XO: 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.
XO
Largest movements
- Cash +€227,190
up €227,190 (+98.7%), from €230,215 to €457,406
mainly Net result for the year (+€259,297) and Receivables after one year (+€50,000)
- Receivables after one year -€50,000
down €50,000 (-16.1%), from €310,000 to €260,000
- Receivables within one year +€37,784
up €37,784 (+35.7%), from €105,885 to €143,670
of which Other amounts receivable: +€65,439
- Reserves +€203,873
up €203,873 (+25.6%), from €795,931 to €999,803
- Tax, wage and social debts -€44,767
down €44,767 (-54.8%), from €81,668 to €36,901
of which Taxes: -€39,708
- Short-term financial debts +€24,095
up €24,095 (+590.8%), from €4,079 to €28,174
- Financial income -€81,922
down €81,922 (-34.8%), from €235,633 to €153,711
- Taxes -€7,769
down €7,769 (-9.1%), from €84,943 to €77,173
- Depreciation -€4,300
down €4,300 (-29.8%), from €14,423 to €10,123
- Gross operating margin -€2,979
down €2,979 (-1.5%), from €199,812 to €196,833
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 | €1,541,902 | €1,747,497 | +€205,595 | +13.3% |
| Fixed assets | 21/28 | €888,525 | €878,475 | -€10,050 | -1.1% |
| Tangible fixed assets | 22/27 | €31,940 | €21,890 | -€10,050 | -31.5% |
| Furniture and vehicles | 24 | €17,384 | €9,600 | -€7,784 | -44.8% |
| Other tangible fixed assets | 26 | €14,557 | €12,290 | -€2,266 | -15.6% |
| Financial fixed assets | 28 | €856,585 | €856,585 | = | 0.0% |
| Current assets | 29/58 | €653,377 | €869,022 | +€215,645 | +33.0% |
| Amounts receivable after more than one year | 29 | €310,000 | €260,000 | -€50,000 | -16.1% |
| Other amounts receivable | 291 | €310,000 | €260,000 | -€50,000 | -16.1% |
| Amounts receivable within one year | 40/41 | €105,885 | €143,670 | +€37,784 | +35.7% |
| Trade receivables | 40 | €56,505 | €28,851 | -€27,654 | -48.9% |
| Other amounts receivable | 41 | €49,380 | €114,818 | +€65,439 | +132.5% |
| Cash at bank and in hand | 54/58 | €230,215 | €457,406 | +€227,190 | +98.7% |
| Deferred charges and accrued income | 490/1 | €7,276 | €7,946 | +€671 | +9.2% |
| Total equity and liabilities | 10/49 | €1,541,902 | €1,747,497 | +€205,595 | +13.3% |
| Equity | 10/15 | €1,397,285 | €1,601,158 | +€203,873 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €795,931 | €999,803 | +€203,873 | +25.6% |
| Distributable reserves | 133 | €795,931 | €999,803 | +€203,873 | +25.6% |
| Profit (loss) carried forward | 14 | €582,754 | €582,754 | = | 0.0% |
| Amounts payable | 17/49 | €144,617 | €146,340 | +€1,723 | +1.2% |
| Amounts payable within one year | 42/48 | €132,617 | €122,340 | -€10,278 | -7.7% |
| Financial debts | 43 | €4,079 | €28,174 | +€24,095 | +590.8% |
| Credit institutions | 430/8 | €4,079 | €28,174 | +€24,095 | +590.8% |
| Trade debts | 44 | €7,046 | €1,734 | -€5,312 | -75.4% |
| Suppliers | 440/4 | €7,046 | €1,734 | -€5,312 | -75.4% |
| Taxes, remuneration and social security | 45 | €81,668 | €36,901 | -€44,767 | -54.8% |
| Taxes | 450/3 | €75,062 | €35,354 | -€39,708 | -52.9% |
| Remuneration and social security | 454/9 | €6,606 | €1,547 | -€5,059 | -76.6% |
| Other amounts payable | 47/48 | €39,824 | €55,530 | +€15,706 | +39.4% |
| Accrued charges and deferred income | 492/3 | €12,000 | €24,000 | +€12,000 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,423 | €10,123 | -€4,300 | -29.8% |
| Other operating charges | 640/8 | €596 | €1,594 | +€998 | +167.6% |
| Gross operating margin | 9900 | €199,812 | €196,833 | -€2,979 | -1.5% |
| Operating profit (loss) | 9901 | €184,793 | €185,116 | +€323 | +0.2% |
| Financial income | 75/76B | €235,633 | €153,711 | -€81,922 | -34.8% |
| Recurring financial income | 75 | €235,633 | €153,711 | -€81,922 | -34.8% |
| Financial charges | 65/66B | €2,173 | €2,357 | +€184 | +8.5% |
| Recurring financial charges | 65 | €2,173 | €2,357 | +€184 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €418,253 | €336,470 | -€81,783 | -19.6% |
| Income taxes | 67/77 | €84,943 | €77,173 | -€7,769 | -9.1% |
| Profit (loss) for the period | 9904 | €333,311 | €259,297 | -€74,014 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €333,311 | €259,297 | -€74,014 | -22.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.