AZ-GROUP: 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.
AZ-GROUP
Largest movements
- Cash +€60,995
up €60,995 (+102.3%), from €59,622 to €120,617
mainly Net result for the year (+€53,776) and Receivables within one year (+€37,203)
- Receivables within one year -€37,203
down €37,203 (-20.1%), from €184,981 to €147,778
of which Trade receivables: -€29,621
- Tangible fixed assets -€8,631
down €8,631 (-19.7%), from €43,882 to €35,251
of which Furniture and vehicles: -€5,698
- Deferred charges and accrued income +€4,606
up €4,606 (+2103.2%), from €219 to €4,825
- Profit (loss) carried forward +€28,776
up €28,776 (+33.7%), from €85,464 to €114,240
- Trade debts -€11,230
down €11,230 (-26.8%), from €41,900 to €30,670
- Tax, wage and social debts +€9,762
up €9,762 (+22.5%), from €43,424 to €53,186
of which Remuneration and social security: +€5,462
- Debts after one year -€8,128
down €8,128 (-37.4%), from €21,724 to €13,596
- Turnover +€292,824
up €292,824 (+19.8%), from €1.5m to €1.8m
- Gross operating margin +€148,472
up €148,472 (+31.2%), from €476,281 to €624,753
- Purchases and services +€137,575
up €137,575 (+13.3%), from €1.0m to €1.2m
- Staff costs +€98,300
up €98,300 (+24.3%), from €405,056 to €503,356
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 | €302,412 | €322,179 | +€19,767 | +6.5% |
| Fixed assets | 21/28 | €46,382 | €37,751 | -€8,631 | -18.6% |
| Tangible fixed assets | 22/27 | €43,882 | €35,251 | -€8,631 | -19.7% |
| Plant, machinery and equipment | 23 | €4,991 | €2,058 | -€2,933 | -58.8% |
| Furniture and vehicles | 24 | €38,891 | €33,193 | -€5,698 | -14.7% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €256,030 | €284,428 | +€28,398 | +11.1% |
| Stocks and contracts in progress | 3 | €11,208 | €11,208 | = | 0.0% |
| Stocks | 30/36 | €11,208 | €11,208 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €184,981 | €147,778 | -€37,203 | -20.1% |
| Trade receivables | 40 | €88,306 | €58,685 | -€29,621 | -33.5% |
| Other amounts receivable | 41 | €96,675 | €89,093 | -€7,582 | -7.8% |
| Cash at bank and in hand | 54/58 | €59,622 | €120,617 | +€60,995 | +102.3% |
| Deferred charges and accrued income | 490/1 | €219 | €4,825 | +€4,606 | +2103.2% |
| Total equity and liabilities | 10/49 | €302,412 | €322,179 | +€19,767 | +6.5% |
| Equity | 10/15 | €161,874 | €190,650 | +€28,776 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,810 | €57,810 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,950 | €55,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,464 | €114,240 | +€28,776 | +33.7% |
| Amounts payable | 17/49 | €140,538 | €131,529 | -€9,009 | -6.4% |
| Amounts payable after more than one year | 17 | €21,724 | €13,596 | -€8,128 | -37.4% |
| Financial debts | 170/4 | €21,724 | €13,596 | -€8,128 | -37.4% |
| Amounts payable within one year | 42/48 | €118,814 | €117,933 | -€881 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €7,790 | €9,577 | +€1,787 | +22.9% |
| Trade debts | 44 | €41,900 | €30,670 | -€11,230 | -26.8% |
| Suppliers | 440/4 | €41,900 | €30,670 | -€11,230 | -26.8% |
| Taxes, remuneration and social security | 45 | €43,424 | €53,186 | +€9,762 | +22.5% |
| Taxes | 450/3 | €1,265 | €5,565 | +€4,300 | +339.9% |
| Remuneration and social security | 454/9 | €42,159 | €47,621 | +€5,462 | +13.0% |
| Other amounts payable | 47/48 | €25,700 | €24,500 | -€1,200 | -4.7% |
| Turnover | 70 | €1,479,973 | €1,772,797 | +€292,824 | +19.8% |
| Non-recurring operating income | 76A | €3,306 | - | -€3,306 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,035,410 | €1,172,985 | +€137,575 | +13.3% |
| Remuneration, social security and pensions | 62 | €405,056 | €503,356 | +€98,300 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,092 | €15,519 | +€427 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8 | €16,658 | +€16,666 | |
| Other operating charges | 640/8 | €12,358 | €11,632 | -€726 | -5.9% |
| Gross operating margin | 9900 | €476,281 | €624,753 | +€148,472 | +31.2% |
| Operating profit (loss) | 9901 | €43,783 | €77,588 | +€33,805 | +77.2% |
| Financial income | 75/76B | €6,118 | €1,766 | -€4,352 | -71.1% |
| Recurring financial income | 75 | €6,118 | €1,766 | -€4,352 | -71.1% |
| Financial charges | 65/66B | €5,319 | €2,547 | -€2,772 | -52.1% |
| Recurring financial charges | 65 | €5,319 | €2,547 | -€2,772 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | €44,582 | €76,807 | +€32,225 | +72.3% |
| Income taxes | 67/77 | €19,011 | €23,031 | +€4,020 | +21.1% |
| Profit (loss) for the period | 9904 | €25,571 | €53,776 | +€28,205 | +110.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,571 | €53,776 | +€28,205 | +110.3% |
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.