XVH-INVEST: 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.
XVH-INVEST
Largest movements
- Receivables within one year +€24,168
up €24,168 (+3018.6%), from €801 to €24,969
of which Trade receivables: +€17,223
- Cash -€7,498
down €7,498 (-8.1%), from €92,025 to €84,527
mainly Receivables within one year (-€24,168) and Deferred charges and accrued income (-€7,484)
- Deferred charges and accrued income +€7,484
up €7,484 (+129.6%), from €5,774 to €13,258
- Tangible fixed assets -€3,880
down €3,880 (-6.8%), from €56,939 to €53,060
of which Other tangible fixed assets: -€3,258
- Receivables after one year -€3,516
down €3,516 (-2.3%), from €153,516 to €150,000
- Reserves +€25,400
up €25,400 (+9.7%), from €263,160 to €288,560
of which Distributable reserves: +€25,400
- Other debts -€4,788
down €4,788 (-47.5%), from €10,071 to €5,283
- Gross operating margin -€31,373
down €31,373 (-42.4%), from €73,953 to €42,581
- Taxes -€5,529
down €5,529 (-36.3%), from €15,248 to €9,719
- Depreciation +€1,062
up €1,062 (+13.1%), from €8,097 to €9,159
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 | €309,056 | €325,814 | +€16,758 | +5.4% |
| Fixed assets | 21/28 | €56,939 | €53,060 | -€3,880 | -6.8% |
| Tangible fixed assets | 22/27 | €56,939 | €53,060 | -€3,880 | -6.8% |
| Plant, machinery and equipment | 23 | €660 | €585 | -€76 | -11.4% |
| Furniture and vehicles | 24 | €1,243 | €697 | -€546 | -43.9% |
| Other tangible fixed assets | 26 | €55,036 | €51,778 | -€3,258 | -5.9% |
| Current assets | 29/58 | €252,116 | €272,754 | +€20,638 | +8.2% |
| Amounts receivable after more than one year | 29 | €153,516 | €150,000 | -€3,516 | -2.3% |
| Other amounts receivable | 291 | €153,516 | €150,000 | -€3,516 | -2.3% |
| Amounts receivable within one year | 40/41 | €801 | €24,969 | +€24,168 | +3018.6% |
| Trade receivables | 40 | €80 | €17,303 | +€17,223 | +21637.4% |
| Other amounts receivable | 41 | €721 | €7,666 | +€6,944 | +963.1% |
| Cash at bank and in hand | 54/58 | €92,025 | €84,527 | -€7,498 | -8.1% |
| Deferred charges and accrued income | 490/1 | €5,774 | €13,258 | +€7,484 | +129.6% |
| Total equity and liabilities | 10/49 | €309,056 | €325,814 | +€16,758 | +5.4% |
| Equity | 10/15 | €281,853 | €307,352 | +€25,499 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €263,160 | €288,560 | +€25,400 | +9.7% |
| 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 | €261,300 | €286,700 | +€25,400 | +9.7% |
| Profit (loss) carried forward | 14 | €93 | €192 | +€99 | +105.7% |
| Amounts payable | 17/49 | €27,202 | €18,462 | -€8,740 | -32.1% |
| Amounts payable within one year | 42/48 | €26,266 | €18,115 | -€8,151 | -31.0% |
| Trade debts | 44 | €6,477 | €4,262 | -€2,214 | -34.2% |
| Suppliers | 440/4 | €6,477 | €4,262 | -€2,214 | -34.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,719 | €8,570 | -€1,148 | -11.8% |
| Taxes | 450/3 | €9,719 | €8,570 | -€1,148 | -11.8% |
| Other amounts payable | 47/48 | €10,071 | €5,283 | -€4,788 | -47.5% |
| Accrued charges and deferred income | 492/3 | €936 | €347 | -€589 | -62.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,097 | €9,159 | +€1,062 | +13.1% |
| Other operating charges | 640/8 | €1,630 | €1,112 | -€517 | -31.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €73,953 | €42,581 | -€31,373 | -42.4% |
| Operating profit (loss) | 9901 | €64,227 | €32,310 | -€31,917 | -49.7% |
| Financial income | 75/76B | €6,000 | €6,150 | +€150 | +2.5% |
| Recurring financial income | 75 | €6,000 | €6,150 | +€150 | +2.5% |
| Financial charges | 65/66B | €2,678 | €2,409 | -€269 | -10.0% |
| Recurring financial charges | 65 | €2,678 | €2,409 | -€269 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €67,549 | €36,050 | -€31,499 | -46.6% |
| Income taxes | 67/77 | €15,248 | €9,719 | -€5,529 | -36.3% |
| Profit (loss) for the period | 9904 | €52,301 | €26,332 | -€25,970 | -49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,301 | €26,332 | -€25,970 | -49.7% |
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 10 October 2026 via checked.be.