AXELLENCE: 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.
AXELLENCE
Largest movements
- Receivables within one year +€72,667
up €72,667 (+26.2%), from €277,416 to €350,084
of which Other amounts receivable: +€66,791
- Cash +€47,142
up €47,142 (+39.6%), from €119,047 to €166,188
mainly Tax, wage and social debts (+€43,459) and Investment in fixed assets (net) (+€31,029)
- Tangible fixed assets -€44,269
down €44,269 (-56.0%), from €79,042 to €34,773
of which Leasing and similar rights: -€31,029
- Intangible fixed assets -€7,500
down €7,500 (-33.3%), from €22,500 to €15,000
- Tax, wage and social debts +€43,459
up €43,459 (+152%), from €28,664 to €72,123
of which Taxes: +€30,362
- Trade debts +€14,324
up €14,324 (+11.6%), from €123,418 to €137,742
- Profit (loss) carried forward +€13,508
up €13,508 (+9.7%), from €139,371 to €152,879
- Gross operating margin +€56,778
up €56,778 (+38.1%), from €148,851 to €205,630
- Staff costs +€53,261
up €53,261 (+73.2%), from €72,779 to €126,040
- Depreciation -€11,659
down €11,659 (-36.0%), from €32,399 to €20,740
- Taxes -€7,788
down €7,788 (-61.7%), from €12,613 to €4,825
- Write-downs +€6,340
new in 2025: €6,340
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 | €498,005 | €566,093 | +€68,088 | +13.7% |
| Fixed assets | 21/28 | €101,542 | €49,773 | -€51,769 | -51.0% |
| Intangible fixed assets | 21 | €22,500 | €15,000 | -€7,500 | -33.3% |
| Tangible fixed assets | 22/27 | €79,042 | €34,773 | -€44,269 | -56.0% |
| Plant, machinery and equipment | 23 | €488 | €358 | -€130 | -26.6% |
| Furniture and vehicles | 24 | €15,764 | €10,862 | -€4,901 | -31.1% |
| Leasing and similar rights | 25 | €31,029 | €0 | -€31,029 | -100% |
| Other tangible fixed assets | 26 | €31,761 | €23,552 | -€8,209 | -25.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €396,463 | €516,320 | +€119,857 | +30.2% |
| Amounts receivable within one year | 40/41 | €277,416 | €350,084 | +€72,667 | +26.2% |
| Trade receivables | 40 | €272,831 | €278,707 | +€5,876 | +2.2% |
| Other amounts receivable | 41 | €4,585 | €71,377 | +€66,791 | +1,457% |
| Cash at bank and in hand | 54/58 | €119,047 | €166,188 | +€47,142 | +39.6% |
| Deferred charges and accrued income | 490/1 | - | €48 | +€48 | |
| Total equity and liabilities | 10/49 | €498,005 | €566,093 | +€68,088 | +13.7% |
| Equity | 10/15 | €329,822 | €343,330 | +€13,508 | +4.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €171,859 | €171,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €170,000 | €170,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,371 | €152,879 | +€13,508 | +9.7% |
| Amounts payable | 17/49 | €168,183 | €222,763 | +€54,581 | +32.5% |
| Amounts payable within one year | 42/48 | €168,183 | €222,596 | +€54,414 | +32.4% |
| Financial debts | 43 | €16,101 | €12,617 | -€3,484 | -21.6% |
| Credit institutions | 430/8 | €16,101 | €12,617 | -€3,484 | -21.6% |
| Trade debts | 44 | €123,418 | €137,742 | +€14,324 | +11.6% |
| Suppliers | 440/4 | €123,418 | €137,742 | +€14,324 | +11.6% |
| Taxes, remuneration and social security | 45 | €28,664 | €72,123 | +€43,459 | +152% |
| Taxes | 450/3 | €21,962 | €52,324 | +€30,362 | +138% |
| Remuneration and social security | 454/9 | €6,702 | €19,799 | +€13,097 | +195% |
| Other amounts payable | 47/48 | €0 | €114 | +€114 | |
| Accrued charges and deferred income | 492/3 | €0 | €167 | +€167 | |
| Non-recurring operating income | 76A | €1,423 | €1 | -€1,423 | -99.9% |
| Remuneration, social security and pensions | 62 | €72,779 | €126,040 | +€53,261 | +73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,399 | €20,740 | -€11,659 | -36.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,340 | +€6,340 | |
| Other operating charges | 640/8 | €2,422 | €1,415 | -€1,007 | -41.6% |
| Non-recurring operating charges | 66A | €11,129 | €30,202 | +€19,073 | +171% |
| Gross operating margin | 9900 | €148,851 | €205,630 | +€56,778 | +38.1% |
| Operating profit (loss) | 9901 | €30,122 | €20,893 | -€9,229 | -30.6% |
| Financial income | 75/76B | €1,973 | €4,419 | +€2,446 | +124% |
| Recurring financial income | 75 | €1,973 | €4,419 | +€2,446 | +124% |
| Financial charges | 65/66B | €5,469 | €6,979 | +€1,510 | +27.6% |
| Recurring financial charges | 65 | €5,469 | €6,979 | +€1,510 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €26,627 | €18,333 | -€8,294 | -31.1% |
| Income taxes | 67/77 | €12,613 | €4,825 | -€7,788 | -61.7% |
| Profit (loss) for the period | 9904 | €14,014 | €13,508 | -€506 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,014 | €13,508 | -€506 | -3.6% |
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 17 October 2026 via checked.be.