AXIS: 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.
AXIS
Largest movements
- Tangible fixed assets -€82,968
down €82,968 (-9.6%), from €861,539 to €778,571
of which Land and buildings: -€49,921
- Cash -€35,388
down €35,388 (-96.1%), from €36,843 to €1,455
mainly Net result for the year (-€155,177) and Receivables within one year (-€11,495)
- Profit (loss) carried forward -€155,177
down €155,177 (-19.5%), from -€796,307 to -€951,484
- Debts after one year +€38,835
up €38,835 (+1.7%), from €2.2m to €2.3m
of which Other amounts payable: +€62,500
- Gross operating margin -€106,954
down €106,954, from €45,007 to -€61,947
- Depreciation +€8,693
up €8,693 (+11.5%), from €75,691 to €84,385
- Other operating charges +€1,317
up €1,317 (+22.6%), from €5,836 to €7,152
- Financial charges -€621
down €621 (-15.3%), from €4,062 to €3,441
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 | €1,565,110 | €1,460,532 | -€104,577 | -6.7% |
| Fixed assets | 21/28 | €868,835 | €785,867 | -€82,968 | -9.5% |
| Tangible fixed assets | 22/27 | €861,539 | €778,571 | -€82,968 | -9.6% |
| Land and buildings | 22 | €661,861 | €611,940 | -€49,921 | -7.5% |
| Plant, machinery and equipment | 23 | €145,735 | €122,551 | -€23,184 | -15.9% |
| Furniture and vehicles | 24 | €26,898 | €20,214 | -€6,684 | -24.8% |
| Other tangible fixed assets | 26 | €27,045 | €23,866 | -€3,179 | -11.8% |
| Financial fixed assets | 28 | €7,296 | €7,296 | = | 0.0% |
| Current assets | 29/58 | €696,274 | €674,665 | -€21,609 | -3.1% |
| Stocks and contracts in progress | 3 | €447,222 | €449,304 | +€2,082 | +0.5% |
| Stocks | 30/36 | €447,222 | €449,304 | +€2,082 | +0.5% |
| Amounts receivable within one year | 40/41 | €211,972 | €223,468 | +€11,495 | +5.4% |
| Trade receivables | 40 | €10,196 | €16,916 | +€6,720 | +65.9% |
| Other amounts receivable | 41 | €201,776 | €206,551 | +€4,775 | +2.4% |
| Cash at bank and in hand | 54/58 | €36,843 | €1,455 | -€35,388 | -96.1% |
| Deferred charges and accrued income | 490/1 | €237 | €439 | +€202 | +85.3% |
| Total equity and liabilities | 10/49 | €1,565,110 | €1,460,532 | -€104,577 | -6.7% |
| Equity | 10/15 | -€704,958 | -€860,135 | -€155,177 | -22.0% |
| Contributions | 10/11 | €83,044 | €83,044 | = | 0.0% |
| Reserves | 13 | €8,304 | €8,304 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,304 | €8,304 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,304 | €8,304 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€796,307 | -€951,484 | -€155,177 | -19.5% |
| Amounts payable | 17/49 | €2,270,067 | €2,320,667 | +€50,600 | +2.2% |
| Amounts payable after more than one year | 17 | €2,233,271 | €2,272,106 | +€38,835 | +1.7% |
| Financial debts | 170/4 | €174,271 | €150,606 | -€23,665 | -13.6% |
| Other amounts payable | 178/9 | €2,059,000 | €2,121,500 | +€62,500 | +3.0% |
| Amounts payable within one year | 42/48 | €36,796 | €48,561 | +€11,765 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €23,273 | €23,665 | +€392 | +1.7% |
| Trade debts | 44 | €3,799 | €12,267 | +€8,468 | +222.9% |
| Suppliers | 440/4 | €3,799 | €12,267 | +€8,468 | +222.9% |
| Advances received on contracts in progress | 46 | - | €3,063 | +€3,063 | |
| Taxes, remuneration and social security | 45 | €6,133 | €2,373 | -€3,760 | -61.3% |
| Taxes | 450/3 | €4,041 | €267 | -€3,774 | -93.4% |
| Remuneration and social security | 454/9 | €2,092 | €2,106 | +€14 | +0.7% |
| Other amounts payable | 47/48 | €3,591 | €7,193 | +€3,602 | +100.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,691 | €84,385 | +€8,693 | +11.5% |
| Other operating charges | 640/8 | €5,836 | €7,152 | +€1,317 | +22.6% |
| Gross operating margin | 9900 | €45,007 | -€61,947 | -€106,954 | |
| Operating profit (loss) | 9901 | -€36,520 | -€153,484 | -€116,965 | -320.3% |
| Financial income | 75/76B | €2,004 | €2,014 | +€10 | +0.5% |
| Recurring financial income | 75 | €2,004 | €2,014 | +€10 | +0.5% |
| Financial charges | 65/66B | €4,062 | €3,441 | -€621 | -15.3% |
| Recurring financial charges | 65 | €4,062 | €3,441 | -€621 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€38,578 | -€154,911 | -€116,333 | -301.6% |
| Income taxes | 67/77 | €257 | €267 | +€9 | +3.6% |
| Profit (loss) for the period | 9904 | -€38,835 | -€155,177 | -€116,343 | -299.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,835 | -€155,177 | -€116,343 | -299.6% |
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 5 October 2026 via checked.be.