,701 | €15,678 | +€4,976 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,701 | €15,678 | +€4,976 | +46.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.