AXSI: 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.
AXSI
Largest movements
- Cash -€50,935
down €50,935 (-59.2%), from €85,987 to €35,052
mainly Receivables within one year (-€39,296) and Trade debts (-€14,702)
- Receivables within one year +€39,296
up €39,296 (+2616.3%), from €1,502 to €40,798
of which Other amounts receivable: +€30,648
- Tangible fixed assets -€4,832
down €4,832 (-12.7%), from €38,181 to €33,349
of which Land and buildings: -€4,597
- Deferred charges and accrued income -€1,499
down €1,499 (-38.2%), from €3,929 to €2,429
- Trade debts -€14,702
down €14,702 (-81.8%), from €17,969 to €3,267
- Tax, wage and social debts -€6,326
down €6,326 (-36.9%), from €17,147 to €10,821
- Other debts +€2,036
up €2,036 (+2.6%), from €78,490 to €80,526
- Gross operating margin -€18,270
down €18,270 (-52.6%), from €34,725 to €16,454
- Provisions +€3,172
no longer reported in 2025 (was -€3,172)
- Taxes -€1,866
down €1,866 (-52.9%), from €3,530 to €1,664
- Depreciation +€980
up €980 (+18.0%), from €5,441 to €6,421
- Financial charges -€402
down €402 (-7.4%), from €5,408 to €5,006
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 | €135,599 | €117,629 | -€17,970 | -13.3% |
| Fixed assets | 21/28 | €38,181 | €33,349 | -€4,832 | -12.7% |
| Tangible fixed assets | 22/27 | €38,181 | €33,349 | -€4,832 | -12.7% |
| Land and buildings | 22 | €33,428 | €28,831 | -€4,597 | -13.8% |
| Plant, machinery and equipment | 23 | €4,753 | €3,303 | -€1,450 | -30.5% |
| Furniture and vehicles | 24 | - | €1,215 | +€1,215 | |
| Current assets | 29/58 | €97,418 | €84,280 | -€13,138 | -13.5% |
| Amounts receivable within one year | 40/41 | €1,502 | €40,798 | +€39,296 | +2616.3% |
| Trade receivables | 40 | €1,502 | €10,150 | +€8,648 | +575.8% |
| Other amounts receivable | 41 | - | €30,648 | +€30,648 | |
| Current investments | 50/53 | €6,000 | €6,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,987 | €35,052 | -€50,935 | -59.2% |
| Deferred charges and accrued income | 490/1 | €3,929 | €2,429 | -€1,499 | -38.2% |
| Total equity and liabilities | 10/49 | €135,599 | €117,629 | -€17,970 | -13.3% |
| Equity | 10/15 | -€244 | €859 | +€1,103 | |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,844 | -€67,741 | +€1,103 | +1.6% |
| Provisions and deferred taxes | 16 | €22,157 | €22,157 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €22,157 | €22,157 | = | 0.0% |
| Major repairs and maintenance | 162 | €22,157 | €22,157 | = | 0.0% |
| Amounts payable | 17/49 | €113,686 | €94,613 | -€19,073 | -16.8% |
| Amounts payable within one year | 42/48 | €113,605 | €94,613 | -€18,992 | -16.7% |
| Trade debts | 44 | €17,969 | €3,267 | -€14,702 | -81.8% |
| Suppliers | 440/4 | €17,969 | €3,267 | -€14,702 | -81.8% |
| Taxes, remuneration and social security | 45 | €17,147 | €10,821 | -€6,326 | -36.9% |
| Taxes | 450/3 | €17,147 | €10,821 | -€6,326 | -36.9% |
| Other amounts payable | 47/48 | €78,490 | €80,526 | +€2,036 | +2.6% |
| Accrued charges and deferred income | 492/3 | €80 | - | -€80 | |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,441 | €6,421 | +€980 | +18.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,172 | - | +€3,172 | |
| Other operating charges | 640/8 | €2,083 | €2,260 | +€177 | +8.5% |
| Gross operating margin | 9900 | €34,725 | €16,454 | -€18,270 | -52.6% |
| Operating profit (loss) | 9901 | €30,372 | €7,773 | -€22,600 | -74.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,408 | €5,006 | -€402 | -7.4% |
| Recurring financial charges | 65 | €5,408 | €5,006 | -€402 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €24,964 | €2,767 | -€22,197 | -88.9% |
| Income taxes | 67/77 | €3,530 | €1,664 | -€1,866 | -52.9% |
| Profit (loss) for the period | 9904 | €21,434 | €1,103 | -€20,332 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,434 | €1,103 | -€20,332 | -94.9% |
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.