Axe Trade: 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 Trade
Largest movements
- Cash +€26,969
up €26,969 (+69.4%), from €38,872 to €65,841
mainly Depreciation (+€16,597) and Net result for the year (+€6,157)
- Tangible fixed assets -€14,263
down €14,263 (-26.7%), from €53,499 to €39,235
of which Furniture and vehicles: -€13,828
- Receivables within one year +€2,543
up €2,543 (+24.0%), from €10,584 to €13,127
of which Trade receivables: +€10,530
- Intangible fixed assets -€2,334
no longer reported in 2025 (was €2,334)
- Reserves +€6,157
up €6,157 (+21.5%), from €28,688 to €34,844
- Trade debts +€4,361
up €4,361 (+22.6%), from €19,275 to €23,636
- Other debts +€3,237
up €3,237 (+10.9%), from €29,672 to €32,909
- Tax, wage and social debts -€1,433
down €1,433 (-6.0%), from €23,731 to €22,298
of which Remuneration and social security: -€909
- Gross operating margin -€77,558
down €77,558 (-35.4%), from €219,062 to €141,504
- Staff costs -€75,796
down €75,796 (-40.2%), from €188,708 to €112,912
- Depreciation +€11,869
up €11,869 (+251%), from €4,729 to €16,597
- Taxes -€3,571
down €3,571 (-56.6%), from €6,311 to €2,740
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 | €107,426 | €119,723 | +€12,297 | +11.4% |
| Fixed assets | 21/28 | €56,341 | €39,744 | -€16,597 | -29.5% |
| Intangible fixed assets | 21 | €2,334 | - | -€2,334 | |
| Tangible fixed assets | 22/27 | €53,499 | €39,235 | -€14,263 | -26.7% |
| Plant, machinery and equipment | 23 | €435 | - | -€435 | |
| Furniture and vehicles | 24 | €53,064 | €39,235 | -€13,828 | -26.1% |
| Financial fixed assets | 28 | €509 | €509 | = | 0.0% |
| Current assets | 29/58 | €51,085 | €79,979 | +€28,895 | +56.6% |
| Amounts receivable within one year | 40/41 | €10,584 | €13,127 | +€2,543 | +24.0% |
| Trade receivables | 40 | €2,558 | €13,088 | +€10,530 | +412% |
| Other amounts receivable | 41 | €8,026 | €38 | -€7,988 | -99.5% |
| Cash at bank and in hand | 54/58 | €38,872 | €65,841 | +€26,969 | +69.4% |
| Deferred charges and accrued income | 490/1 | €1,629 | €1,012 | -€617 | -37.9% |
| Total equity and liabilities | 10/49 | €107,426 | €119,723 | +€12,297 | +11.4% |
| Equity | 10/15 | €33,688 | €39,844 | +€6,157 | +18.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €28,688 | €34,844 | +€6,157 | +21.5% |
| Distributable reserves | 133 | €28,688 | €34,844 | +€6,157 | +21.5% |
| Amounts payable | 17/49 | €73,738 | €79,879 | +€6,141 | +8.3% |
| Amounts payable within one year | 42/48 | €73,738 | €79,879 | +€6,141 | +8.3% |
| Trade debts | 44 | €19,275 | €23,636 | +€4,361 | +22.6% |
| Suppliers | 440/4 | €19,275 | €23,636 | +€4,361 | +22.6% |
| Advances received on contracts in progress | 46 | €1,061 | €1,036 | -€25 | -2.4% |
| Taxes, remuneration and social security | 45 | €23,731 | €22,298 | -€1,433 | -6.0% |
| Taxes | 450/3 | €6,288 | €5,764 | -€524 | -8.3% |
| Remuneration and social security | 454/9 | €17,443 | €16,534 | -€909 | -5.2% |
| Other amounts payable | 47/48 | €29,672 | €32,909 | +€3,237 | +10.9% |
| Non-recurring operating income | 76A | €1,914 | - | -€1,914 | |
| Remuneration, social security and pensions | 62 | €188,708 | €112,912 | -€75,796 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,729 | €16,597 | +€11,869 | +251% |
| Other operating charges | 640/8 | €471 | €1,630 | +€1,159 | +246% |
| Gross operating margin | 9900 | €219,062 | €141,504 | -€77,558 | -35.4% |
| Operating profit (loss) | 9901 | €25,154 | €10,365 | -€14,789 | -58.8% |
| Financial income | 75/76B | €994 | €390 | -€604 | -60.8% |
| Recurring financial income | 75 | €994 | €390 | -€604 | -60.8% |
| Financial charges | 65/66B | €2,361 | €1,858 | -€503 | -21.3% |
| Recurring financial charges | 65 | €2,361 | €1,858 | -€503 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €23,787 | €8,897 | -€14,890 | -62.6% |
| Income taxes | 67/77 | €6,311 | €2,740 | -€3,571 | -56.6% |
| Profit (loss) for the period | 9904 | €17,475 | €6,157 | -€11,319 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,475 | €6,157 | -€11,319 | -64.8% |
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 20 October 2026 via checked.be.