Axxaes: 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.
Axxaes
Largest movements
- Cash +€15,828
up €15,828 (+28.9%), from €54,714 to €70,542
mainly Depreciation (+€18,004) and Net result for the year (+€16,922)
- Intangible fixed assets +€4,690
new in 2025: €4,690
- Profit (loss) carried forward +€16,922
up €16,922 (+21.3%), from -€79,557 to -€62,635
- Gross operating margin +€75,570
up €75,570, from -€37,704 to €37,866
- Financial charges -€31,227
down €31,227 (-98.8%), from €31,599 to €372
- Depreciation +€10,320
up €10,320 (+134.3%), from €7,684 to €18,004
- Taxes +€2,087
up €2,087 (+773.5%), from €270 to €2,357
- Financial income +€1,303
up €1,303 (+726.9%), from €179 to €1,482
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 | €447,455 | €468,175 | +€20,720 | +4.6% |
| Fixed assets | 21/28 | €68,895 | €69,411 | +€515 | +0.7% |
| Intangible fixed assets | 21 | - | €4,690 | +€4,690 | |
| Tangible fixed assets | 22/27 | €68,895 | €64,721 | -€4,174 | -6.1% |
| Plant, machinery and equipment | 23 | €2,952 | €13,676 | +€10,724 | +363.2% |
| Furniture and vehicles | 24 | €65,943 | €51,045 | -€14,898 | -22.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €378,559 | €398,764 | +€20,204 | +5.3% |
| Amounts receivable within one year | 40/41 | €24,158 | €27,337 | +€3,179 | +13.2% |
| Trade receivables | 40 | €3,500 | €17,709 | +€14,209 | +405.9% |
| Other amounts receivable | 41 | €20,657 | €9,627 | -€11,030 | -53.4% |
| Current investments | 50/53 | €297,905 | €297,905 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,714 | €70,542 | +€15,828 | +28.9% |
| Deferred charges and accrued income | 490/1 | €1,782 | €2,980 | +€1,197 | +67.2% |
| Total equity and liabilities | 10/49 | €447,455 | €468,175 | +€20,720 | +4.6% |
| Equity | 10/15 | -€16,749 | €173 | +€16,922 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,208 | €44,208 | = | 0.0% |
| Distributable reserves | 133 | €44,208 | €44,208 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,557 | -€62,635 | +€16,922 | +21.3% |
| Amounts payable | 17/49 | €464,204 | €468,001 | +€3,797 | +0.8% |
| Amounts payable within one year | 42/48 | €464,204 | €468,001 | +€3,797 | +0.8% |
| Financial debts | 43 | €1,317 | €1,317 | = | 0.0% |
| Credit institutions | 430/8 | €1,317 | €1,317 | = | 0.0% |
| Trade debts | 44 | €1,593 | €3,343 | +€1,751 | +109.9% |
| Suppliers | 440/4 | €1,593 | €3,343 | +€1,751 | +109.9% |
| Taxes, remuneration and social security | 45 | €2,951 | €2,796 | -€155 | -5.3% |
| Taxes | 450/3 | €250 | €288 | +€38 | +15.2% |
| Remuneration and social security | 454/9 | €2,702 | €2,508 | -€193 | -7.2% |
| Other amounts payable | 47/48 | €458,342 | €460,544 | +€2,202 | +0.5% |
| Non-recurring operating income | 76A | €7,851 | €0 | -€7,851 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,684 | €18,004 | +€10,320 | +134.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,479 | €1,692 | -€787 | -31.8% |
| Gross operating margin | 9900 | -€37,704 | €37,866 | +€75,570 | |
| Operating profit (loss) | 9901 | -€47,868 | €18,169 | +€66,037 | |
| Financial income | 75/76B | €179 | €1,482 | +€1,303 | +726.9% |
| Recurring financial income | 75 | €179 | €1,482 | +€1,303 | +726.9% |
| Financial charges | 65/66B | €31,599 | €372 | -€31,227 | -98.8% |
| Recurring financial charges | 65 | €31,599 | €372 | -€31,227 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | -€79,288 | €19,279 | +€98,567 | |
| Income taxes | 67/77 | €270 | €2,357 | +€2,087 | +773.5% |
| Profit (loss) for the period | 9904 | -€79,557 | €16,922 | +€96,480 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,557 | €16,922 | +€96,480 |
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.