AZ IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€18,368
down €18,368 (-7.5%), from €244,491 to €226,123
- Cash +€2,616
up €2,616 (+410.7%), from €637 to €3,253
mainly Depreciation (+€18,368) and Trade debts (+€3,776)
- Debts after one year -€6,881
down €6,881 (-14.1%), from €48,950 to €42,069
- Profit (loss) carried forward -€4,070
down €4,070, from €3,927 to -€143
- Trade debts +€3,776
up €3,776 (+156.6%), from €2,412 to €6,188
- Other debts -€3,585
down €3,585 (-4.3%), from €83,490 to €79,905
- Reserves -€2,909
down €2,909 (-5.7%), from €51,339 to €48,430
of which Tax-exempt reserves: -€2,909
- Turnover +€23,000
new in 2025: €23,000
- Purchases and services +€3,281
new in 2025: €3,281
- Depreciation +€2,484
up €2,484 (+15.6%), from €15,884 to €18,368
- Taxes -€2,361
down €2,361 (-44.4%), from €5,321 to €2,960
- Gross operating margin -€2,010
down €2,010 (-9.2%), from €21,937 to €19,927
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 | €245,128 | €229,376 | -€15,752 | -6.4% |
| Fixed assets | 21/28 | €244,491 | €226,123 | -€18,368 | -7.5% |
| Tangible fixed assets | 22/27 | €244,491 | €226,123 | -€18,368 | -7.5% |
| Land and buildings | 22 | €244,491 | €226,123 | -€18,368 | -7.5% |
| Current assets | 29/58 | €637 | €3,253 | +€2,616 | +410.7% |
| Cash at bank and in hand | 54/58 | €637 | €3,253 | +€2,616 | +410.7% |
| Total equity and liabilities | 10/49 | €245,128 | €229,376 | -€15,752 | -6.4% |
| Equity | 10/15 | €74,016 | €67,037 | -€6,979 | -9.4% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €51,339 | €48,430 | -€2,909 | -5.7% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,464 | €46,555 | -€2,909 | -5.9% |
| Profit (loss) carried forward | 14 | €3,927 | -€143 | -€4,070 | |
| Provisions and deferred taxes | 16 | €20,204 | €19,015 | -€1,189 | -5.9% |
| Deferred taxes | 168 | €20,204 | €19,015 | -€1,189 | -5.9% |
| Amounts payable | 17/49 | €150,908 | €143,324 | -€7,584 | -5.0% |
| Amounts payable after more than one year | 17 | €48,950 | €42,069 | -€6,881 | -14.1% |
| Financial debts | 170/4 | €48,950 | €42,069 | -€6,881 | -14.1% |
| Amounts payable within one year | 42/48 | €101,958 | €101,255 | -€703 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €6,696 | €6,881 | +€185 | +2.8% |
| Trade debts | 44 | €2,412 | €6,188 | +€3,776 | +156.6% |
| Suppliers | 440/4 | €2,412 | €6,188 | +€3,776 | +156.6% |
| Taxes, remuneration and social security | 45 | €9,360 | €8,281 | -€1,079 | -11.5% |
| Taxes | 450/3 | €9,360 | €8,281 | -€1,079 | -11.5% |
| Other amounts payable | 47/48 | €83,490 | €79,905 | -€3,585 | -4.3% |
| Turnover | 70 | - | €23,000 | +€23,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,281 | +€3,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,884 | €18,368 | +€2,484 | +15.6% |
| Other operating charges | 640/8 | €4,577 | €5,027 | +€450 | +9.8% |
| Gross operating margin | 9900 | €21,937 | €19,927 | -€2,010 | -9.2% |
| Operating profit (loss) | 9901 | €1,476 | -€3,468 | -€4,944 | |
| Financial charges | 65/66B | €1,931 | €1,740 | -€191 | -9.9% |
| Recurring financial charges | 65 | €1,931 | €1,740 | -€191 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€455 | -€5,208 | -€4,753 | -1044.6% |
| Transfer from deferred taxes | 780 | €1,188 | €1,188 | = | 0.0% |
| Income taxes | 67/77 | €5,321 | €2,960 | -€2,361 | -44.4% |
| Profit (loss) for the period | 9904 | -€4,588 | -€6,980 | -€2,392 | -52.1% |
| Transfer from tax-exempt reserves | 789 | €2,910 | €2,910 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,678 | -€4,070 | -€2,392 | -142.6% |
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 6 October 2026 via checked.be.