AXEL LEYS: what changed
What changed
AXEL LEYS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€92,646
2024 · €77,161+€15,485
Equity
€757,159
2024 · €778,760-€21,601
Cash
€194,076
2024 · €187,660+€6,417
Balance sheet total
€1.4m
2024 · €1.4m-€48,736
Largest movements
Assets
- Receivables within one year -€45,269
down €45,269 (-9.2%), from €493,796 to €448,528
of which Other amounts receivable: -€44,363
- Tangible fixed assets -€33,364
down €33,364 (-8.4%), from €397,346 to €363,982
of which Land and buildings: -€32,878
- Financial fixed assets +€24,153
up €24,153 (+7.4%), from €327,483 to €351,636
Equity and liabilities
- Debts after one year -€76,486
down €76,486 (-16.8%), from €454,172 to €377,686
- Other debts +€52,661
up €52,661 (+76.0%), from €69,313 to €121,973
Income statement
- Financial income +€11,796
up €11,796 (+46.5%), from €25,360 to €37,156
- Gross operating margin +€4,740
up €4,740 (+3.2%), from €145,899 to €150,640
- Financial charges +€3,805
up €3,805 (+17.4%), from €21,851 to €25,656
- Other operating charges -€2,912
down €2,912 (-37.4%), from €7,782 to €4,870
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€77,161
Gross operating margin
+€4,740
Depreciation
+€1,303
Other operating charges
+€2,912
Financial income
+€11,796
Financial charges
-€3,805
Taxes
-€1,459
Result 2025
€92,646
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€230,520
Investment
-€24,153
Financing
-€199,950
Cash 2024
€187,660
From operations (derived)
+€230,520
Net result for the year
+€92,646
Depreciation
+€33,364
Receivables within one year
+€45,269
Deferred charges and accrued income
+€673
Trade debts
-€1,409
Tax, wage and social debts
+€6,256
Other debts
+€52,661
Accrued charges and deferred income
+€1,060
Investment (derived)
-€24,153
Investment in fixed assets (net)
-€24,153
Financing
-€199,950
Debts after one year
-€76,486
Current portion of long-term debt
+€3,373
Short-term financial debts
-€12,590
Contributions, distributions and other
-€114,247
Cash 2025
€194,076
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,407,813 | €1,359,077 | -€48,736 | -3.5% |
| Fixed assets | 21/28 | €724,829 | €715,618 | -€9,211 | -1.3% |
| Tangible fixed assets | 22/27 | €397,346 | €363,982 | -€33,364 | -8.4% |
| Land and buildings | 22 | €396,860 | €363,982 | -€32,878 | -8.3% |
| Furniture and vehicles | 24 | €486 | €0 | -€486 | -100% |
| Financial fixed assets | 28 | €327,483 | €351,636 | +€24,153 | +7.4% |
| Current assets | 29/58 | €682,984 | €643,459 | -€39,525 | -5.8% |
| Amounts receivable within one year | 40/41 | €493,796 | €448,528 | -€45,269 | -9.2% |
| Trade receivables | 40 | €122,768 | €121,863 | -€906 | -0.7% |
| Other amounts receivable | 41 | €371,028 | €326,665 | -€44,363 | -12.0% |
| Cash at bank and in hand | 54/58 | €187,660 | €194,076 | +€6,417 | +3.4% |
| Deferred charges and accrued income | 490/1 | €1,528 | €855 | -€673 | -44.1% |
| Total equity and liabilities | 10/49 | €1,407,813 | €1,359,077 | -€48,736 | -3.5% |
| Equity | 10/15 | €778,760 | €757,159 | -€21,601 | -2.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €174,191 | €163,302 | -€10,889 | -6.3% |
| Reserves | 13 | €586,019 | €575,307 | -€10,712 | -1.8% |
| Distributable reserves | 133 | €586,019 | €575,307 | -€10,712 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €629,053 | €601,918 | -€27,135 | -4.3% |
| Amounts payable after more than one year | 17 | €454,172 | €377,686 | -€76,486 | -16.8% |
| Financial debts | 170/4 | €454,172 | €377,686 | -€76,486 | -16.8% |
| Amounts payable within one year | 42/48 | €173,840 | €222,130 | +€48,291 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €73,113 | €76,486 | +€3,373 | +4.6% |
| Financial debts | 43 | €12,590 | €0 | -€12,590 | -100% |
| Credit institutions | 430/8 | €12,590 | €0 | -€12,590 | -100% |
| Trade debts | 44 | €3,072 | €1,663 | -€1,409 | -45.9% |
| Suppliers | 440/4 | €3,072 | €1,663 | -€1,409 | -45.9% |
| Taxes, remuneration and social security | 45 | €15,752 | €22,008 | +€6,256 | +39.7% |
| Taxes | 450/3 | €15,752 | €22,008 | +€6,256 | +39.7% |
| Other amounts payable | 47/48 | €69,313 | €121,973 | +€52,661 | +76.0% |
| Accrued charges and deferred income | 492/3 | €1,041 | €2,102 | +€1,060 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,666 | €33,364 | -€1,303 | -3.8% |
| Other operating charges | 640/8 | €7,782 | €4,870 | -€2,912 | -37.4% |
| Gross operating margin | 9900 | €145,899 | €150,640 | +€4,740 | +3.2% |
| Operating profit (loss) | 9901 | €103,451 | €112,405 | +€8,954 | +8.7% |
| Financial income | 75/76B | €25,360 | €37,156 | +€11,796 | +46.5% |
| Recurring financial income | 75 | €25,360 | €37,156 | +€11,796 | +46.5% |
| Financial charges | 65/66B | €21,851 | €25,656 | +€3,805 | +17.4% |
| Recurring financial charges | 65 | €21,851 | €25,656 | +€3,805 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €106,960 | €123,905 | +€16,945 | +15.8% |
| Income taxes | 67/77 | €29,799 | €31,258 | +€1,459 | +4.9% |
| Profit (loss) for the period | 9904 | €77,161 | €92,646 | +€15,485 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,161 | €92,646 | +€15,485 | +20.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.