XTO MAX: what changed
Two fiscal 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.
XTO MAX
Largest movements
- Tangible fixed assets +€68,977
up €68,977 (+3532.7%), from €1,953 to €70,929
of which Leasing and similar rights: +€70,748
- Cash +€27,564
up €27,564 (+6.4%), from €432,486 to €460,050
mainly Net result for the year (+€61,408) and Other debts (+€57,167)
- Intangible fixed assets -€13,773
down €13,773 (-48.4%), from €28,432 to €14,659
- Receivables within one year -€12,962
down €12,962 (-12.6%), from €102,480 to €89,517
of which Trade receivables: -€34,382
- Deferred charges and accrued income +€7,755
up €7,755 (+1941.5%), from €399 to €8,154
- Other debts +€57,167
up €57,167 (+365.1%), from €15,660 to €72,826
- Debts after one year +€39,245
new in 2025: €39,245
- Tax, wage and social debts -€31,728
down €31,728 (-53.2%), from €59,598 to €27,870
of which Taxes: -€26,533
- Current portion of long-term debt +€16,077
up €16,077 (+162.8%), from €9,875 to €25,952
- Gross operating margin -€88,592
down €88,592 (-25.8%), from €343,379 to €254,787
- Staff costs -€26,445
down €26,445 (-19.6%), from €134,944 to €108,499
- Taxes -€16,867
down €16,867 (-55.1%), from €30,596 to €13,729
- Depreciation +€10,735
up €10,735 (+66.7%), from €16,089 to €26,824
- Other operating charges -€7,912
down €7,912 (-17.1%), from €46,274 to €38,362
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 | €680,965 | €755,462 | +€74,496 | +10.9% |
| Fixed assets | 21/28 | €31,772 | €87,177 | +€55,404 | +174.4% |
| Intangible fixed assets | 21 | €28,432 | €14,659 | -€13,773 | -48.4% |
| Tangible fixed assets | 22/27 | €1,953 | €70,929 | +€68,977 | +3532.7% |
| Plant, machinery and equipment | 23 | €971 | - | -€971 | |
| Furniture and vehicles | 24 | €981 | €182 | -€799 | -81.5% |
| Leasing and similar rights | 25 | - | €70,748 | +€70,748 | |
| Financial fixed assets | 28 | €1,388 | €1,588 | +€200 | +14.4% |
| Current assets | 29/58 | €649,193 | €668,285 | +€19,092 | +2.9% |
| Stocks and contracts in progress | 3 | €113,828 | €110,563 | -€3,265 | -2.9% |
| Stocks | 30/36 | €113,828 | €110,563 | -€3,265 | -2.9% |
| Amounts receivable within one year | 40/41 | €102,480 | €89,517 | -€12,962 | -12.6% |
| Trade receivables | 40 | €99,450 | €65,068 | -€34,382 | -34.6% |
| Other amounts receivable | 41 | €3,029 | €24,449 | +€21,420 | +707.1% |
| Cash at bank and in hand | 54/58 | €432,486 | €460,050 | +€27,564 | +6.4% |
| Deferred charges and accrued income | 490/1 | €399 | €8,154 | +€7,755 | +1941.5% |
| Total equity and liabilities | 10/49 | €680,965 | €755,462 | +€74,496 | +10.9% |
| Equity | 10/15 | €521,815 | €521,815 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €503,215 | €503,215 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €501,355 | €501,355 | = | 0.0% |
| Amounts payable | 17/49 | €159,150 | €233,646 | +€74,496 | +46.8% |
| Amounts payable after more than one year | 17 | - | €39,245 | +€39,245 | |
| Financial debts | 170/4 | - | €39,245 | +€39,245 | |
| Amounts payable within one year | 42/48 | €156,150 | €194,401 | +€38,251 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €9,875 | €25,952 | +€16,077 | +162.8% |
| Trade debts | 44 | €71,017 | €67,753 | -€3,264 | -4.6% |
| Suppliers | 440/4 | €71,017 | €67,753 | -€3,264 | -4.6% |
| Taxes, remuneration and social security | 45 | €59,598 | €27,870 | -€31,728 | -53.2% |
| Taxes | 450/3 | €37,771 | €11,238 | -€26,533 | -70.2% |
| Remuneration and social security | 454/9 | €21,827 | €16,631 | -€5,195 | -23.8% |
| Other amounts payable | 47/48 | €15,660 | €72,826 | +€57,167 | +365.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €134,944 | €108,499 | -€26,445 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,089 | €26,824 | +€10,735 | +66.7% |
| Other operating charges | 640/8 | €46,274 | €38,362 | -€7,912 | -17.1% |
| Gross operating margin | 9900 | €343,379 | €254,787 | -€88,592 | -25.8% |
| Operating profit (loss) | 9901 | €146,073 | €81,103 | -€64,970 | -44.5% |
| Financial income | 75/76B | €1,580 | €2 | -€1,578 | -99.9% |
| Recurring financial income | 75 | €1,580 | €2 | -€1,578 | -99.9% |
| Financial charges | 65/66B | €7,760 | €5,968 | -€1,792 | -23.1% |
| Recurring financial charges | 65 | €7,760 | €5,968 | -€1,792 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €139,892 | €75,137 | -€64,755 | -46.3% |
| Income taxes | 67/77 | €30,596 | €13,729 | -€16,867 | -55.1% |
| Profit (loss) for the period | 9904 | €109,297 | €61,408 | -€47,888 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €109,297 | €61,408 | -€47,888 | -43.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.