AXKO: 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.
AXKO
Largest movements
- Cash +€227,731
up €227,731 (+165.4%), from €137,691 to €365,422
mainly Current investments (+€119,118) and Net result for the year (+€97,535)
- Current investments -€119,118
down €119,118 (-66.2%), from €180,000 to €60,882
- Tangible fixed assets -€9,200
down €9,200 (-2.1%), from €438,578 to €429,378
of which Land and buildings: -€18,446
- Reserves +€97,535
up €97,535 (+18.4%), from €531,126 to €628,661
of which Distributable reserves: +€97,535
- Gross operating margin +€20,085
up €20,085 (+12.3%), from €163,098 to €183,183
- Taxes +€12,247
up €12,247 (+35.4%), from €34,637 to €46,885
- Financial income +€3,380
up €3,380 (+17272.6%), from €20 to €3,400
of which Non-recurring financial income: +€2,070
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 | €777,999 | €876,683 | +€98,684 | +12.7% |
| Fixed assets | 21/28 | €438,578 | €429,378 | -€9,200 | -2.1% |
| Tangible fixed assets | 22/27 | €438,578 | €429,378 | -€9,200 | -2.1% |
| Land and buildings | 22 | €404,403 | €385,956 | -€18,446 | -4.6% |
| Plant, machinery and equipment | 23 | €8,442 | €7,158 | -€1,283 | -15.2% |
| Furniture and vehicles | 24 | €25,734 | €36,264 | +€10,529 | +40.9% |
| Current assets | 29/58 | €339,421 | €447,305 | +€107,884 | +31.8% |
| Amounts receivable within one year | 40/41 | €20,149 | €19,360 | -€789 | -3.9% |
| Trade receivables | 40 | €20,149 | €19,360 | -€789 | -3.9% |
| Current investments | 50/53 | €180,000 | €60,882 | -€119,118 | -66.2% |
| Cash at bank and in hand | 54/58 | €137,691 | €365,422 | +€227,731 | +165.4% |
| Deferred charges and accrued income | 490/1 | €1,581 | €1,641 | +€60 | +3.8% |
| Total equity and liabilities | 10/49 | €777,999 | €876,683 | +€98,684 | +12.7% |
| Equity | 10/15 | €749,726 | €847,261 | +€97,535 | +13.0% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Revaluation surpluses | 12 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €531,126 | €628,661 | +€97,535 | +18.4% |
| Non-distributable reserves | 130/1 | €11,860 | €11,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,860 | €11,860 | = | 0.0% |
| Distributable reserves | 133 | €519,266 | €616,801 | +€97,535 | +18.8% |
| Amounts payable | 17/49 | €28,273 | €29,422 | +€1,148 | +4.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €28,273 | €29,422 | +€1,148 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €4,866 | €0 | -€4,866 | -100.0% |
| Trade debts | 44 | €4,173 | €4,817 | +€644 | +15.4% |
| Suppliers | 440/4 | €4,173 | €4,817 | +€644 | +15.4% |
| Taxes, remuneration and social security | 45 | €12,686 | €11,637 | -€1,048 | -8.3% |
| Taxes | 450/3 | €12,686 | €11,637 | -€1,048 | -8.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,548 | €12,968 | +€6,419 | +98.0% |
| Remuneration, social security and pensions | 62 | €2,358 | €986 | -€1,372 | -58.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,914 | €35,748 | -€166 | -0.5% |
| Other operating charges | 640/8 | €5,374 | €4,742 | -€632 | -11.8% |
| Gross operating margin | 9900 | €163,098 | €183,183 | +€20,085 | +12.3% |
| Operating profit (loss) | 9901 | €119,453 | €141,707 | +€22,254 | +18.6% |
| Financial income | 75/76B | €20 | €3,400 | +€3,380 | +17272.6% |
| Recurring financial income | 75 | €20 | €1,330 | +€1,310 | +6695.2% |
| Non-recurring financial income | 76B | €0 | €2,070 | +€2,070 | |
| Financial charges | 65/66B | €532 | €686 | +€154 | +29.0% |
| Recurring financial charges | 65 | €532 | €686 | +€154 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €118,940 | €144,420 | +€25,480 | +21.4% |
| Income taxes | 67/77 | €34,637 | €46,885 | +€12,247 | +35.4% |
| Profit (loss) for the period | 9904 | €84,303 | €97,535 | +€13,233 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,303 | €97,535 | +€13,233 | +15.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.