AXSO: 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.
AXSO
Largest movements
- Cash +€24,546
up €24,546 (+160%), from €15,383 to €39,929
mainly Contributions, distributions and other (+€71,115) and Depreciation (+€60,457)
- Revaluation surpluses +€71,115
new in 2025: €71,115
- Profit (loss) carried forward +€47,738
up €47,738 (+33.6%), from -€142,084 to -€94,347
- Other debts -€35,074
down €35,074 (-2.3%), from €1.5m to €1.5m
- Debts after one year -€33,239
down €33,239 (-14.4%), from €230,494 to €197,254
- Gross operating margin +€27,233
up €27,233 (+34.0%), from €80,172 to €107,405
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 | €1,995,851 | €2,031,103 | +€35,252 | +1.8% |
| Fixed assets | 21/28 | €1,979,225 | €1,989,884 | +€10,658 | +0.5% |
| Tangible fixed assets | 22/27 | €1,979,225 | €1,989,884 | +€10,658 | +0.5% |
| Land and buildings | 22 | €1,979,225 | €1,989,884 | +€10,658 | +0.5% |
| Current assets | 29/58 | €16,626 | €41,219 | +€24,593 | +148% |
| Cash at bank and in hand | 54/58 | €15,383 | €39,929 | +€24,546 | +160% |
| Deferred charges and accrued income | 490/1 | €1,243 | €1,291 | +€48 | +3.8% |
| Total equity and liabilities | 10/49 | €1,995,851 | €2,031,103 | +€35,252 | +1.8% |
| Equity | 10/15 | €148,313 | €257,310 | +€108,996 | +73.5% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | - | €71,115 | +€71,115 | |
| Reserves | 13 | €166,451 | €156,594 | -€9,857 | -5.9% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €154,056 | €144,199 | -€9,857 | -6.4% |
| Profit (loss) carried forward | 14 | -€142,084 | -€94,347 | +€47,738 | +33.6% |
| Provisions and deferred taxes | 16 | €51,352 | €48,066 | -€3,286 | -6.4% |
| Deferred taxes | 168 | €51,352 | €48,066 | -€3,286 | -6.4% |
| Amounts payable | 17/49 | €1,796,186 | €1,725,727 | -€70,459 | -3.9% |
| Amounts payable after more than one year | 17 | €230,494 | €197,254 | -€33,239 | -14.4% |
| Financial debts | 170/4 | €230,494 | €197,254 | -€33,239 | -14.4% |
| Amounts payable within one year | 42/48 | €1,565,692 | €1,528,473 | -€37,220 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €32,931 | €33,239 | +€308 | +0.9% |
| Trade debts | 44 | €2,877 | €424 | -€2,454 | -85.3% |
| Suppliers | 440/4 | €2,877 | €424 | -€2,454 | -85.3% |
| Other amounts payable | 47/48 | €1,529,884 | €1,494,810 | -€35,074 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,414 | €60,457 | +€43 | +0.1% |
| Other operating charges | 640/8 | €9,557 | €9,726 | +€169 | +1.8% |
| Gross operating margin | 9900 | €80,172 | €107,405 | +€27,233 | +34.0% |
| Operating profit (loss) | 9901 | €10,201 | €37,222 | +€27,021 | +265% |
| Financial charges | 65/66B | €2,843 | €2,627 | -€216 | -7.6% |
| Recurring financial charges | 65 | €2,843 | €2,627 | -€216 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €7,359 | €34,595 | +€27,237 | +370% |
| Transfer from deferred taxes | 780 | €3,286 | €3,286 | = | 0.0% |
| Profit (loss) for the period | 9904 | €10,644 | €37,881 | +€27,237 | +256% |
| Transfer from tax-exempt reserves | 789 | €9,857 | €9,857 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,501 | €47,738 | +€27,237 | +133% |
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 17 October 2026 via checked.be.