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
- Financial fixed assets -€234,421
down €234,421 (-100.0%), from €234,421 to €0
- Receivables after one year +€228,746
new in 2025: €228,746
- Cash +€103,496
up €103,496 (+39.6%), from €261,091 to €364,587
mainly Investment in fixed assets (net) (+€230,381) and Net result for the year (+€206,992)
- Tangible fixed assets -€25,848
down €25,848 (-6.8%), from €380,999 to €355,151
of which Land and buildings: -€28,088
- Receivables within one year +€15,005
up €15,005 (+219.4%), from €6,838 to €21,843
of which Other amounts receivable: +€20,421
- Profit (loss) carried forward +€206,992
up €206,992, from -€20,450 to €186,542
- Short-term financial debts -€116,226
down €116,226 (-80.0%), from €145,230 to €29,004
of which Other loans: -€88,222
- Tax, wage and social debts -€29,390
no longer reported in 2025 (was €29,390)
- Current portion of long-term debt +€28,368
new in 2025: €28,368
- Debts after one year -€28,367
down €28,367 (-6.2%), from €455,050 to €426,683
- Gross operating margin +€43,704
up €43,704 (+23.2%), from €188,651 to €232,355
- Taxes -€31,965
down €31,965, from €22,000 to -€9,965
- Depreciation -€18,758
down €18,758 (-38.6%), from €48,646 to €29,888
- Other operating charges -€7,688
down €7,688 (-68.7%), from €11,190 to €3,502
- Financial income +€4,383
up €4,383 (+17532.0%), from €25 to €4,408
of which Financial income: +€2,519
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 | €883,349 | €970,327 | +€86,978 | +9.8% |
| Fixed assets | 21/28 | €615,420 | €355,151 | -€260,269 | -42.3% |
| Tangible fixed assets | 22/27 | €380,999 | €355,151 | -€25,848 | -6.8% |
| Land and buildings | 22 | €380,893 | €352,805 | -€28,088 | -7.4% |
| Furniture and vehicles | 24 | €106 | €2,346 | +€2,240 | +2113.2% |
| Financial fixed assets | 28 | €234,421 | €0 | -€234,421 | -100.0% |
| Current assets | 29/58 | €267,929 | €615,176 | +€347,247 | +129.6% |
| Amounts receivable after more than one year | 29 | - | €228,746 | +€228,746 | |
| Other amounts receivable | 291 | - | €228,746 | +€228,746 | |
| Amounts receivable within one year | 40/41 | €6,838 | €21,843 | +€15,005 | +219.4% |
| Trade receivables | 40 | €6,838 | €1,422 | -€5,416 | -79.2% |
| Other amounts receivable | 41 | - | €20,421 | +€20,421 | |
| Cash at bank and in hand | 54/58 | €261,091 | €364,587 | +€103,496 | +39.6% |
| Total equity and liabilities | 10/49 | €883,349 | €970,327 | +€86,978 | +9.8% |
| Equity | 10/15 | €213,750 | €420,742 | +€206,992 | +96.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €224,200 | €224,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €140,000 | €140,000 | = | 0.0% |
| Other | 1319 | €140,000 | €140,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,450 | €186,542 | +€206,992 | |
| Amounts payable | 17/49 | €669,599 | €549,585 | -€120,014 | -17.9% |
| Amounts payable after more than one year | 17 | €455,050 | €426,683 | -€28,367 | -6.2% |
| Financial debts | 170/4 | €455,050 | €426,683 | -€28,367 | -6.2% |
| Amounts payable within one year | 42/48 | €214,549 | €122,902 | -€91,647 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | - | €28,368 | +€28,368 | |
| Financial debts | 43 | €145,230 | €29,004 | -€116,226 | -80.0% |
| Credit institutions | 430/8 | €28,004 | - | -€28,004 | |
| Other loans | 439 | €117,226 | €29,004 | -€88,222 | -75.3% |
| Trade debts | 44 | €39,929 | €40,530 | +€601 | +1.5% |
| Suppliers | 440/4 | €39,929 | €40,530 | +€601 | +1.5% |
| Taxes, remuneration and social security | 45 | €29,390 | - | -€29,390 | |
| Taxes | 450/3 | €29,390 | - | -€29,390 | |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,646 | €29,888 | -€18,758 | -38.6% |
| Other operating charges | 640/8 | €11,190 | €3,502 | -€7,688 | -68.7% |
| Gross operating margin | 9900 | €188,651 | €232,355 | +€43,704 | +23.2% |
| Operating profit (loss) | 9901 | €128,815 | €198,965 | +€70,150 | +54.5% |
| Financial income | 75/76B | €25 | €4,408 | +€4,383 | +17532.0% |
| Recurring financial income | 75 | €25 | €2,544 | +€2,519 | +10076.0% |
| Non-recurring financial income | 76B | - | €1,864 | +€1,864 | |
| Financial charges | 65/66B | €6,916 | €6,346 | -€570 | -8.2% |
| Recurring financial charges | 65 | €6,916 | €6,346 | -€570 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €121,924 | €197,027 | +€75,103 | +61.6% |
| Income taxes | 67/77 | €22,000 | -€9,965 | -€31,965 | |
| Profit (loss) for the period | 9904 | €99,924 | €206,992 | +€107,068 | +107.1% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,724 | €206,992 | +€191,268 | +1216.4% |
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 8 October 2026 via checked.be.