AX Venture: 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.
AX Venture
Largest movements
- Receivables within one year +€39,722
up €39,722 (+372%), from €10,668 to €50,390
of which Trade receivables: +€39,722
- Tangible fixed assets -€36,879
down €36,879 (-4.8%), from €768,065 to €731,185
of which Land and buildings: -€37,521
- Trade debts -€30,430
down €30,430 (-95.2%), from €31,965 to €1,534
- Profit (loss) carried forward +€25,781
no longer reported in 2025 (was -€25,781)
- Debts after one year +€17,277
up €17,277 (+2.5%), from €696,456 to €713,732
of which Other amounts payable: +€37,242
- Gross operating margin +€47,576
up €47,576 (+101%), from €46,945 to €94,520
- Depreciation +€21,838
up €21,838 (+107%), from €20,382 to €42,220
- Financial charges +€4,941
up €4,941 (+23.2%), from €21,339 to €26,280
- Other operating charges +€2,055
up €2,055 (+47.1%), from €4,366 to €6,421
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 | €779,231 | €788,132 | +€8,901 | +1.1% |
| Fixed assets | 21/28 | €768,065 | €731,185 | -€36,879 | -4.8% |
| Tangible fixed assets | 22/27 | €768,065 | €731,185 | -€36,879 | -4.8% |
| Land and buildings | 22 | €760,266 | €722,745 | -€37,521 | -4.9% |
| Plant, machinery and equipment | 23 | €6,180 | €7,182 | +€1,002 | +16.2% |
| Furniture and vehicles | 24 | €1,619 | €1,259 | -€360 | -22.2% |
| Current assets | 29/58 | €11,166 | €56,947 | +€45,781 | +410% |
| Amounts receivable within one year | 40/41 | €10,668 | €50,390 | +€39,722 | +372% |
| Trade receivables | 40 | €6,668 | €46,390 | +€39,722 | +596% |
| Other amounts receivable | 41 | €4,000 | €4,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €498 | €6,557 | +€6,059 | +1,217% |
| Total equity and liabilities | 10/49 | €779,231 | €788,132 | +€8,901 | +1.1% |
| Equity | 10/15 | €15,993 | €35,599 | +€19,606 | +123% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €21,942 | €15,767 | -€6,175 | -28.1% |
| Distributable reserves | 133 | €21,942 | €15,767 | -€6,175 | -28.1% |
| Profit (loss) carried forward | 14 | -€25,781 | - | +€25,781 | |
| Amounts payable | 17/49 | €763,238 | €752,534 | -€10,705 | -1.4% |
| Amounts payable after more than one year | 17 | €696,456 | €713,732 | +€17,277 | +2.5% |
| Financial debts | 170/4 | €631,242 | €611,276 | -€19,965 | -3.2% |
| Other amounts payable | 178/9 | €65,214 | €102,456 | +€37,242 | +57.1% |
| Amounts payable within one year | 42/48 | €64,783 | €38,802 | -€25,981 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €32,761 | €34,965 | +€2,204 | +6.7% |
| Financial debts | 43 | - | €245 | +€245 | |
| Credit institutions | 430/8 | - | €245 | +€245 | |
| Trade debts | 44 | €31,965 | €1,534 | -€30,430 | -95.2% |
| Suppliers | 440/4 | €31,965 | €1,534 | -€30,430 | -95.2% |
| Taxes, remuneration and social security | 45 | €57 | €2,056 | +€2,000 | +3,530% |
| Taxes | 450/3 | €57 | €2,056 | +€2,000 | +3,530% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,382 | €42,220 | +€21,838 | +107% |
| Other operating charges | 640/8 | €4,366 | €6,421 | +€2,055 | +47.1% |
| Gross operating margin | 9900 | €46,945 | €94,520 | +€47,576 | +101% |
| Operating profit (loss) | 9901 | €22,197 | €45,880 | +€23,683 | +107% |
| Financial income | 75/76B | €1 | €6 | +€5 | +832% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +832% |
| Financial charges | 65/66B | €21,339 | €26,280 | +€4,941 | +23.2% |
| Recurring financial charges | 65 | €21,339 | €26,280 | +€4,941 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €858 | €19,606 | +€18,748 | +2,185% |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | €858 | €19,606 | +€18,748 | +2,185% |
| Profit (loss) for the period to be appropriated | 9905 | €858 | €19,606 | +€18,748 | +2,185% |
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 26 October 2026 via checked.be.