AXEL BEAUDUIN: 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.
AXEL BEAUDUIN
Largest movements
- Financial fixed assets +€363,600
new in 2024: €363,600
- Cash +€167,254
up €167,254 (+459%), from €36,466 to €203,720
mainly Debts after one year (+€288,082) and Current portion of long-term debt (+€163,535)
- Receivables within one year +€161,153
up €161,153 (+531%), from €30,369 to €191,523
of which Trade receivables: +€169,765
- Tangible fixed assets -€39,685
down €39,685 (-23.7%), from €167,454 to €127,769
of which Furniture and vehicles: -€22,089
- Debts after one year +€288,082
up €288,082 (+380%), from €75,882 to €363,965
- Current portion of long-term debt +€163,535
up €163,535 (+88.0%), from €185,807 to €349,342
- Profit (loss) carried forward +€98,249
up €98,249, from -€93,483 to €4,766
- Tax, wage and social debts +€62,511
up €62,511 (+415%), from €15,063 to €77,574
- Other debts +€31,355
up €31,355 (+224%), from €13,995 to €45,349
- Gross operating margin +€248,595
up €248,595, from -€98,206 to €150,388
- Financial charges +€5,559
up €5,559 (+238%), from €2,334 to €7,894
- Depreciation -€4,662
down €4,662 (-10.2%), from €45,581 to €40,919
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,076 | €890,400 | +€652,325 | +274% |
| Fixed assets | 21/28 | €167,454 | €491,369 | +€323,915 | +193% |
| Tangible fixed assets | 22/27 | €167,454 | €127,769 | -€39,685 | -23.7% |
| Land and buildings | 22 | €120,905 | €104,528 | -€16,377 | -13.5% |
| Furniture and vehicles | 24 | €45,330 | €23,241 | -€22,089 | -48.7% |
| Other tangible fixed assets | 26 | €1,220 | - | -€1,220 | |
| Financial fixed assets | 28 | - | €363,600 | +€363,600 | |
| Current assets | 29/58 | €70,621 | €399,031 | +€328,410 | +465% |
| Amounts receivable within one year | 40/41 | €30,369 | €191,523 | +€161,153 | +531% |
| Trade receivables | 40 | €21,758 | €191,523 | +€169,765 | +780% |
| Other amounts receivable | 41 | €8,612 | - | -€8,612 | |
| Cash at bank and in hand | 54/58 | €36,466 | €203,720 | +€167,254 | +459% |
| Deferred charges and accrued income | 490/1 | €3,786 | €3,788 | +€2 | +0.1% |
| Total equity and liabilities | 10/49 | €238,076 | €890,400 | +€652,325 | +274% |
| Equity | 10/15 | -€78,483 | €19,766 | +€98,249 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,483 | €4,766 | +€98,249 | |
| Amounts payable | 17/49 | €316,559 | €870,634 | +€554,075 | +175% |
| Amounts payable after more than one year | 17 | €75,882 | €363,965 | +€288,082 | +380% |
| Financial debts | 170/4 | €75,882 | €363,965 | +€288,082 | +380% |
| Amounts payable within one year | 42/48 | €240,677 | €500,550 | +€259,873 | +108% |
| Current portion of amounts payable after more than one year | 42 | €185,807 | €349,342 | +€163,535 | +88.0% |
| Trade debts | 44 | €25,813 | €28,285 | +€2,472 | +9.6% |
| Suppliers | 440/4 | €25,813 | €28,285 | +€2,472 | +9.6% |
| Taxes, remuneration and social security | 45 | €15,063 | €77,574 | +€62,511 | +415% |
| Taxes | 450/3 | €15,063 | €77,574 | +€62,511 | +415% |
| Other amounts payable | 47/48 | €13,995 | €45,349 | +€31,355 | +224% |
| Accrued charges and deferred income | 492/3 | - | €6,120 | +€6,120 | |
| Non-recurring operating income | 76A | - | €9,153 | +€9,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,581 | €40,919 | -€4,662 | -10.2% |
| Other operating charges | 640/8 | €4,023 | €3,751 | -€272 | -6.8% |
| Gross operating margin | 9900 | -€98,206 | €150,388 | +€248,595 | |
| Operating profit (loss) | 9901 | -€147,811 | €105,718 | +€253,529 | |
| Financial income | 75/76B | - | €424 | +€424 | |
| Recurring financial income | 75 | - | €424 | +€424 | |
| Financial charges | 65/66B | €2,334 | €7,894 | +€5,559 | +238% |
| Recurring financial charges | 65 | €2,334 | €7,894 | +€5,559 | +238% |
| Profit (loss) for the period before taxes | 9903 | -€150,145 | €98,249 | +€248,394 | |
| Income taxes | 67/77 | €583 | - | -€583 | |
| Profit (loss) for the period | 9904 | -€150,728 | €98,249 | +€248,977 | |
| Profit (loss) for the period to be appropriated | 9905 | -€150,728 | €98,249 | +€248,977 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.