XVR: 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.
XVR
Largest movements
- Cash +€26,584
up €26,584 (+84.6%), from €31,407 to €57,992
mainly Net result for the year (+€60,165) and Other debts (+€30,000)
- Receivables within one year +€4,839
up €4,839 (+17.9%), from €26,983 to €31,822
of which Trade receivables: +€3,112
- Receivables after one year -€3,090
down €3,090 (-100.0%), from €3,090 to €0
- Other debts +€30,000
up €30,000 (+100.0%), from €30,000 to €60,000
- Trade debts -€3,056
down €3,056 (-43.8%), from €6,970 to €3,914
- Tax, wage and social debts +€1,642
up €1,642 (+19.5%), from €8,416 to €10,058
of which Taxes: +€1,606
- Gross operating margin +€35,883
up €35,883 (+75.6%), from €47,476 to €83,359
- Taxes +€8,592
up €8,592 (+88.5%), from €9,709 to €18,301
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 | €68,735 | €97,496 | +€28,760 | +41.8% |
| Fixed assets | 21/28 | €6,329 | €7,072 | +€743 | +11.7% |
| Tangible fixed assets | 22/27 | €6,329 | €7,072 | +€743 | +11.7% |
| Plant, machinery and equipment | 23 | €5,672 | €3,747 | -€1,925 | -33.9% |
| Furniture and vehicles | 24 | €657 | €3,325 | +€2,668 | +406.1% |
| Current assets | 29/58 | €62,407 | €90,424 | +€28,017 | +44.9% |
| Amounts receivable after more than one year | 29 | €3,090 | €0 | -€3,090 | -100.0% |
| Other amounts receivable | 291 | €3,090 | €0 | -€3,090 | -100.0% |
| Amounts receivable within one year | 40/41 | €26,983 | €31,822 | +€4,839 | +17.9% |
| Trade receivables | 40 | €19,538 | €22,650 | +€3,112 | +15.9% |
| Other amounts receivable | 41 | €7,445 | €9,172 | +€1,727 | +23.2% |
| Cash at bank and in hand | 54/58 | €31,407 | €57,992 | +€26,584 | +84.6% |
| Deferred charges and accrued income | 490/1 | €926 | €610 | -€316 | -34.2% |
| Total equity and liabilities | 10/49 | €68,735 | €97,496 | +€28,760 | +41.8% |
| Equity | 10/15 | €20,803 | €20,968 | +€165 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,203 | €2,368 | +€165 | +7.5% |
| Distributable reserves | 133 | €2,203 | €2,368 | +€165 | +7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,932 | €76,527 | +€28,595 | +59.7% |
| Amounts payable within one year | 42/48 | €47,932 | €76,527 | +€28,595 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | €2,546 | €2,556 | +€9 | +0.4% |
| Trade debts | 44 | €6,970 | €3,914 | -€3,056 | -43.8% |
| Suppliers | 440/4 | €6,970 | €3,914 | -€3,056 | -43.8% |
| Taxes, remuneration and social security | 45 | €8,416 | €10,058 | +€1,642 | +19.5% |
| Taxes | 450/3 | €5,984 | €7,591 | +€1,606 | +26.8% |
| Remuneration and social security | 454/9 | €2,432 | €2,468 | +€36 | +1.5% |
| Other amounts payable | 47/48 | €30,000 | €60,000 | +€30,000 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,509 | €3,082 | -€427 | -12.2% |
| Other operating charges | 640/8 | €651 | €1,331 | +€680 | +104.5% |
| Non-recurring operating charges | 66A | €1,345 | €0 | -€1,345 | -100.0% |
| Gross operating margin | 9900 | €47,476 | €83,359 | +€35,883 | +75.6% |
| Operating profit (loss) | 9901 | €41,970 | €78,946 | +€36,976 | +88.1% |
| Financial income | 75/76B | €180 | €0 | -€180 | -100.0% |
| Recurring financial income | 75 | €180 | €0 | -€180 | -100.0% |
| Financial charges | 65/66B | €771 | €480 | -€291 | -37.7% |
| Recurring financial charges | 65 | €771 | €480 | -€291 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €41,379 | €78,466 | +€37,086 | +89.6% |
| Income taxes | 67/77 | €9,709 | €18,301 | +€8,592 | +88.5% |
| Profit (loss) for the period | 9904 | €31,670 | €60,165 | +€28,495 | +90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,670 | €60,165 | +€28,495 | +90.0% |
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.