Xia: 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.
Xia
Largest movements
- Cash -€614,653
down €614,653 (-80.9%), from €759,619 to €144,966
mainly Receivables after one year (-€216,894) and Investment in fixed assets (net) (-€151,816)
- Receivables after one year +€216,894
up €216,894 (+26.4%), from €820,757 to €1.0m
- Financial fixed assets +€117,003
up €117,003 (+3.5%), from €3.4m to €3.5m
- Current investments +€95,276
up €95,276 (+18.7%), from €510,567 to €605,844
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€532,223
down €532,223 (-89.9%), from €591,902 to €59,678
- Gross operating margin -€451,453
down €451,453, from €356,743 to -€94,710
- Taxes -€235,366
down €235,366 (-98.0%), from €240,228 to €4,862
- Financial charges -€20,751
down €20,751 (-96.6%), from €21,478 to €727
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 | €5,698,988 | €5,585,840 | -€113,149 | -2.0% |
| Fixed assets | 21/28 | €3,401,604 | €3,543,884 | +€142,280 | +4.2% |
| Tangible fixed assets | 22/27 | €47,277 | €72,554 | +€25,277 | +53.5% |
| Plant, machinery and equipment | 23 | €1,215 | €25,063 | +€23,847 | +1962.2% |
| Furniture and vehicles | 24 | €12,467 | €11,830 | -€637 | -5.1% |
| Other tangible fixed assets | 26 | €33,594 | €35,661 | +€2,066 | +6.2% |
| Financial fixed assets | 28 | €3,354,327 | €3,471,331 | +€117,003 | +3.5% |
| Current assets | 29/58 | €2,297,384 | €2,041,955 | -€255,429 | -11.1% |
| Amounts receivable after more than one year | 29 | €820,757 | €1,037,651 | +€216,894 | +26.4% |
| Other amounts receivable | 291 | €820,757 | €1,037,651 | +€216,894 | +26.4% |
| Amounts receivable within one year | 40/41 | €205,998 | €250,441 | +€44,443 | +21.6% |
| Trade receivables | 40 | €45,000 | €5,486 | -€39,514 | -87.8% |
| Other amounts receivable | 41 | €160,998 | €244,955 | +€83,957 | +52.1% |
| Current investments | 50/53 | €510,567 | €605,844 | +€95,276 | +18.7% |
| Cash at bank and in hand | 54/58 | €759,619 | €144,966 | -€614,653 | -80.9% |
| Deferred charges and accrued income | 490/1 | €443 | €3,053 | +€2,610 | +588.9% |
| Total equity and liabilities | 10/49 | €5,698,988 | €5,585,840 | -€113,149 | -2.0% |
| Equity | 10/15 | €5,393,567 | €5,341,809 | -€51,758 | -1.0% |
| Contributions | 10/11 | €295,000 | €295,000 | = | 0.0% |
| Reserves | 13 | €5,098,567 | €5,046,809 | -€51,758 | -1.0% |
| Tax-exempt reserves | 132 | €23,604 | €23,604 | = | 0.0% |
| Distributable reserves | 133 | €5,074,964 | €5,023,205 | -€51,758 | -1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €305,421 | €244,030 | -€61,391 | -20.1% |
| Amounts payable within one year | 42/48 | €305,421 | €243,915 | -€61,506 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €74,460 | €76,825 | +€2,364 | +3.2% |
| Suppliers | 440/4 | €74,460 | €76,825 | +€2,364 | +3.2% |
| Taxes, remuneration and social security | 45 | €180,612 | €166,001 | -€14,611 | -8.1% |
| Taxes | 450/3 | €180,612 | €166,001 | -€14,611 | -8.1% |
| Other amounts payable | 47/48 | €50,349 | €1,090 | -€49,259 | -97.8% |
| Accrued charges and deferred income | 492/3 | €0 | €115 | +€115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,178 | €9,536 | +€3,358 | +54.3% |
| Other operating charges | 640/8 | €1,596 | €1,602 | +€5 | +0.3% |
| Gross operating margin | 9900 | €356,743 | -€94,710 | -€451,453 | |
| Operating profit (loss) | 9901 | €348,969 | -€105,847 | -€454,816 | |
| Financial income | 75/76B | €591,902 | €59,678 | -€532,223 | -89.9% |
| Recurring financial income | 75 | €591,902 | €59,678 | -€532,223 | -89.9% |
| Financial charges | 65/66B | €21,478 | €727 | -€20,751 | -96.6% |
| Recurring financial charges | 65 | €21,478 | €727 | -€20,751 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | €919,392 | -€46,896 | -€966,288 | |
| Income taxes | 67/77 | €240,228 | €4,862 | -€235,366 | -98.0% |
| Profit (loss) for the period | 9904 | €679,164 | -€51,758 | -€730,922 | |
| Profit (loss) for the period to be appropriated | 9905 | €679,164 | -€51,758 | -€730,922 |
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 3 October 2026 via checked.be.