AXLI: 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.
AXLI
Largest movements
- Cash -€95,615
down €95,615 (-79.2%), from €120,796 to €25,181
mainly Contributions, distributions and other (-€45,333) and Current investments (-€23,265)
- Current investments +€23,265
up €23,265 (+5.3%), from €439,679 to €462,944
- Financial fixed assets +€20,333
up €20,333 (+19.2%), from €105,905 to €126,238
- Reserves -€45,333
down €45,333 (-5.2%), from €870,385 to €825,052
- Profit (loss) carried forward -€15,083
down €15,083 (-112%), from -€13,430 to -€28,513
- Gross operating margin -€80,253
down €80,253, from €51,059 to -€29,194
- Financial charges -€80,078
down €80,078 (-99.7%), from €80,349 to €270
of which Non-recurring financial charges: -€80,000
- Financial income -€40,896
down €40,896 (-71.5%), from €57,220 to €16,323
- Taxes -€2,872
down €2,872 (-92.2%), from €3,114 to €242
- Other operating charges +€517
up €517 (+86.0%), from €601 to €1,118
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 | €880,839 | €822,435 | -€58,404 | -6.6% |
| Fixed assets | 21/28 | €300,418 | €320,169 | +€19,751 | +6.6% |
| Tangible fixed assets | 22/27 | €194,513 | €193,931 | -€582 | -0.3% |
| Land and buildings | 22 | €190,640 | €190,640 | = | 0.0% |
| Furniture and vehicles | 24 | €3,873 | €3,291 | -€582 | -15.0% |
| Financial fixed assets | 28 | €105,905 | €126,238 | +€20,333 | +19.2% |
| Current assets | 29/58 | €580,421 | €502,266 | -€78,155 | -13.5% |
| Amounts receivable after more than one year | 29 | €2,500 | €1,953 | -€547 | -21.9% |
| Other amounts receivable | 291 | €2,500 | €1,953 | -€547 | -21.9% |
| Amounts receivable within one year | 40/41 | €2,256 | €4,384 | +€2,129 | +94.4% |
| Trade receivables | 40 | - | €4,326 | +€4,326 | |
| Other amounts receivable | 41 | €2,256 | €58 | -€2,197 | -97.4% |
| Current investments | 50/53 | €439,679 | €462,944 | +€23,265 | +5.3% |
| Cash at bank and in hand | 54/58 | €120,796 | €25,181 | -€95,615 | -79.2% |
| Deferred charges and accrued income | 490/1 | €15,190 | €7,803 | -€7,387 | -48.6% |
| Total equity and liabilities | 10/49 | €880,839 | €822,435 | -€58,404 | -6.6% |
| Equity | 10/15 | €876,954 | €816,539 | -€60,416 | -6.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €870,385 | €825,052 | -€45,333 | -5.2% |
| Distributable reserves | 133 | €870,385 | €825,052 | -€45,333 | -5.2% |
| Profit (loss) carried forward | 14 | -€13,430 | -€28,513 | -€15,083 | -112% |
| Amounts payable | 17/49 | €3,885 | €5,896 | +€2,012 | +51.8% |
| Amounts payable within one year | 42/48 | €3,885 | €5,896 | +€2,012 | +51.8% |
| Trade debts | 44 | €2,145 | €1,962 | -€182 | -8.5% |
| Suppliers | 440/4 | €2,145 | €1,962 | -€182 | -8.5% |
| Taxes, remuneration and social security | 45 | €1,093 | €607 | -€486 | -44.5% |
| Taxes | 450/3 | €1,093 | €607 | -€486 | -44.5% |
| Other amounts payable | 47/48 | €648 | €3,327 | +€2,680 | +414% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €994 | €582 | -€411 | -41.4% |
| Other operating charges | 640/8 | €601 | €1,118 | +€517 | +86.0% |
| Gross operating margin | 9900 | €51,059 | -€29,194 | -€80,253 | |
| Operating profit (loss) | 9901 | €49,464 | -€30,895 | -€80,359 | |
| Financial income | 75/76B | €57,220 | €16,323 | -€40,896 | -71.5% |
| Recurring financial income | 75 | €57,220 | €16,323 | -€40,896 | -71.5% |
| Financial charges | 65/66B | €80,349 | €270 | -€80,078 | -99.7% |
| Recurring financial charges | 65 | €349 | €270 | -€78 | -22.5% |
| Non-recurring financial charges | 66B | €80,000 | - | -€80,000 | |
| Profit (loss) for the period before taxes | 9903 | €26,335 | -€14,842 | -€41,177 | |
| Income taxes | 67/77 | €3,114 | €242 | -€2,872 | -92.2% |
| Profit (loss) for the period | 9904 | €23,222 | -€15,083 | -€38,305 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,222 | -€15,083 | -€38,305 |
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.