AXIPHAR: 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.
AXIPHAR
Largest movements
- Cash +€79,340
up €79,340 (+77.9%), from €101,817 to €181,157
mainly Net result for the year (+€62,527) and Receivables within one year (+€16,224)
- Receivables within one year -€16,224
down €16,224 (-19.9%), from €81,342 to €65,118
of which Trade receivables: -€20,612
- Tangible fixed assets -€8,334
down €8,334 (-7.8%), from €107,049 to €98,714
of which Land and buildings: -€6,757
- Reserves +€62,527
up €62,527 (+28.0%), from €223,633 to €286,160
- Debts after one year -€14,320
down €14,320 (-53.4%), from €26,798 to €12,478
- Tax, wage and social debts +€5,620
up €5,620 (+30.9%), from €18,194 to €23,814
of which Taxes: +€4,709
- Gross operating margin +€43,168
up €43,168 (+34.6%), from €124,760 to €167,928
- Taxes +€9,686
up €9,686 (+62.2%), from €15,565 to €25,250
- Staff costs +€6,618
up €6,618 (+12.1%), from €54,474 to €61,092
- Other operating charges -€2,318
down €2,318 (-47.8%), from €4,848 to €2,530
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.
Derived cash bridge
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 | €307,814 | €363,493 | +€55,680 | +18.1% |
| Fixed assets | 21/28 | €107,587 | €99,252 | -€8,334 | -7.7% |
| Tangible fixed assets | 22/27 | €107,049 | €98,714 | -€8,334 | -7.8% |
| Land and buildings | 22 | €95,780 | €89,023 | -€6,757 | -7.1% |
| Plant, machinery and equipment | 23 | €6,179 | €5,712 | -€467 | -7.6% |
| Furniture and vehicles | 24 | €1,929 | €1,187 | -€742 | -38.5% |
| Other tangible fixed assets | 26 | €3,160 | €2,792 | -€368 | -11.6% |
| Financial fixed assets | 28 | €538 | €538 | = | 0.0% |
| Current assets | 29/58 | €200,227 | €264,241 | +€64,014 | +32.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €81,342 | €65,118 | -€16,224 | -19.9% |
| Trade receivables | 40 | €72,432 | €51,820 | -€20,612 | -28.5% |
| Other amounts receivable | 41 | €8,910 | €13,298 | +€4,388 | +49.3% |
| Current investments | 50/53 | €14,981 | €14,981 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €101,817 | €181,157 | +€79,340 | +77.9% |
| Deferred charges and accrued income | 490/1 | €2,087 | €2,985 | +€898 | +43.0% |
| Total equity and liabilities | 10/49 | €307,814 | €363,493 | +€55,680 | +18.1% |
| Equity | 10/15 | €229,833 | €292,360 | +€62,527 | +27.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €223,633 | €286,160 | +€62,527 | +28.0% |
| Distributable reserves | 133 | €223,633 | €286,160 | +€62,527 | +28.0% |
| Amounts payable | 17/49 | €77,980 | €71,133 | -€6,847 | -8.8% |
| Amounts payable after more than one year | 17 | €26,798 | €12,478 | -€14,320 | -53.4% |
| Financial debts | 170/4 | €26,798 | €12,478 | -€14,320 | -53.4% |
| Amounts payable within one year | 42/48 | €50,083 | €57,555 | +€7,472 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €14,743 | €15,482 | +€739 | +5.0% |
| Trade debts | 44 | €17,146 | €18,259 | +€1,113 | +6.5% |
| Suppliers | 440/4 | €17,146 | €18,259 | +€1,113 | +6.5% |
| Taxes, remuneration and social security | 45 | €18,194 | €23,814 | +€5,620 | +30.9% |
| Taxes | 450/3 | €10,593 | €15,302 | +€4,709 | +44.5% |
| Remuneration and social security | 454/9 | €7,601 | €8,512 | +€911 | +12.0% |
| Accrued charges and deferred income | 492/3 | €1,100 | €1,100 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €54,474 | €61,092 | +€6,618 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,523 | €11,696 | +€173 | +1.5% |
| Other operating charges | 640/8 | €4,848 | €2,530 | -€2,318 | -47.8% |
| Gross operating margin | 9900 | €124,760 | €167,928 | +€43,168 | +34.6% |
| Operating profit (loss) | 9901 | €53,915 | €92,611 | +€38,696 | +71.8% |
| Financial income | 75/76B | €915 | €1,425 | +€510 | +55.7% |
| Recurring financial income | 75 | €915 | €1,425 | +€510 | +55.7% |
| Financial charges | 65/66B | €5,525 | €6,258 | +€734 | +13.3% |
| Recurring financial charges | 65 | €5,525 | €6,258 | +€734 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €49,305 | €87,778 | +€38,472 | +78.0% |
| Income taxes | 67/77 | €15,565 | €25,250 | +€9,686 | +62.2% |
| Profit (loss) for the period | 9904 | €33,741 | €62,527 | +€28,786 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,741 | €62,527 | +€28,786 | +85.3% |
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 23 October 2026 via checked.be.