Axello: 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.
Axello
Largest movements
- Receivables within one year -€98,178
down €98,178 (-86.2%), from €113,872 to €15,694
of which Other amounts receivable: -€93,991
- Current investments +€20,000
up €20,000 (+20.0%), from €100,000 to €120,000
- Cash +€10,810
up €10,810 (+35.0%), from €30,909 to €41,719
mainly Receivables within one year (+€98,178) and Other debts (+€80,750)
- Reserves -€134,328
down €134,328 (-65.4%), from €205,355 to €71,027
- Other debts +€80,750
new in 2025: €80,750
- Tax, wage and social debts -€15,404
down €15,404 (-39.6%), from €38,919 to €23,515
- Gross operating margin +€7,584
up €7,584 (+9.3%), from €81,267 to €88,851
- Financial charges +€1,682
up €1,682 (+824.7%), from €204 to €1,885
- Taxes +€964
up €964 (+5.3%), from €18,139 to €19,103
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 | €246,326 | €177,548 | -€68,778 | -27.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €246,326 | €177,548 | -€68,778 | -27.9% |
| Amounts receivable within one year | 40/41 | €113,872 | €15,694 | -€98,178 | -86.2% |
| Trade receivables | 40 | €18,150 | €13,963 | -€4,187 | -23.1% |
| Other amounts receivable | 41 | €95,722 | €1,731 | -€93,991 | -98.2% |
| Current investments | 50/53 | €100,000 | €120,000 | +€20,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €30,909 | €41,719 | +€10,810 | +35.0% |
| Deferred charges and accrued income | 490/1 | €1,545 | €135 | -€1,410 | -91.2% |
| Total equity and liabilities | 10/49 | €246,326 | €177,548 | -€68,778 | -27.9% |
| Equity | 10/15 | €206,355 | €72,027 | -€134,328 | -65.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €205,355 | €71,027 | -€134,328 | -65.4% |
| Distributable reserves | 133 | €205,355 | €71,027 | -€134,328 | -65.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,971 | €105,521 | +€65,550 | +164.0% |
| Amounts payable within one year | 42/48 | €39,756 | €105,477 | +€65,721 | +165.3% |
| Trade debts | 44 | €837 | €1,212 | +€375 | +44.9% |
| Suppliers | 440/4 | €837 | €1,212 | +€375 | +44.9% |
| Taxes, remuneration and social security | 45 | €38,919 | €23,515 | -€15,404 | -39.6% |
| Taxes | 450/3 | €38,919 | €23,515 | -€15,404 | -39.6% |
| Other amounts payable | 47/48 | - | €80,750 | +€80,750 | |
| Accrued charges and deferred income | 492/3 | €215 | €44 | -€171 | -79.5% |
| Non-recurring operating income | 76A | - | €1,074 | +€1,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165 | €0 | -€165 | -100.0% |
| Other operating charges | 640/8 | €126 | €650 | +€524 | +415.6% |
| Gross operating margin | 9900 | €81,267 | €88,851 | +€7,584 | +9.3% |
| Operating profit (loss) | 9901 | €80,976 | €88,201 | +€7,225 | +8.9% |
| Financial income | 75/76B | €3,721 | €3,460 | -€261 | -7.0% |
| Recurring financial income | 75 | €3,721 | €3,460 | -€261 | -7.0% |
| Financial charges | 65/66B | €204 | €1,885 | +€1,682 | +824.7% |
| Recurring financial charges | 65 | €204 | €1,885 | +€1,682 | +824.7% |
| Profit (loss) for the period before taxes | 9903 | €84,493 | €89,775 | +€5,283 | +6.3% |
| Income taxes | 67/77 | €18,139 | €19,103 | +€964 | +5.3% |
| Profit (loss) for the period | 9904 | €66,354 | €70,672 | +€4,318 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,354 | €70,672 | +€4,318 | +6.5% |
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 12 October 2026 via checked.be.