XS-Projects: 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-Projects
Largest movements
- Receivables within one year +€656,355
up €656,355 (+12,948%), from €5,069 to €661,424
of which Trade receivables: +€660,214
- Stocks and contracts -€87,940
down €87,940 (-28.5%), from €308,829 to €220,890
- Cash +€37,882
up €37,882 (+2,066%), from €1,833 to €39,716
mainly Trade debts (+€641,017) and Stocks and contracts (+€87,940)
- Trade debts +€641,017
up €641,017 (+2,829%), from €22,662 to €663,680
- Debts after one year -€138,431
down €138,431 (-100%), from €138,431 to €0
- Tax, wage and social debts +€41,068
new in 2025: €41,068
- Profit (loss) carried forward +€29,861
up €29,861, from -€29,861 to €0
- Reserves +€21,482
new in 2025: €21,482
- Gross operating margin +€88,696
up €88,696, from -€20,476 to €68,221
- Financial charges +€5,426
up €5,426 (+114%), from €4,744 to €10,170
- Taxes +€5,355
new in 2025: €5,355
- Other operating charges -€3,346
down €3,346 (-71.2%), from €4,699 to €1,353
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 | €317,732 | €924,029 | +€606,297 | +191% |
| Fixed assets | 21/28 | €2,000 | €2,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €315,732 | €922,029 | +€606,297 | +192% |
| Stocks and contracts in progress | 3 | €308,829 | €220,890 | -€87,940 | -28.5% |
| Contracts in progress | 37 | €308,829 | €220,890 | -€87,940 | -28.5% |
| Amounts receivable within one year | 40/41 | €5,069 | €661,424 | +€656,355 | +12,948% |
| Trade receivables | 40 | - | €660,214 | +€660,214 | |
| Other amounts receivable | 41 | €5,069 | €1,210 | -€3,859 | -76.1% |
| Cash at bank and in hand | 54/58 | €1,833 | €39,716 | +€37,882 | +2,066% |
| Total equity and liabilities | 10/49 | €317,732 | €924,029 | +€606,297 | +191% |
| Equity | 10/15 | €30,139 | €81,482 | +€51,343 | +170% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | - | €21,482 | +€21,482 | |
| Distributable reserves | 133 | - | €21,482 | +€21,482 | |
| Profit (loss) carried forward | 14 | -€29,861 | €0 | +€29,861 | |
| Amounts payable | 17/49 | €287,593 | €842,547 | +€554,954 | +193% |
| Amounts payable after more than one year | 17 | €138,431 | €0 | -€138,431 | -100% |
| Financial debts | 170/4 | €138,431 | €0 | -€138,431 | -100% |
| Amounts payable within one year | 42/48 | €149,162 | €842,547 | +€693,385 | +465% |
| Trade debts | 44 | €22,662 | €663,680 | +€641,017 | +2,829% |
| Suppliers | 440/4 | €22,662 | €663,680 | +€641,017 | +2,829% |
| Taxes, remuneration and social security | 45 | - | €41,068 | +€41,068 | |
| Taxes | 450/3 | - | €41,068 | +€41,068 | |
| Other amounts payable | 47/48 | €126,500 | €137,800 | +€11,300 | +8.9% |
| Other operating charges | 640/8 | €4,699 | €1,353 | -€3,346 | -71.2% |
| Gross operating margin | 9900 | -€20,476 | €68,221 | +€88,696 | |
| Operating profit (loss) | 9901 | -€25,175 | €66,868 | +€92,043 | |
| Financial income | 75/76B | €58 | €0 | -€58 | -100% |
| Recurring financial income | 75 | €58 | €0 | -€58 | -100% |
| Financial charges | 65/66B | €4,744 | €10,170 | +€5,426 | +114% |
| Recurring financial charges | 65 | €4,744 | €10,170 | +€5,426 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€29,861 | €56,698 | +€86,559 | |
| Income taxes | 67/77 | - | €5,355 | +€5,355 | |
| Profit (loss) for the period | 9904 | -€29,861 | €51,343 | +€81,204 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,861 | €51,343 | +€81,204 |
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.