Axcelsio: 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.
Axcelsio
Largest movements
- Receivables within one year -€42,048
down €42,048 (-37.0%), from €113,784 to €71,736
of which Trade receivables: -€89,216
- Cash +€27,267
up €27,267 (+55.2%), from €49,381 to €76,648
mainly Net result for the year (+€86,940) and Receivables within one year (+€42,048)
- Financial fixed assets +€18,200
up €18,200 (+129.0%), from €14,105 to €32,305
- Tangible fixed assets -€15,043
down €15,043 (-29.8%), from €50,417 to €35,374
- Advances received -€116,251
no longer reported in 2025 (was €116,251)
- Reserves +€87,702
up €87,702 (+46.4%), from €189,000 to €276,702
- Trade debts +€14,605
up €14,605 (+426.5%), from €3,425 to €18,030
- Tax, wage and social debts +€12,316
up €12,316 (+90.5%), from €13,602 to €25,918
- Other debts -€6,903
down €6,903 (-82.8%), from €8,335 to €1,432
- Financial income +€25,902
up €25,902 (+1529.6%), from €1,693 to €27,595
- Gross operating margin +€17,774
up €17,774 (+22.6%), from €78,499 to €96,273
- Taxes +€4,902
up €4,902 (+36.0%), from €13,602 to €18,504
- Depreciation +€4,191
up €4,191 (+38.6%), from €10,851 to €15,043
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 | €353,057 | €346,601 | -€6,456 | -1.8% |
| Fixed assets | 21/28 | €64,522 | €67,679 | +€3,157 | +4.9% |
| Tangible fixed assets | 22/27 | €50,417 | €35,374 | -€15,043 | -29.8% |
| Furniture and vehicles | 24 | €50,417 | €35,374 | -€15,043 | -29.8% |
| Financial fixed assets | 28 | €14,105 | €32,305 | +€18,200 | +129.0% |
| Current assets | 29/58 | €288,535 | €278,923 | -€9,613 | -3.3% |
| Amounts receivable after more than one year | 29 | €123,193 | €126,589 | +€3,395 | +2.8% |
| Other amounts receivable | 291 | €123,193 | €126,589 | +€3,395 | +2.8% |
| Amounts receivable within one year | 40/41 | €113,784 | €71,736 | -€42,048 | -37.0% |
| Trade receivables | 40 | €111,952 | €22,736 | -€89,216 | -79.7% |
| Other amounts receivable | 41 | €1,832 | €49,000 | +€47,168 | +2574.9% |
| Cash at bank and in hand | 54/58 | €49,381 | €76,648 | +€27,267 | +55.2% |
| Deferred charges and accrued income | 490/1 | €2,177 | €3,950 | +€1,773 | +81.4% |
| Total equity and liabilities | 10/49 | €353,057 | €346,601 | -€6,456 | -1.8% |
| Equity | 10/15 | €190,762 | €277,702 | +€86,940 | +45.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €189,000 | €276,702 | +€87,702 | +46.4% |
| Distributable reserves | 133 | €189,000 | €276,702 | +€87,702 | +46.4% |
| Profit (loss) carried forward | 14 | €762 | - | -€762 | |
| Amounts payable | 17/49 | €162,295 | €68,899 | -€93,396 | -57.5% |
| Amounts payable after more than one year | 17 | €9,423 | €9,163 | -€261 | -2.8% |
| Financial debts | 170/4 | €9,423 | €9,163 | -€261 | -2.8% |
| Amounts payable within one year | 42/48 | €152,871 | €59,736 | -€93,135 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €11,259 | €14,357 | +€3,097 | +27.5% |
| Trade debts | 44 | €3,425 | €18,030 | +€14,605 | +426.5% |
| Suppliers | 440/4 | €3,425 | €18,030 | +€14,605 | +426.5% |
| Advances received on contracts in progress | 46 | €116,251 | - | -€116,251 | |
| Taxes, remuneration and social security | 45 | €13,602 | €25,918 | +€12,316 | +90.5% |
| Taxes | 450/3 | €13,602 | €25,918 | +€12,316 | +90.5% |
| Other amounts payable | 47/48 | €8,335 | €1,432 | -€6,903 | -82.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,851 | €15,043 | +€4,191 | +38.6% |
| Other operating charges | 640/8 | €1,734 | €1,754 | +€20 | +1.1% |
| Gross operating margin | 9900 | €78,499 | €96,273 | +€17,774 | +22.6% |
| Operating profit (loss) | 9901 | €65,914 | €79,477 | +€13,563 | +20.6% |
| Financial income | 75/76B | €1,693 | €27,595 | +€25,902 | +1529.6% |
| Recurring financial income | 75 | €1,693 | €27,595 | +€25,902 | +1529.6% |
| Financial charges | 65/66B | €870 | €1,629 | +€759 | +87.2% |
| Recurring financial charges | 65 | €870 | €1,629 | +€759 | +87.2% |
| Profit (loss) for the period before taxes | 9903 | €66,737 | €105,443 | +€38,706 | +58.0% |
| Income taxes | 67/77 | €13,602 | €18,504 | +€4,902 | +36.0% |
| Profit (loss) for the period | 9904 | €53,136 | €86,940 | +€33,804 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,136 | €86,940 | +€33,804 | +63.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.