XVM MANAGEMENT: 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.
XVM MANAGEMENT
Largest movements
- Cash +€110,921
up €110,921 (+191%), from €58,019 to €168,940
mainly Net result for the year (+€221,134) and Other debts (+€68,039)
- Receivables within one year -€55,136
down €55,136 (-99.9%), from €55,168 to €33
of which Trade receivables: -€55,136
- Debts after one year -€172,621
down €172,621 (-29.3%), from €589,590 to €416,969
- Profit (loss) carried forward +€131,134
up €131,134 (+22.9%), from €572,527 to €703,661
- Other debts +€68,039
up €68,039 (+42.5%), from €159,947 to €227,986
- Financial income +€150,000
up €150,000 (+1,499,999,900%), from €0 to €150,000
- Gross operating margin +€21,186
up €21,186 (+20.9%), from €101,163 to €122,349
- Financial charges +€2,150
up €2,150 (+23.8%), from €9,054 to €11,204
- Taxes +€1,737
up €1,737 (+7.8%), from €22,333 to €24,069
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 | €1,569,952 | €1,613,752 | +€43,800 | +2.8% |
| Fixed assets | 21/28 | €1,454,810 | €1,442,687 | -€12,123 | -0.8% |
| Tangible fixed assets | 22/27 | €172,225 | €160,102 | -€12,123 | -7.0% |
| Land and buildings | 22 | €170,677 | €157,931 | -€12,746 | -7.5% |
| Furniture and vehicles | 24 | €1,547 | €2,171 | +€623 | +40.3% |
| Financial fixed assets | 28 | €1,282,585 | €1,282,585 | = | 0.0% |
| Current assets | 29/58 | €115,142 | €171,065 | +€55,923 | +48.6% |
| Amounts receivable within one year | 40/41 | €55,168 | €33 | -€55,136 | -99.9% |
| Trade receivables | 40 | €55,136 | - | -€55,136 | |
| Other amounts receivable | 41 | €33 | €33 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,019 | €168,940 | +€110,921 | +191% |
| Deferred charges and accrued income | 490/1 | €1,955 | €2,093 | +€137 | +7.0% |
| Total equity and liabilities | 10/49 | €1,569,952 | €1,613,752 | +€43,800 | +2.8% |
| Equity | 10/15 | €737,527 | €868,661 | +€131,134 | +17.8% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €572,527 | €703,661 | +€131,134 | +22.9% |
| Amounts payable | 17/49 | €832,425 | €745,090 | -€87,334 | -10.5% |
| Amounts payable after more than one year | 17 | €589,590 | €416,969 | -€172,621 | -29.3% |
| Financial debts | 170/4 | €589,590 | €416,969 | -€172,621 | -29.3% |
| Amounts payable within one year | 42/48 | €240,824 | €319,031 | +€78,207 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €22,358 | €22,621 | +€263 | +1.2% |
| Trade debts | 44 | - | €1,402 | +€1,402 | |
| Suppliers | 440/4 | - | €1,402 | +€1,402 | |
| Taxes, remuneration and social security | 45 | €58,519 | €67,023 | +€8,503 | +14.5% |
| Taxes | 450/3 | €58,519 | €67,023 | +€8,503 | +14.5% |
| Other amounts payable | 47/48 | €159,947 | €227,986 | +€68,039 | +42.5% |
| Accrued charges and deferred income | 492/3 | €2,011 | €9,090 | +€7,079 | +352% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,501 | €13,663 | +€162 | +1.2% |
| Other operating charges | 640/8 | €1,242 | €2,278 | +€1,036 | +83.4% |
| Gross operating margin | 9900 | €101,163 | €122,349 | +€21,186 | +20.9% |
| Operating profit (loss) | 9901 | €86,420 | €106,408 | +€19,988 | +23.1% |
| Financial income | 75/76B | €0 | €150,000 | +€150,000 | +1,499,999,900% |
| Recurring financial income | 75 | €0 | €150,000 | +€150,000 | +1,499,999,900% |
| Financial charges | 65/66B | €9,054 | €11,204 | +€2,150 | +23.8% |
| Recurring financial charges | 65 | €9,054 | €11,204 | +€2,150 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €77,366 | €245,204 | +€167,838 | +217% |
| Income taxes | 67/77 | €22,333 | €24,069 | +€1,737 | +7.8% |
| Profit (loss) for the period | 9904 | €55,033 | €221,134 | +€166,101 | +302% |
| Profit (loss) for the period to be appropriated | 9905 | €55,033 | €221,134 | +€166,101 | +302% |
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 15 October 2026 via checked.be.