AZALEA: 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.
AZALEA
Largest movements
- Cash -€43,458
down €43,458 (-36.1%), from €120,431 to €76,973
mainly Current investments (-€28,188) and Investment in fixed assets (net) (-€10,336)
- Current investments +€28,188
new in 2025: €28,188
- Tangible fixed assets +€7,014
up €7,014 (+12.0%), from €58,370 to €65,383
of which Land and buildings: +€7,411
- Reserves -€9,498
down €9,498 (-5.6%), from €169,438 to €159,940
- Gross operating margin +€2,459
up €2,459 (+55.6%), from -€4,421 to -€1,962
- Other operating charges +€120
up €120 (+2.9%), from €4,178 to €4,298
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 | €184,022 | €176,429 | -€7,593 | -4.1% |
| Fixed assets | 21/28 | €58,370 | €65,383 | +€7,014 | +12.0% |
| Tangible fixed assets | 22/27 | €58,370 | €65,383 | +€7,014 | +12.0% |
| Land and buildings | 22 | €57,972 | €65,383 | +€7,411 | +12.8% |
| Plant, machinery and equipment | 23 | €397 | €0 | -€397 | -100.0% |
| Current assets | 29/58 | €125,652 | €111,046 | -€14,607 | -11.6% |
| Amounts receivable within one year | 40/41 | €3,975 | €4,620 | +€645 | +16.2% |
| Other amounts receivable | 41 | €3,975 | €4,620 | +€645 | +16.2% |
| Current investments | 50/53 | - | €28,188 | +€28,188 | |
| Cash at bank and in hand | 54/58 | €120,431 | €76,973 | -€43,458 | -36.1% |
| Deferred charges and accrued income | 490/1 | €1,246 | €1,265 | +€19 | +1.5% |
| Total equity and liabilities | 10/49 | €184,022 | €176,429 | -€7,593 | -4.1% |
| Equity | 10/15 | €183,949 | €174,450 | -€9,498 | -5.2% |
| Contributions | 10/11 | €14,510 | €14,510 | = | 0.0% |
| Reserves | 13 | €169,438 | €159,940 | -€9,498 | -5.6% |
| Distributable reserves | 133 | €169,438 | €159,940 | -€9,498 | -5.6% |
| Amounts payable | 17/49 | €73 | €1,978 | +€1,905 | +2596.4% |
| Amounts payable within one year | 42/48 | €73 | €1,978 | +€1,905 | +2596.4% |
| Trade debts | 44 | €0 | €1,838 | +€1,838 | |
| Suppliers | 440/4 | €0 | €1,838 | +€1,838 | |
| Taxes, remuneration and social security | 45 | €73 | €141 | +€67 | +91.8% |
| Taxes | 450/3 | €73 | €141 | +€67 | +91.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,358 | €3,323 | -€35 | -1.0% |
| Other operating charges | 640/8 | €4,178 | €4,298 | +€120 | +2.9% |
| Gross operating margin | 9900 | -€4,421 | -€1,962 | +€2,459 | +55.6% |
| Operating profit (loss) | 9901 | -€11,957 | -€9,582 | +€2,375 | +19.9% |
| Financial income | 75/76B | €234 | €227 | -€7 | -3.1% |
| Recurring financial income | 75 | €234 | €227 | -€7 | -3.1% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,797 | -€9,431 | +€2,366 | +20.1% |
| Income taxes | 67/77 | €73 | €67 | -€6 | -8.2% |
| Profit (loss) for the period | 9904 | -€11,870 | -€9,498 | +€2,372 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,870 | -€9,498 | +€2,372 | +20.0% |
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 2 October 2026 via checked.be.