IMMO - AXAL: 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.
IMMO - AXAL
Largest movements
- Cash -€6,947
down €6,947 (-6.6%), from €104,493 to €97,546
mainly Net result for the year (-€8,923) and Receivables within one year (-€654)
- Tangible fixed assets -€2,906
down €2,906 (-4.6%), from €62,744 to €59,838
of which Land and buildings: -€2,412
- Profit (loss) carried forward -€8,923
down €8,923 (-8.8%), from -€101,729 to -€110,652
- Gross operating margin -€1,016
down €1,016 (-26.9%), from -€3,775 to -€4,791
- Other operating charges -€378
down €378 (-34.2%), from €1,106 to €728
- Depreciation -€133
down €133 (-4.4%), from €3,040 to €2,906
- Financial charges +€85
up €85 (+20.7%), from €412 to €497
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 | €179,970 | €170,598 | -€9,372 | -5.2% |
| Fixed assets | 21/28 | €62,744 | €59,838 | -€2,906 | -4.6% |
| Tangible fixed assets | 22/27 | €62,744 | €59,838 | -€2,906 | -4.6% |
| Land and buildings | 22 | €62,125 | €59,713 | -€2,412 | -3.9% |
| Plant, machinery and equipment | 23 | €331 | €51 | -€280 | -84.7% |
| Furniture and vehicles | 24 | €289 | €75 | -€214 | -74.2% |
| Current assets | 29/58 | €117,225 | €110,760 | -€6,465 | -5.5% |
| Amounts receivable within one year | 40/41 | €4,908 | €5,562 | +€654 | +13.3% |
| Other amounts receivable | 41 | €4,908 | €5,562 | +€654 | +13.3% |
| Current investments | 50/53 | €7,022 | €7,022 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,493 | €97,546 | -€6,947 | -6.6% |
| Deferred charges and accrued income | 490/1 | €802 | €630 | -€173 | -21.5% |
| Total equity and liabilities | 10/49 | €179,970 | €170,598 | -€9,372 | -5.2% |
| Equity | 10/15 | €179,521 | €170,598 | -€8,923 | -5.0% |
| Contributions | 10/11 | €137,500 | €137,500 | = | 0.0% |
| Capital | 10 | €137,500 | €137,500 | = | 0.0% |
| Issued capital | 100 | €137,500 | €137,500 | = | 0.0% |
| Reserves | 13 | €143,750 | €143,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,750 | €13,750 | = | 0.0% |
| Legal reserve | 130 | €13,750 | €13,750 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,729 | -€110,652 | -€8,923 | -8.8% |
| Amounts payable | 17/49 | €449 | - | -€449 | |
| Amounts payable within one year | 42/48 | €62 | - | -€62 | |
| Trade debts | 44 | €62 | - | -€62 | |
| Suppliers | 440/4 | €62 | - | -€62 | |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,040 | €2,906 | -€133 | -4.4% |
| Other operating charges | 640/8 | €1,106 | €728 | -€378 | -34.2% |
| Gross operating margin | 9900 | -€3,775 | -€4,791 | -€1,016 | -26.9% |
| Operating profit (loss) | 9901 | -€7,921 | -€8,425 | -€504 | -6.4% |
| Financial charges | 65/66B | €412 | €497 | +€85 | +20.7% |
| Recurring financial charges | 65 | €412 | €497 | +€85 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,333 | -€8,923 | -€589 | -7.1% |
| Profit (loss) for the period | 9904 | -€8,333 | -€8,923 | -€589 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,333 | -€8,923 | -€589 | -7.1% |
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.