AXCELL: 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.
AXCELL
Largest movements
- Receivables within one year -€150
down €150 (-4.1%), from €3,634 to €3,484
of which Trade receivables: -€605
- Cash -€63
down €63 (-4.9%), from €1,293 to €1,230
mainly Net result for the year (-€4,885) and Trade debts (-€327)
- Other debts +€5,000
up €5,000 (+5.3%), from €94,611 to €99,611
- Profit (loss) carried forward -€4,885
down €4,885 (-3.3%), from -€148,132 to -€153,017
- Trade debts -€327
down €327 (-84.5%), from €387 to €60
- Gross operating margin -€3,042
down €3,042 (-180.5%), from -€1,685 to -€4,727
- Other operating charges -€349
down €349 (-90.2%), from €387 to €38
- Financial charges +€49
up €49 (+68.0%), from €71 to €120
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 | €4,927 | €4,715 | -€213 | -4.3% |
| Current assets | 29/58 | €4,927 | €4,715 | -€213 | -4.3% |
| Amounts receivable within one year | 40/41 | €3,634 | €3,484 | -€150 | -4.1% |
| Trade receivables | 40 | €1,258 | €653 | -€605 | -48.1% |
| Other amounts receivable | 41 | €2,376 | €2,831 | +€455 | +19.2% |
| Cash at bank and in hand | 54/58 | €1,293 | €1,230 | -€63 | -4.9% |
| Total equity and liabilities | 10/49 | €4,927 | €4,715 | -€213 | -4.3% |
| Equity | 10/15 | -€90,072 | -€94,957 | -€4,885 | -5.4% |
| Contributions | 10/11 | €56,200 | €56,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,132 | -€153,017 | -€4,885 | -3.3% |
| Amounts payable | 17/49 | €94,999 | €99,671 | +€4,673 | +4.9% |
| Amounts payable within one year | 42/48 | €94,999 | €99,671 | +€4,673 | +4.9% |
| Trade debts | 44 | €387 | €60 | -€327 | -84.5% |
| Suppliers | 440/4 | €387 | €60 | -€327 | -84.5% |
| Other amounts payable | 47/48 | €94,611 | €99,611 | +€5,000 | +5.3% |
| Other operating charges | 640/8 | €387 | €38 | -€349 | -90.2% |
| Gross operating margin | 9900 | -€1,685 | -€4,727 | -€3,042 | -180.5% |
| Operating profit (loss) | 9901 | -€2,072 | -€4,765 | -€2,693 | -129.9% |
| Financial charges | 65/66B | €71 | €120 | +€49 | +68.0% |
| Recurring financial charges | 65 | €71 | €120 | +€49 | +68.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,144 | -€4,885 | -€2,741 | -127.9% |
| Profit (loss) for the period | 9904 | -€2,144 | -€4,885 | -€2,741 | -127.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,144 | -€4,885 | -€2,741 | -127.9% |
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 12 October 2026 via checked.be.