ATZEO: 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.
ATZEO
Largest movements
- Stocks and contracts -€5,747
down €5,747 (-13.0%), from €44,299 to €38,552
- Tangible fixed assets -€4,706
down €4,706 (-2.1%), from €219,364 to €214,658
of which Land and buildings: -€8,667
- Profit (loss) carried forward +€27,862
up €27,862 (+13.5%), from €206,775 to €234,637
- Other debts -€20,600
down €20,600 (-88.1%), from €23,392 to €2,792
- Debts after one year -€14,583
down €14,583 (-26.7%), from €54,687 to €40,104
- Trade debts -€7,216
down €7,216 (-82.3%), from €8,764 to €1,548
- Accrued charges and deferred income +€5,299
up €5,299 (+23.1%), from €22,982 to €28,281
- Gross operating margin +€29,847
up €29,847 (+37.1%), from €80,414 to €110,261
- Taxes +€7,598
up €7,598 (+248%), from €3,067 to €10,665
- Depreciation -€2,768
down €2,768 (-19.4%), from €14,264 to €11,497
- Staff costs +€2,254
up €2,254 (+4.4%), from €51,687 to €53,940
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 | €361,078 | €350,039 | -€11,039 | -3.1% |
| Fixed assets | 21/28 | €219,364 | €214,658 | -€4,706 | -2.1% |
| Tangible fixed assets | 22/27 | €219,364 | €214,658 | -€4,706 | -2.1% |
| Land and buildings | 22 | €214,600 | €205,933 | -€8,667 | -4.0% |
| Furniture and vehicles | 24 | €4,764 | €8,725 | +€3,961 | +83.1% |
| Current assets | 29/58 | €141,714 | €135,381 | -€6,333 | -4.5% |
| Stocks and contracts in progress | 3 | €44,299 | €38,552 | -€5,747 | -13.0% |
| Stocks | 30/36 | €44,299 | €38,552 | -€5,747 | -13.0% |
| Amounts receivable within one year | 40/41 | €33,120 | €33,164 | +€45 | +0.1% |
| Trade receivables | 40 | €26,159 | €26,186 | +€27 | +0.1% |
| Other amounts receivable | 41 | €6,960 | €6,978 | +€18 | +0.3% |
| Cash at bank and in hand | 54/58 | €61,779 | €61,965 | +€185 | +0.3% |
| Deferred charges and accrued income | 490/1 | €2,517 | €1,700 | -€817 | -32.5% |
| Total equity and liabilities | 10/49 | €361,078 | €350,039 | -€11,039 | -3.1% |
| Equity | 10/15 | €227,235 | €255,097 | +€27,862 | +12.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,775 | €234,637 | +€27,862 | +13.5% |
| Amounts payable | 17/49 | €133,843 | €94,942 | -€38,901 | -29.1% |
| Amounts payable after more than one year | 17 | €54,687 | €40,104 | -€14,583 | -26.7% |
| Financial debts | 170/4 | €54,687 | €40,104 | -€14,583 | -26.7% |
| Amounts payable within one year | 42/48 | €56,174 | €26,558 | -€29,616 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €14,583 | €14,583 | = | 0.0% |
| Trade debts | 44 | €8,764 | €1,548 | -€7,216 | -82.3% |
| Suppliers | 440/4 | €8,764 | €1,548 | -€7,216 | -82.3% |
| Taxes, remuneration and social security | 45 | €9,435 | €7,635 | -€1,800 | -19.1% |
| Taxes | 450/3 | €3,134 | €1,059 | -€2,075 | -66.2% |
| Remuneration and social security | 454/9 | €6,301 | €6,576 | +€275 | +4.4% |
| Other amounts payable | 47/48 | €23,392 | €2,792 | -€20,600 | -88.1% |
| Accrued charges and deferred income | 492/3 | €22,982 | €28,281 | +€5,299 | +23.1% |
| Remuneration, social security and pensions | 62 | €51,687 | €53,940 | +€2,254 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,264 | €11,497 | -€2,768 | -19.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €70 | €355 | +€286 | +411% |
| Other operating charges | 640/8 | €3,788 | €3,981 | +€194 | +5.1% |
| Gross operating margin | 9900 | €80,414 | €110,261 | +€29,847 | +37.1% |
| Operating profit (loss) | 9901 | €10,605 | €40,487 | +€29,881 | +282% |
| Financial income | 75/76B | €437 | €741 | +€304 | +69.7% |
| Recurring financial income | 75 | €437 | €741 | +€304 | +69.7% |
| Financial charges | 65/66B | €2,627 | €2,701 | +€74 | +2.8% |
| Recurring financial charges | 65 | €2,627 | €2,701 | +€74 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €8,415 | €38,527 | +€30,112 | +358% |
| Income taxes | 67/77 | €3,067 | €10,665 | +€7,598 | +248% |
| Profit (loss) for the period | 9904 | €5,348 | €27,862 | +€22,514 | +421% |
| Profit (loss) for the period to be appropriated | 9905 | €5,348 | €27,862 | +€22,514 | +421% |
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 23 October 2026 via checked.be.