AXC PROPERTIES: what changed
Two fiscal 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.
AXC PROPERTIES
Largest movements
- Stocks and contracts -€3.3m
down €3.3m (-19.2%), from €17.2m to €13.9m
- Cash -€352,682
down €352,682 (-82.0%), from €430,221 to €77,539
mainly Debts after one year (-€4.1m) and Receivables within one year (-€4,726)
- Debts after one year -€4.1m
down €4.1m (-44.0%), from €9.4m to €5.3m
of which Financial debts: -€4.1m
- Gross operating margin -€1.2m
down €1.2m (-58.6%), from €2.1m to €879,500
- Financial charges -€505,406
down €505,406 (-50.3%), from €1.0m to €499,860
- Taxes -€219,774
down €219,774 (-84.5%), from €260,151 to €40,377
- Other operating charges +€61,225
up €61,225 (+141.4%), from €43,309 to €104,534
- Depreciation +€23,030
up €23,030 (+77.0%), from €29,917 to €52,947
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 | €20,456,501 | €16,765,228 | -€3.7m | -18.0% |
| Fixed assets | 21/28 | €2,855,110 | €2,802,163 | -€52,947 | -1.9% |
| Tangible fixed assets | 22/27 | €457,060 | €404,113 | -€52,947 | -11.6% |
| Land and buildings | 22 | €310,925 | €301,925 | -€9,000 | -2.9% |
| Plant, machinery and equipment | 23 | €3,511 | €2,622 | -€889 | -25.3% |
| Furniture and vehicles | 24 | €142,624 | €99,566 | -€43,058 | -30.2% |
| Financial fixed assets | 28 | €2,398,050 | €2,398,050 | = | 0.0% |
| Current assets | 29/58 | €17,601,391 | €13,963,065 | -€3.6m | -20.7% |
| Stocks and contracts in progress | 3 | €17,164,858 | €13,874,488 | -€3.3m | -19.2% |
| Stocks | 30/36 | €17,164,858 | €13,874,488 | -€3.3m | -19.2% |
| Amounts receivable within one year | 40/41 | €6,312 | €11,038 | +€4,726 | +74.9% |
| Trade receivables | 40 | €6,088 | €10,957 | +€4,869 | +80.0% |
| Other amounts receivable | 41 | €224 | €81 | -€143 | -63.8% |
| Cash at bank and in hand | 54/58 | €430,221 | €77,539 | -€352,682 | -82.0% |
| Total equity and liabilities | 10/49 | €20,456,501 | €16,765,228 | -€3.7m | -18.0% |
| Equity | 10/15 | €816,618 | €937,775 | +€121,157 | +14.8% |
| Profit (loss) carried forward | 14 | €816,618 | €937,775 | +€121,157 | +14.8% |
| Amounts payable | 17/49 | €19,639,883 | €15,827,453 | -€3.8m | -19.4% |
| Amounts payable after more than one year | 17 | €9,410,844 | €5,274,653 | -€4.1m | -44.0% |
| Financial debts | 170/4 | €6,990,794 | €2,854,603 | -€4.1m | -59.2% |
| Other amounts payable | 178/9 | €2,420,050 | €2,420,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,209,093 | €10,520,811 | +€311,718 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €5,889,174 | €6,011,245 | +€122,071 | +2.1% |
| Trade debts | 44 | €17,904 | €64,068 | +€46,164 | +257.8% |
| Suppliers | 440/4 | €17,904 | €64,068 | +€46,164 | +257.8% |
| Taxes, remuneration and social security | 45 | €106,145 | €142,586 | +€36,441 | +34.3% |
| Taxes | 450/3 | €97,567 | €133,967 | +€36,400 | +37.3% |
| Remuneration and social security | 454/9 | €8,578 | €8,619 | +€41 | +0.5% |
| Other amounts payable | 47/48 | €4,195,870 | €4,302,912 | +€107,042 | +2.6% |
| Accrued charges and deferred income | 492/3 | €19,946 | €31,989 | +€12,043 | +60.4% |
| Remuneration, social security and pensions | 62 | €59,141 | €60,625 | +€1,484 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,917 | €52,947 | +€23,030 | +77.0% |
| Other operating charges | 640/8 | €43,309 | €104,534 | +€61,225 | +141.4% |
| Gross operating margin | 9900 | €2,124,942 | €879,500 | -€1.2m | -58.6% |
| Operating profit (loss) | 9901 | €1,992,575 | €661,394 | -€1.3m | -66.8% |
| Financial charges | 65/66B | €1,005,266 | €499,860 | -€505,406 | -50.3% |
| Recurring financial charges | 65 | €1,005,266 | €499,860 | -€505,406 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | €987,309 | €161,534 | -€825,775 | -83.6% |
| Income taxes | 67/77 | €260,151 | €40,377 | -€219,774 | -84.5% |
| Profit (loss) for the period | 9904 | €727,158 | €121,157 | -€606,001 | -83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €727,158 | €121,157 | -€606,001 | -83.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.