AAZAAO: what changed
AAZAAO
Largest movements
- Tangible fixed assets -€15,965
down €15,965 (-36.0%), from €44,361 to €28,396
of which Furniture and vehicles: -€10,229
- Cash -€11,184
down €11,184 (-53.5%), from €20,914 to €9,730
mainly Debts after one year (-€20,143) and Tax, wage and social debts (-€18,489)
- Receivables within one year +€2,007
new in 2025: €2,007
- Profit (loss) carried forward +€26,936
up €26,936 (+228%), from €11,839 to €38,775
- Debts after one year -€20,143
down €20,143 (-34.7%), from €58,053 to €37,910
- Tax, wage and social debts -€18,489
down €18,489 (-77.6%), from €23,813 to €5,324
- Other debts -€17,997
down €17,997 (-59.5%), from €30,223 to €12,226
- Trade debts +€2,087
up €2,087 (+555%), from €376 to €2,463
- Taxes -€41,572
down €41,572 (-75.4%), from €55,142 to €13,570
- Gross operating margin -€23,867
down €23,867 (-27.5%), from €86,825 to €62,958
- Financial charges -€1,042
down €1,042 (-21.5%), from €4,857 to €3,815
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €164,964 | €139,620 | -€25,344 | -15.4% |
| Formation expenses | 20 | €148 | - | -€148 | |
| Fixed assets | 21/28 | €143,678 | €127,713 | -€15,965 | -11.1% |
| Tangible fixed assets | 22/27 | €44,361 | €28,396 | -€15,965 | -36.0% |
| Furniture and vehicles | 24 | €28,242 | €18,013 | -€10,229 | -36.2% |
| Other tangible fixed assets | 26 | €16,119 | €10,383 | -€5,736 | -35.6% |
| Financial fixed assets | 28 | €99,317 | €99,317 | = | 0.0% |
| Current assets | 29/58 | €21,138 | €11,907 | -€9,231 | -43.7% |
| Amounts receivable within one year | 40/41 | - | €2,007 | +€2,007 | |
| Other amounts receivable | 41 | - | €2,007 | +€2,007 | |
| Cash at bank and in hand | 54/58 | €20,914 | €9,730 | -€11,184 | -53.5% |
| Deferred charges and accrued income | 490/1 | €224 | €170 | -€54 | -24.1% |
| Total equity and liabilities | 10/49 | €164,964 | €139,620 | -€25,344 | -15.4% |
| Equity | 10/15 | €33,392 | €60,328 | +€26,936 | +80.7% |
| Contributions | 10/11 | €19,465 | €19,465 | = | 0.0% |
| Reserves | 13 | €2,088 | €2,088 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,088 | €2,088 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,839 | €38,775 | +€26,936 | +228% |
| Amounts payable | 17/49 | €131,572 | €79,292 | -€52,280 | -39.7% |
| Amounts payable after more than one year | 17 | €58,053 | €37,910 | -€20,143 | -34.7% |
| Financial debts | 170/4 | €58,053 | €37,910 | -€20,143 | -34.7% |
| Amounts payable within one year | 42/48 | €73,519 | €40,982 | -€32,537 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €19,107 | €20,969 | +€1,862 | +9.7% |
| Trade debts | 44 | €376 | €2,463 | +€2,087 | +555% |
| Suppliers | 440/4 | €376 | €2,463 | +€2,087 | +555% |
| Taxes, remuneration and social security | 45 | €23,813 | €5,324 | -€18,489 | -77.6% |
| Taxes | 450/3 | €23,813 | €5,324 | -€18,489 | -77.6% |
| Other amounts payable | 47/48 | €30,223 | €12,226 | -€17,997 | -59.5% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,442 | €18,261 | -€181 | -1.0% |
| Other operating charges | 640/8 | €448 | €445 | -€3 | -0.7% |
| Gross operating margin | 9900 | €86,825 | €62,958 | -€23,867 | -27.5% |
| Operating profit (loss) | 9901 | €67,935 | €44,252 | -€23,683 | -34.9% |
| Financial income | 75/76B | €49 | €69 | +€20 | +40.8% |
| Recurring financial income | 75 | €49 | €69 | +€20 | +40.8% |
| Financial charges | 65/66B | €4,857 | €3,815 | -€1,042 | -21.5% |
| Recurring financial charges | 65 | €4,857 | €3,815 | -€1,042 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €63,127 | €40,506 | -€22,621 | -35.8% |
| Income taxes | 67/77 | €55,142 | €13,570 | -€41,572 | -75.4% |
| Profit (loss) for the period | 9904 | €7,985 | €26,936 | +€18,951 | +237% |
| Profit (loss) for the period to be appropriated | 9905 | €7,985 | €26,936 | +€18,951 | +237% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.