XP MANAGEMENT: 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.
What changed
XP MANAGEMENT
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€35,164
2024 · -€22,998-€12,166
Equity
-€53,069
2024 · -€17,905-€35,164
Cash
€930
2024 · €176+€754
Balance sheet total
€9,018
2024 · €53,953-€44,935
Largest movements
Assets
- Receivables within one year -€40,070
down €40,070 (-94.9%), from €42,243 to €2,173
of which Trade receivables: -€25,805
- Tangible fixed assets -€5,248
down €5,248 (-53.6%), from €9,790 to €4,542
of which Furniture and vehicles: -€5,248
- Cash +€754
up €754 (+429.4%), from €176 to €930
mainly Receivables within one year (+€40,070) and Depreciation (+€7,820)
Equity and liabilities
- Profit (loss) carried forward -€35,164
down €35,164 (-19.4%), from -€181,455 to -€216,619
- Other debts -€10,429
down €10,429 (-14.9%), from €69,823 to €59,394
- Trade debts +€1,059
up €1,059 (+78.3%), from €1,352 to €2,410
of which Suppliers: +€1,059
Income statement
- Financial charges -€49,860
down €49,860, from €222 to -€49,637
of which Non-recurring financial charges: -€50,000
- Purchases and services +€25,093
new in 2025: €25,093
- Other operating charges +€11,449
up €11,449 (+780.8%), from €1,466 to €12,916
- Write-downs -€11,346
new in 2025: -€11,346
- Gross operating margin -€11,323
down €11,323 (-82.2%), from -€13,770 to -€25,093
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.
Result 2024
-€22,998
Gross operating margin
-€11,323
Depreciation
-€605
Write-downs
+€11,346
Other operating charges
-€11,449
Other operating items
-€50,000
Financial income
-€2
Financial charges
+€49,860
Taxes
+€7
Result 2025
-€35,164
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.
From operations
+€3,283
Investment
-€2,172
Financing
-€356
Cash 2024
€176
From operations (derived)
+€3,283
Net result for the year
-€35,164
Depreciation
+€7,820
Receivables within one year
+€40,070
Smaller working-capital items
-€73
Trade debts
+€1,059
Other debts
-€10,429
Investment (derived)
-€2,172
Investment in fixed assets (net)
-€2,172
Financing
-€356
Short-term financial debts
-€356
Cash 2025
€930
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,953 | €9,018 | -€44,935 | -83.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €10,776 | €5,128 | -€5,648 | -52.4% |
| Intangible fixed assets | 21 | €986 | €586 | -€400 | -40.6% |
| Tangible fixed assets | 22/27 | €9,790 | €4,542 | -€5,248 | -53.6% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €9,790 | €4,542 | -€5,248 | -53.6% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €43,177 | €3,890 | -€39,287 | -91.0% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Stocks | 30/36 | - | €0 | = | |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €42,243 | €2,173 | -€40,070 | -94.9% |
| Trade receivables | 40 | €25,805 | €0 | -€25,805 | -100.0% |
| Other amounts receivable | 41 | €16,438 | €2,173 | -€14,265 | -86.8% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €176 | €930 | +€754 | +429.4% |
| Deferred charges and accrued income | 490/1 | €759 | €788 | +€29 | +3.8% |
| Total equity and liabilities | 10/49 | €53,953 | €9,018 | -€44,935 | -83.3% |
| Equity | 10/15 | -€17,905 | -€53,069 | -€35,164 | -196.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | - | €0 | = | |
| Issued capital | 100 | - | €0 | = | |
| Uncalled capital | 101 | - | €0 | = | |
| Outside capital | 11 | - | €62,500 | +€62,500 | |
| Share premium | 1100/10 | - | €0 | = | |
| Other | 1109/19 | - | €62,500 | +€62,500 | |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €101,050 | €101,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | - | €0 | = | |
| Reserves not available under the articles | 1311 | €6,250 | €6,250 | = | 0.0% |
| Own shares acquired | 1312 | - | €0 | = | |
| Financial assistance | 1313 | - | €0 | = | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | €17,492 | €17,492 | = | 0.0% |
| Distributable reserves | 133 | €77,308 | €77,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,455 | -€216,619 | -€35,164 | -19.4% |
| Investment grants | 15 | - | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €71,858 | €62,086 | -€9,771 | -13.6% |
| Amounts payable after more than one year | 17 | - | €0 | = | |
| Financial debts | 170/4 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €71,858 | €62,086 | -€9,771 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | €356 | €0 | -€356 | -100.0% |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | €356 | €0 | -€356 | -100.0% |
| Trade debts | 44 | €1,352 | €2,410 | +€1,059 | +78.3% |
| Suppliers | 440/4 | €1,352 | €2,410 | +€1,059 | +78.3% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €326 | €282 | -€44 | -13.6% |
| Taxes | 450/3 | €326 | €282 | -€44 | -13.6% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €69,823 | €59,394 | -€10,429 | -14.9% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €25,093 | +€25,093 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,215 | €7,820 | +€605 | +8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€11,346 | -€11,346 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €1,466 | €12,916 | +€11,449 | +780.8% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €50,000 | +€50,000 | |
| Gross operating margin | 9900 | -€13,770 | -€25,093 | -€11,323 | -82.2% |
| Operating profit (loss) | 9901 | -€22,451 | -€84,482 | -€62,031 | -276.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €222 | -€49,637 | -€49,860 | |
| Recurring financial charges | 65 | €222 | €363 | +€140 | +63.2% |
| Non-recurring financial charges | 66B | - | -€50,000 | -€50,000 | |
| Profit (loss) for the period before taxes | 9903 | -€22,672 | -€34,845 | -€12,173 | -53.7% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | €327 | €319 | -€7 | -2.2% |
| Profit (loss) for the period | 9904 | -€22,998 | -€35,164 | -€12,166 | -52.9% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,998 | -€35,164 | -€12,166 | -52.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.