Xsi: 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.
Xsi
Largest movements
- Receivables within one year +€23,644
up €23,644 (+51.7%), from €45,733 to €69,376
of which Other amounts receivable: +€16,742
- Cash -€9,185
down €9,185 (-100.0%), from €9,186 to €1
mainly Receivables within one year (-€23,644) and Debts after one year (-€838)
- Deferred charges and accrued income -€1,694
down €1,694 (-31.8%), from €5,333 to €3,639
- Tangible fixed assets -€1,184
down €1,184 (-40.6%), from €2,916 to €1,731
- Trade debts +€4,535
up €4,535 (+108%), from €4,205 to €8,740
- Tax, wage and social debts +€3,664
up €3,664 (+24.8%), from €14,778 to €18,442
- Short-term financial debts +€3,199
new in 2025: €3,199
- Reserves +€1,250
up €1,250 (+67.2%), from €1,860 to €3,110
- Debts after one year -€838
down €838 (-26.4%), from €3,173 to €2,335
- Gross operating margin +€6,566
up €6,566 (+130%), from €5,062 to €11,629
- Taxes +€3,193
up €3,193 (+1,585%), from €201 to €3,395
- Financial charges +€1,804
up €1,804 (+78.8%), from €2,289 to €4,093
- Other operating charges +€823
up €823 (+61.0%), from €1,348 to €2,171
- Financial income +€355
up €355 (+323%), from €110 to €465
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 | €63,167 | €74,748 | +€11,581 | +18.3% |
| Fixed assets | 21/28 | €2,916 | €1,731 | -€1,184 | -40.6% |
| Tangible fixed assets | 22/27 | €2,916 | €1,731 | -€1,184 | -40.6% |
| Furniture and vehicles | 24 | €2,916 | €1,731 | -€1,184 | -40.6% |
| Current assets | 29/58 | €60,251 | €73,016 | +€12,765 | +21.2% |
| Amounts receivable within one year | 40/41 | €45,733 | €69,376 | +€23,644 | +51.7% |
| Trade receivables | 40 | €45,733 | €52,635 | +€6,902 | +15.1% |
| Other amounts receivable | 41 | - | €16,742 | +€16,742 | |
| Cash at bank and in hand | 54/58 | €9,186 | €1 | -€9,185 | -100.0% |
| Deferred charges and accrued income | 490/1 | €5,333 | €3,639 | -€1,694 | -31.8% |
| Total equity and liabilities | 10/49 | €63,167 | €74,748 | +€11,581 | +18.3% |
| Equity | 10/15 | €39,943 | €41,195 | +€1,252 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €3,110 | +€1,250 | +67.2% |
| Distributable reserves | 133 | €1,860 | €3,110 | +€1,250 | +67.2% |
| Profit (loss) carried forward | 14 | €19,483 | €19,485 | +€2 | 0.0% |
| Amounts payable | 17/49 | €23,224 | €33,553 | +€10,329 | +44.5% |
| Amounts payable after more than one year | 17 | €3,173 | €2,335 | -€838 | -26.4% |
| Financial debts | 170/4 | €3,173 | €2,335 | -€838 | -26.4% |
| Amounts payable within one year | 42/48 | €20,051 | €31,218 | +€11,167 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | €1,039 | €838 | -€202 | -19.4% |
| Financial debts | 43 | - | €3,199 | +€3,199 | |
| Credit institutions | 430/8 | - | €3,199 | +€3,199 | |
| Trade debts | 44 | €4,205 | €8,740 | +€4,535 | +108% |
| Suppliers | 440/4 | €4,205 | €8,740 | +€4,535 | +108% |
| Taxes, remuneration and social security | 45 | €14,778 | €18,442 | +€3,664 | +24.8% |
| Taxes | 450/3 | €14,778 | €18,442 | +€3,664 | +24.8% |
| Other amounts payable | 47/48 | €29 | - | -€29 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,245 | €1,184 | -€61 | -4.9% |
| Other operating charges | 640/8 | €1,348 | €2,171 | +€823 | +61.0% |
| Gross operating margin | 9900 | €5,062 | €11,629 | +€6,566 | +130% |
| Operating profit (loss) | 9901 | €2,469 | €8,273 | +€5,805 | +235% |
| Financial income | 75/76B | €110 | €465 | +€355 | +323% |
| Recurring financial income | 75 | €110 | €465 | +€355 | +323% |
| Financial charges | 65/66B | €2,289 | €4,093 | +€1,804 | +78.8% |
| Recurring financial charges | 65 | €2,289 | €4,093 | +€1,804 | +78.8% |
| Profit (loss) for the period before taxes | 9903 | €290 | €4,646 | +€4,356 | +1,502% |
| Income taxes | 67/77 | €201 | €3,395 | +€3,193 | +1,585% |
| Profit (loss) for the period | 9904 | €89 | €1,252 | +€1,163 | +1,314% |
| Profit (loss) for the period to be appropriated | 9905 | €89 | €1,252 | +€1,163 | +1,314% |
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 18 October 2026 via checked.be.