AXCOFARMA: 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.
AXCOFARMA
Largest movements
- Tangible fixed assets +€251,964
up €251,964 (+3304.6%), from €7,625 to €259,589
of which Land and buildings: +€253,545
- Cash -€156,151
down €156,151 (-61.1%), from €255,603 to €99,451
mainly Investment in fixed assets (net) (-€260,000) and Trade debts (-€34,704)
- Stocks and contracts +€7,368
up €7,368 (+10.9%), from €67,362 to €74,730
- Other debts +€140,396
up €140,396 (+56.1%), from €250,411 to €390,807
- Trade debts -€34,704
down €34,704 (-52.3%), from €66,371 to €31,667
- Gross operating margin +€57,191
up €57,191 (+68.0%), from €84,090 to €141,281
- Other operating charges +€31,524
up €31,524 (+6224.1%), from €506 to €32,031
- Depreciation +€5,945
up €5,945 (+284.2%), from €2,092 to €8,036
- Taxes -€2,165
down €2,165 (-57.0%), from €3,798 to €1,633
- Staff costs +€1,565
up €1,565 (+2.4%), from €65,931 to €67,496
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 | €383,144 | €489,172 | +€106,028 | +27.7% |
| Fixed assets | 21/28 | €7,625 | €259,589 | +€251,964 | +3304.6% |
| Tangible fixed assets | 22/27 | €7,625 | €259,589 | +€251,964 | +3304.6% |
| Land and buildings | 22 | €784 | €254,329 | +€253,545 | +32330.0% |
| Plant, machinery and equipment | 23 | €2,060 | €976 | -€1,084 | -52.6% |
| Furniture and vehicles | 24 | €4,780 | €4,284 | -€496 | -10.4% |
| Current assets | 29/58 | €375,519 | €229,584 | -€145,935 | -38.9% |
| Stocks and contracts in progress | 3 | €67,362 | €74,730 | +€7,368 | +10.9% |
| Stocks | 30/36 | €67,362 | €74,730 | +€7,368 | +10.9% |
| Amounts receivable within one year | 40/41 | €46,951 | €49,877 | +€2,926 | +6.2% |
| Trade receivables | 40 | €44,651 | €49,371 | +€4,720 | +10.6% |
| Other amounts receivable | 41 | €2,299 | €505 | -€1,794 | -78.0% |
| Cash at bank and in hand | 54/58 | €255,603 | €99,451 | -€156,151 | -61.1% |
| Deferred charges and accrued income | 490/1 | €5,604 | €5,526 | -€78 | -1.4% |
| Total equity and liabilities | 10/49 | €383,144 | €489,172 | +€106,028 | +27.7% |
| Equity | 10/15 | €47,483 | €47,483 | = | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €35,083 | €35,083 | = | 0.0% |
| Distributable reserves | 133 | €35,083 | €35,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €335,661 | €441,690 | +€106,028 | +31.6% |
| Amounts payable within one year | 42/48 | €331,212 | €439,321 | +€108,109 | +32.6% |
| Trade debts | 44 | €66,371 | €31,667 | -€34,704 | -52.3% |
| Suppliers | 440/4 | €66,371 | €31,667 | -€34,704 | -52.3% |
| Taxes, remuneration and social security | 45 | €14,430 | €16,847 | +€2,417 | +16.8% |
| Taxes | 450/3 | €1,574 | €3,722 | +€2,148 | +136.4% |
| Remuneration and social security | 454/9 | €12,855 | €13,125 | +€270 | +2.1% |
| Other amounts payable | 47/48 | €250,411 | €390,807 | +€140,396 | +56.1% |
| Accrued charges and deferred income | 492/3 | €4,449 | €2,369 | -€2,081 | -46.8% |
| Remuneration, social security and pensions | 62 | €65,931 | €67,496 | +€1,565 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,092 | €8,036 | +€5,945 | +284.2% |
| Other operating charges | 640/8 | €506 | €32,031 | +€31,524 | +6224.1% |
| Gross operating margin | 9900 | €84,090 | €141,281 | +€57,191 | +68.0% |
| Operating profit (loss) | 9901 | €15,561 | €33,718 | +€18,156 | +116.7% |
| Financial income | 75/76B | €323 | €444 | +€121 | +37.5% |
| Recurring financial income | 75 | €323 | €444 | +€121 | +37.5% |
| Financial charges | 65/66B | €1,311 | €1,643 | +€331 | +25.3% |
| Recurring financial charges | 65 | €1,311 | €1,643 | +€331 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €14,573 | €32,519 | +€17,946 | +123.1% |
| Income taxes | 67/77 | €3,798 | €1,633 | -€2,165 | -57.0% |
| Profit (loss) for the period | 9904 | €10,775 | €30,886 | +€20,112 | +186.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,775 | €30,886 | +€20,112 | +186.7% |
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 5 October 2026 via checked.be.