XSYSYS
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 07-10-2026 at the NBB all 47 filings
Equity
€23,616▼ 36.0%
2025 · €36,874
Total assets
€1.0m▲ 75.8%
2025 · €585,935
Net result
-€13,258▼ 176%
2025 · -€4,805
Working capital
-€103,987
2025 · €443,426
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€8,683
▼ 5.0%
2026
20192026
Net result
-€13,258
▼ 176%
2026
20192026
Equity
€23,616
▼ 36.0%
2026
20192026
Total assets
€1.0m
▲ 75.8%
2026
20192026
Debt
€1.0m
▲ 83.3%
2026
20192026
Working capital
-€103,987
2026
20192026
Solvency
2.3%
▼ 4.0pp
2026
20192026
Current ratio
0.84
▼ 3.28
2026
20192026
Return on assets (ROA)
-1.3%
▼ 0.5pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.007m-€0.007m▲ 0.9%€0.004m▼ 37.3%-€0.002m-€0.01m▼ 351%-€0.01m▼ 10.0%-€0.008m▲ 29.3%-€0.009m▼ 5.0%
Net result€159-€0.001m▲ 444%€79within the sector's middle half▼ 90.9%-€0.006mbelow the sector's middle half-€0.01mbelow the sector's middle half▼ 111%-€0.02mbelow the sector's middle half▼ 19.2%-€0.005mbelow the sector's middle half▲ 68.8%-€0.01m▼ 176%
Equity€0.08m-€0.08m▲ 1.0%€0.08mwithin the sector's middle half▲ 0.1%€0.08mwithin the sector's middle half▼ 7.3%-€0.01mbelow the sector's middle half€0.04mwithin the sector's middle half€0.04mwithin the sector's middle half▼ 11.5%€0.02m▼ 36.0%
Total assets€0.9m-€0.9m▼ 6.2%€0.8mabove the sector's middle half▼ 4.6%€0.6mabove the sector's middle half▼ 22.6%€0.6mabove the sector's middle half▼ 13.6%€0.6mabove the sector's middle half▲ 4.4%€0.6mabove the sector's middle half▲ 0.6%€1.0m▲ 75.8%
Debt€0.9m-€0.8m▼ 7.0%€0.8m▼ 5.1%€0.6m▼ 24.3%€0.6m▲ 0.4%€0.5m▼ 5.3%€0.5m▲ 1.5%€1.0m▲ 83.3%
Working capital€0.9m-€0.8m▼ 11.6%€0.7mabove the sector's middle half▼ 5.4%€0.6mabove the sector's middle half▼ 24.6%€0.5mabove the sector's middle half▼ 13.9%€0.5mabove the sector's middle half▲ 3.0%€0.4mabove the sector's middle half▼ 9.4%-€0.1m
Solvency8.8%-9.5%▲ 0.7pp10.0%within the sector's middle half▲ 0.5pp12.0%within the sector's middle half▲ 2.0pp-2.3%below the sector's middle half▼ 14.3pp7.2%within the sector's middle half▲ 9.5pp6.3%below the sector's middle half▼ 0.9pp2.3%▼ 4.0pp
Current ratio17.9416.48above the sector's middle half▼ 1.4614.91above the sector's middle half▼ 1.576.74above the sector's middle half▼ 8.166.26above the sector's middle half▼ 0.494.11above the sector's middle half▼ 2.140.84▼ 3.28
Return on assets (ROA)0.0%-0.1%▲ 0.1pp0.0%within the sector's middle half▼ 0.1pp-0.9%within the sector's middle half▼ 1.0pp-2.3%within the sector's middle half▼ 1.4pp-2.6%within the sector's middle half▼ 0.3pp-0.8%within the sector's middle half▲ 1.8pp-1.3%▼ 0.5pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €8,683, larger than the loss of €8,273 in 2025.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.0m
Fixed assets
€500,159
Current assets
€529,829
Equity and liabilities €1.0m
Equity
€23,616 ▼ 36.0%
Debt
€1.0m ▲ 83.3%
Debt's share of the balance-sheet total rises from 93.7% to 97.7%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
42.61▲
2025 · 14.89
ROE
-56.1%▼
2025 · -13.0%
Debt ≤ 1 year
€633,816▲
2025 · €142,509
Debt > 1 year
€372,556▼
2025 · €406,552
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €500,159 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €111 | €259 | €179 | €190 | €195 | ▲ 2.7% |
| Gross operating margin9900 | €6,816 | €6,878 | €4,356 | -€2,251 | -€10,382 | -€11,523 | -€8,083 | -€8,488 | ▼ 5.0% |
| Operating profit (loss)9901 | €6,711 | €6,771 | €4,247 | -€2,362 | -€10,641 | -€11,701 | -€8,273 | -€8,683 | ▼ 5.0% |
| Financial income75/76B | - | - | - | €8,900 | €8,172 | €5,711 | €12,259 | €5,291 | ▼ 56.8% |
| Recurring financial income75 | €9,684 | €9,684 | €9,472 | €8,900 | €8,172 | €0 | €1 | €5,291 | ▲ 8,534× |
| Non-recurring financial income76B | - | - | - | - | €8,172 | €5,711 | €12,258 | - | - |
| Financial charges65/66B | - | - | - | €12,670 | €10,451 | €9,411 | €8,791 | €9,866 | ▲ 12.2% |
| Recurring financial charges65 | €16,194 | €15,200 | €13,613 | €12,670 | €10,451 | €9,411 | €8,791 | €9,866 | ▲ 12.2% |
| Profit (loss) for the period before taxes9903 | €200 | €1,256 | €106 | -€6,132 | -€12,920 | -€15,401 | -€4,805 | -€13,258 | ▼ 176% |
| Income taxes67/77 | €42 | €393 | €27 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €159 | €863 | €79 | -€6,132 | -€12,920 | -€15,401 | -€4,805 | -€13,258 | ▼ 176% |
| Profit (loss) for the period to be appropriated9905 | €159 | €863 | €79 | -€6,132 | -€12,920 | -€15,401 | -€4,805 | -€13,258 | ▼ 176% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.9m | €0.9m | €0.8m | €0.6m | €0.6m | €0.6m | €0.6m | €1.0m | ▲ 75.8% |
| Fixed assets21/28 | €0.05m | €0.05m | €0.05m | €0.05m | - | - | - | €0.5m | - |
| Financial fixed assets28 | €0.05m | €0.05m | €0.05m | €0.05m | - | - | - | €0.5m | - |
| Current assets29/58 | €0.9m | €0.8m | €0.8m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 9.6% |
| Amounts receivable after more than one year29 | - | - | - | €0.4m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.4m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.3m | €0.03m | €0.5m | €0.6m | €0.6m | €0.5m | ▼ 10.5% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.5m | €0.6m | €0.6m | €0.5m | ▼ 10.5% |
| Cash at bank and in hand54/58 | €0.004m | €0.03m | €0.01m | €0.1m | €0.03m | €0.01m | €0.01m | €0.02m | ▲ 31.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €369 | €389 | €369 | €406 | ▲ 10.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.9m | €0.9m | €0.8m | €0.6m | €0.6m | €0.6m | €0.6m | €1.0m | ▲ 75.8% |
| Equity10/15 | €0.08m | €0.08m | €0.08m | €0.08m | -€0.01m | €0.04m | €0.04m | €0.02m | ▼ 36.0% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | - | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | - | - | - | - | - |
| Issued capital100 | - | - | - | €0.07m | - | - | - | - | - |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.007m | - | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €0.007m | - | - | - | - | - |
| Legal reserve130 | - | - | - | €0.007m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €299 | - | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | - | -€0.01m | -€0.03m | -€0.03m | -€0.05m | ▼ 40.0% |
| Amounts payable17/49 | €0.9m | €0.8m | €0.8m | €0.6m | €0.6m | €0.5m | €0.5m | €1.0m | ▲ 83.3% |
| Amounts payable after more than one year17 | €0.8m | €0.7m | €0.7m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 8.4% |
| Financial debts170/4 | - | - | - | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 8.4% |
| Amounts payable within one year42/48 | €0.002m | €0.05m | €0.05m | €0.04m | €0.08m | €0.09m | €0.1m | €0.6m | ▲ 345% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 1.8% |
| Trade debts44 | €0.001m | €0.002m | €0.002m | €0.001m | €130 | €131 | - | - | - |
| Suppliers440/4 | - | - | - | €0.001m | €130 | €131 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €63 | - | - | - | - |
| Taxes450/3 | - | - | - | - | €63 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €0.04m | €0.05m | €0.1m | €0.6m | ▲ 484% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | - | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €159 | €863 | €79 | -€6,132 | -€12,920 | -€15,401 | -€4,805 | -€13,258 | ▼ 176% |
| Operating cash flow (approximation) | €159 | €863 | €79 | -€6,132 | -€12,920 | -€15,401 | -€4,805 | -€13,258 | ▼ 176% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €448 | - | - | - | - | - |
| Change in cash | - | €28,906 | -€22,314 | €112,991 | -€95,756 | -€16,370 | €1,876 | €4,098 | ▲ 118% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,104 companies had the same profile as XSYSYS has now. Two years later, 94.3% were still going and 1.8% had gone bankrupt.
- Small
- 20 years or older
- solvency under 10%
- a small loss
94.3%
was still going
3.5%
stopped otherwise
1.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of XSYSYS itself is lower: 0.2% within 12 months. It rests on far more data about XSYSYS than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,104 companies, not a prediction for XSYSYS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 07-10-2026 | 2026-00550207 | |
| 31-03-2025 | micro format | 26-09-2025 | 2025-00511752 | |
| 31-03-2024 | micro format | 22-10-2024 | 2024-00511837 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00497134 | |
| 31-03-2022 | micro format | 31-10-2022 | 2022-20485819 | |
| 31-03-2021 | micro format | 29-10-2021 | 2021-76500021 | |
| 31-03-2020 | micro format | 23-10-2020 | 2020-64300237 | |
| 31-03-2019 | micro format | 29-11-2019 | 2019-74700389 | |
| 31-03-2018 | abbreviated format | 29-11-2018 | 2018-73600219 | |
| 31-03-2017 | abbreviated format | 30-06-2017 | 2017-25900409 |