AXEMA: 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.
AXEMA
Largest movements
- Tangible fixed assets -€363,264
down €363,264 (-6.5%), from €5.6m to €5.2m
of which Land and buildings: -€366,207
- Deferred charges and accrued income +€58,774
up €58,774 (+145.3%), from €40,458 to €99,231
- Other debts -€383,712
down €383,712 (-49.0%), from €782,722 to €399,010
- Reserves +€165,000
up €165,000 (+14.8%), from €1.1m to €1.3m
of which Distributable reserves: +€165,000
- Advances received +€150,000
up €150,000 (+20.0%), from €750,000 to €900,000
- Debts after one year -€149,521
down €149,521 (-9.4%), from €1.6m to €1.4m
- Current portion of long-term debt -€77,786
down €77,786 (-34.2%), from €227,306 to €149,521
- Gross operating margin +€71,297
up €71,297 (+9.1%), from €783,780 to €855,077
- Other operating charges +€25,065
up €25,065 (+28.6%), from €87,764 to €112,829
- Taxes +€12,895
up €12,895 (+31.0%), from €41,651 to €54,546
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 | €5,697,232 | €5,410,211 | -€287,021 | -5.0% |
| Fixed assets | 21/28 | €5,563,453 | €5,200,190 | -€363,264 | -6.5% |
| Tangible fixed assets | 22/27 | €5,558,453 | €5,195,190 | -€363,264 | -6.5% |
| Land and buildings | 22 | €5,558,453 | €5,192,246 | -€366,207 | -6.6% |
| Plant, machinery and equipment | 23 | - | €2,943 | +€2,943 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €133,779 | €210,022 | +€76,243 | +57.0% |
| Amounts receivable within one year | 40/41 | €31,385 | €77,024 | +€45,639 | +145.4% |
| Trade receivables | 40 | €31,346 | €76,975 | +€45,629 | +145.6% |
| Other amounts receivable | 41 | €39 | €49 | +€10 | +24.3% |
| Cash at bank and in hand | 54/58 | €61,936 | €33,766 | -€28,170 | -45.5% |
| Deferred charges and accrued income | 490/1 | €40,458 | €99,231 | +€58,774 | +145.3% |
| Total equity and liabilities | 10/49 | €5,697,232 | €5,410,211 | -€287,021 | -5.0% |
| Equity | 10/15 | €2,049,816 | €2,213,454 | +€163,639 | +8.0% |
| Contributions | 10/11 | €930,145 | €930,145 | = | 0.0% |
| Reserves | 13 | €1,115,000 | €1,280,000 | +€165,000 | +14.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,115,000 | €1,280,000 | +€165,000 | +14.8% |
| Profit (loss) carried forward | 14 | €4,671 | €3,309 | -€1,361 | -29.1% |
| Amounts payable | 17/49 | €3,647,417 | €3,196,757 | -€450,660 | -12.4% |
| Amounts payable after more than one year | 17 | €1,583,260 | €1,433,739 | -€149,521 | -9.4% |
| Financial debts | 170/4 | €1,583,260 | €1,433,739 | -€149,521 | -9.4% |
| Amounts payable within one year | 42/48 | €1,972,060 | €1,695,845 | -€276,214 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €227,306 | €149,521 | -€77,786 | -34.2% |
| Financial debts | 43 | - | €13,560 | +€13,560 | |
| Credit institutions | 430/8 | - | €13,560 | +€13,560 | |
| Trade debts | 44 | €190,209 | €197,258 | +€7,049 | +3.7% |
| Suppliers | 440/4 | €190,209 | €197,258 | +€7,049 | +3.7% |
| Advances received on contracts in progress | 46 | €750,000 | €900,000 | +€150,000 | +20.0% |
| Taxes, remuneration and social security | 45 | €21,823 | €36,496 | +€14,674 | +67.2% |
| Taxes | 450/3 | €21,823 | €36,496 | +€14,674 | +67.2% |
| Other amounts payable | 47/48 | €782,722 | €399,010 | -€383,712 | -49.0% |
| Accrued charges and deferred income | 492/3 | €92,097 | €67,173 | -€24,925 | -27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €366,207 | €366,298 | +€91 | 0.0% |
| Other operating charges | 640/8 | €87,764 | €112,829 | +€25,065 | +28.6% |
| Gross operating margin | 9900 | €783,780 | €855,077 | +€71,297 | +9.1% |
| Operating profit (loss) | 9901 | €329,809 | €375,950 | +€46,142 | +14.0% |
| Financial income | 75/76B | €11 | €23 | +€13 | +117.7% |
| Recurring financial income | 75 | €11 | €23 | +€13 | +117.7% |
| Financial charges | 65/66B | €43,218 | €37,789 | -€5,429 | -12.6% |
| Recurring financial charges | 65 | €43,218 | €37,789 | -€5,429 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €286,601 | €338,185 | +€51,583 | +18.0% |
| Income taxes | 67/77 | €41,651 | €54,546 | +€12,895 | +31.0% |
| Profit (loss) for the period | 9904 | €244,950 | €283,639 | +€38,689 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €244,950 | €283,639 | +€38,689 | +15.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.