AXEE: 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.
AXEE
Largest movements
- Cash -€15,607
down €15,607 (-40.1%), from €38,957 to €23,350
mainly Trade debts (-€20,527) and Stocks and contracts (-€9,546)
- Stocks and contracts +€9,546
new in 2025: €9,546
- Tangible fixed assets -€7,210
down €7,210 (-34.9%), from €20,643 to €13,433
of which Furniture and vehicles: -€5,728
- Receivables within one year -€3,862
down €3,862 (-8.8%), from €44,042 to €40,179
of which Trade receivables: -€5,906
- Trade debts -€20,527
down €20,527 (-95.7%), from €21,444 to €917
- Tax, wage and social debts +€7,759
up €7,759 (+86.3%), from €8,989 to €16,748
of which Remuneration and social security: +€10,455
- Debts after one year -€4,455
down €4,455 (-21.0%), from €21,232 to €16,777
- Gross operating margin -€18,168
down €18,168 (-45.8%), from €39,661 to €21,492
- Other operating charges -€5,410
down €5,410 (-58.3%), from €9,276 to €3,866
- Taxes -€2,984
down €2,984 (-85.9%), from €3,472 to €488
- Depreciation +€1,974
up €1,974 (+21.3%), from €9,257 to €11,231
- Financial charges +€1,383
up €1,383 (+39.0%), from €3,544 to €4,927
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 | €103,642 | €86,508 | -€17,134 | -16.5% |
| Fixed assets | 21/28 | €20,643 | €13,433 | -€7,210 | -34.9% |
| Tangible fixed assets | 22/27 | €20,643 | €13,433 | -€7,210 | -34.9% |
| Plant, machinery and equipment | 23 | €1,482 | - | -€1,482 | |
| Furniture and vehicles | 24 | €19,162 | €13,433 | -€5,728 | -29.9% |
| Current assets | 29/58 | €82,998 | €73,074 | -€9,924 | -12.0% |
| Stocks and contracts in progress | 3 | - | €9,546 | +€9,546 | |
| Stocks | 30/36 | - | €9,546 | +€9,546 | |
| Amounts receivable within one year | 40/41 | €44,042 | €40,179 | -€3,862 | -8.8% |
| Trade receivables | 40 | €33,845 | €27,939 | -€5,906 | -17.4% |
| Other amounts receivable | 41 | €10,197 | €12,240 | +€2,043 | +20.0% |
| Cash at bank and in hand | 54/58 | €38,957 | €23,350 | -€15,607 | -40.1% |
| Total equity and liabilities | 10/49 | €103,642 | €86,508 | -€17,134 | -16.5% |
| Equity | 10/15 | €46,630 | €47,611 | +€981 | +2.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,630 | €37,611 | +€981 | +2.7% |
| Amounts payable | 17/49 | €57,012 | €38,897 | -€18,115 | -31.8% |
| Amounts payable after more than one year | 17 | €21,232 | €16,777 | -€4,455 | -21.0% |
| Financial debts | 170/4 | €21,232 | €16,777 | -€4,455 | -21.0% |
| Amounts payable within one year | 42/48 | €35,780 | €22,120 | -€13,660 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €5,347 | €4,455 | -€892 | -16.7% |
| Trade debts | 44 | €21,444 | €917 | -€20,527 | -95.7% |
| Suppliers | 440/4 | €21,444 | €917 | -€20,527 | -95.7% |
| Taxes, remuneration and social security | 45 | €8,989 | €16,748 | +€7,759 | +86.3% |
| Taxes | 450/3 | €6,906 | €4,211 | -€2,695 | -39.0% |
| Remuneration and social security | 454/9 | €2,083 | €12,538 | +€10,455 | +502.0% |
| Remuneration, social security and pensions | 62 | €1,132 | - | -€1,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,257 | €11,231 | +€1,974 | +21.3% |
| Other operating charges | 640/8 | €9,276 | €3,866 | -€5,410 | -58.3% |
| Gross operating margin | 9900 | €39,661 | €21,492 | -€18,168 | -45.8% |
| Operating profit (loss) | 9901 | €19,996 | €6,396 | -€13,600 | -68.0% |
| Financial charges | 65/66B | €3,544 | €4,927 | +€1,383 | +39.0% |
| Recurring financial charges | 65 | €3,544 | €4,927 | +€1,383 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €16,452 | €1,469 | -€14,983 | -91.1% |
| Income taxes | 67/77 | €3,472 | €488 | -€2,984 | -85.9% |
| Profit (loss) for the period | 9904 | €12,980 | €981 | -€11,999 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,980 | €981 | -€11,999 | -92.4% |
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 8 October 2026 via checked.be.