AXUS Finance: 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.
What changed
AXUS Finance
NACE 64.921, Financial service activities, except insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32.7m
2024 · €39.2m-€6.5m
Equity
€29.6m
2024 · €68.4m-€38.8m
Cash
€27.5m
2024 · €21.7m+€5.8m
Balance sheet total
€666.8m
2024 · €618.4m+€48.4m
Largest movements
Assets
- Receivables within one year +€55.2m
up €55.2m (+40.3%), from €137.0m to €192.3m
of which Trade receivables: +€31.9m
- Tangible fixed assets -€11.6m
down €11.6m (-2.5%), from €458.0m to €446.4m
Equity and liabilities
- Debts after one year -€542.0m
no longer reported in 2025 (was €542.0m)
- Short-term financial debts +€542.0m
new in 2025: €542.0m
- Trade debts +€48.6m
up €48.6m (+177,089%), from €27,431 to €48.6m
- Profit (loss) carried forward -€38.8m
down €38.8m (-56.8%), from €68.3m to €29.5m
- Other debts +€32.5m
new in 2025: €32.5m
Income statement
- Goods and materials +€89.8m
up €89.8m (+239%), from €37.5m to €127.4m
of which Purchases: +€89.7m
- Turnover +€77.4m
up €77.4m (+35.6%), from €217.6m to €295.0m
- Financial charges -€13.3m
down €13.3m (-39.4%), from €33.7m to €20.4m
- Financial income -€10.5m
down €10.5m (-58.9%), from €17.8m to €7.3m
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.
Result 2024
€39.2m
Turnover
+€77.4m
Other operating income
-€241,660
Goods and materials
-€89.8m
Services and other goods
+€188,099
Depreciation
+€1.9m
Other operating charges
+€18,296
Financial income
-€10.5m
Financial charges
+€13.3m
Taxes
+€1.3m
Result 2025
€32.7m
raises the resultlowers the result
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.
From operations
+€175.8m
Investment
-€98.5m
Financing
-€71.5m
Cash 2024
€21.7m
From operations (derived)
+€175.8m
Net result for the year
+€32.7m
Depreciation
+€110.2m
Smaller working-capital items
+€421,778
Receivables within one year
-€55.2m
Trade debts
+€48.6m
Tax, wage and social debts
+€6.6m
Other debts
+€32.5m
Investment (derived)
-€98.5m
Investment in fixed assets (net)
-€98.5m
Financing
-€71.5m
Debts after one year
-€542.0m
Short-term financial debts
+€542.0m
Contributions, distributions and other
-€71.5m
Cash 2025
€27.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €618,415,535 | €666,777,912 | +€48.4m | +7.8% |
| Fixed assets | 21/28 | €458,021,475 | €446,373,908 | -€11.6m | -2.5% |
| Tangible fixed assets | 22/27 | €458,021,475 | €446,373,908 | -€11.6m | -2.5% |
| Other tangible fixed assets | 26 | €458,021,475 | €446,373,908 | -€11.6m | -2.5% |
| Current assets | 29/58 | €160,394,060 | €220,404,004 | +€60.0m | +37.4% |
| Stocks and contracts in progress | 3 | €1,105,751 | €650,105 | -€455,646 | -41.2% |
| Stocks | 30/36 | €1,105,751 | €650,105 | -€455,646 | -41.2% |
| Goods purchased for resale | 34 | €1,105,751 | €650,105 | -€455,646 | -41.2% |
| Amounts receivable within one year | 40/41 | €137,039,981 | €192,257,108 | +€55.2m | +40.3% |
| Trade receivables | 40 | €11,650,544 | €43,583,433 | +€31.9m | +274% |
| Other amounts receivable | 41 | €125,389,437 | €148,673,675 | +€23.3m | +18.6% |
| Cash at bank and in hand | 54/58 | €21,726,162 | €27,496,791 | +€5.8m | +26.6% |
| Deferred charges and accrued income | 490/1 | €522,167 | - | -€522,167 | |
| Total equity and liabilities | 10/49 | €618,415,535 | €666,777,912 | +€48.4m | +7.8% |
| Equity | 10/15 | €68,384,290 | €29,607,308 | -€38.8m | -56.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,316,090 | €29,539,108 | -€38.8m | -56.8% |
| Amounts payable | 17/49 | €550,031,245 | €637,170,604 | +€87.1m | +15.8% |
| Amounts payable after more than one year | 17 | €542,000,000 | - | -€542.0m | |
| Financial debts | 170/4 | €542,000,000 | - | -€542.0m | |
| Other loans | 174 | €542,000,000 | - | -€542.0m | |
| Amounts payable within one year | 42/48 | €6,788,701 | €636,484,095 | +€629.7m | +9,276% |
| Financial debts | 43 | - | €542,000,000 | +€542.0m | |
| Other loans | 439 | - | €542,000,000 | +€542.0m | |
| Trade debts | 44 | €27,431 | €48,604,438 | +€48.6m | +177,089% |
| Suppliers | 440/4 | €27,431 | €48,604,438 | +€48.6m | +177,089% |
| Taxes, remuneration and social security | 45 | €6,761,270 | €13,379,657 | +€6.6m | +97.9% |
| Taxes | 450/3 | €6,761,270 | €13,379,657 | +€6.6m | +97.9% |
| Other amounts payable | 47/48 | - | €32,500,000 | +€32.5m | |
| Accrued charges and deferred income | 492/3 | €1,242,544 | €686,509 | -€556,034 | -44.7% |
| Operating income | 70/76A | €218,596,670 | €295,723,314 | +€77.1m | +35.3% |
| Turnover | 70 | €217,623,670 | €294,991,974 | +€77.4m | +35.6% |
| Other operating income | 74 | €973,000 | €731,340 | -€241,660 | -24.8% |
| Operating charges | 60/66A | €150,477,197 | €238,167,607 | +€87.7m | +58.3% |
| Goods for resale, raw materials and consumables | 60 | €37,542,815 | €127,355,082 | +€89.8m | +239% |
| Purchases | 600/8 | €37,212,718 | €126,899,437 | +€89.7m | +241% |
| Change in stocks: decrease (increase) | 609 | €330,096 | €455,645 | +€125,549 | +38.0% |
| Services and other goods | 61 | €838,617 | €650,518 | -€188,099 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,077,469 | €110,162,007 | -€1.9m | -1.7% |
| Other operating charges | 640/8 | €18,296 | - | -€18,296 | |
| Operating profit (loss) | 9901 | €68,119,472 | €57,555,707 | -€10.6m | -15.5% |
| Financial income | 75/76B | €17,841,929 | €7,340,075 | -€10.5m | -58.9% |
| Recurring financial income | 75 | €17,841,929 | €7,340,075 | -€10.5m | -58.9% |
| Income from financial fixed assets | 750 | - | €2,534,046 | +€2.5m | |
| Income from current assets | 751 | €76,840 | €195,429 | +€118,589 | +154% |
| Other financial income | 752/9 | €17,765,089 | €4,610,600 | -€13.2m | -74.0% |
| Financial charges | 65/66B | €33,689,849 | €20,412,064 | -€13.3m | -39.4% |
| Recurring financial charges | 65 | €33,689,849 | €20,412,064 | -€13.3m | -39.4% |
| Debt charges | 650 | €22,445,516 | €16,725,397 | -€5.7m | -25.5% |
| Other financial charges | 652/9 | €11,244,334 | €3,686,667 | -€7.6m | -67.2% |
| Profit (loss) for the period before taxes | 9903 | €52,271,552 | €44,483,718 | -€7.8m | -14.9% |
| Income taxes | 67/77 | €13,067,888 | €11,760,700 | -€1.3m | -10.0% |
| Taxes | 670/3 | €13,067,888 | €11,760,700 | -€1.3m | -10.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €39,203,664 | €32,723,018 | -€6.5m | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,203,664 | €32,723,018 | -€6.5m | -16.5% |
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 28 October 2026 via checked.be.