AXELANE: 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.
AXELANE
Largest movements
- Receivables within one year -€55,628
down €55,628 (-71.9%), from €77,357 to €21,729
of which Trade receivables: -€55,628
- Cash +€22,809
up €22,809 (+35.0%), from €65,091 to €87,900
mainly Net result for the year (+€316,294) and Receivables within one year (+€55,628)
- Tangible fixed assets -€10,347
down €10,347 (-16.7%), from €61,779 to €51,432
of which Furniture and vehicles: -€6,247
- Other debts -€44,707
down €44,707 (-53.0%), from €84,408 to €39,700
- Tax, wage and social debts -€21,948
down €21,948 (-35.3%), from €62,203 to €40,255
- Profit (loss) carried forward +€16,294
up €16,294 (+30.0%), from €54,299 to €70,593
- Trade debts +€7,081
up €7,081 (+381.0%), from €1,858 to €8,940
- Gross operating margin -€47,925
down €47,925 (-9.6%), from €498,013 to €450,087
- Taxes -€12,848
down €12,848 (-10.8%), from €119,251 to €106,403
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 | €212,768 | €169,488 | -€43,280 | -20.3% |
| Fixed assets | 21/28 | €66,279 | €55,932 | -€10,347 | -15.6% |
| Tangible fixed assets | 22/27 | €61,779 | €51,432 | -€10,347 | -16.7% |
| Plant, machinery and equipment | 23 | €12,067 | €7,967 | -€4,100 | -34.0% |
| Furniture and vehicles | 24 | €49,713 | €43,465 | -€6,247 | -12.6% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €146,489 | €113,555 | -€32,933 | -22.5% |
| Amounts receivable within one year | 40/41 | €77,357 | €21,729 | -€55,628 | -71.9% |
| Trade receivables | 40 | €77,357 | €21,729 | -€55,628 | -71.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €65,091 | €87,900 | +€22,809 | +35.0% |
| Deferred charges and accrued income | 490/1 | €4,041 | €3,926 | -€115 | -2.8% |
| Total equity and liabilities | 10/49 | €212,768 | €169,488 | -€43,280 | -20.3% |
| Equity | 10/15 | €64,299 | €80,593 | +€16,294 | +25.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,299 | €70,593 | +€16,294 | +30.0% |
| Amounts payable | 17/49 | €148,469 | €88,895 | -€59,574 | -40.1% |
| Amounts payable within one year | 42/48 | €148,469 | €88,895 | -€59,574 | -40.1% |
| Trade debts | 44 | €1,858 | €8,940 | +€7,081 | +381.0% |
| Suppliers | 440/4 | €1,858 | €8,940 | +€7,081 | +381.0% |
| Taxes, remuneration and social security | 45 | €62,203 | €40,255 | -€21,948 | -35.3% |
| Taxes | 450/3 | €62,203 | €40,255 | -€21,948 | -35.3% |
| Other amounts payable | 47/48 | €84,408 | €39,700 | -€44,707 | -53.0% |
| Remuneration, social security and pensions | 62 | €251 | €91 | -€160 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,111 | €26,314 | +€3,202 | +13.9% |
| Other operating charges | 640/8 | €951 | €810 | -€141 | -14.8% |
| Gross operating margin | 9900 | €498,013 | €450,087 | -€47,925 | -9.6% |
| Operating profit (loss) | 9901 | €473,699 | €422,872 | -€50,827 | -10.7% |
| Financial income | 75/76B | €16 | €0 | -€16 | -100.0% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100.0% |
| Financial charges | 65/66B | €277 | €174 | -€103 | -37.1% |
| Recurring financial charges | 65 | €277 | €174 | -€103 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €473,438 | €422,698 | -€50,741 | -10.7% |
| Income taxes | 67/77 | €119,251 | €106,403 | -€12,848 | -10.8% |
| Profit (loss) for the period | 9904 | €354,187 | €316,294 | -€37,893 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €354,187 | €316,294 | -€37,893 | -10.7% |
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 5 October 2026 via checked.be.