AXERIO: 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.
AXERIO
Largest movements
- Tangible fixed assets +€589,566
up €589,566 (+146.1%), from €403,457 to €993,024
of which Land and buildings: +€473,817
- Cash -€113,693
down €113,693 (-29.8%), from €382,122 to €268,429
mainly Investment in fixed assets (net) (-€693,557) and Tax, wage and social debts (-€126,596)
- Receivables within one year -€87,453
down €87,453 (-73.1%), from €119,685 to €32,233
of which Trade receivables: -€68,103
- Reserves +€339,445
up €339,445 (+152.3%), from €222,820 to €562,265
of which Distributable reserves: +€171,045
- Trade debts +€134,882
up €134,882 (+2279.1%), from €5,918 to €140,800
- Tax, wage and social debts -€126,596
down €126,596 (-70.9%), from €178,598 to €52,003
- Other debts +€38,311
up €38,311 (+15.3%), from €250,000 to €288,311
- Financial income +€184,408
up €184,408 (+3688156.2%), from €5 to €184,413
- Gross operating margin -€66,083
down €66,083 (-15.8%), from €417,388 to €351,305
- Taxes -€28,283
down €28,283 (-28.3%), from €100,067 to €71,783
- Depreciation +€22,578
up €22,578 (+27.7%), from €81,412 to €103,991
- Financial charges +€5,381
up €5,381 (+42.5%), from €12,674 to €18,055
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 | €919,868 | €1,311,073 | +€391,205 | +42.5% |
| Fixed assets | 21/28 | €413,957 | €1,003,524 | +€589,566 | +142.4% |
| Tangible fixed assets | 22/27 | €403,457 | €993,024 | +€589,566 | +146.1% |
| Land and buildings | 22 | €375,210 | €849,027 | +€473,817 | +126.3% |
| Furniture and vehicles | 24 | €28,247 | €143,996 | +€115,749 | +409.8% |
| Financial fixed assets | 28 | €10,500 | €10,500 | = | 0.0% |
| Current assets | 29/58 | €505,910 | €307,550 | -€198,361 | -39.2% |
| Amounts receivable within one year | 40/41 | €119,685 | €32,233 | -€87,453 | -73.1% |
| Trade receivables | 40 | €100,335 | €32,233 | -€68,103 | -67.9% |
| Other amounts receivable | 41 | €19,350 | €0 | -€19,350 | -100.0% |
| Cash at bank and in hand | 54/58 | €382,122 | €268,429 | -€113,693 | -29.8% |
| Deferred charges and accrued income | 490/1 | €4,103 | €6,888 | +€2,785 | +67.9% |
| Total equity and liabilities | 10/49 | €919,868 | €1,311,073 | +€391,205 | +42.5% |
| Equity | 10/15 | €472,820 | €812,265 | +€339,445 | +71.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €222,820 | €562,265 | +€339,445 | +152.3% |
| Tax-exempt reserves | 132 | - | €168,400 | +€168,400 | |
| Distributable reserves | 133 | €222,820 | €393,865 | +€171,045 | +76.8% |
| Amounts payable | 17/49 | €447,048 | €498,808 | +€51,761 | +11.6% |
| Amounts payable within one year | 42/48 | €434,517 | €481,113 | +€46,597 | +10.7% |
| Trade debts | 44 | €5,918 | €140,800 | +€134,882 | +2279.1% |
| Suppliers | 440/4 | €5,918 | €140,800 | +€134,882 | +2279.1% |
| Taxes, remuneration and social security | 45 | €178,598 | €52,003 | -€126,596 | -70.9% |
| Taxes | 450/3 | €178,598 | €52,003 | -€126,596 | -70.9% |
| Other amounts payable | 47/48 | €250,000 | €288,311 | +€38,311 | +15.3% |
| Accrued charges and deferred income | 492/3 | €12,531 | €17,695 | +€5,164 | +41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,412 | €103,991 | +€22,578 | +27.7% |
| Other operating charges | 640/8 | €421 | €1,334 | +€913 | +217.1% |
| Non-recurring operating charges | 66A | - | €1,110 | +€1,110 | |
| Gross operating margin | 9900 | €417,388 | €351,305 | -€66,083 | -15.8% |
| Operating profit (loss) | 9901 | €335,555 | €244,870 | -€90,685 | -27.0% |
| Financial income | 75/76B | €5 | €184,413 | +€184,408 | +3688156.2% |
| Recurring financial income | 75 | €5 | €184,413 | +€184,408 | +3688156.2% |
| Financial charges | 65/66B | €12,674 | €18,055 | +€5,381 | +42.5% |
| Recurring financial charges | 65 | €12,674 | €18,055 | +€5,381 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €322,887 | €411,228 | +€88,342 | +27.4% |
| Income taxes | 67/77 | €100,067 | €71,783 | -€28,283 | -28.3% |
| Profit (loss) for the period | 9904 | €222,820 | €339,445 | +€116,625 | +52.3% |
| Transfer to tax-exempt reserves | 689 | - | €168,400 | +€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €222,820 | €171,045 | -€51,775 | -23.2% |
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 9 October 2026 via checked.be.