Xelsio: 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.
Xelsio
Largest movements
- Current investments +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Receivables within one year +€36,022
up €36,022 (+5,132%), from €702 to €36,724
of which Trade receivables: +€36,724
- Cash -€15,250
down €15,250 (-44.5%), from €34,279 to €19,028
mainly Contributions, distributions and other (-€219,740) and Current investments (-€50,000)
- Deferred charges and accrued income -€8,450
down €8,450 (-11.2%), from €75,689 to €67,239
- Tangible fixed assets -€2,454
down €2,454 (-51.6%), from €4,757 to €2,303
of which Furniture and vehicles: -€4,416
- Other debts +€196,030
new in 2025: €196,030
- Profit (loss) carried forward -€140,540
down €140,540 (-99.9%), from €140,740 to €200
- Tax, wage and social debts +€2,776
up €2,776 (+11.6%), from €23,831 to €26,607
- Financial charges -€26,093
down €26,093 (-99.8%), from €26,156 to €63
of which Non-recurring financial charges: -€26,000
- Financial income -€24,081
down €24,081 (-99.9%), from €24,101 to €19
- Gross operating margin +€18,262
up €18,262 (+21.5%), from €84,950 to €103,212
- Depreciation -€3,932
down €3,932 (-90.3%), from €4,352 to €420
- Other operating charges +€1,051
up €1,051 (+94.9%), from €1,107 to €2,158
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 | €165,427 | €225,294 | +€59,867 | +36.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €4,757 | €2,303 | -€2,454 | -51.6% |
| Tangible fixed assets | 22/27 | €4,757 | €2,303 | -€2,454 | -51.6% |
| Plant, machinery and equipment | 23 | €340 | €2,303 | +€1,963 | +577% |
| Furniture and vehicles | 24 | €4,416 | - | -€4,416 | |
| Current assets | 29/58 | €160,670 | €222,991 | +€62,321 | +38.8% |
| Amounts receivable within one year | 40/41 | €702 | €36,724 | +€36,022 | +5,132% |
| Trade receivables | 40 | - | €36,724 | +€36,724 | |
| Other amounts receivable | 41 | €702 | - | -€702 | |
| Current investments | 50/53 | €50,000 | €100,000 | +€50,000 | +100% |
| Cash at bank and in hand | 54/58 | €34,279 | €19,028 | -€15,250 | -44.5% |
| Deferred charges and accrued income | 490/1 | €75,689 | €67,239 | -€8,450 | -11.2% |
| Total equity and liabilities | 10/49 | €165,427 | €225,294 | +€59,867 | +36.2% |
| Equity | 10/15 | €141,240 | €700 | -€140,540 | -99.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,740 | €200 | -€140,540 | -99.9% |
| Amounts payable | 17/49 | €24,187 | €224,594 | +€200,407 | +829% |
| Amounts payable within one year | 42/48 | €24,094 | €224,497 | +€200,403 | +832% |
| Financial debts | 43 | €191 | €121 | -€70 | -36.6% |
| Credit institutions | 430/8 | €191 | €121 | -€70 | -36.6% |
| Trade debts | 44 | €72 | €1,739 | +€1,667 | +2,330% |
| Suppliers | 440/4 | €72 | €1,739 | +€1,667 | +2,330% |
| Taxes, remuneration and social security | 45 | €23,831 | €26,607 | +€2,776 | +11.6% |
| Taxes | 450/3 | €23,831 | €26,607 | +€2,776 | +11.6% |
| Other amounts payable | 47/48 | - | €196,030 | +€196,030 | |
| Accrued charges and deferred income | 492/3 | €92 | €97 | +€5 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,352 | €420 | -€3,932 | -90.3% |
| Other operating charges | 640/8 | €1,107 | €2,158 | +€1,051 | +94.9% |
| Gross operating margin | 9900 | €84,950 | €103,212 | +€18,262 | +21.5% |
| Operating profit (loss) | 9901 | €79,491 | €100,633 | +€21,143 | +26.6% |
| Financial income | 75/76B | €24,101 | €19 | -€24,081 | -99.9% |
| Recurring financial income | 75 | €24,101 | €19 | -€24,081 | -99.9% |
| Financial charges | 65/66B | €26,156 | €63 | -€26,093 | -99.8% |
| Recurring financial charges | 65 | €156 | €63 | -€93 | -59.7% |
| Non-recurring financial charges | 66B | €26,000 | - | -€26,000 | |
| Profit (loss) for the period before taxes | 9903 | €77,435 | €100,590 | +€23,155 | +29.9% |
| Income taxes | 67/77 | €22,159 | €21,390 | -€769 | -3.5% |
| Profit (loss) for the period | 9904 | €55,276 | €79,200 | +€23,924 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,276 | €79,200 | +€23,924 | +43.3% |
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 22 October 2026 via checked.be.