AXYAR: 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.
AXYAR
Largest movements
- Tangible fixed assets +€230,712
up €230,712 (+27.1%), from €852,830 to €1.1m
of which Land and buildings: +€302,200
- Cash +€215,758
up €215,758 (+41.4%), from €521,582 to €737,340
mainly Other debts (+€603,840) and Net result for the year (+€475,387)
- Stocks and contracts +€104,033
up €104,033 (+82.0%), from €126,854 to €230,886
- Other debts +€603,840
up €603,840 (+524.1%), from €115,212 to €719,052
- Profit (loss) carried forward -€364,613
down €364,613 (-31.2%), from €1.2m to €804,190
- Debts after one year +€208,369
up €208,369 (+46.2%), from €451,255 to €659,625
- Tax, wage and social debts +€128,922
up €128,922 (+343.7%), from €37,514 to €166,435
of which Taxes: +€108,056
- Current portion of long-term debt +€66,488
up €66,488 (+174.6%), from €38,071 to €104,560
- Gross operating margin +€304,033
up €304,033 (+44.3%), from €685,615 to €989,648
- Taxes +€73,542
up €73,542 (+87.2%), from €84,326 to €157,868
- Staff costs +€39,733
up €39,733 (+25.7%), from €154,736 to €194,469
- Depreciation +€39,294
up €39,294 (+34.3%), from €114,611 to €153,904
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 | €1,930,342 | €2,510,877 | +€580,535 | +30.1% |
| Fixed assets | 21/28 | €853,005 | €1,083,717 | +€230,712 | +27.0% |
| Tangible fixed assets | 22/27 | €852,830 | €1,083,542 | +€230,712 | +27.1% |
| Land and buildings | 22 | €432,727 | €734,927 | +€302,200 | +69.8% |
| Plant, machinery and equipment | 23 | €326,794 | €267,357 | -€59,437 | -18.2% |
| Furniture and vehicles | 24 | €4,688 | €4,439 | -€248 | -5.3% |
| Other tangible fixed assets | 26 | €88,622 | €76,819 | -€11,803 | -13.3% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €1,077,337 | €1,427,160 | +€349,823 | +32.5% |
| Stocks and contracts in progress | 3 | €126,854 | €230,886 | +€104,033 | +82.0% |
| Stocks | 30/36 | €126,854 | €230,886 | +€104,033 | +82.0% |
| Amounts receivable within one year | 40/41 | €262,780 | €287,586 | +€24,806 | +9.4% |
| Trade receivables | 40 | €226,692 | €265,970 | +€39,277 | +17.3% |
| Other amounts receivable | 41 | €36,087 | €21,616 | -€14,471 | -40.1% |
| Current investments | 50/53 | €154,051 | €154,051 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €521,582 | €737,340 | +€215,758 | +41.4% |
| Deferred charges and accrued income | 490/1 | €12,071 | €17,297 | +€5,226 | +43.3% |
| Total equity and liabilities | 10/49 | €1,930,342 | €2,510,877 | +€580,535 | +30.1% |
| Equity | 10/15 | €1,189,619 | €825,006 | -€364,613 | -30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,215 | €2,215 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €355 | €355 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,168,804 | €804,190 | -€364,613 | -31.2% |
| Amounts payable | 17/49 | €740,723 | €1,685,871 | +€945,148 | +127.6% |
| Amounts payable after more than one year | 17 | €451,255 | €659,625 | +€208,369 | +46.2% |
| Financial debts | 170/4 | €451,255 | €659,625 | +€208,369 | +46.2% |
| Amounts payable within one year | 42/48 | €289,060 | €1,025,729 | +€736,669 | +254.8% |
| Current portion of amounts payable after more than one year | 42 | €38,071 | €104,560 | +€66,488 | +174.6% |
| Trade debts | 44 | €98,263 | €35,682 | -€62,581 | -63.7% |
| Suppliers | 440/4 | €98,263 | €35,682 | -€62,581 | -63.7% |
| Taxes, remuneration and social security | 45 | €37,514 | €166,435 | +€128,922 | +343.7% |
| Taxes | 450/3 | €22,095 | €130,150 | +€108,056 | +489.1% |
| Remuneration and social security | 454/9 | €15,419 | €36,285 | +€20,866 | +135.3% |
| Other amounts payable | 47/48 | €115,212 | €719,052 | +€603,840 | +524.1% |
| Accrued charges and deferred income | 492/3 | €408 | €517 | +€110 | +26.8% |
| Remuneration, social security and pensions | 62 | €154,736 | €194,469 | +€39,733 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,611 | €153,904 | +€39,294 | +34.3% |
| Other operating charges | 640/8 | €5,841 | €6,321 | +€480 | +8.2% |
| Non-recurring operating charges | 66A | €70,225 | €0 | -€70,225 | -100.0% |
| Gross operating margin | 9900 | €685,615 | €989,648 | +€304,033 | +44.3% |
| Operating profit (loss) | 9901 | €340,202 | €634,954 | +€294,752 | +86.6% |
| Financial income | 75/76B | €5,296 | €8,242 | +€2,946 | +55.6% |
| Recurring financial income | 75 | €5,296 | €8,242 | +€2,946 | +55.6% |
| Financial charges | 65/66B | €8,538 | €9,942 | +€1,404 | +16.4% |
| Recurring financial charges | 65 | €8,538 | €9,942 | +€1,404 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €336,960 | €633,255 | +€296,295 | +87.9% |
| Income taxes | 67/77 | €84,326 | €157,868 | +€73,542 | +87.2% |
| Profit (loss) for the period | 9904 | €252,634 | €475,387 | +€222,753 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €252,634 | €475,387 | +€222,753 | +88.2% |
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 29 September 2026 via checked.be.