Axessa: 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.
Axessa
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+45.6%), from €2.9m to €4.2m
of which Land and buildings: +€1.3m
- Financial fixed assets +€1.2m
up €1.2m (+44.0%), from €2.7m to €3.8m
- Intangible fixed assets +€897,582
new in 2025: €897,582
- Cash +€786,989
up €786,989 (+1,149%), from €68,464 to €855,453
mainly Short-term financial debts (+€2.6m) and Depreciation (+€599,174)
- Receivables within one year -€205,534
down €205,534 (-37.7%), from €544,999 to €339,465
of which Other amounts receivable: -€266,292
- Short-term financial debts +€2.6m
new in 2025: €2.6m
- Debts after one year +€496,530
up €496,530 (+16.6%), from €3.0m to €3.5m
- Reserves +€256,046
up €256,046 (+177%), from €144,330 to €400,375
of which Tax-exempt reserves: +€256,046
- Current portion of long-term debt +€223,500
up €223,500 (+98.6%), from €226,584 to €450,084
- Gross operating margin +€861,471
up €861,471 (+201%), from €428,853 to €1.3m
- Depreciation +€318,936
up €318,936 (+114%), from €280,238 to €599,174
- Financial income -€176,303
down €176,303 (-100.0%), from €176,305 to €2
- Financial charges +€77,442
up €77,442 (+76.4%), from €101,346 to €178,787
- Other operating charges +€18,411
up €18,411 (+28.0%), from €65,802 to €84,213
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 | €6,158,038 | €10,129,283 | +€4.0m | +64.5% |
| Fixed assets | 21/28 | €5,544,575 | €8,926,625 | +€3.4m | +61.0% |
| Intangible fixed assets | 21 | - | €897,582 | +€897,582 | |
| Tangible fixed assets | 22/27 | €2,881,238 | €4,193,712 | +€1.3m | +45.6% |
| Land and buildings | 22 | €2,505,240 | €3,761,226 | +€1.3m | +50.1% |
| Plant, machinery and equipment | 23 | €17,743 | €14,685 | -€3,058 | -17.2% |
| Other tangible fixed assets | 26 | €358,254 | €417,800 | +€59,546 | +16.6% |
| Financial fixed assets | 28 | €2,663,337 | €3,835,331 | +€1.2m | +44.0% |
| Current assets | 29/58 | €613,463 | €1,202,658 | +€589,195 | +96.0% |
| Amounts receivable within one year | 40/41 | €544,999 | €339,465 | -€205,534 | -37.7% |
| Trade receivables | 40 | €61,207 | €121,965 | +€60,758 | +99.3% |
| Other amounts receivable | 41 | €483,792 | €217,500 | -€266,292 | -55.0% |
| Cash at bank and in hand | 54/58 | €68,464 | €855,453 | +€786,989 | +1,149% |
| Deferred charges and accrued income | 490/1 | - | €7,740 | +€7,740 | |
| Total equity and liabilities | 10/49 | €6,158,038 | €10,129,283 | +€4.0m | +64.5% |
| Equity | 10/15 | €2,609,177 | €2,944,328 | +€335,150 | +12.8% |
| Contributions | 10/11 | €2,136,941 | €2,136,941 | = | 0.0% |
| Revaluation surpluses | 12 | €76,049 | €68,396 | -€7,653 | -10.1% |
| Reserves | 13 | €144,330 | €400,375 | +€256,046 | +177% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €256,046 | +€256,046 | |
| Distributable reserves | 133 | €144,330 | €144,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | €251,858 | €338,615 | +€86,757 | +34.4% |
| Provisions and deferred taxes | 16 | - | €85,349 | +€85,349 | |
| Deferred taxes | 168 | - | €85,349 | +€85,349 | |
| Amounts payable | 17/49 | €3,548,861 | €7,099,607 | +€3.6m | +100% |
| Amounts payable after more than one year | 17 | €2,992,091 | €3,488,620 | +€496,530 | +16.6% |
| Financial debts | 170/4 | €2,992,091 | €3,488,620 | +€496,530 | +16.6% |
| Amounts payable within one year | 42/48 | €525,653 | €3,507,583 | +€3.0m | +567% |
| Current portion of amounts payable after more than one year | 42 | €226,584 | €450,084 | +€223,500 | +98.6% |
| Financial debts | 43 | - | €2,647,677 | +€2.6m | |
| Credit institutions | 430/8 | - | €2,647,677 | +€2.6m | |
| Trade debts | 44 | €6,561 | €11,014 | +€4,453 | +67.9% |
| Suppliers | 440/4 | €6,561 | €11,014 | +€4,453 | +67.9% |
| Taxes, remuneration and social security | 45 | €20,120 | €46,809 | +€26,689 | +133% |
| Taxes | 450/3 | €20,120 | €46,809 | +€26,689 | +133% |
| Other amounts payable | 47/48 | €272,388 | €352,000 | +€79,612 | +29.2% |
| Accrued charges and deferred income | 492/3 | €31,117 | €103,403 | +€72,286 | +232% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,238 | €599,174 | +€318,936 | +114% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €632 | €0 | -€632 | -100% |
| Other operating charges | 640/8 | €65,802 | €84,213 | +€18,411 | +28.0% |
| Gross operating margin | 9900 | €428,853 | €1,290,325 | +€861,471 | +201% |
| Operating profit (loss) | 9901 | €82,182 | €606,937 | +€524,756 | +639% |
| Financial income | 75/76B | €176,305 | €2 | -€176,303 | -100.0% |
| Recurring financial income | 75 | €176,305 | €2 | -€176,303 | -100.0% |
| Financial charges | 65/66B | €101,346 | €178,787 | +€77,442 | +76.4% |
| Recurring financial charges | 65 | €101,346 | €178,787 | +€77,442 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €157,141 | €428,152 | +€271,011 | +172% |
| Transfer from deferred taxes | 780 | - | €6,579 | +€6,579 | |
| Transfer to deferred taxes | 680 | - | €91,928 | +€91,928 | |
| Profit (loss) for the period | 9904 | €157,141 | €342,803 | +€185,662 | +118% |
| Transfer from tax-exempt reserves | 789 | - | €19,738 | +€19,738 | |
| Transfer to tax-exempt reserves | 689 | - | €275,784 | +€275,784 | |
| Profit (loss) for the period to be appropriated | 9905 | €157,141 | €86,757 | -€70,383 | -44.8% |
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.