Azar: 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.
Azar
Largest movements
- Receivables within one year -€18,462
down €18,462 (-53.7%), from €34,363 to €15,901
of which Trade receivables: -€23,849
- Cash +€9,541
up €9,541 (+36.4%), from €26,242 to €35,783
mainly Receivables within one year (+€18,462) and Trade debts (+€5,587)
- Stocks and contracts +€2,000
new in 2025: €2,000
- Other debts -€8,818
down €8,818 (-100.0%), from €8,818 to €0
- Trade debts +€5,587
up €5,587 (+53.5%), from €10,449 to €16,036
- Reserves -€2,400
down €2,400 (-11.1%), from €21,575 to €19,175
- Tax, wage and social debts -€2,223
down €2,223 (-19.3%), from €11,500 to €9,278
- Gross operating margin -€18,121
down €18,121 (-61.4%), from €29,496 to €11,375
- Taxes -€5,934
down €5,934 (-100.0%), from €5,934 to €0
- Depreciation -€962
down €962 (-51.2%), from €1,878 to €916
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 | €62,344 | €54,489 | -€7,855 | -12.6% |
| Fixed assets | 21/28 | €1,721 | €805 | -€916 | -53.2% |
| Intangible fixed assets | 21 | €847 | €431 | -€417 | -49.2% |
| Tangible fixed assets | 22/27 | €874 | €375 | -€499 | -57.1% |
| Plant, machinery and equipment | 23 | €874 | €375 | -€499 | -57.1% |
| Current assets | 29/58 | €60,622 | €53,684 | -€6,939 | -11.4% |
| Stocks and contracts in progress | 3 | - | €2,000 | +€2,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €34,363 | €15,901 | -€18,462 | -53.7% |
| Trade receivables | 40 | €34,363 | €10,514 | -€23,849 | -69.4% |
| Other amounts receivable | 41 | - | €5,387 | +€5,387 | |
| Cash at bank and in hand | 54/58 | €26,242 | €35,783 | +€9,541 | +36.4% |
| Deferred charges and accrued income | 490/1 | €18 | €0 | -€18 | -100.0% |
| Total equity and liabilities | 10/49 | €62,344 | €54,489 | -€7,855 | -12.6% |
| Equity | 10/15 | €31,575 | €29,175 | -€2,400 | -7.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €21,575 | €19,175 | -€2,400 | -11.1% |
| Distributable reserves | 133 | €21,575 | €19,175 | -€2,400 | -11.1% |
| Amounts payable | 17/49 | €30,768 | €25,314 | -€5,455 | -17.7% |
| Amounts payable within one year | 42/48 | €30,767 | €25,314 | -€5,453 | -17.7% |
| Trade debts | 44 | €10,449 | €16,036 | +€5,587 | +53.5% |
| Suppliers | 440/4 | €10,449 | €16,036 | +€5,587 | +53.5% |
| Taxes, remuneration and social security | 45 | €11,500 | €9,278 | -€2,223 | -19.3% |
| Taxes | 450/3 | €11,500 | €9,278 | -€2,223 | -19.3% |
| Other amounts payable | 47/48 | €8,818 | €0 | -€8,818 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2 | €0 | -€2 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,878 | €916 | -€962 | -51.2% |
| Other operating charges | 640/8 | €118 | €0 | -€118 | -100.0% |
| Non-recurring operating charges | 66A | - | €12,980 | +€12,980 | |
| Gross operating margin | 9900 | €29,496 | €11,375 | -€18,121 | -61.4% |
| Operating profit (loss) | 9901 | €27,500 | -€2,521 | -€30,022 | |
| Financial income | 75/76B | €38 | €146 | +€108 | +284.9% |
| Recurring financial income | 75 | €38 | €146 | +€108 | +284.9% |
| Financial charges | 65/66B | €29 | €24 | -€5 | -15.9% |
| Recurring financial charges | 65 | €29 | €24 | -€5 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €27,509 | -€2,400 | -€29,909 | |
| Income taxes | 67/77 | €5,934 | €0 | -€5,934 | -100.0% |
| Profit (loss) for the period | 9904 | €21,575 | -€2,400 | -€23,975 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,575 | -€2,400 | -€23,975 |
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 12 October 2026 via checked.be.