AXG: what changed
Two fiscal 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.
AXG
Largest movements
- Receivables within one year -€15,101
down €15,101 (-95.0%), from €15,896 to €795
of which Trade receivables: -€13,750
- Cash +€8,601
up €8,601 (+6364.9%), from €135 to €8,736
mainly Receivables within one year (+€15,101) and Other debts (+€3,242)
- Stocks and contracts +€4,584
up €4,584 (+8.6%), from €53,431 to €58,015
- Trade debts -€4,776
down €4,776 (-89.1%), from €5,363 to €587
- Other debts +€3,242
up €3,242 (+12.1%), from €26,812 to €30,055
- Profit (loss) carried forward -€1,060
down €1,060 (-9.0%), from €11,779 to €10,719
- Tax, wage and social debts +€980
up €980 (+17.5%), from €5,609 to €6,590
- Gross operating margin -€1,600
down €1,600 (-62.7%), from €2,550 to €950
- Depreciation +€651
up €651 (+1790.6%), from €36 to €687
- Financial charges -€650
down €650 (-68.6%), from €947 to €298
- Taxes -€346
no longer reported in 2025 (was €346)
- Other operating charges +€299
up €299 (+42.1%), from €711 to €1,011
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 | €73,965 | €72,352 | -€1,613 | -2.2% |
| Fixed assets | 21/28 | €3,746 | €4,046 | +€300 | +8.0% |
| Tangible fixed assets | 22/27 | €2,006 | €2,306 | +€300 | +15.0% |
| Plant, machinery and equipment | 23 | €2,006 | €1,495 | -€511 | -25.5% |
| Furniture and vehicles | 24 | - | €811 | +€811 | |
| Financial fixed assets | 28 | €1,740 | €1,740 | = | 0.0% |
| Current assets | 29/58 | €70,219 | €68,306 | -€1,914 | -2.7% |
| Stocks and contracts in progress | 3 | €53,431 | €58,015 | +€4,584 | +8.6% |
| Stocks | 30/36 | €53,431 | €58,015 | +€4,584 | +8.6% |
| Amounts receivable within one year | 40/41 | €15,896 | €795 | -€15,101 | -95.0% |
| Trade receivables | 40 | €14,545 | €795 | -€13,750 | -94.5% |
| Other amounts receivable | 41 | €1,351 | - | -€1,351 | |
| Cash at bank and in hand | 54/58 | €135 | €8,736 | +€8,601 | +6364.9% |
| Deferred charges and accrued income | 490/1 | €757 | €759 | +€2 | +0.3% |
| Total equity and liabilities | 10/49 | €73,965 | €72,352 | -€1,613 | -2.2% |
| Equity | 10/15 | €16,181 | €15,121 | -€1,060 | -6.5% |
| Contributions | 10/11 | €4,001 | €4,001 | = | 0.0% |
| Reserves | 13 | €401 | €401 | = | 0.0% |
| Non-distributable reserves | 130/1 | €401 | €401 | = | 0.0% |
| Reserves not available under the articles | 1311 | €401 | €401 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,779 | €10,719 | -€1,060 | -9.0% |
| Amounts payable | 17/49 | €57,784 | €57,231 | -€554 | -1.0% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,784 | €37,231 | -€554 | -1.5% |
| Trade debts | 44 | €5,363 | €587 | -€4,776 | -89.1% |
| Suppliers | 440/4 | €5,363 | €587 | -€4,776 | -89.1% |
| Taxes, remuneration and social security | 45 | €5,609 | €6,590 | +€980 | +17.5% |
| Taxes | 450/3 | €5,609 | €6,590 | +€980 | +17.5% |
| Other amounts payable | 47/48 | €26,812 | €30,055 | +€3,242 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36 | €687 | +€651 | +1790.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€48 | €15 | +€63 | |
| Other operating charges | 640/8 | €711 | €1,011 | +€299 | +42.1% |
| Gross operating margin | 9900 | €2,550 | €950 | -€1,600 | -62.7% |
| Operating profit (loss) | 9901 | €1,850 | -€763 | -€2,613 | |
| Financial income | 75/76B | €11 | €1 | -€11 | -94.6% |
| Recurring financial income | 75 | €11 | €1 | -€11 | -94.6% |
| Financial charges | 65/66B | €947 | €298 | -€650 | -68.6% |
| Recurring financial charges | 65 | €947 | €298 | -€650 | -68.6% |
| Profit (loss) for the period before taxes | 9903 | €914 | -€1,060 | -€1,974 | |
| Income taxes | 67/77 | €346 | - | -€346 | |
| Profit (loss) for the period | 9904 | €568 | -€1,060 | -€1,628 | |
| Profit (loss) for the period to be appropriated | 9905 | €568 | -€1,060 | -€1,628 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.