Axcon: 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.
Axcon
Largest movements
- Cash -€20,964
down €20,964 (-70.3%), from €29,809 to €8,845
mainly Debts after one year (-€19,653) and Contributions, distributions and other (-€12,632)
- Tangible fixed assets -€15,606
down €15,606 (-11.3%), from €137,835 to €122,228
of which Land and buildings: -€12,476
- Receivables within one year +€3,406
up €3,406 (+114.4%), from €2,977 to €6,383
- Debts after one year -€19,653
down €19,653 (-23.5%), from €83,651 to €63,998
- Reserves -€12,632
down €12,632 (-16.4%), from €77,140 to €64,509
of which Distributable reserves: -€12,632
- Gross operating margin +€13,594
up €13,594 (+179.0%), from €7,593 to €21,188
- Depreciation -€3,361
down €3,361 (-17.7%), from €18,968 to €15,606
- Staff costs -€1,140
no longer reported in 2025 (was €1,140)
- Other operating charges -€953
down €953 (-32.1%), from €2,969 to €2,016
- Financial charges -€400
down €400 (-11.9%), from €3,370 to €2,969
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 | €171,034 | €138,016 | -€33,018 | -19.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €137,835 | €122,228 | -€15,606 | -11.3% |
| Tangible fixed assets | 22/27 | €137,835 | €122,228 | -€15,606 | -11.3% |
| Land and buildings | 22 | €119,738 | €107,262 | -€12,476 | -10.4% |
| Plant, machinery and equipment | 23 | €1,482 | €1,270 | -€213 | -14.3% |
| Furniture and vehicles | 24 | €13,804 | €11,221 | -€2,583 | -18.7% |
| Other tangible fixed assets | 26 | €2,810 | €2,476 | -€335 | -11.9% |
| Current assets | 29/58 | €33,199 | €15,787 | -€17,412 | -52.4% |
| Amounts receivable within one year | 40/41 | €2,977 | €6,383 | +€3,406 | +114.4% |
| Other amounts receivable | 41 | €2,977 | €6,383 | +€3,406 | +114.4% |
| Cash at bank and in hand | 54/58 | €29,809 | €8,845 | -€20,964 | -70.3% |
| Deferred charges and accrued income | 490/1 | €413 | €559 | +€146 | +35.3% |
| Total equity and liabilities | 10/49 | €171,034 | €138,016 | -€33,018 | -19.3% |
| Equity | 10/15 | €64,792 | €52,665 | -€12,127 | -18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,140 | €64,509 | -€12,632 | -16.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €154 | €154 | = | 0.0% |
| Distributable reserves | 133 | €75,132 | €62,500 | -€12,632 | -16.8% |
| Profit (loss) carried forward | 14 | -€18,549 | -€18,044 | +€505 | +2.7% |
| Amounts payable | 17/49 | €106,242 | €85,351 | -€20,891 | -19.7% |
| Amounts payable after more than one year | 17 | €83,651 | €63,998 | -€19,653 | -23.5% |
| Financial debts | 170/4 | €83,651 | €63,998 | -€19,653 | -23.5% |
| Amounts payable within one year | 42/48 | €22,591 | €21,353 | -€1,238 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €19,962 | €20,279 | +€317 | +1.6% |
| Trade debts | 44 | €2,379 | €892 | -€1,487 | -62.5% |
| Suppliers | 440/4 | €2,379 | €892 | -€1,487 | -62.5% |
| Taxes, remuneration and social security | 45 | €250 | €182 | -€68 | -27.2% |
| Taxes | 450/3 | €250 | €182 | -€68 | -27.2% |
| Remuneration, social security and pensions | 62 | €1,140 | - | -€1,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,968 | €15,606 | -€3,361 | -17.7% |
| Other operating charges | 640/8 | €2,969 | €2,016 | -€953 | -32.1% |
| Gross operating margin | 9900 | €7,593 | €21,188 | +€13,594 | +179.0% |
| Operating profit (loss) | 9901 | -€15,484 | €3,565 | +€19,049 | |
| Financial income | 75/76B | €435 | €130 | -€305 | -70.1% |
| Recurring financial income | 75 | €435 | €130 | -€305 | -70.1% |
| Financial charges | 65/66B | €3,370 | €2,969 | -€400 | -11.9% |
| Recurring financial charges | 65 | €3,370 | €2,969 | -€400 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,418 | €726 | +€19,144 | |
| Income taxes | 67/77 | €131 | €221 | +€90 | +69.3% |
| Profit (loss) for the period | 9904 | -€18,549 | €505 | +€19,053 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,549 | €505 | +€19,053 |
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 30 September 2026 via checked.be.