AXA - GLASS: 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.
What changed
AXA - GLASS
NACE 46.441, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €851,431+€694,726
Equity
€6.6m
2024 · €5.3m+€1.3m
Cash
€1.9m
2024 · €1.9m-€32,740
Balance sheet total
€7.9m
2024 · €6.3m+€1.5m
Largest movements
Assets
- Current investments +€1.0m
new in 2025: €1.0m
- Receivables within one year +€827,912
up €827,912 (+29.0%), from €2.9m to €3.7m
of which Trade receivables: +€926,559
- Stocks and contracts -€154,826
down €154,826 (-14.5%), from €1.1m to €915,702
- Deferred charges and accrued income -€95,137
down €95,137 (-89.0%), from €106,895 to €11,758
Equity and liabilities
- Reserves +€1.3m
up €1.3m (+24.4%), from €5.3m to €6.6m
of which Distributable reserves: +€884,712
- Trade debts +€257,194
up €257,194 (+38.2%), from €673,115 to €930,309
Income statement
- Goods and materials -€3.4m
down €3.4m (-13.9%), from €24.5m to €21.1m
of which Purchases: -€3.3m
- Turnover -€2.8m
down €2.8m (-10.4%), from €27.4m to €24.6m
- Write-downs -€654,448
down €654,448, from €53,224 to -€601,224
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.
Result 2024
€851,431
Turnover
-€2.8m
Other operating income
+€117
Goods and materials
+€3.4m
Services and other goods
-€36,895
Staff costs
-€60,773
Write-downs
+€654,448
Other operating charges
+€9,709
Other operating items
-€200,000
Financial income
-€10,315
Financial charges
+€2,763
Taxes
-€212,607
Result 2025
€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.3m
Investment
-€1.0m
Financing
-€317,569
Cash 2024
€1.9m
From operations (derived)
+€1.3m
Net result for the year
+€1.5m
Depreciation
+€5,930
Stocks and contracts
+€154,826
Receivables within one year
-€827,912
Deferred charges and accrued income
+€95,137
Trade debts
+€257,194
Tax, wage and social debts
+€53,496
Investment (derived)
-€1.0m
Current investments
-€1.0m
Financing
-€317,569
Current portion of long-term debt
-€67,569
Contributions, distributions and other
-€250,000
Cash 2025
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,324,478 | €7,863,757 | +€1.5m | +24.3% |
| Fixed assets | 21/28 | €412,840 | €406,910 | -€5,930 | -1.4% |
| Tangible fixed assets | 22/27 | €20,354 | €14,424 | -€5,930 | -29.1% |
| Plant, machinery and equipment | 23 | €7,603 | €5,042 | -€2,561 | -33.7% |
| Furniture and vehicles | 24 | €12,752 | €9,382 | -€3,369 | -26.4% |
| Financial fixed assets | 28 | €392,486 | €392,486 | = | 0.0% |
| Affiliated companies | 280/1 | €392,486 | €392,486 | = | 0.0% |
| Participating interests | 280 | €392,486 | €392,486 | = | 0.0% |
| Current assets | 29/58 | €5,911,638 | €7,456,847 | +€1.5m | +26.1% |
| Stocks and contracts in progress | 3 | €1,070,528 | €915,702 | -€154,826 | -14.5% |
| Stocks | 30/36 | €1,070,528 | €915,702 | -€154,826 | -14.5% |
| Goods purchased for resale | 34 | €1,070,528 | €915,702 | -€154,826 | -14.5% |
| Amounts receivable within one year | 40/41 | €2,851,029 | €3,678,941 | +€827,912 | +29.0% |
| Trade receivables | 40 | €2,741,029 | €3,667,588 | +€926,559 | +33.8% |
| Other amounts receivable | 41 | €110,000 | €11,353 | -€98,647 | -89.7% |
| Current investments | 50/53 | - | €1,000,000 | +€1.0m | |
| Other investments | 51/53 | - | €1,000,000 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €1,883,186 | €1,850,446 | -€32,740 | -1.7% |
| Deferred charges and accrued income | 490/1 | €106,895 | €11,758 | -€95,137 | -89.0% |
| Total equity and liabilities | 10/49 | €6,324,478 | €7,863,757 | +€1.5m | +24.3% |
| Equity | 10/15 | €5,340,008 | €6,636,164 | +€1.3m | +24.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,321,416 | €6,617,572 | +€1.3m | +24.4% |
| Tax-exempt reserves | 132 | €430,555 | €842,000 | +€411,445 | +95.6% |
| Distributable reserves | 133 | €4,890,860 | €5,775,572 | +€884,712 | +18.1% |
| Amounts payable | 17/49 | €984,471 | €1,227,592 | +€243,122 | +24.7% |
| Amounts payable within one year | 42/48 | €984,471 | €1,227,592 | +€243,122 | +24.7% |
| Current portion of amounts payable after more than one year | 42 | €67,569 | €0 | -€67,569 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €673,115 | €930,309 | +€257,194 | +38.2% |
| Suppliers | 440/4 | €673,115 | €930,309 | +€257,194 | +38.2% |
| Taxes, remuneration and social security | 45 | €243,787 | €297,283 | +€53,496 | +21.9% |
| Taxes | 450/3 | €196,398 | €253,364 | +€56,966 | +29.0% |
| Remuneration and social security | 454/9 | €47,389 | €43,919 | -€3,469 | -7.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Operating income | 70/76A | €27,420,388 | €24,580,466 | -€2.8m | -10.4% |
| Turnover | 70 | €27,395,476 | €24,555,436 | -€2.8m | -10.4% |
| Other operating income | 74 | €24,913 | €25,029 | +€117 | +0.5% |
| Operating charges | 60/66A | €26,626,134 | €22,871,326 | -€3.8m | -14.1% |
| Goods for resale, raw materials and consumables | 60 | €24,462,709 | €21,074,391 | -€3.4m | -13.9% |
| Purchases | 600/8 | €24,172,107 | €20,919,565 | -€3.3m | -13.5% |
| Change in stocks: decrease (increase) | 609 | €290,602 | €154,826 | -€135,776 | -46.7% |
| Services and other goods | 61 | €1,627,202 | €1,664,097 | +€36,895 | +2.3% |
| Remuneration, social security and pensions | 62 | €466,698 | €527,471 | +€60,773 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,930 | €5,930 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €53,224 | -€601,224 | -€654,448 | |
| Other operating charges | 640/8 | €10,370 | €662 | -€9,709 | -93.6% |
| Non-recurring operating charges | 66A | - | €200,000 | +€200,000 | |
| Operating profit (loss) | 9901 | €794,255 | €1,709,140 | +€914,885 | +115% |
| Financial income | 75/76B | €356,414 | €346,099 | -€10,315 | -2.9% |
| Recurring financial income | 75 | €356,414 | €346,099 | -€10,315 | -2.9% |
| Income from current assets | 751 | €9,209 | €20,587 | +€11,378 | +124% |
| Other financial income | 752/9 | €347,205 | €325,512 | -€21,694 | -6.2% |
| Financial charges | 65/66B | €8,546 | €5,783 | -€2,763 | -32.3% |
| Recurring financial charges | 65 | €8,546 | €5,783 | -€2,763 | -32.3% |
| Debt charges | 650 | €7,327 | €1,758 | -€5,569 | -76.0% |
| Other financial charges | 652/9 | €1,220 | €4,025 | +€2,806 | +230% |
| Profit (loss) for the period before taxes | 9903 | €1,142,123 | €2,049,455 | +€907,332 | +79.4% |
| Income taxes | 67/77 | €290,692 | €503,298 | +€212,607 | +73.1% |
| Taxes | 670/3 | €290,692 | €503,298 | +€212,607 | +73.1% |
| Profit (loss) for the period | 9904 | €851,431 | €1,546,157 | +€694,726 | +81.6% |
| Transfer to tax-exempt reserves | 689 | €430,555 | €411,445 | -€19,111 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €420,876 | €1,134,712 | +€713,836 | +170% |
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 31 October 2026 via checked.be.