AXVAN: 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.
AXVAN
Largest movements
- Receivables after one year -€69,993
down €69,993 (-100%), from €69,993 to €0
- Tangible fixed assets +€57,011
up €57,011 (+1,611%), from €3,539 to €60,549
of which Furniture and vehicles: +€55,773
- Cash +€18,655
up €18,655 (+95.2%), from €19,590 to €38,246
mainly Net result for the year (+€117,526) and Receivables after one year (+€69,993)
- Current investments +€13,501
up €13,501 (+4.6%), from €293,940 to €307,442
- Profit (loss) carried forward -€43,614
down €43,614 (-10.4%), from €420,780 to €377,166
- Other debts +€40,007
up €40,007 (+133%), from €30,000 to €70,007
- Tax, wage and social debts +€19,401
up €19,401 (+142%), from €13,703 to €33,103
of which Taxes: +€16,524
- Gross operating margin +€43,895
up €43,895 (+39.2%), from €112,011 to €155,906
- Taxes +€9,343
up €9,343 (+38.9%), from €24,037 to €33,380
- Depreciation +€5,625
up €5,625, from €0 to €5,625
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 | €464,603 | €481,729 | +€17,126 | +3.7% |
| Fixed assets | 21/28 | €7,539 | €64,549 | +€57,011 | +756% |
| Tangible fixed assets | 22/27 | €3,539 | €60,549 | +€57,011 | +1,611% |
| Land and buildings | 22 | €3,539 | €2,969 | -€570 | -16.1% |
| Plant, machinery and equipment | 23 | - | €1,808 | +€1,808 | |
| Furniture and vehicles | 24 | - | €55,773 | +€55,773 | |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €457,064 | €417,180 | -€39,884 | -8.7% |
| Amounts receivable after more than one year | 29 | €69,993 | €0 | -€69,993 | -100% |
| Trade receivables | 290 | €69,993 | €0 | -€69,993 | -100% |
| Amounts receivable within one year | 40/41 | €72,794 | €70,201 | -€2,594 | -3.6% |
| Trade receivables | 40 | €12,610 | €55,282 | +€42,672 | +338% |
| Other amounts receivable | 41 | €60,184 | €14,919 | -€45,265 | -75.2% |
| Current investments | 50/53 | €293,940 | €307,442 | +€13,501 | +4.6% |
| Cash at bank and in hand | 54/58 | €19,590 | €38,246 | +€18,655 | +95.2% |
| Deferred charges and accrued income | 490/1 | €746 | €1,292 | +€546 | +73.2% |
| Total equity and liabilities | 10/49 | €464,603 | €481,729 | +€17,126 | +3.7% |
| Equity | 10/15 | €420,880 | €377,266 | -€43,614 | -10.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €420,780 | €377,166 | -€43,614 | -10.4% |
| Amounts payable | 17/49 | €43,723 | €104,463 | +€60,740 | +139% |
| Amounts payable within one year | 42/48 | €43,723 | €104,463 | +€60,740 | +139% |
| Trade debts | 44 | €20 | €1,353 | +€1,333 | +6,506% |
| Suppliers | 440/4 | €20 | €1,353 | +€1,333 | +6,506% |
| Taxes, remuneration and social security | 45 | €13,703 | €33,103 | +€19,401 | +142% |
| Taxes | 450/3 | €13,703 | €30,226 | +€16,524 | +121% |
| Remuneration and social security | 454/9 | €0 | €2,877 | +€2,877 | |
| Other amounts payable | 47/48 | €30,000 | €70,007 | +€40,007 | +133% |
| Non-recurring operating income | 76A | €50 | €0 | -€50 | -100% |
| Remuneration, social security and pensions | 62 | €1,704 | €1,658 | -€46 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €5,625 | +€5,625 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €112,011 | €155,906 | +€43,895 | +39.2% |
| Operating profit (loss) | 9901 | €110,189 | €148,502 | +€38,313 | +34.8% |
| Financial income | 75/76B | €3,530 | €2,432 | -€1,098 | -31.1% |
| Recurring financial income | 75 | €3,530 | €2,432 | -€1,098 | -31.1% |
| Financial charges | 65/66B | €320 | €28 | -€292 | -91.1% |
| Recurring financial charges | 65 | €320 | €28 | -€292 | -91.1% |
| Profit (loss) for the period before taxes | 9903 | €113,399 | €150,906 | +€37,507 | +33.1% |
| Income taxes | 67/77 | €24,037 | €33,380 | +€9,343 | +38.9% |
| Profit (loss) for the period | 9904 | €89,362 | €117,526 | +€28,164 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,362 | €117,526 | +€28,164 | +31.5% |
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 20 October 2026 via checked.be.