Xval: 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.
Xval
Largest movements
- Cash -€52,966
down €52,966 (-92.5%), from €57,268 to €4,301
mainly Current investments (-€41,276) and Trade debts (-€35,303)
- Current investments +€41,276
up €41,276 (+55.0%), from €75,000 to €116,276
- Receivables within one year -€5,305
down €5,305 (-16.5%), from €32,251 to €26,946
of which Trade receivables: -€3,227
- Deferred charges and accrued income -€5,000
down €5,000 (-97.1%), from €5,151 to €151
- Trade debts -€35,303
down €35,303 (-67.4%), from €52,407 to €17,104
- Profit (loss) carried forward +€8,351
no longer reported in 2025 (was -€8,351)
- Reserves +€3,490
up €3,490 (+3.3%), from €107,014 to €110,504
- Gross operating margin +€3,337
up €3,337 (+35.2%), from €9,490 to €12,828
- Taxes +€2,712
new in 2025: €2,712
- Financial income +€1,871
up €1,871 (+986%), from €190 to €2,061
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 | €169,670 | €147,674 | -€21,996 | -13.0% |
| Current assets | 29/58 | €169,670 | €147,674 | -€21,996 | -13.0% |
| Amounts receivable within one year | 40/41 | €32,251 | €26,946 | -€5,305 | -16.5% |
| Trade receivables | 40 | €23,598 | €20,371 | -€3,227 | -13.7% |
| Other amounts receivable | 41 | €8,653 | €6,575 | -€2,078 | -24.0% |
| Current investments | 50/53 | €75,000 | €116,276 | +€41,276 | +55.0% |
| Cash at bank and in hand | 54/58 | €57,268 | €4,301 | -€52,966 | -92.5% |
| Deferred charges and accrued income | 490/1 | €5,151 | €151 | -€5,000 | -97.1% |
| Total equity and liabilities | 10/49 | €169,670 | €147,674 | -€21,996 | -13.0% |
| Equity | 10/15 | €117,263 | €129,104 | +€11,841 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,014 | €110,504 | +€3,490 | +3.3% |
| Distributable reserves | 133 | €107,014 | €110,504 | +€3,490 | +3.3% |
| Profit (loss) carried forward | 14 | -€8,351 | - | +€8,351 | |
| Amounts payable | 17/49 | €52,407 | €18,570 | -€33,836 | -64.6% |
| Amounts payable within one year | 42/48 | €52,407 | €18,570 | -€33,836 | -64.6% |
| Trade debts | 44 | €52,407 | €17,104 | -€35,303 | -67.4% |
| Suppliers | 440/4 | €52,407 | €17,104 | -€35,303 | -67.4% |
| Taxes, remuneration and social security | 45 | - | €1,467 | +€1,467 | |
| Taxes | 450/3 | - | €1,467 | +€1,467 | |
| Other operating charges | 640/8 | €182 | €186 | +€4 | +2.1% |
| Gross operating margin | 9900 | €9,490 | €12,828 | +€3,337 | +35.2% |
| Operating profit (loss) | 9901 | €9,309 | €12,642 | +€3,334 | +35.8% |
| Financial income | 75/76B | €190 | €2,061 | +€1,871 | +986% |
| Recurring financial income | 75 | €190 | €2,061 | +€1,871 | +986% |
| Financial charges | 65/66B | €128 | €150 | +€23 | +17.6% |
| Recurring financial charges | 65 | €128 | €150 | +€23 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €9,371 | €14,553 | +€5,182 | +55.3% |
| Income taxes | 67/77 | - | €2,712 | +€2,712 | |
| Profit (loss) for the period | 9904 | €9,371 | €11,841 | +€2,470 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,371 | €11,841 | +€2,470 | +26.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.