AXCEBO: 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.
AXCEBO
Largest movements
- Current investments -€388,431
down €388,431 (-91.4%), from €424,876 to €36,445
- Cash +€369,764
up €369,764 (+75.2%), from €491,519 to €861,283
mainly Current investments (+€388,431) and Net result for the year (+€382,700)
- Receivables within one year +€63,425
up €63,425 (+10.4%), from €609,210 to €672,635
of which Trade receivables: +€34,123
- Tangible fixed assets +€51,628
up €51,628 (+2.7%), from €1.9m to €1.9m
of which Plant, machinery and equipment: +€78,355
- Stocks and contracts +€50,579
up €50,579 (+22.7%), from €223,007 to €273,586
- Reserves +€132,700
up €132,700 (+58.7%), from €225,992 to €358,692
of which Distributable reserves: +€142,700
- Debts after one year -€77,915
down €77,915 (-5.1%), from €1.5m to €1.5m
- Other debts +€75,204
up €75,204 (+8.7%), from €865,791 to €940,995
- Gross operating margin -€131,997
down €131,997 (-14.1%), from €935,453 to €803,457
- Financial charges -€82,421
down €82,421 (-52.8%), from €156,104 to €73,682
- Taxes -€46,290
down €46,290 (-27.4%), from €169,250 to €122,959
- Staff costs +€24,238
up €24,238 (+11.7%), from €207,502 to €231,741
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 | €3,658,145 | €3,803,429 | +€145,284 | +4.0% |
| Fixed assets | 21/28 | €1,907,852 | €1,959,480 | +€51,628 | +2.7% |
| Tangible fixed assets | 22/27 | €1,894,602 | €1,946,230 | +€51,628 | +2.7% |
| Land and buildings | 22 | €1,609,834 | €1,563,816 | -€46,018 | -2.9% |
| Plant, machinery and equipment | 23 | €276,708 | €355,062 | +€78,355 | +28.3% |
| Furniture and vehicles | 24 | €8,060 | €27,352 | +€19,292 | +239% |
| Financial fixed assets | 28 | €13,250 | €13,250 | = | 0.0% |
| Current assets | 29/58 | €1,750,293 | €1,843,949 | +€93,656 | +5.4% |
| Stocks and contracts in progress | 3 | €223,007 | €273,586 | +€50,579 | +22.7% |
| Stocks | 30/36 | €223,007 | €273,586 | +€50,579 | +22.7% |
| Amounts receivable within one year | 40/41 | €609,210 | €672,635 | +€63,425 | +10.4% |
| Trade receivables | 40 | €609,210 | €643,333 | +€34,123 | +5.6% |
| Other amounts receivable | 41 | €0 | €29,303 | +€29,303 | |
| Current investments | 50/53 | €424,876 | €36,445 | -€388,431 | -91.4% |
| Cash at bank and in hand | 54/58 | €491,519 | €861,283 | +€369,764 | +75.2% |
| Deferred charges and accrued income | 490/1 | €1,681 | €0 | -€1,681 | -100% |
| Total equity and liabilities | 10/49 | €3,658,145 | €3,803,429 | +€145,284 | +4.0% |
| Equity | 10/15 | €325,992 | €458,692 | +€132,700 | +40.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €225,992 | €358,692 | +€132,700 | +58.7% |
| Non-distributable reserves | 130/1 | €10,000 | €0 | -€10,000 | -100% |
| Reserves not available under the articles | 1311 | €10,000 | €0 | -€10,000 | -100% |
| Distributable reserves | 133 | €215,992 | €358,692 | +€142,700 | +66.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,332,153 | €3,344,737 | +€12,584 | +0.4% |
| Amounts payable after more than one year | 17 | €1,530,471 | €1,452,556 | -€77,915 | -5.1% |
| Financial debts | 170/4 | €1,530,471 | €1,452,556 | -€77,915 | -5.1% |
| Amounts payable within one year | 42/48 | €1,801,682 | €1,892,181 | +€90,499 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €78,721 | €77,915 | -€806 | -1.0% |
| Trade debts | 44 | €89,535 | €94,276 | +€4,741 | +5.3% |
| Suppliers | 440/4 | €89,535 | €94,276 | +€4,741 | +5.3% |
| Advances received on contracts in progress | 46 | €718,432 | €735,048 | +€16,615 | +2.3% |
| Taxes, remuneration and social security | 45 | €49,203 | €43,947 | -€5,255 | -10.7% |
| Taxes | 450/3 | €24,085 | €16,089 | -€7,996 | -33.2% |
| Remuneration and social security | 454/9 | €25,118 | €27,859 | +€2,741 | +10.9% |
| Other amounts payable | 47/48 | €865,791 | €940,995 | +€75,204 | +8.7% |
| Remuneration, social security and pensions | 62 | €207,502 | €231,741 | +€24,238 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,318 | €100,775 | +€2,457 | +2.5% |
| Other operating charges | 640/8 | €13,541 | €12,927 | -€614 | -4.5% |
| Gross operating margin | 9900 | €935,453 | €803,457 | -€131,997 | -14.1% |
| Operating profit (loss) | 9901 | €616,093 | €458,014 | -€158,078 | -25.7% |
| Financial income | 75/76B | €126,202 | €121,328 | -€4,874 | -3.9% |
| Recurring financial income | 75 | €126,202 | €121,328 | -€4,874 | -3.9% |
| Financial charges | 65/66B | €156,104 | €73,682 | -€82,421 | -52.8% |
| Recurring financial charges | 65 | €156,104 | €73,682 | -€82,421 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €586,191 | €505,660 | -€80,531 | -13.7% |
| Income taxes | 67/77 | €169,250 | €122,959 | -€46,290 | -27.4% |
| Profit (loss) for the period | 9904 | €416,941 | €382,700 | -€34,241 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €416,941 | €382,700 | -€34,241 | -8.2% |
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 16 October 2026 via checked.be.