Xper Research: 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.
Xper Research
Largest movements
- Receivables within one year +€605,385
up €605,385 (+620.8%), from €97,520 to €702,905
of which Trade receivables: +€602,801
- Cash +€57,852
up €57,852 (+21.0%), from €274,985 to €332,837
mainly Net result for the year (+€275,812) and Tax, wage and social debts (+€199,886)
- Deferred charges and accrued income +€24,862
up €24,862 (+1149.4%), from €2,163 to €27,025
- Tangible fixed assets +€14,589
up €14,589 (+79.2%), from €18,425 to €33,014
- Financial fixed assets +€13,100
new in 2025: €13,100
- Reserves +€275,812
up €275,812 (+150.3%), from €183,524 to €459,336
- Tax, wage and social debts +€199,886
up €199,886 (+224.3%), from €89,107 to €288,992
of which Taxes: +€134,174
- Trade debts +€143,988
up €143,988 (+124.0%), from €116,101 to €260,090
- Accrued charges and deferred income +€96,088
up €96,088 (+19649.2%), from €489 to €96,578
- Gross operating margin +€722,807
up €722,807 (+136.7%), from €528,601 to €1.3m
- Staff costs +€574,702
up €574,702 (+204.4%), from €281,139 to €855,841
- Taxes +€39,517
up €39,517 (+68.9%), from €57,389 to €96,906
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 | €393,093 | €1,108,881 | +€715,789 | +182.1% |
| Fixed assets | 21/28 | €18,425 | €46,114 | +€27,689 | +150.3% |
| Tangible fixed assets | 22/27 | €18,425 | €33,014 | +€14,589 | +79.2% |
| Plant, machinery and equipment | 23 | €18,425 | €33,014 | +€14,589 | +79.2% |
| Financial fixed assets | 28 | - | €13,100 | +€13,100 | |
| Current assets | 29/58 | €374,668 | €1,062,767 | +€688,100 | +183.7% |
| Amounts receivable within one year | 40/41 | €97,520 | €702,905 | +€605,385 | +620.8% |
| Trade receivables | 40 | €95,105 | €697,905 | +€602,801 | +633.8% |
| Other amounts receivable | 41 | €2,415 | €5,000 | +€2,585 | +107.0% |
| Cash at bank and in hand | 54/58 | €274,985 | €332,837 | +€57,852 | +21.0% |
| Deferred charges and accrued income | 490/1 | €2,163 | €27,025 | +€24,862 | +1149.4% |
| Total equity and liabilities | 10/49 | €393,093 | €1,108,881 | +€715,789 | +182.1% |
| Equity | 10/15 | €186,524 | €462,336 | +€275,812 | +147.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €183,524 | €459,336 | +€275,812 | +150.3% |
| Distributable reserves | 133 | €183,524 | €459,336 | +€275,812 | +150.3% |
| Amounts payable | 17/49 | €206,569 | €646,545 | +€439,977 | +213.0% |
| Amounts payable within one year | 42/48 | €206,080 | €549,968 | +€343,888 | +166.9% |
| Trade debts | 44 | €116,101 | €260,090 | +€143,988 | +124.0% |
| Suppliers | 440/4 | €116,101 | €260,090 | +€143,988 | +124.0% |
| Taxes, remuneration and social security | 45 | €89,107 | €288,992 | +€199,886 | +224.3% |
| Taxes | 450/3 | €56,014 | €190,189 | +€134,174 | +239.5% |
| Remuneration and social security | 454/9 | €33,092 | €98,804 | +€65,712 | +198.6% |
| Other amounts payable | 47/48 | €872 | €886 | +€14 | +1.6% |
| Accrued charges and deferred income | 492/3 | €489 | €96,578 | +€96,088 | +19649.2% |
| Remuneration, social security and pensions | 62 | €281,139 | €855,841 | +€574,702 | +204.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,583 | €10,419 | +€5,836 | +127.3% |
| Other operating charges | 640/8 | - | €496 | +€496 | |
| Gross operating margin | 9900 | €528,601 | €1,251,408 | +€722,807 | +136.7% |
| Operating profit (loss) | 9901 | €242,879 | €384,652 | +€141,773 | +58.4% |
| Financial income | 75/76B | €2 | €231 | +€229 | +11413.4% |
| Recurring financial income | 75 | €2 | €231 | +€229 | +11413.4% |
| Financial charges | 65/66B | €1,968 | €12,165 | +€10,197 | +518.0% |
| Recurring financial charges | 65 | €1,968 | €12,165 | +€10,197 | +518.0% |
| Profit (loss) for the period before taxes | 9903 | €240,912 | €372,718 | +€131,806 | +54.7% |
| Income taxes | 67/77 | €57,389 | €96,906 | +€39,517 | +68.9% |
| Profit (loss) for the period | 9904 | €183,524 | €275,812 | +€92,289 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €183,524 | €275,812 | +€92,289 | +50.3% |
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.