Azulatis
Annual accounts 2025
full format, filed on 17-06-2026, 44 days before the deadlineMoney flows
no detail for 2025Balance sheet
balance sheet total €23.4m on 31-12-2025in €m
in €m
Position in the sector
83.9%
Higher than 93% of 104 companies in 2025.
2.24
Higher than 77% of 102 companies in 2025.
-0.4%
Higher than 34% of 104 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter · Staff: middle half
Staff
€117,400
Staff costs divided by the average number of full-time equivalents.
-1 person
In 2025, 3 people joined and 4 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
23.4m | 20.2m | 19.6m | |
21/28 |
15.1m | 16.4m | 14.9m | |
21 |
46,687 | 29,370 | 42,453 | |
22/27 |
15.0m | 16.4m | 14.9m | |
22 |
14.4m | 14.8m | 12.7m | |
23 |
321,222 | 221,964 | 148,706 | |
27 |
283,172 | 1.4m | 2.0m | |
28 |
5,756 | 150 | 1,350 | |
284/8 |
- | - | 1,350 | |
285/8 |
- | - | 1,350 | |
29/58 |
8.4m | 3.8m | 4.7m | |
3 |
456,253 | 742,457 | 831,678 | |
30/36 |
436,286 | 422,258 | 522,292 | |
30/31 |
- | - | 336,436 | |
33 |
- | - | 185,856 | |
37 |
19,966 | 320,198 | 309,386 | |
40/41 |
4.0m | 2.6m | 3.6m | |
40 |
3.9m | 2.6m | 3.4m | |
41 |
40,825 | 25,868 | 181,736 | |
50/53 |
2.8m | - | - | |
54/58 |
1.1m | 319,903 | 201,390 | |
490/1 |
72,602 | 76,972 | 94,253 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
23.4m | 20.2m | 19.6m | |
10/15 |
19.7m | 8.7m | 10.8m | |
10/11 |
23.6m | 12.6m | 12.6m | |
10 |
23.6m | 12.6m | 12.6m | |
100 |
23.6m | 12.6m | 12.6m | |
14 |
-3.9m | -3.8m | -1.8m | |
17/49 |
3.8m | 11.4m | 8.8m | |
42/48 |
3.7m | 11.4m | 8.8m | |
44 |
1.4m | 1.5m | 2.5m | |
440/4 |
1.4m | 1.5m | 2.5m | |
46 |
1.5m | 285,795 | 285,795 | |
45 |
859,547 | 736,223 | 762,860 | |
450/3 |
358,969 | 223,472 | 4,629 | |
454/9 |
500,578 | 512,751 | 758,231 | |
47/48 |
0 | 8.9m | 5.2m | |
492/3 |
25,500 | 0 | 80,427 | |
| Income statement | ||||
70/76A |
- | - | 14.4m | |
70 |
- | - | 21.1m | |
71 |
- | - | -7.1m | |
72 |
- | - | 102,087 | |
74 |
- | - | 401,611 | |
76A |
- | 0 | 10,300 | |
9900 |
5.7m | 4.7m | - | |
60/66A |
- | - | 16.3m | |
60 |
- | - | -5,958 | |
609 |
- | - | -5,958 | |
61 |
- | - | 9.1m | |
62 |
3.1m | 3.6m | 4.2m | |
630 |
2.6m | 2.3m | 2.6m | |
631/4 |
-232,906 | 246,627 | 226,620 | |
640/8 |
24,490 | 178,796 | 177,566 | |
66A |
- | 0 | 16,163 | |
9901 |
140,171 | -1.6m | -1.8m | |
75/76B |
10,768 | 24,687 | 231,248 | |
75 |
10,768 | 24,687 | 231,248 | |
752/9 |
- | - | 231,248 | |
65/66B |
234,416 | 463,826 | 170,201 | |
65 |
234,416 | 463,826 | 170,201 | |
650 |
- | - | 166,818 | |
652/9 |
- | - | 3,383 | |
9903 |
-83,477 | -2.0m | -1.8m | |
67/77 |
5,385 | 5,537 | - | |
9904 |
-88,862 | -2.0m | -1.8m | |
9905 |
-88,862 | -2.0m | -1.8m | |
| Appropriation of the result | ||||
9906 |
-3.9m | -3.8m | -1.8m | |
14P |
-3.8m | -1.8m | - | |
| Social balance sheet | ||||
9087 |
26.2 | 30.2 | 27.4 | |
Men (FTE)1003 |
- | - | 27.4 | |
Hours worked1013 |
40,982 | 48,349 | 47,955 | |
| Document | ||||
The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 17-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2023 to 2025, 3 entries, €64,607 awarded, €1,702 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €62,905 | €0 |
| 2024 | 1 | €1,020 | €1,020 |
| 2023 | 1 | €682 | €682 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 2.8m | 697,070 | 743,590 | ||
| 2.6m | 252,395 | 804,637 | ||
| 2.4m | 3.8m | 29.6m | ||
| 798,456 | 118,513 | - | ||
| 4.6m | -7.7m | -4.1m | ||
| - | - | -8.8% | ||
| 83.9% | 43.3% | 54.9% | ||
| 2.24 | 0.33 | 0.54 | ||
| 2.11 | 0.27 | 0.44 | ||
| 0.19 | 1.31 | 0.82 | ||
| -0.5% | -23.4% | -16.5% | ||
| -0.4% | -10.1% | -9.1% | ||
| 11.90 | 1.50 | 4.46 | ||
| - | - | 59 days | ||
| - | - | 99 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Revenue breakdown
By activity 2023
- Leveringen van "ander" water aan klanten €9,335,66144.3%
- Verkoop installaties €9,137,72743.4%
- Studie & beheer watergebonden installaties €2,485,23811.8%
- Gefactureerde prestaties voor rekening van derden €94,4300.4%
Total €21,053,056
Source: 2023 accounts, page 21, filing 2024-00414827
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 26 | 27 | 33 |
| full-time | 25 | 26 | 32 |
| part-time | 1 | 1 | 1 |
| in full-time equivalents | 25.9 | 26.8 | 32.9 |
| 26.2 | 30.2 | 27.4 | |
| On a permanent contract | 26 | 27 | 33 |
| Joined | 3 | 5 | 34 |
| Left | 4 | 10 | 1 |
| Training hours | - | - | 32 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €2.4m | €3.8m | €29.5m |
| Intangible fixed assets | €35,050 | €3,620 | €93,640 |
| Financial fixed assets | €5,606 | €150 | - |
| €2.6m | €2.3m | €2.6m |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Auditor
feesThe auditor is BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Fee for the audit | - | - | €20,600 |
Source: notes to the 2023 to 2025 annual accounts (relations with the auditor)
Insights on Azulatis
The operating result for 2025 is a profit of €140,171, after a loss of €1.6m in 2024. It is the highest result since 2023.
Debt's share of the balance-sheet total falls from 56.7% to 16.1%. Equity is higher and debt is lower.
- 2025 Net result +96% on 2024. The accounts now follow the full format, last year the abbreviated format.
- 2025 Equity +125% on 2024. Capital increase of €11,013,107 (Official Gazette 15-07-2025).