XX47: 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.
XX47
Largest movements
- Cash -€1.4m
down €1.4m (-98.1%), from €1.4m to €26,998
mainly Investment in fixed assets (net) (-€1.2m) and Debts after one year (-€247,286)
- Tangible fixed assets +€995,787
new in 2025: €995,787
- Debts after one year -€247,286
down €247,286 (-18.8%), from €1.3m to €1.1m
of which Financial debts: -€214,026
- Profit (loss) carried forward -€144,821
down €144,821 (-339.9%), from -€42,601 to -€187,423
- Depreciation +€157,539
new in 2025: €157,539
- Gross operating margin -€62,123
down €62,123 (-63.4%), from €97,910 to €35,787
- Financial income -€14,996
down €14,996 (-59.1%), from €25,367 to €10,370
- Other operating charges -€6,622
down €6,622 (-97.4%), from €6,800 to €178
- Financial charges -€1,715
down €1,715 (-4.9%), from €34,976 to €33,261
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 | €1,424,193 | €1,025,895 | -€398,297 | -28.0% |
| Fixed assets | 21/28 | - | €995,787 | +€995,787 | |
| Tangible fixed assets | 22/27 | - | €995,787 | +€995,787 | |
| Land and buildings | 22 | - | €995,787 | +€995,787 | |
| Current assets | 29/58 | €1,424,193 | €30,109 | -€1.4m | -97.9% |
| Amounts receivable within one year | 40/41 | €7,758 | €3,111 | -€4,647 | -59.9% |
| Trade receivables | 40 | €197 | - | -€197 | |
| Other amounts receivable | 41 | €7,561 | €3,111 | -€4,450 | -58.9% |
| Cash at bank and in hand | 54/58 | €1,416,435 | €26,998 | -€1.4m | -98.1% |
| Total equity and liabilities | 10/49 | €1,424,193 | €1,025,895 | -€398,297 | -28.0% |
| Equity | 10/15 | €63,500 | -€81,321 | -€144,821 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €6,101 | €6,101 | = | 0.0% |
| Distributable reserves | 133 | €6,101 | €6,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,601 | -€187,423 | -€144,821 | -339.9% |
| Amounts payable | 17/49 | €1,360,693 | €1,107,217 | -€253,476 | -18.6% |
| Amounts payable after more than one year | 17 | €1,315,678 | €1,068,392 | -€247,286 | -18.8% |
| Financial debts | 170/4 | €867,052 | €653,027 | -€214,026 | -24.7% |
| Other amounts payable | 178/9 | €448,626 | €415,365 | -€33,260 | -7.4% |
| Amounts payable within one year | 42/48 | €45,015 | €38,825 | -€6,190 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €44,692 | €36,173 | -€8,519 | -19.1% |
| Trade debts | 44 | €323 | €2,652 | +€2,329 | +719.9% |
| Suppliers | 440/4 | €323 | €2,652 | +€2,329 | +719.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €157,539 | +€157,539 | |
| Other operating charges | 640/8 | €6,800 | €178 | -€6,622 | -97.4% |
| Non-recurring operating charges | 66A | €124,102 | - | -€124,102 | |
| Gross operating margin | 9900 | €97,910 | €35,787 | -€62,123 | -63.4% |
| Operating profit (loss) | 9901 | -€32,992 | -€121,930 | -€88,938 | -269.6% |
| Financial income | 75/76B | €25,367 | €10,370 | -€14,996 | -59.1% |
| Recurring financial income | 75 | €25,367 | €10,370 | -€14,996 | -59.1% |
| Financial charges | 65/66B | €34,976 | €33,261 | -€1,715 | -4.9% |
| Recurring financial charges | 65 | €34,976 | €33,261 | -€1,715 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,601 | -€144,821 | -€102,220 | -239.9% |
| Profit (loss) for the period | 9904 | -€42,601 | -€144,821 | -€102,220 | -239.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,601 | -€144,821 | -€102,220 | -239.9% |
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 8 October 2026 via checked.be.