XSES: 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.
XSES
Largest movements
- Tangible fixed assets -€57,750
down €57,750 (-8.0%), from €722,520 to €664,770
of which Land and buildings: -€32,620
- Cash +€54,414
up €54,414 (+146.9%), from €37,051 to €91,465
mainly Net result for the year (+€102,297) and Depreciation (+€57,750)
- Receivables within one year +€25,875
up €25,875 (+20.1%), from €128,964 to €154,839
of which Trade receivables: +€30,855
- Current investments -€19,756
down €19,756 (-27.7%), from €71,228 to €51,473
- Debts after one year -€100,000
down €100,000 (-46.5%), from €215,000 to €115,000
- Other debts +€56,589
up €56,589 (+487.1%), from €11,616 to €68,205
- Reserves +€43,296
up €43,296 (+6.6%), from €657,989 to €701,285
of which Distributable reserves: +€43,296
- Gross operating margin +€11,091
up €11,091 (+5.4%), from €206,955 to €218,046
- Financial charges -€6,456
down €6,456 (-36.3%), from €17,802 to €11,347
- Other operating charges -€3,192
down €3,192 (-40.3%), from €7,919 to €4,727
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 | €964,189 | €967,158 | +€2,968 | +0.3% |
| Fixed assets | 21/28 | €722,520 | €664,770 | -€57,750 | -8.0% |
| Tangible fixed assets | 22/27 | €722,520 | €664,770 | -€57,750 | -8.0% |
| Land and buildings | 22 | €625,703 | €593,084 | -€32,620 | -5.2% |
| Plant, machinery and equipment | 23 | €2,556 | €1,916 | -€640 | -25.1% |
| Furniture and vehicles | 24 | €94,261 | €69,771 | -€24,490 | -26.0% |
| Current assets | 29/58 | €241,669 | €302,388 | +€60,718 | +25.1% |
| Amounts receivable within one year | 40/41 | €128,964 | €154,839 | +€25,875 | +20.1% |
| Trade receivables | 40 | €108,658 | €139,513 | +€30,855 | +28.4% |
| Other amounts receivable | 41 | €20,306 | €15,326 | -€4,980 | -24.5% |
| Current investments | 50/53 | €71,228 | €51,473 | -€19,756 | -27.7% |
| Cash at bank and in hand | 54/58 | €37,051 | €91,465 | +€54,414 | +146.9% |
| Deferred charges and accrued income | 490/1 | €4,426 | €4,611 | +€185 | +4.2% |
| Total equity and liabilities | 10/49 | €964,189 | €967,158 | +€2,968 | +0.3% |
| Equity | 10/15 | €677,989 | €721,285 | +€43,296 | +6.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €657,989 | €701,285 | +€43,296 | +6.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €655,989 | €699,285 | +€43,296 | +6.6% |
| Amounts payable | 17/49 | €286,201 | €245,873 | -€40,328 | -14.1% |
| Amounts payable after more than one year | 17 | €215,000 | €115,000 | -€100,000 | -46.5% |
| Other amounts payable | 178/9 | €215,000 | €115,000 | -€100,000 | -46.5% |
| Amounts payable within one year | 42/48 | €53,707 | €119,780 | +€66,073 | +123.0% |
| Trade debts | 44 | €765 | €6,212 | +€5,447 | +712.0% |
| Suppliers | 440/4 | €765 | €6,212 | +€5,447 | +712.0% |
| Taxes, remuneration and social security | 45 | €41,326 | €45,362 | +€4,037 | +9.8% |
| Taxes | 450/3 | €41,326 | €45,362 | +€4,037 | +9.8% |
| Other amounts payable | 47/48 | €11,616 | €68,205 | +€56,589 | +487.1% |
| Accrued charges and deferred income | 492/3 | €17,494 | €11,093 | -€6,400 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,666 | €57,750 | +€2,084 | +3.7% |
| Other operating charges | 640/8 | €7,919 | €4,727 | -€3,192 | -40.3% |
| Gross operating margin | 9900 | €206,955 | €218,046 | +€11,091 | +5.4% |
| Operating profit (loss) | 9901 | €143,370 | €155,569 | +€12,199 | +8.5% |
| Financial income | 75/76B | €216 | €250 | +€34 | +15.8% |
| Recurring financial income | 75 | €216 | €250 | +€34 | +15.8% |
| Financial charges | 65/66B | €17,802 | €11,347 | -€6,456 | -36.3% |
| Recurring financial charges | 65 | €17,802 | €11,347 | -€6,456 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €125,783 | €144,472 | +€18,688 | +14.9% |
| Income taxes | 67/77 | €43,491 | €42,175 | -€1,315 | -3.0% |
| Profit (loss) for the period | 9904 | €82,293 | €102,297 | +€20,004 | +24.3% |
| Transfer from tax-exempt reserves | 789 | €85,440 | - | -€85,440 | |
| Profit (loss) for the period to be appropriated | 9905 | €167,733 | €102,297 | -€65,436 | -39.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.