AXE AUTO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 25 filings
Turnover
€1.3m▼ 4.2%
2022 · €1.3m
EBIT margin
-5.0%▼ 5.9pp
2022 · 0.9%
Net result
€888
2024 · -€66,011
Working capital
€152,135▼ 3.9%
2024 · €158,317
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€13,512
2025
20182025
Net result
€888
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€131,659
▲ 0.7%
2025
highest quarter of the sector
20182025
Total assets
€240,527
▼ 4.9%
2025
middle half of the sector
20182025
Debt
€108,868
▼ 10.8%
2025
20182025
Working capital
€152,135
▼ 3.9%
2025
highest quarter of the sector
20182025
Solvency
54.7%
▲ 3.0pp
2025
middle half of the sector
20182025
Current ratio
2.72
▲ 0.05
2025
middle half of the sector
20182025
Return on assets (ROA)
0.4%
▲ 26.5pp
2025
middle half of the sector
20182025
Staff (FTE)
1.8
▲ 38.5%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.1m-€1.1m▲ 2.4%€1.2m▲ 12.4%€1.4m▲ 11.1%€1.3m▼ 5.1%€1.3m▼ 4.2%
Operating result€0.04m-€0.02m▼ 34.0%€0.02m▼ 3.7%€0.01m▼ 39.9%€0.01m▼ 18.3%-€0.06m-€0.06m▲ 8.7%€0.01m
Net result€0.03m-€0.01m▼ 48.2%€0.02mwithin the sector's middle half▲ 19.7%€0.006mwithin the sector's middle half▼ 61.6%€0.008mwithin the sector's middle half▲ 22.2%-€0.07mbelow the sector's middle half-€0.07mbelow the sector's middle half▼ 0.7%€0.001mwithin the sector's middle half
EBIT margin3.4%-2.2%▼ 1.2pp1.9%▼ 0.3pp1.0%▼ 0.9pp0.9%▼ 0.1pp-5.0%▼ 5.9pp
Equity€0.2m-€0.2m▲ 6.1%€0.2mwithin the sector's middle half▲ 6.9%€0.3mwithin the sector's middle half▲ 2.5%€0.3mwithin the sector's middle half▲ 3.0%€0.2mwithin the sector's middle half▼ 25.0%€0.1mwithin the sector's middle half▼ 33.5%€0.1mabove the sector's middle half▲ 0.7%
Total assets€0.3m-€0.3m▲ 2.7%€0.3mbelow the sector's middle half▲ 9.3%€0.3mbelow the sector's middle half▲ 1.0%€0.3mbelow the sector's middle half▼ 2.6%€0.3mbelow the sector's middle half▲ 1.0%€0.3mbelow the sector's middle half▼ 10.6%€0.2mwithin the sector's middle half▼ 4.9%
Debt€0.03m-€0.03m▼ 19.2%€0.04m▲ 29.6%€0.03m▼ 8.9%€0.02m▼ 46.1%€0.09m▲ 386%€0.1m▲ 41.7%€0.1m▼ 10.8%
Working capital€0.2m-€0.2m▲ 2.7%€0.2mwithin the sector's middle half▲ 5.5%€0.2mwithin the sector's middle half▲ 4.0%€0.3mwithin the sector's middle half▲ 4.7%€0.2mwithin the sector's middle half▼ 16.6%€0.2mwithin the sector's middle half▼ 27.3%€0.2mabove the sector's middle half▼ 3.9%
Solvency86.4%-89.3%▲ 2.9pp87.3%above the sector's middle half▼ 2.0pp88.6%above the sector's middle half▲ 1.3pp93.7%above the sector's middle half▲ 5.1pp69.6%above the sector's middle half▼ 24.1pp51.7%within the sector's middle half▼ 17.8pp54.7%within the sector's middle half▲ 3.0pp
Current ratio8.29-11.37▲ 3.088.34above the sector's middle half▼ 3.038.89above the sector's middle half▲ 0.5516.32above the sector's middle half▲ 7.434.34above the sector's middle half▼ 11.982.67above the sector's middle half▼ 1.672.72within the sector's middle half▲ 0.05
Return on assets (ROA)10.2%-5.2%▼ 5.1pp5.6%within the sector's middle half▲ 0.5pp2.1%within the sector's middle half▼ 3.5pp2.7%within the sector's middle half▲ 0.5pp-23.2%below the sector's middle half▼ 25.9pp-26.1%below the sector's middle half▼ 2.9pp0.4%within the sector's middle half▲ 26.5pp
Staff (FTE)2-2=1.5below the sector's middle half▼ 25.0%0.7below the sector's middle half▼ 53.3%0.9below the sector's middle half▲ 28.6%1below the sector's middle half▲ 11.1%1.3below the sector's middle half▲ 30.0%1.8▲ 38.5%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €13,512, after a loss of €57,635 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €240,527
Equity
€131,659 ▲ 0.7%
Debt
€108,868 ▼ 10.8%
Debt's share of the balance-sheet total falls from 48.3% to 45.3%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
2.19▼
2024 · 2.22
Debt to equity
0.83▼
2024 · 0.93
ROE
0.7%▲
2024 · -50.5%
Debt ≤ 1 year
€88,392▼
2024 · €94,553
Debt > 1 year
€18,266▼
2024 · €27,546
Income taxes
€3,033▲
2024 · €483
Staff costs
€61,587▲
2024 · €47,903
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 2 | 2 |
| full-time | 1 | 1 | 1 | 1 | - |
| part-time | - | - | - | 1 | 2 |
| in full-time equivalents | 1 | 1 | 1 | 1.8 | 1.6 |
| Average over the year, in full-time equivalents | 0.7 | 0.9 | 1 | 1.3 | 1.8 |
| On a permanent contract | 1 | - | - | 1 | 2 |
| Joined | 1 | 2 | - | 1 | 0 |
| Left | 1 | 2 | - | 3 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | €1.1m | €1.2m | €1.4m | €1.3m | €1.3m | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €0.002m | €20 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1.3m | €1.3m | €1.3m | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.02m | €0.03m | €0.03m | €0.05m | €0.06m | ▲ 28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.004m | €0.003m | €0.004m | €0.003m | €0.001m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.003m | €0.006m | €0.08m | €0.003m | ▼ 96.1% |
| Non-recurring operating charges66A | - | - | - | €0.002m | €0.002m | €0.002m | - | €0.03m | - |
| Gross operating margin9900 | €0.07m | €0.04m | €0.04m | €0.04m | €0.05m | -€0.02m | €0.07m | €0.1m | ▲ 61.0% |
| Operating profit (loss)9901 | €0.04m | €0.02m | €0.02m | €0.01m | €0.01m | -€0.06m | -€0.06m | €0.01m | - |
| Financial income75/76B | - | - | - | - | - | - | €0.003m | €54 | ▼ 98.2% |
| Recurring financial income75 | - | €58 | - | - | - | - | €0.003m | €54 | ▼ 98.2% |
| Financial charges65/66B | - | - | - | €0.002m | €0.002m | €0.002m | €0.01m | €0.01m | ▼ 10.7% |
| Recurring financial charges65 | €0.003m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.01m | €0.007m | ▼ 31.2% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €0.002m | - |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | -€0.07m | -€0.07m | €0.004m | - |
| Income taxes67/77 | €0.008m | €0.009m | €0.006m | €0.006m | €0.002m | - | €483 | €0.003m | ▲ 528% |
| Profit (loss) for the period9904 | €0.03m | €0.01m | €0.02m | €0.006m | €0.008m | -€0.07m | -€0.07m | €0.001m | - |
| Profit (loss) for the period to be appropriated9905 | €0.03m | €0.01m | €0.02m | €0.006m | €0.008m | -€0.07m | -€0.07m | €0.001m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €253,622 | €260,419 | €284,723 | €287,662 | €280,048 | €282,927 | €252,870 | €240,527 | ▼ 4.9% |
| Fixed assets21/28 | €1,862 | €11,200 | €12,160 | €6,620 | €1,880 | - | - | - | - |
| Tangible fixed assets22/27 | €1,862 | €11,200 | €12,160 | €6,620 | €1,880 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €6,620 | €1,880 | - | - | - | - |
| Current assets29/58 | €251,760 | €249,219 | €272,563 | €281,042 | €278,168 | €282,927 | €252,870 | €240,527 | ▼ 4.9% |
| Stocks and contracts in progress3 | €53,583 | €51,416 | €45,764 | €44,839 | €44,839 | €49,389 | €43,242 | €46,673 | ▲ 7.9% |
| Stocks30/36 | - | - | - | €44,839 | €44,839 | €49,389 | €43,242 | €46,673 | ▲ 7.9% |
| Amounts receivable within one year40/41 | €71,554 | €110,442 | €112,446 | €118,989 | €141,296 | €153,617 | €78,880 | €133,063 | ▲ 68.7% |
| Trade receivables40 | - | - | - | €84,202 | €78,801 | €90,514 | €21,577 | €1,620 | ▼ 92.5% |
| Other amounts receivable41 | - | - | - | €34,787 | €62,495 | €63,103 | €57,303 | €131,442 | ▲ 129% |
| Cash at bank and in hand54/58 | €125,619 | €85,310 | €111,568 | €115,257 | €69,481 | €72,608 | €130,656 | €60,094 | ▼ 54.0% |
| Deferred charges and accrued income490/1 | - | - | - | €1,957 | €22,552 | €7,314 | €92 | €697 | ▲ 657% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €253,622 | €260,419 | €284,723 | €287,662 | €280,048 | €282,927 | €252,870 | €240,527 | ▼ 4.9% |
| Equity10/15 | €219,173 | €232,587 | €248,645 | €254,808 | €262,340 | €196,781 | €130,770 | €131,659 | ▲ 0.7% |
| Contributions10/11 | €55,500 | €55,500 | €55,500 | €55,500 | €55,500 | €55,500 | €55,500 | €55,500 | = |
| Capital10 | - | - | - | €55,500 | €55,500 | €55,500 | - | - | - |
| Issued capital100 | - | - | - | €55,500 | €55,500 | €55,500 | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | - | €55,500 | - | - |
| Other1109/19 | - | - | - | - | - | - | €55,500 | - | - |
| Reserves13 | €5,550 | €5,550 | €5,550 | €5,550 | €5,550 | €5,550 | €5,550 | €5,550 | = |
| Non-distributable reserves130/1 | - | - | - | €5,550 | €5,550 | €5,550 | €5,550 | €5,550 | = |
| Legal reserve130 | - | - | - | €5,550 | €5,550 | €5,550 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €5,550 | €5,550 | = |
| Profit (loss) carried forward14 | €158,123 | €171,537 | €187,595 | €193,758 | €201,290 | €135,731 | €69,720 | €70,609 | ▲ 1.3% |
| Amounts payable17/49 | €34,449 | €27,831 | €36,078 | €32,854 | €17,709 | €86,146 | €122,100 | €108,868 | ▼ 10.8% |
| Amounts payable after more than one year17 | - | €4,782 | €2,752 | €571 | - | €20,335 | €27,546 | €18,266 | ▼ 33.7% |
| Financial debts170/4 | - | - | - | €571 | - | €20,335 | €27,546 | €18,266 | ▼ 33.7% |
| Amounts payable within one year42/48 | €30,367 | €21,922 | €32,696 | €31,616 | €17,041 | €65,199 | €94,553 | €88,392 | ▼ 6.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,182 | €2,571 | €15,338 | €9,634 | €11,347 | ▲ 17.8% |
| Financial debts43 | - | - | - | - | - | €14,049 | €11,780 | €10,377 | ▼ 11.9% |
| Credit institutions430/8 | - | - | - | - | - | €14,049 | €11,780 | €10,377 | ▼ 11.9% |
| Trade debts44 | €21,490 | €5,951 | €17,880 | €15,478 | €12,994 | €30,265 | €53,122 | €40,838 | ▼ 23.1% |
| Suppliers440/4 | - | - | - | €15,478 | €12,994 | €30,265 | €53,122 | €40,838 | ▼ 23.1% |
| Taxes, remuneration and social security45 | - | - | - | €13,956 | €1,477 | €5,547 | €12,022 | €17,392 | ▲ 44.7% |
| Taxes450/3 | - | - | - | €13,956 | €1,477 | €1,060 | €286 | €4,385 | ▲ 15× |
| Remuneration and social security454/9 | - | - | - | - | - | €4,487 | €11,735 | €13,007 | ▲ 10.8% |
| Other amounts payable47/48 | - | - | - | - | - | - | €7,995 | €8,439 | ▲ 5.5% |
| Accrued charges and deferred income492/3 | - | - | - | €668 | €668 | €612 | - | €2,210 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,916 | €13,414 | €16,057 | €6,163 | €7,532 | -€65,558 | -€66,011 | €888 | - |
| + Depreciation and write-downs630 | €3,519 | €2,962 | €3,740 | €2,840 | €940 | - | - | - | - |
| Operating cash flow (approximation) | €29,435 | €16,376 | €19,797 | €9,003 | €8,472 | -€65,558 | -€66,011 | €888 | - |
| Investment in fixed assets (approximation) | - | -€12,300 | -€4,700 | €2,700 | €3,800 | - | - | - | - |
| Change in cash | - | -€40,308 | €26,258 | €3,689 | -€45,776 | €3,127 | €58,048 | -€70,562 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as AXE AUTO has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AXE AUTO itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for AXE AUTO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00236781 | |
| 31-12-2024 | full format | 06-10-2025 | 2025-00533452 | |
| 31-12-2023 | full format | 04-02-2025 | 2025-00027935 | |
| 31-12-2022 | full format | 28-08-2023 | 2023-00406141 | |
| 31-12-2021 | full format | 30-09-2022 | 2022-20446063 | |
| 31-12-2020 | full format | 29-12-2021 | 2021-82000480 | |
| 31-12-2019 | full format | 30-11-2020 | 2020-73300581 | |
| 31-12-2018 | full format | 13-10-2019 | 2019-70400102 | |
| 31-12-2017 | full format | 29-09-2018 | 2018-67400141 | |
| 31-12-2016 | full format | 31-08-2017 | 2017-56800174 |