AZARIAS: 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.
AZARIAS
Largest movements
- Current investments +€47,667
up €47,667 (+330.5%), from €14,421 to €62,088
- Receivables within one year -€28,327
down €28,327 (-73.3%), from €38,651 to €10,324
- Cash -€14,975
down €14,975 (-14.4%), from €103,777 to €88,802
mainly Contributions, distributions and other (-€273,787) and Debts after one year (-€72,612)
- Reserves -€105,543
down €105,543 (-49.7%), from €212,546 to €107,003
- Other debts +€91,000
new in 2025: €91,000
- Tax, wage and social debts +€77,173
up €77,173 (+142.5%), from €54,158 to €131,330
of which Taxes: +€66,671
- Debts after one year -€72,612
down €72,612 (-26.6%), from €273,313 to €200,701
- Staff costs -€104,305
down €104,305 (-30.8%), from €338,483 to €234,177
- Gross operating margin -€31,239
down €31,239 (-5.6%), from €558,444 to €527,205
- Taxes +€29,294
up €29,294 (+100.9%), from €29,035 to €58,328
- Financial charges -€15,237
down €15,237 (-55.2%), from €27,623 to €12,386
- Depreciation -€11,678
down €11,678 (-18.9%), from €61,816 to €50,137
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 | €1,005,436 | €1,003,797 | -€1,639 | -0.2% |
| Fixed assets | 21/28 | €832,044 | €826,644 | -€5,400 | -0.6% |
| Tangible fixed assets | 22/27 | €831,544 | €826,144 | -€5,400 | -0.6% |
| Land and buildings | 22 | €753,126 | €722,164 | -€30,961 | -4.1% |
| Plant, machinery and equipment | 23 | €67,703 | €69,146 | +€1,443 | +2.1% |
| Furniture and vehicles | 24 | €10,715 | €10,130 | -€585 | -5.5% |
| Assets under construction and advance payments | 27 | - | €24,704 | +€24,704 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €173,392 | €177,153 | +€3,761 | +2.2% |
| Amounts receivable within one year | 40/41 | €38,651 | €10,324 | -€28,327 | -73.3% |
| Other amounts receivable | 41 | €38,651 | €10,324 | -€28,327 | -73.3% |
| Current investments | 50/53 | €14,421 | €62,088 | +€47,667 | +330.5% |
| Cash at bank and in hand | 54/58 | €103,777 | €88,802 | -€14,975 | -14.4% |
| Deferred charges and accrued income | 490/1 | €16,543 | €15,939 | -€604 | -3.6% |
| Total equity and liabilities | 10/49 | €1,005,436 | €1,003,797 | -€1,639 | -0.2% |
| Equity | 10/15 | €550,622 | €445,079 | -€105,543 | -19.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €325,676 | €325,676 | = | 0.0% |
| Reserves | 13 | €212,546 | €107,003 | -€105,543 | -49.7% |
| Distributable reserves | 133 | €212,546 | €107,003 | -€105,543 | -49.7% |
| Amounts payable | 17/49 | €454,814 | €558,718 | +€103,904 | +22.8% |
| Amounts payable after more than one year | 17 | €273,313 | €200,701 | -€72,612 | -26.6% |
| Financial debts | 170/4 | €273,313 | €200,701 | -€72,612 | -26.6% |
| Amounts payable within one year | 42/48 | €180,470 | €351,288 | +€170,817 | +94.7% |
| Current portion of amounts payable after more than one year | 42 | €71,028 | €72,612 | +€1,584 | +2.2% |
| Trade debts | 44 | €55,285 | €56,346 | +€1,060 | +1.9% |
| Suppliers | 440/4 | €55,285 | €56,346 | +€1,060 | +1.9% |
| Taxes, remuneration and social security | 45 | €54,158 | €131,330 | +€77,173 | +142.5% |
| Taxes | 450/3 | €30,609 | €97,279 | +€66,671 | +217.8% |
| Remuneration and social security | 454/9 | €23,549 | €34,051 | +€10,502 | +44.6% |
| Other amounts payable | 47/48 | - | €91,000 | +€91,000 | |
| Accrued charges and deferred income | 492/3 | €1,031 | €6,729 | +€5,698 | +553.0% |
| Non-recurring operating income | 76A | €673 | €56 | -€617 | -91.7% |
| Remuneration, social security and pensions | 62 | €338,483 | €234,177 | -€104,305 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,816 | €50,137 | -€11,678 | -18.9% |
| Other operating charges | 640/8 | €7,975 | €3,992 | -€3,983 | -49.9% |
| Non-recurring operating charges | 66A | €7,799 | €103 | -€7,696 | -98.7% |
| Gross operating margin | 9900 | €558,444 | €527,205 | -€31,239 | -5.6% |
| Operating profit (loss) | 9901 | €142,371 | €238,795 | +€96,424 | +67.7% |
| Financial income | 75/76B | €36 | €164 | +€127 | +350.4% |
| Recurring financial income | 75 | €36 | €164 | +€127 | +350.4% |
| Financial charges | 65/66B | €27,623 | €12,386 | -€15,237 | -55.2% |
| Recurring financial charges | 65 | €27,623 | €12,386 | -€15,237 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €114,784 | €226,573 | +€111,789 | +97.4% |
| Income taxes | 67/77 | €29,035 | €58,328 | +€29,294 | +100.9% |
| Profit (loss) for the period | 9904 | €85,749 | €168,244 | +€82,495 | +96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,749 | €168,244 | +€82,495 | +96.2% |
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.