xelsia capital: 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.
xelsia capital
Largest movements
- Receivables after one year +€99,102
up €99,102 (+10.2%), from €972,317 to €1.1m
- Cash -€52,273
down €52,273 (-92.4%), from €56,600 to €4,328
mainly Receivables after one year (-€99,102) and Deferred charges and accrued income (-€30,415)
- Debts after one year +€69,043
up €69,043 (+8.8%), from €783,007 to €852,051
- Financial income +€30,769
up €30,769 (+51.9%), from €59,240 to €90,009
- Financial charges +€26,511
up €26,511 (+37.0%), from €71,599 to €98,110
- Other operating charges -€944
down €944 (-97.0%), from €973 to €29
- Gross operating margin +€597
up €597 (+7.7%), from -€7,708 to -€7,111
- Taxes +€115
up €115, from -€115 to €0
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 | €4,137,777 | €4,214,791 | +€77,014 | +1.9% |
| Fixed assets | 21/28 | €3,050,050 | €3,050,050 | = | 0.0% |
| Financial fixed assets | 28 | €3,050,050 | €3,050,050 | = | 0.0% |
| Current assets | 29/58 | €1,087,727 | €1,164,741 | +€77,014 | +7.1% |
| Amounts receivable after more than one year | 29 | €972,317 | €1,071,419 | +€99,102 | +10.2% |
| Other amounts receivable | 291 | €972,317 | €1,071,419 | +€99,102 | +10.2% |
| Amounts receivable within one year | 40/41 | €284 | €53 | -€231 | -81.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €284 | €53 | -€231 | -81.5% |
| Cash at bank and in hand | 54/58 | €56,600 | €4,328 | -€52,273 | -92.4% |
| Deferred charges and accrued income | 490/1 | €58,527 | €88,942 | +€30,415 | +52.0% |
| Total equity and liabilities | 10/49 | €4,137,777 | €4,214,791 | +€77,014 | +1.9% |
| Equity | 10/15 | €3,284,210 | €3,268,969 | -€15,241 | -0.5% |
| Contributions | 10/11 | €3,265,330 | €3,265,330 | = | 0.0% |
| Reserves | 13 | €18,100 | €3,100 | -€15,000 | -82.9% |
| Distributable reserves | 133 | €18,100 | €3,100 | -€15,000 | -82.9% |
| Profit (loss) carried forward | 14 | €780 | €539 | -€241 | -30.9% |
| Amounts payable | 17/49 | €853,567 | €945,822 | +€92,255 | +10.8% |
| Amounts payable after more than one year | 17 | €783,007 | €852,051 | +€69,043 | +8.8% |
| Financial debts | 170/4 | €783,007 | €852,051 | +€69,043 | +8.8% |
| Amounts payable within one year | 42/48 | €1,078 | €303 | -€775 | -71.9% |
| Trade debts | 44 | €1,078 | €303 | -€775 | -71.9% |
| Suppliers | 440/4 | €1,078 | €303 | -€775 | -71.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €69,482 | €93,469 | +€23,987 | +34.5% |
| Other operating charges | 640/8 | €973 | €29 | -€944 | -97.0% |
| Gross operating margin | 9900 | -€7,708 | -€7,111 | +€597 | +7.7% |
| Operating profit (loss) | 9901 | -€8,682 | -€7,140 | +€1,542 | +17.8% |
| Financial income | 75/76B | €59,240 | €90,009 | +€30,769 | +51.9% |
| Recurring financial income | 75 | €59,240 | €90,009 | +€30,769 | +51.9% |
| Financial charges | 65/66B | €71,599 | €98,110 | +€26,511 | +37.0% |
| Recurring financial charges | 65 | €71,599 | €98,110 | +€26,511 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | -€21,041 | -€15,241 | +€5,800 | +27.6% |
| Income taxes | 67/77 | -€115 | €0 | +€115 | |
| Profit (loss) for the period | 9904 | -€20,926 | -€15,241 | +€5,685 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,926 | -€15,241 | +€5,685 | +27.2% |
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 25 October 2026 via checked.be.