XW: 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.
XW
Largest movements
- Cash +€16,721
up €16,721 (+31.0%), from €54,025 to €70,746
mainly Net result for the year (+€31,029) and Receivables within one year (+€13,800)
- Receivables within one year -€13,800
down €13,800 (-31.6%), from €43,692 to €29,892
of which Trade receivables: -€22,159
- Tangible fixed assets -€5,507
down €5,507 (-91.5%), from €6,018 to €512
- Trade debts -€37,046
down €37,046 (-99.6%), from €37,182 to €135
- Profit (loss) carried forward +€31,029
up €31,029 (+68.4%), from €45,349 to €76,378
- Tax, wage and social debts +€9,208
up €9,208 (+67.2%), from €13,704 to €22,911
- Current portion of long-term debt -€5,741
down €5,741 (-100.0%), from €5,741 to €0
- Gross operating margin -€5,424
down €5,424 (-10.7%), from €50,895 to €45,471
- Depreciation -€5,033
down €5,033 (-47.8%), from €10,540 to €5,507
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 | €104,975 | €102,425 | -€2,550 | -2.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,018 | €512 | -€5,507 | -91.5% |
| Tangible fixed assets | 22/27 | €6,018 | €512 | -€5,507 | -91.5% |
| Furniture and vehicles | 24 | €6,018 | €512 | -€5,507 | -91.5% |
| Current assets | 29/58 | €98,957 | €101,913 | +€2,956 | +3.0% |
| Amounts receivable within one year | 40/41 | €43,692 | €29,892 | -€13,800 | -31.6% |
| Trade receivables | 40 | €31,234 | €9,075 | -€22,159 | -70.9% |
| Other amounts receivable | 41 | €12,458 | €20,817 | +€8,359 | +67.1% |
| Cash at bank and in hand | 54/58 | €54,025 | €70,746 | +€16,721 | +31.0% |
| Deferred charges and accrued income | 490/1 | €1,240 | €1,275 | +€35 | +2.9% |
| Total equity and liabilities | 10/49 | €104,975 | €102,425 | -€2,550 | -2.4% |
| Equity | 10/15 | €48,349 | €79,378 | +€31,029 | +64.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,349 | €76,378 | +€31,029 | +68.4% |
| Amounts payable | 17/49 | €56,626 | €23,047 | -€33,579 | -59.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €56,626 | €23,047 | -€33,579 | -59.3% |
| Current portion of amounts payable after more than one year | 42 | €5,741 | €0 | -€5,741 | -100.0% |
| Trade debts | 44 | €37,182 | €135 | -€37,046 | -99.6% |
| Suppliers | 440/4 | €37,182 | €135 | -€37,046 | -99.6% |
| Taxes, remuneration and social security | 45 | €13,704 | €22,911 | +€9,208 | +67.2% |
| Taxes | 450/3 | €13,704 | €22,911 | +€9,208 | +67.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,540 | €5,507 | -€5,033 | -47.8% |
| Other operating charges | 640/8 | €521 | €533 | +€12 | +2.4% |
| Gross operating margin | 9900 | €50,895 | €45,471 | -€5,424 | -10.7% |
| Operating profit (loss) | 9901 | €39,835 | €39,431 | -€403 | -1.0% |
| Financial income | 75/76B | €481 | €961 | +€480 | +99.7% |
| Recurring financial income | 75 | €481 | €961 | +€480 | +99.7% |
| Financial charges | 65/66B | €799 | €380 | -€419 | -52.4% |
| Recurring financial charges | 65 | €799 | €380 | -€419 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €39,517 | €40,012 | +€495 | +1.3% |
| Income taxes | 67/77 | €9,353 | €8,983 | -€370 | -4.0% |
| Profit (loss) for the period | 9904 | €30,164 | €31,029 | +€865 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,164 | €31,029 | +€865 | +2.9% |
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 30 September 2026 via checked.be.