AXE RENOV: 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.
AXE RENOV
Largest movements
- Cash +€133,160
up €133,160 (+23.1%), from €577,283 to €710,444
mainly Other debts (+€260,993) and Receivables within one year (+€99,698)
- Receivables within one year -€99,698
down €99,698 (-60.6%), from €164,587 to €64,889
of which Trade receivables: -€105,557
- Tangible fixed assets -€41,072
down €41,072 (-43.7%), from €93,920 to €52,849
of which Furniture and vehicles: -€40,823
- Other debts +€260,993
up €260,993 (+64,050%), from €407 to €261,400
- Profit (loss) carried forward -€200,000
down €200,000 (-42.7%), from €468,358 to €268,358
- Tax, wage and social debts -€37,590
down €37,590 (-71.6%), from €52,470 to €14,880
of which Taxes: -€37,590
- Trade debts -€25,496
down €25,496 (-43.4%), from €58,806 to €33,310
- Current portion of long-term debt -€10,941
down €10,941 (-73.2%), from €14,943 to €4,002
- Gross operating margin -€28,997
down €28,997 (-17.6%), from €164,545 to €135,549
- Taxes -€6,710
down €6,710 (-20.6%), from €32,627 to €25,917
- Depreciation -€5,761
down €5,761 (-12.3%), from €46,833 to €41,072
- Other operating charges -€2,387
down €2,387 (-40.7%), from €5,861 to €3,474
- Financial income -€1,789
down €1,789 (-52.4%), from €3,415 to €1,626
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 | €850,301 | €835,686 | -€14,615 | -1.7% |
| Fixed assets | 21/28 | €93,920 | €52,849 | -€41,072 | -43.7% |
| Tangible fixed assets | 22/27 | €93,920 | €52,849 | -€41,072 | -43.7% |
| Plant, machinery and equipment | 23 | €249 | - | -€249 | |
| Furniture and vehicles | 24 | €93,671 | €52,849 | -€40,823 | -43.6% |
| Current assets | 29/58 | €756,381 | €782,837 | +€26,457 | +3.5% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €164,587 | €64,889 | -€99,698 | -60.6% |
| Trade receivables | 40 | €151,685 | €46,128 | -€105,557 | -69.6% |
| Other amounts receivable | 41 | €12,902 | €18,761 | +€5,859 | +45.4% |
| Cash at bank and in hand | 54/58 | €577,283 | €710,444 | +€133,160 | +23.1% |
| Deferred charges and accrued income | 490/1 | €13,010 | €6,004 | -€7,006 | -53.8% |
| Total equity and liabilities | 10/49 | €850,301 | €835,686 | -€14,615 | -1.7% |
| Equity | 10/15 | €711,967 | €515,866 | -€196,101 | -27.5% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €237,359 | €241,258 | +€3,899 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €235,499 | €239,398 | +€3,899 | +1.7% |
| Profit (loss) carried forward | 14 | €468,358 | €268,358 | -€200,000 | -42.7% |
| Amounts payable | 17/49 | €138,334 | €319,820 | +€181,486 | +131% |
| Amounts payable after more than one year | 17 | €4,002 | - | -€4,002 | |
| Financial debts | 170/4 | €4,002 | - | -€4,002 | |
| Amounts payable within one year | 42/48 | €133,418 | €319,820 | +€186,401 | +140% |
| Current portion of amounts payable after more than one year | 42 | €14,943 | €4,002 | -€10,941 | -73.2% |
| Financial debts | 43 | €6,792 | €6,228 | -€564 | -8.3% |
| Credit institutions | 430/8 | €6,792 | €6,228 | -€564 | -8.3% |
| Trade debts | 44 | €58,806 | €33,310 | -€25,496 | -43.4% |
| Suppliers | 440/4 | €58,806 | €33,310 | -€25,496 | -43.4% |
| Taxes, remuneration and social security | 45 | €52,470 | €14,880 | -€37,590 | -71.6% |
| Taxes | 450/3 | €44,120 | €6,530 | -€37,590 | -85.2% |
| Remuneration and social security | 454/9 | €8,350 | €8,350 | = | 0.0% |
| Other amounts payable | 47/48 | €407 | €261,400 | +€260,993 | +64,050% |
| Accrued charges and deferred income | 492/3 | €914 | - | -€914 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,833 | €41,072 | -€5,761 | -12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €720 | - | -€720 | |
| Other operating charges | 640/8 | €5,861 | €3,474 | -€2,387 | -40.7% |
| Non-recurring operating charges | 66A | €393 | - | -€393 | |
| Gross operating margin | 9900 | €164,545 | €135,549 | -€28,997 | -17.6% |
| Operating profit (loss) | 9901 | €110,738 | €91,003 | -€19,735 | -17.8% |
| Financial income | 75/76B | €3,415 | €1,626 | -€1,789 | -52.4% |
| Recurring financial income | 75 | €3,415 | €1,626 | -€1,789 | -52.4% |
| Financial charges | 65/66B | €1,328 | €1,413 | +€85 | +6.4% |
| Recurring financial charges | 65 | €1,328 | €1,163 | -€165 | -12.4% |
| Non-recurring financial charges | 66B | - | €250 | +€250 | |
| Profit (loss) for the period before taxes | 9903 | €112,826 | €91,216 | -€21,610 | -19.2% |
| Income taxes | 67/77 | €32,627 | €25,917 | -€6,710 | -20.6% |
| Profit (loss) for the period | 9904 | €80,199 | €65,299 | -€14,900 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,199 | €65,299 | -€14,900 | -18.6% |
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 18 October 2026 via checked.be.