XOTO: 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.
XOTO
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+62.3%), from €2.4m to €3.9m
of which Land and buildings: +€1.5m
- Stocks and contracts +€409,418
up €409,418 (+14.4%), from €2.8m to €3.3m
- Cash +€337,409
up €337,409 (+574.4%), from €58,736 to €396,145
mainly Debts after one year (+€1.2m) and Net result for the year (+€931,186)
- Receivables within one year +€266,646
up €266,646 (+25.1%), from €1.1m to €1.3m
of which Trade receivables: +€348,303
- Debts after one year +€1.2m
up €1.2m (+67.8%), from €1.8m to €3.0m
- Reserves +€931,186
up €931,186 (+53.0%), from €1.8m to €2.7m
of which Distributable reserves: +€671,771
- Other debts -€387,808
no longer reported in 2025 (was €387,808)
- Advances received +€246,184
up €246,184 (+325.9%), from €75,545 to €321,729
- Accrued charges and deferred income +€234,456
up €234,456 (+2425.9%), from €9,665 to €244,121
- Gross operating margin +€622,264
up €622,264 (+105.1%), from €592,220 to €1.2m
- Financial income +€361,897
up €361,897 (+213143.7%), from €170 to €362,066
of which Non-recurring financial income: +€358,973
- Financial charges +€104,462
up €104,462 (+90.5%), from €115,385 to €219,847
of which Non-recurring financial charges: +€108,000
- Depreciation +€39,144
up €39,144 (+76.0%), from €51,484 to €90,627
- Other operating charges +€34,400
up €34,400 (+191.6%), from €17,953 to €52,353
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 | €6,378,217 | €8,890,638 | +€2.5m | +39.4% |
| Fixed assets | 21/28 | €2,406,733 | €3,903,913 | +€1.5m | +62.2% |
| Tangible fixed assets | 22/27 | €2,395,833 | €3,888,013 | +€1.5m | +62.3% |
| Land and buildings | 22 | €2,320,069 | €3,862,674 | +€1.5m | +66.5% |
| Plant, machinery and equipment | 23 | €13,362 | €14,765 | +€1,403 | +10.5% |
| Furniture and vehicles | 24 | €1,808 | €2,774 | +€965 | +53.4% |
| Other tangible fixed assets | 26 | €10,114 | €7,801 | -€2,313 | -22.9% |
| Assets under construction and advance payments | 27 | €50,480 | - | -€50,480 | |
| Financial fixed assets | 28 | €10,900 | €15,900 | +€5,000 | +45.9% |
| Current assets | 29/58 | €3,971,484 | €4,986,726 | +€1.0m | +25.6% |
| Stocks and contracts in progress | 3 | €2,842,314 | €3,251,732 | +€409,418 | +14.4% |
| Stocks | 30/36 | €2,842,314 | €3,251,732 | +€409,418 | +14.4% |
| Amounts receivable within one year | 40/41 | €1,062,180 | €1,328,826 | +€266,646 | +25.1% |
| Trade receivables | 40 | €668,734 | €1,017,037 | +€348,303 | +52.1% |
| Other amounts receivable | 41 | €393,446 | €311,790 | -€81,657 | -20.8% |
| Cash at bank and in hand | 54/58 | €58,736 | €396,145 | +€337,409 | +574.4% |
| Deferred charges and accrued income | 490/1 | €8,253 | €10,022 | +€1,769 | +21.4% |
| Total equity and liabilities | 10/49 | €6,378,217 | €8,890,638 | +€2.5m | +39.4% |
| Equity | 10/15 | €1,951,589 | €2,882,775 | +€931,186 | +47.7% |
| Contributions | 10/11 | €196,000 | €196,000 | = | 0.0% |
| Reserves | 13 | €1,755,589 | €2,686,775 | +€931,186 | +53.0% |
| Non-distributable reserves | 130/1 | €34,600 | €34,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34,600 | €34,600 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €259,416 | +€259,416 | |
| Distributable reserves | 133 | €1,720,989 | €2,392,759 | +€671,771 | +39.0% |
| Provisions and deferred taxes | 16 | - | €86,472 | +€86,472 | |
| Provisions for liabilities and charges | 160/5 | - | €86,472 | +€86,472 | |
| Taxes | 161 | - | €86,472 | +€86,472 | |
| Amounts payable | 17/49 | €4,426,628 | €5,921,392 | +€1.5m | +33.8% |
| Amounts payable after more than one year | 17 | €1,789,122 | €3,001,834 | +€1.2m | +67.8% |
| Financial debts | 170/4 | €1,789,122 | €3,001,834 | +€1.2m | +67.8% |
| Amounts payable within one year | 42/48 | €2,627,840 | €2,675,437 | +€47,597 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €185,064 | €282,159 | +€97,094 | +52.5% |
| Financial debts | 43 | €1,165,787 | €1,300,000 | +€134,213 | +11.5% |
| Credit institutions | 430/8 | €1,165,787 | €1,300,000 | +€134,213 | +11.5% |
| Trade debts | 44 | €794,246 | €595,523 | -€198,723 | -25.0% |
| Suppliers | 440/4 | €794,246 | €595,523 | -€198,723 | -25.0% |
| Advances received on contracts in progress | 46 | €75,545 | €321,729 | +€246,184 | +325.9% |
| Taxes, remuneration and social security | 45 | €19,390 | €176,026 | +€156,636 | +807.8% |
| Taxes | 450/3 | €328 | €162,032 | +€161,704 | +49330.2% |
| Remuneration and social security | 454/9 | €19,062 | €13,994 | -€5,068 | -26.6% |
| Other amounts payable | 47/48 | €387,808 | - | -€387,808 | |
| Accrued charges and deferred income | 492/3 | €9,665 | €244,121 | +€234,456 | +2425.9% |
| Non-recurring operating income | 76A | - | €349,275 | +€349,275 | |
| Remuneration, social security and pensions | 62 | €98,604 | €81,769 | -€16,836 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,484 | €90,627 | +€39,144 | +76.0% |
| Other operating charges | 640/8 | €17,953 | €52,353 | +€34,400 | +191.6% |
| Non-recurring operating charges | 66A | - | €21,660 | +€21,660 | |
| Gross operating margin | 9900 | €592,220 | €1,214,484 | +€622,264 | +105.1% |
| Operating profit (loss) | 9901 | €424,178 | €968,075 | +€543,896 | +128.2% |
| Financial income | 75/76B | €170 | €362,066 | +€361,897 | +213143.7% |
| Recurring financial income | 75 | €170 | €3,094 | +€2,924 | +1722.2% |
| Non-recurring financial income | 76B | - | €358,973 | +€358,973 | |
| Financial charges | 65/66B | €115,385 | €219,847 | +€104,462 | +90.5% |
| Recurring financial charges | 65 | €115,385 | €111,847 | -€3,538 | -3.1% |
| Non-recurring financial charges | 66B | - | €108,000 | +€108,000 | |
| Profit (loss) for the period before taxes | 9903 | €308,963 | €1,110,294 | +€801,331 | +259.4% |
| Transfer from deferred taxes | 780 | - | €847 | +€847 | |
| Transfer to deferred taxes | 680 | - | €87,319 | +€87,319 | |
| Income taxes | 67/77 | €68,757 | €92,636 | +€23,879 | +34.7% |
| Profit (loss) for the period | 9904 | €240,205 | €931,186 | +€690,981 | +287.7% |
| Transfer from tax-exempt reserves | 789 | - | €2,541 | +€2,541 | |
| Transfer to tax-exempt reserves | 689 | - | €261,956 | +€261,956 | |
| Profit (loss) for the period to be appropriated | 9905 | €240,205 | €671,771 | +€431,565 | +179.7% |
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 12 October 2026 via checked.be.