AXON: 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.
AXON
Largest movements
- Financial fixed assets +€650,000
up €650,000 (+6.4%), from €10.2m to €10.8m
- Receivables within one year +€633,044
up €633,044 (+52.9%), from €1.2m to €1.8m
of which Other amounts receivable: +€1.1m
- Cash -€137,030
down €137,030 (-60.6%), from €226,170 to €89,139
mainly Investment in fixed assets (net) (-€652,048) and Receivables within one year (-€633,044)
- Profit (loss) carried forward +€612,260
up €612,260 (+73.4%), from €834,119 to €1.4m
- Short-term financial debts -€540,000
down €540,000 (-100.0%), from €540,000 to €0
- Current portion of long-term debt +€393,965
up €393,965 (+99.2%), from €397,156 to €791,121
- Debts after one year +€369,608
up €369,608 (+4.7%), from €7.8m to €8.2m
- Other debts +€205,833
up €205,833 (+11.7%), from €1.8m to €2.0m
- Financial income +€383,722
up €383,722 (+211.7%), from €181,268 to €564,990
- Gross operating margin +€175,517
up €175,517 (+91.5%), from €191,898 to €367,415
- Financial charges +€103,125
up €103,125 (+57.1%), from €180,620 to €283,744
- Taxes +€25,685
up €25,685, from -€1,264 to €24,422
- Depreciation +€7,706
up €7,706 (+194.7%), from €3,957 to €11,664
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 | €11,611,791 | €12,748,189 | +€1.1m | +9.8% |
| Fixed assets | 21/28 | €10,188,988 | €10,829,373 | +€640,384 | +6.3% |
| Intangible fixed assets | 21 | €21,699 | €15,076 | -€6,623 | -30.5% |
| Tangible fixed assets | 22/27 | €8,861 | €5,868 | -€2,993 | -33.8% |
| Plant, machinery and equipment | 23 | €8,861 | €5,193 | -€3,668 | -41.4% |
| Furniture and vehicles | 24 | - | €676 | +€676 | |
| Financial fixed assets | 28 | €10,158,429 | €10,808,429 | +€650,000 | +6.4% |
| Current assets | 29/58 | €1,422,802 | €1,918,816 | +€496,014 | +34.9% |
| Amounts receivable within one year | 40/41 | €1,196,633 | €1,829,677 | +€633,044 | +52.9% |
| Trade receivables | 40 | €568,314 | €149,586 | -€418,728 | -73.7% |
| Other amounts receivable | 41 | €628,319 | €1,680,091 | +€1.1m | +167.4% |
| Cash at bank and in hand | 54/58 | €226,170 | €89,139 | -€137,030 | -60.6% |
| Total equity and liabilities | 10/49 | €11,611,791 | €12,748,189 | +€1.1m | +9.8% |
| Equity | 10/15 | €902,869 | €1,515,129 | +€612,260 | +67.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €834,119 | €1,446,379 | +€612,260 | +73.4% |
| Amounts payable | 17/49 | €10,708,922 | €11,233,061 | +€524,139 | +4.9% |
| Amounts payable after more than one year | 17 | €7,828,073 | €8,197,682 | +€369,608 | +4.7% |
| Financial debts | 170/4 | €7,828,073 | €8,197,682 | +€369,608 | +4.7% |
| Amounts payable within one year | 42/48 | €2,880,849 | €3,035,379 | +€154,530 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €397,156 | €791,121 | +€393,965 | +99.2% |
| Financial debts | 43 | €540,000 | €0 | -€540,000 | -100.0% |
| Credit institutions | 430/8 | €540,000 | €0 | -€540,000 | -100.0% |
| Trade debts | 44 | €162,810 | €234,346 | +€71,537 | +43.9% |
| Suppliers | 440/4 | €162,810 | €234,346 | +€71,537 | +43.9% |
| Taxes, remuneration and social security | 45 | €21,691 | €44,887 | +€23,196 | +106.9% |
| Taxes | 450/3 | €21,691 | €44,887 | +€23,196 | +106.9% |
| Other amounts payable | 47/48 | €1,759,192 | €1,965,025 | +€205,833 | +11.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,957 | €11,664 | +€7,706 | +194.7% |
| Other operating charges | 640/8 | €311 | €315 | +€4 | +1.3% |
| Gross operating margin | 9900 | €191,898 | €367,415 | +€175,517 | +91.5% |
| Operating profit (loss) | 9901 | €187,629 | €355,436 | +€167,807 | +89.4% |
| Financial income | 75/76B | €181,268 | €564,990 | +€383,722 | +211.7% |
| Recurring financial income | 75 | €181,268 | €564,990 | +€383,722 | +211.7% |
| Financial charges | 65/66B | €180,620 | €283,744 | +€103,125 | +57.1% |
| Recurring financial charges | 65 | €180,620 | €283,744 | +€103,125 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €188,277 | €636,682 | +€448,405 | +238.2% |
| Income taxes | 67/77 | -€1,264 | €24,422 | +€25,685 | |
| Profit (loss) for the period | 9904 | €189,541 | €612,260 | +€422,719 | +223.0% |
| Profit (loss) for the period to be appropriated | 9905 | €189,541 | €612,260 | +€422,719 | +223.0% |
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.