XMED: 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.
XMED
Largest movements
- Stocks and contracts -€9,299
down €9,299 (-12.4%), from €74,950 to €65,651
- Receivables within one year -€8,553
down €8,553 (-22.5%), from €38,007 to €29,454
of which Trade receivables: -€11,124
- Cash +€5,476
up €5,476 (+24.6%), from €22,263 to €27,738
mainly Other debts (+€51,590) and Stocks and contracts (+€9,299)
- Tangible fixed assets -€2,914
down €2,914 (-18.4%), from €15,816 to €12,902
of which Plant, machinery and equipment: -€1,467
- Deferred charges and accrued income -€1,913
down €1,913 (-74.9%), from €2,555 to €642
- Trade debts -€66,983
down €66,983 (-39.5%), from €169,465 to €102,482
- Other debts +€51,590
up €51,590 (+8.4%), from €610,629 to €662,219
- Profit (loss) carried forward -€7,870
down €7,870 (-0.7%), from -€1.1m to -€1.1m
- Advances received +€3,024
up €3,024, from €0 to €3,024
- Tax, wage and social debts +€2,417
up €2,417 (+45.4%), from €5,329 to €7,746
of which Remuneration and social security: +€3,284
- Staff costs -€81,169
down €81,169 (-64.7%), from €125,461 to €44,292
- Gross operating margin -€16,168
down €16,168 (-28.8%), from €56,184 to €40,016
- Taxes -€15,851
down €15,851, from €14,488 to -€1,363
- Financial income +€2,235
up €2,235 (+7676.5%), from €29 to €2,265
- Depreciation -€2,099
down €2,099 (-36.6%), from €5,738 to €3,640
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 | €154,317 | €136,494 | -€17,822 | -11.5% |
| Fixed assets | 21/28 | €16,541 | €13,009 | -€3,533 | -21.4% |
| Intangible fixed assets | 21 | €725 | €0 | -€725 | -100.0% |
| Tangible fixed assets | 22/27 | €15,816 | €12,902 | -€2,914 | -18.4% |
| Plant, machinery and equipment | 23 | €9,936 | €8,468 | -€1,467 | -14.8% |
| Furniture and vehicles | 24 | €5,881 | €4,433 | -€1,447 | -24.6% |
| Financial fixed assets | 28 | - | €107 | +€107 | |
| Current assets | 29/58 | €137,775 | €123,486 | -€14,289 | -10.4% |
| Stocks and contracts in progress | 3 | €74,950 | €65,651 | -€9,299 | -12.4% |
| Stocks | 30/36 | €74,950 | €65,651 | -€9,299 | -12.4% |
| Amounts receivable within one year | 40/41 | €38,007 | €29,454 | -€8,553 | -22.5% |
| Trade receivables | 40 | €38,007 | €26,884 | -€11,124 | -29.3% |
| Other amounts receivable | 41 | €0 | €2,571 | +€2,571 | |
| Cash at bank and in hand | 54/58 | €22,263 | €27,738 | +€5,476 | +24.6% |
| Deferred charges and accrued income | 490/1 | €2,555 | €642 | -€1,913 | -74.9% |
| Total equity and liabilities | 10/49 | €154,317 | €136,494 | -€17,822 | -11.5% |
| Equity | 10/15 | -€631,107 | -€638,978 | -€7,870 | -1.2% |
| Contributions | 10/11 | €455,000 | €455,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,086,107 | -€1,093,978 | -€7,870 | -0.7% |
| Amounts payable | 17/49 | €785,424 | €775,472 | -€9,952 | -1.3% |
| Amounts payable within one year | 42/48 | €785,424 | €775,472 | -€9,952 | -1.3% |
| Trade debts | 44 | €169,465 | €102,482 | -€66,983 | -39.5% |
| Suppliers | 440/4 | €169,465 | €102,482 | -€66,983 | -39.5% |
| Advances received on contracts in progress | 46 | €0 | €3,024 | +€3,024 | |
| Taxes, remuneration and social security | 45 | €5,329 | €7,746 | +€2,417 | +45.4% |
| Taxes | 450/3 | €867 | €0 | -€867 | -100.0% |
| Remuneration and social security | 454/9 | €4,462 | €7,746 | +€3,284 | +73.6% |
| Other amounts payable | 47/48 | €610,629 | €662,219 | +€51,590 | +8.4% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €125,461 | €44,292 | -€81,169 | -64.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,738 | €3,640 | -€2,099 | -36.6% |
| Other operating charges | 640/8 | €2,664 | €2,493 | -€171 | -6.4% |
| Non-recurring operating charges | 66A | €10,948 | €0 | -€10,948 | -100.0% |
| Gross operating margin | 9900 | €56,184 | €40,016 | -€16,168 | -28.8% |
| Operating profit (loss) | 9901 | -€88,627 | -€10,409 | +€78,218 | +88.3% |
| Financial income | 75/76B | €29 | €2,265 | +€2,235 | +7676.5% |
| Recurring financial income | 75 | €29 | €2,265 | +€2,235 | +7676.5% |
| Financial charges | 65/66B | €350 | €1,089 | +€738 | +210.7% |
| Recurring financial charges | 65 | €350 | €1,089 | +€738 | +210.7% |
| Profit (loss) for the period before taxes | 9903 | -€88,948 | -€9,233 | +€79,715 | +89.6% |
| Income taxes | 67/77 | €14,488 | -€1,363 | -€15,851 | |
| Profit (loss) for the period | 9904 | -€103,436 | -€7,870 | +€95,566 | +92.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€103,436 | -€7,870 | +€95,566 | +92.4% |
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.