AZAIM: 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.
AZAIM
Largest movements
- Cash +€58,331
up €58,331 (+26.1%), from €223,834 to €282,164
mainly Other debts (+€150,000) and Net result for the year (+€87,506)
- Tangible fixed assets +€55,853
up €55,853 (+171%), from €32,626 to €88,479
of which Furniture and vehicles: +€53,562
- Receivables within one year +€9,877
up €9,877 (+20.3%), from €48,731 to €58,608
of which Trade receivables: +€8,737
- Other debts +€150,000
new in 2025: €150,000
- Profit (loss) carried forward -€62,494
down €62,494 (-33.8%), from €184,719 to €122,225
- Tax, wage and social debts +€30,989
up €30,989 (+44.9%), from €68,950 to €99,939
of which Taxes: +€30,323
- Gross operating margin -€41,004
down €41,004 (-16.2%), from €253,098 to €212,094
- Taxes -€12,031
down €12,031 (-26.1%), from €46,112 to €34,081
- Other operating charges +€6,040
up €6,040 (+155%), from €3,897 to €9,936
- Depreciation +€4,821
up €4,821 (+34.4%), from €14,026 to €18,846
- Staff costs -€4,184
down €4,184 (-7.2%), from €58,392 to €54,208
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 | €331,360 | €451,515 | +€120,154 | +36.3% |
| Fixed assets | 21/28 | €56,626 | €108,479 | +€51,853 | +91.6% |
| Intangible fixed assets | 21 | €12,000 | €8,000 | -€4,000 | -33.3% |
| Tangible fixed assets | 22/27 | €32,626 | €88,479 | +€55,853 | +171% |
| Plant, machinery and equipment | 23 | €8,808 | €6,874 | -€1,934 | -22.0% |
| Furniture and vehicles | 24 | €21,605 | €75,167 | +€53,562 | +248% |
| Other tangible fixed assets | 26 | €2,214 | €6,438 | +€4,224 | +191% |
| Financial fixed assets | 28 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €274,734 | €343,036 | +€68,302 | +24.9% |
| Stocks and contracts in progress | 3 | €1,905 | €1,643 | -€261 | -13.7% |
| Stocks | 30/36 | €1,905 | €1,643 | -€261 | -13.7% |
| Amounts receivable within one year | 40/41 | €48,731 | €58,608 | +€9,877 | +20.3% |
| Trade receivables | 40 | €48,582 | €57,320 | +€8,737 | +18.0% |
| Other amounts receivable | 41 | €149 | €1,289 | +€1,139 | +764% |
| Cash at bank and in hand | 54/58 | €223,834 | €282,164 | +€58,331 | +26.1% |
| Deferred charges and accrued income | 490/1 | €264 | €620 | +€356 | +135% |
| Total equity and liabilities | 10/49 | €331,360 | €451,515 | +€120,154 | +36.3% |
| Equity | 10/15 | €203,319 | €140,825 | -€62,494 | -30.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,719 | €122,225 | -€62,494 | -33.8% |
| Amounts payable | 17/49 | €128,041 | €310,690 | +€182,649 | +143% |
| Amounts payable within one year | 42/48 | €128,041 | €310,690 | +€182,649 | +143% |
| Trade debts | 44 | €42,655 | €45,887 | +€3,232 | +7.6% |
| Suppliers | 440/4 | €42,655 | €45,887 | +€3,232 | +7.6% |
| Advances received on contracts in progress | 46 | €16,436 | €14,864 | -€1,571 | -9.6% |
| Taxes, remuneration and social security | 45 | €68,950 | €99,939 | +€30,989 | +44.9% |
| Taxes | 450/3 | €54,052 | €84,375 | +€30,323 | +56.1% |
| Remuneration and social security | 454/9 | €14,898 | €15,564 | +€666 | +4.5% |
| Other amounts payable | 47/48 | - | €150,000 | +€150,000 | |
| Non-recurring operating income | 76A | - | €13,861 | +€13,861 | |
| Remuneration, social security and pensions | 62 | €58,392 | €54,208 | -€4,184 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,026 | €18,846 | +€4,821 | +34.4% |
| Other operating charges | 640/8 | €3,897 | €9,936 | +€6,040 | +155% |
| Gross operating margin | 9900 | €253,098 | €212,094 | -€41,004 | -16.2% |
| Operating profit (loss) | 9901 | €176,784 | €129,103 | -€47,681 | -27.0% |
| Financial income | 75/76B | €43 | €55 | +€12 | +29.0% |
| Recurring financial income | 75 | €43 | €55 | +€12 | +29.0% |
| Financial charges | 65/66B | €9,550 | €7,571 | -€1,979 | -20.7% |
| Recurring financial charges | 65 | €9,550 | €7,571 | -€1,979 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €167,276 | €121,587 | -€45,690 | -27.3% |
| Income taxes | 67/77 | €46,112 | €34,081 | -€12,031 | -26.1% |
| Profit (loss) for the period | 9904 | €121,165 | €87,506 | -€33,659 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €121,165 | €87,506 | -€33,659 | -27.8% |
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 14 October 2026 via checked.be.