XPM-DS: 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.
XPM-DS
Largest movements
- Receivables within one year +€74,909
up €74,909 (+195%), from €38,442 to €113,351
of which Trade receivables: +€38,130
- Deferred charges and accrued income +€61,144
up €61,144 (+237%), from €25,749 to €86,893
- Cash +€48,711
up €48,711 (+22.8%), from €213,912 to €262,623
mainly Net result for the year (+€219,128) and Other debts (+€32,151)
- Tangible fixed assets -€27,062
down €27,062 (-5.9%), from €455,470 to €428,408
of which Furniture and vehicles: -€14,841
- Receivables after one year -€23,762
down €23,762 (-4.7%), from €510,340 to €486,579
- Reserves +€145,838
up €145,838 (+17.3%), from €842,516 to €988,354
of which Distributable reserves: +€149,138
- Other debts +€32,151
up €32,151 (+84.6%), from €38,000 to €70,151
- Tax, wage and social debts -€29,768
down €29,768 (-45.0%), from €66,217 to €36,449
- Debts after one year -€19,931
down €19,931 (-16.9%), from €117,839 to €97,908
- Trade debts +€14,112
up €14,112 (+592%), from €2,385 to €16,497
- Gross operating margin +€45,135
up €45,135 (+15.4%), from €293,147 to €338,282
- Taxes +€14,088
up €14,088 (+16.5%), from €85,166 to €99,254
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.
Derived cash bridge
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 | €1,243,913 | €1,377,853 | +€133,940 | +10.8% |
| Fixed assets | 21/28 | €455,470 | €428,408 | -€27,062 | -5.9% |
| Tangible fixed assets | 22/27 | €455,470 | €428,408 | -€27,062 | -5.9% |
| Land and buildings | 22 | €428,946 | €416,612 | -€12,335 | -2.9% |
| Plant, machinery and equipment | 23 | €1,435 | €1,548 | +€113 | +7.9% |
| Furniture and vehicles | 24 | €25,089 | €10,248 | -€14,841 | -59.2% |
| Current assets | 29/58 | €788,443 | €949,446 | +€161,002 | +20.4% |
| Amounts receivable after more than one year | 29 | €510,340 | €486,579 | -€23,762 | -4.7% |
| Trade receivables | 290 | €510,340 | €486,579 | -€23,762 | -4.7% |
| Amounts receivable within one year | 40/41 | €38,442 | €113,351 | +€74,909 | +195% |
| Trade receivables | 40 | €11,898 | €50,028 | +€38,130 | +320% |
| Other amounts receivable | 41 | €26,544 | €63,323 | +€36,779 | +139% |
| Cash at bank and in hand | 54/58 | €213,912 | €262,623 | +€48,711 | +22.8% |
| Deferred charges and accrued income | 490/1 | €25,749 | €86,893 | +€61,144 | +237% |
| Total equity and liabilities | 10/49 | €1,243,913 | €1,377,853 | +€133,940 | +10.8% |
| Equity | 10/15 | €961,489 | €1,107,326 | +€145,838 | +15.2% |
| Contributions | 10/11 | €95,674 | €95,674 | = | 0.0% |
| Reserves | 13 | €842,516 | €988,354 | +€145,838 | +17.3% |
| Tax-exempt reserves | 132 | €95,718 | €92,418 | -€3,301 | -3.4% |
| Distributable reserves | 133 | €746,797 | €895,936 | +€149,138 | +20.0% |
| Profit (loss) carried forward | 14 | €23,298 | €23,298 | = | 0.0% |
| Provisions and deferred taxes | 16 | €23,930 | €23,104 | -€825 | -3.4% |
| Deferred taxes | 168 | €23,930 | €23,104 | -€825 | -3.4% |
| Amounts payable | 17/49 | €258,495 | €247,422 | -€11,073 | -4.3% |
| Amounts payable after more than one year | 17 | €117,839 | €97,908 | -€19,931 | -16.9% |
| Financial debts | 170/4 | €117,839 | €97,908 | -€19,931 | -16.9% |
| Amounts payable within one year | 42/48 | €132,226 | €143,255 | +€11,029 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €25,624 | €19,931 | -€5,693 | -22.2% |
| Financial debts | 43 | - | €228 | +€228 | |
| Credit institutions | 430/8 | - | €228 | +€228 | |
| Trade debts | 44 | €2,385 | €16,497 | +€14,112 | +592% |
| Suppliers | 440/4 | €2,385 | €16,497 | +€14,112 | +592% |
| Taxes, remuneration and social security | 45 | €66,217 | €36,449 | -€29,768 | -45.0% |
| Taxes | 450/3 | €66,217 | €36,449 | -€29,768 | -45.0% |
| Other amounts payable | 47/48 | €38,000 | €70,151 | +€32,151 | +84.6% |
| Accrued charges and deferred income | 492/3 | €8,430 | €6,259 | -€2,171 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,725 | €28,162 | -€2,563 | -8.3% |
| Other operating charges | 640/8 | €3,507 | €4,081 | +€574 | +16.4% |
| Gross operating margin | 9900 | €293,147 | €338,282 | +€45,135 | +15.4% |
| Operating profit (loss) | 9901 | €258,914 | €306,039 | +€47,124 | +18.2% |
| Financial income | 75/76B | €14,407 | €14,820 | +€412 | +2.9% |
| Recurring financial income | 75 | €14,407 | €14,820 | +€412 | +2.9% |
| Financial charges | 65/66B | €3,289 | €3,302 | +€13 | +0.4% |
| Recurring financial charges | 65 | €3,289 | €3,302 | +€13 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €270,033 | €317,557 | +€47,524 | +17.6% |
| Transfer from deferred taxes | 780 | €825 | €825 | = | 0.0% |
| Income taxes | 67/77 | €85,166 | €99,254 | +€14,088 | +16.5% |
| Profit (loss) for the period | 9904 | €185,692 | €219,128 | +€33,436 | +18.0% |
| Transfer from tax-exempt reserves | 789 | €3,301 | €3,301 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €188,992 | €222,428 | +€33,436 | +17.7% |
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 17 October 2026 via checked.be.