AXETO: 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.
AXETO
Largest movements
- Cash -€88,681
down €88,681 (-62.5%), from €141,813 to €53,133
mainly Contributions, distributions and other (-€96,984) and Other debts (-€64,892)
- Tangible fixed assets +€50,983
up €50,983 (+1948.0%), from €2,617 to €53,601
of which Land and buildings: +€51,521
- Receivables within one year +€3,799
up €3,799 (+20.7%), from €18,372 to €22,172
of which Trade receivables: +€2,733
- Other debts -€64,892
down €64,892 (-91.4%), from €71,017 to €6,126
- Debts after one year +€64,728
up €64,728 (+296.3%), from €21,848 to €86,576
- Reserves -€21,919
down €21,919 (-22.6%), from €96,984 to €75,066
- Tax, wage and social debts -€12,122
down €12,122 (-56.1%), from €21,606 to €9,484
- Gross operating margin +€2,665
up €2,665 (+2.8%), from €95,134 to €97,800
- Depreciation +€1,549
up €1,549 (+271.9%), from €570 to €2,119
- Taxes -€1,066
down €1,066 (-5.4%), from €19,778 to €18,711
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,475 | €194,555 | -€33,920 | -14.8% |
| Fixed assets | 21/28 | €3,115 | €54,099 | +€50,983 | +1636.6% |
| Tangible fixed assets | 22/27 | €2,617 | €53,601 | +€50,983 | +1948.0% |
| Land and buildings | 22 | - | €51,521 | +€51,521 | |
| Plant, machinery and equipment | 23 | €2,173 | €1,880 | -€293 | -13.5% |
| Furniture and vehicles | 24 | €445 | €199 | -€245 | -55.1% |
| Financial fixed assets | 28 | €498 | €498 | = | 0.0% |
| Current assets | 29/58 | €225,359 | €140,456 | -€84,903 | -37.7% |
| Amounts receivable after more than one year | 29 | €62,250 | €62,250 | = | 0.0% |
| Trade receivables | 290 | €62,250 | €62,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,372 | €22,172 | +€3,799 | +20.7% |
| Trade receivables | 40 | €18,150 | €20,883 | +€2,733 | +15.1% |
| Other amounts receivable | 41 | €222 | €1,289 | +€1,066 | +480.1% |
| Cash at bank and in hand | 54/58 | €141,813 | €53,133 | -€88,681 | -62.5% |
| Deferred charges and accrued income | 490/1 | €2,924 | €2,902 | -€22 | -0.8% |
| Total equity and liabilities | 10/49 | €228,475 | €194,555 | -€33,920 | -14.8% |
| Equity | 10/15 | €98,484 | €76,566 | -€21,919 | -22.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €96,984 | €75,066 | -€21,919 | -22.6% |
| Distributable reserves | 133 | €96,984 | €75,066 | -€21,919 | -22.6% |
| Amounts payable | 17/49 | €129,990 | €117,989 | -€12,001 | -9.2% |
| Amounts payable after more than one year | 17 | €21,848 | €86,576 | +€64,728 | +296.3% |
| Financial debts | 170/4 | €21,848 | €86,576 | +€64,728 | +296.3% |
| Amounts payable within one year | 42/48 | €108,142 | €31,413 | -€76,730 | -71.0% |
| Current portion of amounts payable after more than one year | 42 | €14,577 | €15,272 | +€695 | +4.8% |
| Trade debts | 44 | €941 | €531 | -€410 | -43.6% |
| Suppliers | 440/4 | €941 | €531 | -€410 | -43.6% |
| Taxes, remuneration and social security | 45 | €21,606 | €9,484 | -€12,122 | -56.1% |
| Taxes | 450/3 | €21,606 | €9,484 | -€12,122 | -56.1% |
| Other amounts payable | 47/48 | €71,017 | €6,126 | -€64,892 | -91.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570 | €2,119 | +€1,549 | +271.9% |
| Other operating charges | 640/8 | €275 | €291 | +€16 | +6.0% |
| Non-recurring operating charges | 66A | €499 | - | -€499 | |
| Gross operating margin | 9900 | €95,134 | €97,800 | +€2,665 | +2.8% |
| Operating profit (loss) | 9901 | €93,791 | €95,389 | +€1,599 | +1.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,409 | €1,612 | +€203 | +14.4% |
| Recurring financial charges | 65 | €1,409 | €1,612 | +€203 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €92,382 | €93,777 | +€1,395 | +1.5% |
| Income taxes | 67/77 | €19,778 | €18,711 | -€1,066 | -5.4% |
| Profit (loss) for the period | 9904 | €72,604 | €75,066 | +€2,462 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,604 | €75,066 | +€2,462 | +3.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.