AxCa: what changed
AxCa
Largest movements
- Current investments +€400,000
new in 2026: €400,000
- Cash -€174,933
down €174,933 (-25.1%), from €698,051 to €523,119
mainly Current investments (-€400,000) and Other debts (-€26,555)
- Receivables within one year -€33,575
down €33,575 (-47.7%), from €70,399 to €36,824
of which Other amounts receivable: -€30,056
- Tangible fixed assets -€14,340
down €14,340 (-51.9%), from €27,606 to €13,265
- Profit (loss) carried forward +€110,107
up €110,107 (+17.5%), from €630,839 to €740,946
- Reserves +€96,830
up €96,830 (+92.0%), from €105,250 to €202,080
- Other debts -€26,555
no longer reported in 2026 (was €26,555)
- Gross operating margin -€19,566
down €19,566 (-6.4%), from €306,274 to €286,707
- Taxes -€4,858
down €4,858 (-6.7%), from €72,218 to €67,360
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €796,552 | €973,208 | +€176,656 | +22.2% |
| Fixed assets | 21/28 | €27,606 | €13,265 | -€14,340 | -51.9% |
| Tangible fixed assets | 22/27 | €27,606 | €13,265 | -€14,340 | -51.9% |
| Furniture and vehicles | 24 | €27,606 | €13,265 | -€14,340 | -51.9% |
| Current assets | 29/58 | €768,946 | €959,943 | +€190,997 | +24.8% |
| Amounts receivable within one year | 40/41 | €70,399 | €36,824 | -€33,575 | -47.7% |
| Trade receivables | 40 | €36,794 | €33,275 | -€3,519 | -9.6% |
| Other amounts receivable | 41 | €33,605 | €3,549 | -€30,056 | -89.4% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €698,051 | €523,119 | -€174,933 | -25.1% |
| Deferred charges and accrued income | 490/1 | €496 | - | -€496 | |
| Total equity and liabilities | 10/49 | €796,552 | €973,208 | +€176,656 | +22.2% |
| Equity | 10/15 | €746,089 | €953,026 | +€206,937 | +27.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €105,250 | €202,080 | +€96,830 | +92.0% |
| Tax-exempt reserves | 132 | €105,250 | €202,080 | +€96,830 | +92.0% |
| Profit (loss) carried forward | 14 | €630,839 | €740,946 | +€110,107 | +17.5% |
| Amounts payable | 17/49 | €50,463 | €20,182 | -€30,281 | -60.0% |
| Amounts payable within one year | 42/48 | €50,463 | €20,182 | -€30,281 | -60.0% |
| Trade debts | 44 | €5,897 | €2,283 | -€3,614 | -61.3% |
| Suppliers | 440/4 | €5,897 | €2,283 | -€3,614 | -61.3% |
| Taxes, remuneration and social security | 45 | €18,010 | €17,899 | -€111 | -0.6% |
| Taxes | 450/3 | €18,010 | €16,999 | -€1,011 | -5.6% |
| Remuneration and social security | 454/9 | - | €900 | +€900 | |
| Other amounts payable | 47/48 | €26,555 | - | -€26,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,828 | €14,340 | -€488 | -3.3% |
| Other operating charges | 640/8 | €809 | €1,163 | +€354 | +43.7% |
| Gross operating margin | 9900 | €306,274 | €286,707 | -€19,566 | -6.4% |
| Operating profit (loss) | 9901 | €290,637 | €271,204 | -€19,433 | -6.7% |
| Financial income | 75/76B | €2,742 | €3,250 | +€508 | +18.5% |
| Recurring financial income | 75 | €2,742 | €3,250 | +€508 | +18.5% |
| Financial charges | 65/66B | €69 | €157 | +€88 | +127% |
| Recurring financial charges | 65 | €69 | €157 | +€88 | +127% |
| Profit (loss) for the period before taxes | 9903 | €293,310 | €274,297 | -€19,013 | -6.5% |
| Income taxes | 67/77 | €72,218 | €67,360 | -€4,858 | -6.7% |
| Profit (loss) for the period | 9904 | €221,092 | €206,937 | -€14,155 | -6.4% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €96,830 | -€8,420 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,842 | €110,107 | -€5,735 | -5.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.