AXON: 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.
AXON
Largest movements
- Cash +€35,884
up €35,884 (+36.4%), from €98,560 to €134,444
mainly Depreciation (+€33,783) and Short-term financial debts (+€18,970)
- Tangible fixed assets -€18,172
down €18,172 (-5.3%), from €344,479 to €326,306
of which Land and buildings: -€16,508
- Intangible fixed assets -€14,860
down €14,860 (-47.1%), from €31,581 to €16,721
- Receivables within one year -€13,173
down €13,173 (-7.6%), from €173,628 to €160,455
of which Trade receivables: -€9,242
- Deferred charges and accrued income -€13,165
down €13,165 (-83.0%), from €15,852 to €2,687
- Current portion of long-term debt -€30,328
down €30,328 (-51.9%), from €58,428 to €28,101
- Short-term financial debts +€18,970
up €18,970 (+1,841%), from €1,030 to €20,000
- Debts after one year -€17,834
down €17,834 (-5.8%), from €307,172 to €289,338
- Staff costs -€32,186
down €32,186 (-8.1%), from €395,208 to €363,023
- Gross operating margin -€17,181
down €17,181 (-3.8%), from €456,266 to €439,086
- Depreciation -€16,521
down €16,521 (-32.8%), from €50,304 to €33,783
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 | €668,599 | €645,113 | -€23,487 | -3.5% |
| Fixed assets | 21/28 | €380,560 | €347,527 | -€33,033 | -8.7% |
| Intangible fixed assets | 21 | €31,581 | €16,721 | -€14,860 | -47.1% |
| Tangible fixed assets | 22/27 | €344,479 | €326,306 | -€18,172 | -5.3% |
| Land and buildings | 22 | €340,081 | €323,574 | -€16,508 | -4.9% |
| Plant, machinery and equipment | 23 | €4,397 | €2,733 | -€1,665 | -37.9% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €288,040 | €297,586 | +€9,546 | +3.3% |
| Amounts receivable within one year | 40/41 | €173,628 | €160,455 | -€13,173 | -7.6% |
| Trade receivables | 40 | €152,106 | €142,864 | -€9,242 | -6.1% |
| Other amounts receivable | 41 | €21,522 | €17,591 | -€3,931 | -18.3% |
| Cash at bank and in hand | 54/58 | €98,560 | €134,444 | +€35,884 | +36.4% |
| Deferred charges and accrued income | 490/1 | €15,852 | €2,687 | -€13,165 | -83.0% |
| Total equity and liabilities | 10/49 | €668,599 | €645,113 | -€23,487 | -3.5% |
| Equity | 10/15 | €155,797 | €160,577 | +€4,780 | +3.1% |
| Contributions | 10/11 | €105,892 | €105,892 | = | 0.0% |
| Reserves | 13 | €23,449 | €23,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,306 | €3,306 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,306 | €3,306 | = | 0.0% |
| Distributable reserves | 133 | €20,144 | €20,144 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,456 | €31,236 | +€4,780 | +18.1% |
| Amounts payable | 17/49 | €512,803 | €484,536 | -€28,267 | -5.5% |
| Amounts payable after more than one year | 17 | €307,172 | €289,338 | -€17,834 | -5.8% |
| Financial debts | 170/4 | €307,172 | €289,338 | -€17,834 | -5.8% |
| Amounts payable within one year | 42/48 | €205,630 | €195,197 | -€10,433 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €58,428 | €28,101 | -€30,328 | -51.9% |
| Financial debts | 43 | €1,030 | €20,000 | +€18,970 | +1,841% |
| Credit institutions | 430/8 | €1,030 | €20,000 | +€18,970 | +1,841% |
| Trade debts | 44 | €93,621 | €95,873 | +€2,252 | +2.4% |
| Suppliers | 440/4 | €93,621 | €95,873 | +€2,252 | +2.4% |
| Taxes, remuneration and social security | 45 | €51,757 | €51,224 | -€533 | -1.0% |
| Taxes | 450/3 | €957 | €6,674 | +€5,717 | +597% |
| Remuneration and social security | 454/9 | €50,800 | €44,550 | -€6,250 | -12.3% |
| Other amounts payable | 47/48 | €793 | - | -€793 | |
| Remuneration, social security and pensions | 62 | €395,208 | €363,023 | -€32,186 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,304 | €33,783 | -€16,521 | -32.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,753 | €18,753 | = | 0.0% |
| Other operating charges | 640/8 | €152 | €3,658 | +€3,506 | +2,307% |
| Gross operating margin | 9900 | €456,266 | €439,086 | -€17,181 | -3.8% |
| Operating profit (loss) | 9901 | -€8,151 | €19,869 | +€28,020 | |
| Financial income | 75/76B | €62 | €118 | +€57 | +91.8% |
| Recurring financial income | 75 | €62 | €118 | +€57 | +91.8% |
| Financial charges | 65/66B | €10,584 | €15,041 | +€4,457 | +42.1% |
| Recurring financial charges | 65 | €10,584 | €15,041 | +€4,457 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,673 | €4,946 | +€23,620 | |
| Income taxes | 67/77 | €128 | €166 | +€38 | +29.6% |
| Profit (loss) for the period | 9904 | -€18,801 | €4,780 | +€23,582 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,801 | €4,780 | +€23,582 |
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 22 October 2026 via checked.be.