AXELLE: 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.
AXELLE
Largest movements
- Receivables within one year +€6,471
up €6,471 (+11.2%), from €57,803 to €64,274
of which Other amounts receivable: +€6,501
- Receivables after one year -€5,950
down €5,950 (-16.3%), from €36,448 to €30,498
- Tangible fixed assets -€1,989
down €1,989 (-13.8%), from €14,405 to €12,416
of which Other tangible fixed assets: -€3,137
- Trade debts -€30,564
down €30,564 (-78.6%), from €38,909 to €8,345
- Other debts +€20,350
up €20,350 (+40,700%), from €50 to €20,400
- Profit (loss) carried forward +€4,962
up €4,962 (+15.5%), from €32,108 to €37,070
- Tax, wage and social debts +€2,381
up €2,381 (+151%), from €1,580 to €3,961
of which Taxes: +€2,881
- Current portion of long-term debt +€1,423
up €1,423 (+28.6%), from €4,971 to €6,394
- Depreciation -€14,100
down €14,100 (-74.7%), from €18,867 to €4,766
- Gross operating margin +€4,675
up €4,675 (+36.0%), from €12,995 to €17,670
- Financial income -€2,615
down €2,615 (-76.2%), from €3,434 to €819
of which Non-recurring financial income: -€2,500
- Other operating charges -€789
down €789 (-13.8%), from €5,715 to €4,926
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 | €118,543 | €117,896 | -€647 | -0.5% |
| Fixed assets | 21/28 | €19,348 | €17,359 | -€1,989 | -10.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €14,405 | €12,416 | -€1,989 | -13.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €801 | €419 | -€382 | -47.7% |
| Leasing and similar rights | 25 | €0 | €1,529 | +€1,529 | |
| Other tangible fixed assets | 26 | €13,604 | €10,467 | -€3,137 | -23.1% |
| Financial fixed assets | 28 | €4,943 | €4,943 | = | 0.0% |
| Current assets | 29/58 | €99,195 | €100,537 | +€1,342 | +1.4% |
| Amounts receivable after more than one year | 29 | €36,448 | €30,498 | -€5,950 | -16.3% |
| Trade receivables | 290 | €36,448 | €30,498 | -€5,950 | -16.3% |
| Amounts receivable within one year | 40/41 | €57,803 | €64,274 | +€6,471 | +11.2% |
| Trade receivables | 40 | €29 | €0 | -€29 | -100% |
| Other amounts receivable | 41 | €57,773 | €64,274 | +€6,501 | +11.3% |
| Cash at bank and in hand | 54/58 | €4,422 | €4,790 | +€368 | +8.3% |
| Deferred charges and accrued income | 490/1 | €523 | €976 | +€453 | +86.7% |
| Total equity and liabilities | 10/49 | €118,543 | €117,896 | -€647 | -0.5% |
| Equity | 10/15 | €52,568 | €57,530 | +€4,962 | +9.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,108 | €37,070 | +€4,962 | +15.5% |
| Amounts payable | 17/49 | €65,975 | €60,366 | -€5,609 | -8.5% |
| Amounts payable after more than one year | 17 | - | €533 | +€533 | |
| Financial debts | 170/4 | - | €533 | +€533 | |
| Amounts payable within one year | 42/48 | €65,975 | €59,833 | -€6,142 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €4,971 | €6,394 | +€1,423 | +28.6% |
| Financial debts | 43 | €20,465 | €20,733 | +€268 | +1.3% |
| Credit institutions | 430/8 | €20,465 | €20,733 | +€268 | +1.3% |
| Trade debts | 44 | €38,909 | €8,345 | -€30,564 | -78.6% |
| Suppliers | 440/4 | €38,909 | €8,345 | -€30,564 | -78.6% |
| Taxes, remuneration and social security | 45 | €1,580 | €3,961 | +€2,381 | +151% |
| Taxes | 450/3 | €1,080 | €3,961 | +€2,881 | +267% |
| Remuneration and social security | 454/9 | €500 | €0 | -€500 | -100% |
| Other amounts payable | 47/48 | €50 | €20,400 | +€20,350 | +40,700% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,867 | €4,766 | -€14,100 | -74.7% |
| Other operating charges | 640/8 | €5,715 | €4,926 | -€789 | -13.8% |
| Gross operating margin | 9900 | €12,995 | €17,670 | +€4,675 | +36.0% |
| Operating profit (loss) | 9901 | -€11,587 | €7,978 | +€19,565 | |
| Financial income | 75/76B | €3,434 | €819 | -€2,615 | -76.2% |
| Recurring financial income | 75 | €934 | €819 | -€115 | -12.3% |
| Non-recurring financial income | 76B | €2,500 | €0 | -€2,500 | -100% |
| Financial charges | 65/66B | €3,145 | €3,292 | +€147 | +4.7% |
| Recurring financial charges | 65 | €3,145 | €3,292 | +€147 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,297 | €5,505 | +€16,802 | |
| Income taxes | 67/77 | €522 | €543 | +€21 | +4.0% |
| Profit (loss) for the period | 9904 | -€11,819 | €4,962 | +€16,781 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,819 | €4,962 | +€16,781 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.