XPO: 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.
XPO
Largest movements
- Cash +€44,459
up €44,459 (+96.9%), from €45,883 to €90,342
mainly Net result for the year (+€66,219) and Depreciation (+€22,227)
- Tangible fixed assets -€9,464
down €9,464 (-6.6%), from €144,332 to €134,867
of which Land and buildings: -€12,748
- Intangible fixed assets +€9,448
new in 2025: €9,448
- Reserves +€63,819
up €63,819 (+92.5%), from €69,025 to €132,843
of which Distributable reserves: +€63,819
- Other debts -€11,871
down €11,871 (-71.3%), from €16,642 to €4,771
- Trade debts -€5,186
down €5,186 (-18.1%), from €28,690 to €23,504
- Tax, wage and social debts -€3,549
down €3,549 (-30.3%), from €11,714 to €8,164
of which Remuneration and social security: -€3,351
- Staff costs -€48,202
down €48,202 (-99.9%), from €48,251 to €49
- Taxes +€18,799
up €18,799 (+433%), from €4,338 to €23,138
- Gross operating margin +€5,247
up €5,247 (+4.7%), from €111,494 to €116,741
- Financial charges -€1,685
down €1,685 (-60.0%), from €2,808 to €1,123
- Depreciation +€1,451
up €1,451 (+7.0%), from €20,776 to €22,227
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 | €246,779 | €290,370 | +€43,591 | +17.7% |
| Fixed assets | 21/28 | €144,382 | €144,365 | -€16 | 0.0% |
| Intangible fixed assets | 21 | - | €9,448 | +€9,448 | |
| Tangible fixed assets | 22/27 | €144,332 | €134,867 | -€9,464 | -6.6% |
| Land and buildings | 22 | €123,108 | €110,360 | -€12,748 | -10.4% |
| Plant, machinery and equipment | 23 | €18,622 | €17,236 | -€1,386 | -7.4% |
| Furniture and vehicles | 24 | €2,602 | €7,271 | +€4,669 | +179% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €102,398 | €146,005 | +€43,607 | +42.6% |
| Stocks and contracts in progress | 3 | €20,426 | €22,231 | +€1,805 | +8.8% |
| Stocks | 30/36 | €20,426 | €22,231 | +€1,805 | +8.8% |
| Amounts receivable within one year | 40/41 | €26,473 | €24,090 | -€2,383 | -9.0% |
| Trade receivables | 40 | €23,238 | €15,846 | -€7,392 | -31.8% |
| Other amounts receivable | 41 | €3,235 | €8,244 | +€5,009 | +155% |
| Cash at bank and in hand | 54/58 | €45,883 | €90,342 | +€44,459 | +96.9% |
| Deferred charges and accrued income | 490/1 | €9,616 | €9,343 | -€274 | -2.8% |
| Total equity and liabilities | 10/49 | €246,779 | €290,370 | +€43,591 | +17.7% |
| Equity | 10/15 | €189,025 | €252,843 | +€63,819 | +33.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €69,025 | €132,843 | +€63,819 | +92.5% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €510 | €510 | = | 0.0% |
| Distributable reserves | 133 | €56,514 | €120,333 | +€63,819 | +113% |
| Amounts payable | 17/49 | €57,754 | €37,527 | -€20,227 | -35.0% |
| Amounts payable within one year | 42/48 | €57,046 | €36,633 | -€20,413 | -35.8% |
| Trade debts | 44 | €28,690 | €23,504 | -€5,186 | -18.1% |
| Suppliers | 440/4 | €28,690 | €23,504 | -€5,186 | -18.1% |
| Advances received on contracts in progress | 46 | - | €194 | +€194 | |
| Taxes, remuneration and social security | 45 | €11,714 | €8,164 | -€3,549 | -30.3% |
| Taxes | 450/3 | €8,363 | €8,164 | -€198 | -2.4% |
| Remuneration and social security | 454/9 | €3,351 | - | -€3,351 | |
| Other amounts payable | 47/48 | €16,642 | €4,771 | -€11,871 | -71.3% |
| Accrued charges and deferred income | 492/3 | €709 | €894 | +€185 | +26.1% |
| Remuneration, social security and pensions | 62 | €48,251 | €49 | -€48,202 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,776 | €22,227 | +€1,451 | +7.0% |
| Other operating charges | 640/8 | €3,869 | €3,988 | +€119 | +3.1% |
| Gross operating margin | 9900 | €111,494 | €116,741 | +€5,247 | +4.7% |
| Operating profit (loss) | 9901 | €38,598 | €90,476 | +€51,878 | +134% |
| Financial income | 75/76B | €1 | €3 | +€3 | +376% |
| Recurring financial income | 75 | €1 | €3 | +€3 | +376% |
| Financial charges | 65/66B | €2,808 | €1,123 | -€1,685 | -60.0% |
| Recurring financial charges | 65 | €2,808 | €1,123 | -€1,685 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €35,791 | €89,357 | +€53,565 | +150% |
| Income taxes | 67/77 | €4,338 | €23,138 | +€18,799 | +433% |
| Profit (loss) for the period | 9904 | €31,453 | €66,219 | +€34,766 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €31,453 | €66,219 | +€34,766 | +111% |
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 19 October 2026 via checked.be.