AXER: 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.
AXER
Largest movements
- Cash -€10,429
down €10,429 (-30.6%), from €34,091 to €23,662
mainly Debts after one year (-€25,007) and Investment in fixed assets (net) (-€9,952)
- Receivables within one year +€6,354
new in 2025: €6,354
- Tangible fixed assets +€6,008
up €6,008 (+93.6%), from €6,422 to €12,430
of which Plant, machinery and equipment: +€6,195
- Debts after one year -€25,007
down €25,007 (-24.1%), from €103,776 to €78,769
- Profit (loss) carried forward +€20,912
up €20,912 (+15.6%), from €134,422 to €155,333
- Tax, wage and social debts +€8,005
up €8,005 (+92.6%), from €8,647 to €16,651
- Trade debts -€3,045
down €3,045 (-31.0%), from €9,831 to €6,786
- Gross operating margin -€1,191
down €1,191 (-3.0%), from €39,880 to €38,688
- Financial charges -€933
down €933 (-16.4%), from €5,680 to €4,747
- Staff costs +€690
new in 2025: €690
- Taxes -€642
down €642 (-7.4%), from €8,647 to €8,005
- Depreciation +€445
up €445 (+12.7%), from €3,500 to €3,945
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 | €290,763 | €292,546 | +€1,783 | +0.6% |
| Fixed assets | 21/28 | €256,422 | €262,430 | +€6,008 | +2.3% |
| Tangible fixed assets | 22/27 | €6,422 | €12,430 | +€6,008 | +93.6% |
| Plant, machinery and equipment | 23 | - | €6,195 | +€6,195 | |
| Furniture and vehicles | 24 | €6,422 | €6,235 | -€187 | -2.9% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €34,341 | €30,117 | -€4,224 | -12.3% |
| Amounts receivable within one year | 40/41 | - | €6,354 | +€6,354 | |
| Other amounts receivable | 41 | - | €6,354 | +€6,354 | |
| Cash at bank and in hand | 54/58 | €34,091 | €23,662 | -€10,429 | -30.6% |
| Deferred charges and accrued income | 490/1 | €250 | €100 | -€150 | -60.0% |
| Total equity and liabilities | 10/49 | €290,763 | €292,546 | +€1,783 | +0.6% |
| Equity | 10/15 | €144,422 | €165,333 | +€20,912 | +14.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,422 | €155,333 | +€20,912 | +15.6% |
| Amounts payable | 17/49 | €146,341 | €127,213 | -€19,128 | -13.1% |
| Amounts payable after more than one year | 17 | €103,776 | €78,769 | -€25,007 | -24.1% |
| Financial debts | 170/4 | €103,776 | €78,769 | -€25,007 | -24.1% |
| Amounts payable within one year | 42/48 | €42,565 | €48,444 | +€5,879 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €24,049 | €25,007 | +€958 | +4.0% |
| Trade debts | 44 | €9,831 | €6,786 | -€3,045 | -31.0% |
| Suppliers | 440/4 | €9,831 | €6,786 | -€3,045 | -31.0% |
| Taxes, remuneration and social security | 45 | €8,647 | €16,651 | +€8,005 | +92.6% |
| Taxes | 450/3 | €8,647 | €16,651 | +€8,005 | +92.6% |
| Other amounts payable | 47/48 | €39 | - | -€39 | |
| Remuneration, social security and pensions | 62 | - | €690 | +€690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,500 | €3,945 | +€445 | +12.7% |
| Other operating charges | 640/8 | €256 | €250 | -€6 | -2.3% |
| Non-recurring operating charges | 66A | - | €140 | +€140 | |
| Gross operating margin | 9900 | €39,880 | €38,688 | -€1,191 | -3.0% |
| Operating profit (loss) | 9901 | €36,124 | €33,663 | -€2,461 | -6.8% |
| Financial charges | 65/66B | €5,680 | €4,747 | -€933 | -16.4% |
| Recurring financial charges | 65 | €5,680 | €4,747 | -€933 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €30,444 | €28,916 | -€1,528 | -5.0% |
| Income taxes | 67/77 | €8,647 | €8,005 | -€642 | -7.4% |
| Profit (loss) for the period | 9904 | €21,797 | €20,912 | -€886 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,797 | €20,912 | -€886 | -4.1% |
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 14 October 2026 via checked.be.