XS Project: 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.
XS Project
Largest movements
- Cash +€23,566
up €23,566 (+75.0%), from €31,440 to €55,006
mainly Net result for the year (+€44,745) and Other debts (+€26,910)
- Tangible fixed assets +€17,013
up €17,013 (+175%), from €9,701 to €26,714
of which Land and buildings: +€16,521
- Receivables within one year +€1,732
up €1,732 (+11.0%), from €15,801 to €17,533
of which Trade receivables: +€1,582
- Deferred charges and accrued income -€1,299
no longer reported in 2025 (was €1,299)
- Other debts +€26,910
up €26,910 (+140%), from €19,182 to €46,092
- Tax, wage and social debts +€16,875
up €16,875 (+74.7%), from €22,576 to €39,451
of which Taxes: +€14,675
- Trade debts -€2,773
down €2,773 (-95.4%), from €2,907 to €135
- Turnover -€176,695
no longer reported in 2025 (was €176,695)
- Purchases and services -€174,548
no longer reported in 2025 (was €174,548)
- Gross operating margin +€53,127
up €53,127 (+260%), from €20,410 to €73,537
- Taxes +€16,461
up €16,461 (+197%), from €8,351 to €24,812
- Depreciation +€2,039
up €2,039 (+274%), from €744 to €2,783
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 | €58,241 | €99,253 | +€41,012 | +70.4% |
| Fixed assets | 21/28 | €9,701 | €26,714 | +€17,013 | +175% |
| Tangible fixed assets | 22/27 | €9,701 | €26,714 | +€17,013 | +175% |
| Land and buildings | 22 | - | €16,521 | +€16,521 | |
| Furniture and vehicles | 24 | €9,701 | €10,193 | +€492 | +5.1% |
| Current assets | 29/58 | €48,540 | €72,539 | +€23,999 | +49.4% |
| Amounts receivable within one year | 40/41 | €15,801 | €17,533 | +€1,732 | +11.0% |
| Trade receivables | 40 | €14,883 | €16,465 | +€1,582 | +10.6% |
| Other amounts receivable | 41 | €918 | €1,069 | +€151 | +16.4% |
| Cash at bank and in hand | 54/58 | €31,440 | €55,006 | +€23,566 | +75.0% |
| Deferred charges and accrued income | 490/1 | €1,299 | - | -€1,299 | |
| Total equity and liabilities | 10/49 | €58,241 | €99,253 | +€41,012 | +70.4% |
| Equity | 10/15 | €13,575 | €13,575 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,575 | €10,575 | = | 0.0% |
| Amounts payable | 17/49 | €44,666 | €85,678 | +€41,012 | +91.8% |
| Amounts payable within one year | 42/48 | €44,666 | €85,678 | +€41,012 | +91.8% |
| Trade debts | 44 | €2,907 | €135 | -€2,773 | -95.4% |
| Suppliers | 440/4 | €2,907 | €135 | -€2,773 | -95.4% |
| Taxes, remuneration and social security | 45 | €22,576 | €39,451 | +€16,875 | +74.7% |
| Taxes | 450/3 | €22,576 | €37,251 | +€14,675 | +65.0% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €19,182 | €46,092 | +€26,910 | +140% |
| Turnover | 70 | €176,695 | - | -€176,695 | |
| Non-recurring operating income | 76A | €18,263 | - | -€18,263 | |
| Goods, raw materials, services and sundry goods | 60/61 | €174,548 | - | -€174,548 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €744 | €2,783 | +€2,039 | +274% |
| Other operating charges | 640/8 | €385 | €654 | +€269 | +69.9% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €20,410 | €73,537 | +€53,127 | +260% |
| Operating profit (loss) | 9901 | €19,280 | €70,036 | +€50,756 | +263% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €481 | €479 | -€2 | -0.4% |
| Recurring financial charges | 65 | €481 | €479 | -€2 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €18,799 | €69,557 | +€50,758 | +270% |
| Income taxes | 67/77 | €8,351 | €24,812 | +€16,461 | +197% |
| Profit (loss) for the period | 9904 | €10,448 | €44,745 | +€34,297 | +328% |
| Profit (loss) for the period to be appropriated | 9905 | €10,448 | €44,745 | +€34,297 | +328% |
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 18 October 2026 via checked.be.