AxHA: 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.
AxHA
Largest movements
- Receivables within one year -€40,922
down €40,922 (-64.8%), from €63,158 to €22,236
of which Trade receivables: -€26,870
- Cash +€26,452
up €26,452 (+227%), from €11,668 to €38,119
mainly Receivables within one year (+€40,922) and Net result for the year (+€29,306)
- Tangible fixed assets -€13,321
down €13,321 (-19.4%), from €68,841 to €55,519
of which Land and buildings: -€6,990
- Other debts -€24,332
down €24,332 (-53.7%), from €45,279 to €20,946
- Profit (loss) carried forward +€9,306
up €9,306 (+52.3%), from €17,805 to €27,111
- Debts after one year -€9,089
down €9,089 (-24.2%), from €37,520 to €28,431
- Tax, wage and social debts -€1,455
down €1,455 (-11.0%), from €13,193 to €11,739
of which Remuneration and social security: -€4,087
- Gross operating margin -€44,090
down €44,090 (-36.4%), from €121,210 to €77,119
- Taxes -€8,919
down €8,919 (-50.6%), from €17,635 to €8,716
- Staff costs -€3,632
down €3,632 (-13.2%), from €27,557 to €23,924
- Financial income -€1,578
down €1,578 (-99.3%), from €1,590 to €12
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 | €144,529 | €117,095 | -€27,434 | -19.0% |
| Fixed assets | 21/28 | €68,841 | €55,519 | -€13,321 | -19.4% |
| Tangible fixed assets | 22/27 | €68,841 | €55,519 | -€13,321 | -19.4% |
| Land and buildings | 22 | €54,075 | €47,085 | -€6,990 | -12.9% |
| Furniture and vehicles | 24 | €14,766 | €8,434 | -€6,332 | -42.9% |
| Current assets | 29/58 | €75,688 | €61,576 | -€14,112 | -18.6% |
| Amounts receivable within one year | 40/41 | €63,158 | €22,236 | -€40,922 | -64.8% |
| Trade receivables | 40 | €41,821 | €14,951 | -€26,870 | -64.2% |
| Other amounts receivable | 41 | €21,337 | €7,284 | -€14,053 | -65.9% |
| Cash at bank and in hand | 54/58 | €11,668 | €38,119 | +€26,452 | +227% |
| Deferred charges and accrued income | 490/1 | €863 | €1,221 | +€358 | +41.5% |
| Total equity and liabilities | 10/49 | €144,529 | €117,095 | -€27,434 | -19.0% |
| Equity | 10/15 | €36,728 | €46,034 | +€9,306 | +25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €323 | €323 | = | 0.0% |
| Distributable reserves | 133 | €323 | €323 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,805 | €27,111 | +€9,306 | +52.3% |
| Amounts payable | 17/49 | €107,801 | €71,061 | -€36,740 | -34.1% |
| Amounts payable after more than one year | 17 | €37,520 | €28,431 | -€9,089 | -24.2% |
| Financial debts | 170/4 | €37,520 | €28,431 | -€9,089 | -24.2% |
| Amounts payable within one year | 42/48 | €70,216 | €42,564 | -€27,652 | -39.4% |
| Current portion of amounts payable after more than one year | 42 | €10,401 | €9,089 | -€1,311 | -12.6% |
| Trade debts | 44 | €1,343 | €790 | -€553 | -41.2% |
| Suppliers | 440/4 | €1,343 | €790 | -€553 | -41.2% |
| Taxes, remuneration and social security | 45 | €13,193 | €11,739 | -€1,455 | -11.0% |
| Taxes | 450/3 | €9,107 | €11,739 | +€2,632 | +28.9% |
| Remuneration and social security | 454/9 | €4,087 | - | -€4,087 | |
| Other amounts payable | 47/48 | €45,279 | €20,946 | -€24,332 | -53.7% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Remuneration, social security and pensions | 62 | €27,557 | €23,924 | -€3,632 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,588 | €13,321 | +€733 | +5.8% |
| Other operating charges | 640/8 | €393 | €458 | +€65 | +16.4% |
| Non-recurring operating charges | 66A | €122 | - | -€122 | |
| Gross operating margin | 9900 | €121,210 | €77,119 | -€44,090 | -36.4% |
| Operating profit (loss) | 9901 | €80,549 | €39,416 | -€41,133 | -51.1% |
| Financial income | 75/76B | €1,590 | €12 | -€1,578 | -99.3% |
| Recurring financial income | 75 | €1,590 | €12 | -€1,578 | -99.3% |
| Financial charges | 65/66B | €1,806 | €1,406 | -€400 | -22.1% |
| Recurring financial charges | 65 | €1,806 | €1,406 | -€400 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €80,334 | €38,022 | -€42,312 | -52.7% |
| Income taxes | 67/77 | €17,635 | €8,716 | -€8,919 | -50.6% |
| Profit (loss) for the period | 9904 | €62,699 | €29,306 | -€33,393 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,699 | €29,306 | -€33,393 | -53.3% |
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.