AZALEUS: 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.
AZALEUS
Largest movements
- Cash +€11,149
up €11,149 (+16.9%), from €65,845 to €76,994
mainly Other debts (+€11,775) and Depreciation (+€4,643)
- Tangible fixed assets -€4,643
down €4,643 (-43.1%), from €10,773 to €6,130
- Receivables within one year +€2,968
up €2,968 (+22.0%), from €13,504 to €16,472
of which Trade receivables: +€4,498
- Other debts +€11,775
up €11,775 (+34.4%), from €34,208 to €45,983
- Current portion of long-term debt -€2,729
no longer reported in 2025 (was €2,729)
- Financial charges +€7,907
up €7,907 (+20.1%), from €39,314 to €47,221
- Gross operating margin +€5,889
up €5,889 (+12.4%), from €47,330 to €53,218
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 | €90,123 | €99,596 | +€9,474 | +10.5% |
| Fixed assets | 21/28 | €10,773 | €6,130 | -€4,643 | -43.1% |
| Tangible fixed assets | 22/27 | €10,773 | €6,130 | -€4,643 | -43.1% |
| Furniture and vehicles | 24 | €10,773 | €6,130 | -€4,643 | -43.1% |
| Current assets | 29/58 | €79,349 | €93,466 | +€14,117 | +17.8% |
| Amounts receivable within one year | 40/41 | €13,504 | €16,472 | +€2,968 | +22.0% |
| Trade receivables | 40 | €10,808 | €15,305 | +€4,498 | +41.6% |
| Other amounts receivable | 41 | €2,697 | €1,167 | -€1,530 | -56.7% |
| Cash at bank and in hand | 54/58 | €65,845 | €76,994 | +€11,149 | +16.9% |
| Total equity and liabilities | 10/49 | €90,123 | €99,596 | +€9,474 | +10.5% |
| Equity | 10/15 | €44,649 | €44,691 | +€43 | +0.1% |
| Contributions | 10/11 | €1,800 | €1,800 | = | 0.0% |
| Reserves | 13 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,349 | €5,391 | +€43 | +0.8% |
| Amounts payable | 17/49 | €45,474 | €54,905 | +€9,431 | +20.7% |
| Amounts payable within one year | 42/48 | €45,474 | €54,905 | +€9,431 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €2,729 | - | -€2,729 | |
| Trade debts | 44 | €763 | €791 | +€28 | +3.6% |
| Suppliers | 440/4 | €763 | €791 | +€28 | +3.6% |
| Taxes, remuneration and social security | 45 | €7,774 | €8,131 | +€357 | +4.6% |
| Taxes | 450/3 | €7,774 | €8,131 | +€357 | +4.6% |
| Other amounts payable | 47/48 | €34,208 | €45,983 | +€11,775 | +34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,643 | €4,643 | = | 0.0% |
| Other operating charges | 640/8 | €177 | €183 | +€6 | +3.4% |
| Gross operating margin | 9900 | €47,330 | €53,218 | +€5,889 | +12.4% |
| Operating profit (loss) | 9901 | €42,509 | €48,392 | +€5,883 | +13.8% |
| Financial charges | 65/66B | €39,314 | €47,221 | +€7,907 | +20.1% |
| Recurring financial charges | 65 | €39,314 | €47,221 | +€7,907 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €3,196 | €1,171 | -€2,024 | -63.3% |
| Income taxes | 67/77 | €1,551 | €1,129 | -€422 | -27.2% |
| Profit (loss) for the period | 9904 | €1,645 | €43 | -€1,602 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,645 | €43 | -€1,602 | -97.4% |
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 4 October 2026 via checked.be.