AZB MANAGEMENT: 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.
AZB MANAGEMENT
Largest movements
- Receivables within one year +€91,326
up €91,326 (+1804.5%), from €5,061 to €96,387
of which Other amounts receivable: +€79,226
- Cash +€6,048
up €6,048 (+276.9%), from €2,184 to €8,232
mainly Net result for the year (+€146,181) and Current portion of long-term debt (+€3,760)
- Profit (loss) carried forward +€146,181
up €146,181 (+85.7%), from €170,476 to €316,657
- Debts after one year -€37,403
down €37,403 (-53.5%), from €69,850 to €32,446
- Other debts -€11,067
down €11,067 (-100.0%), from €11,071 to €4
- Trade debts -€9,406
down €9,406 (-90.1%), from €10,443 to €1,037
- Financial income +€113,280
new in 2025: €113,280
- Gross operating margin +€22,571
up €22,571 (+64.6%), from €34,951 to €57,522
- Financial charges +€6,408
up €6,408 (+104.0%), from €6,163 to €12,571
- Taxes +€1,285
up €1,285 (+12.6%), from €10,208 to €11,493
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 | €315,788 | €412,369 | +€96,581 | +30.6% |
| Fixed assets | 21/28 | €307,908 | €307,750 | -€158 | -0.1% |
| Tangible fixed assets | 22/27 | €158 | - | -€158 | |
| Furniture and vehicles | 24 | €158 | - | -€158 | |
| Financial fixed assets | 28 | €307,750 | €307,750 | = | 0.0% |
| Current assets | 29/58 | €7,880 | €104,619 | +€96,739 | +1227.6% |
| Amounts receivable within one year | 40/41 | €5,061 | €96,387 | +€91,326 | +1804.5% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €5,061 | €84,287 | +€79,226 | +1565.5% |
| Cash at bank and in hand | 54/58 | €2,184 | €8,232 | +€6,048 | +276.9% |
| Deferred charges and accrued income | 490/1 | €635 | - | -€635 | |
| Total equity and liabilities | 10/49 | €315,788 | €412,369 | +€96,581 | +30.6% |
| Equity | 10/15 | €185,476 | €331,657 | +€146,181 | +78.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,476 | €316,657 | +€146,181 | +85.7% |
| Amounts payable | 17/49 | €130,312 | €80,713 | -€49,599 | -38.1% |
| Amounts payable after more than one year | 17 | €69,850 | €32,446 | -€37,403 | -53.5% |
| Financial debts | 170/4 | €69,850 | €32,446 | -€37,403 | -53.5% |
| Amounts payable within one year | 42/48 | €60,463 | €44,667 | -€15,796 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €33,643 | €37,403 | +€3,760 | +11.2% |
| Trade debts | 44 | €10,443 | €1,037 | -€9,406 | -90.1% |
| Suppliers | 440/4 | €10,443 | €1,037 | -€9,406 | -90.1% |
| Taxes, remuneration and social security | 45 | €5,306 | €6,222 | +€916 | +17.3% |
| Taxes | 450/3 | €5,306 | €6,222 | +€916 | +17.3% |
| Other amounts payable | 47/48 | €11,071 | €4 | -€11,067 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €3,600 | +€3,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €362 | €158 | -€204 | -56.4% |
| Other operating charges | 640/8 | €425 | €400 | -€26 | -6.0% |
| Gross operating margin | 9900 | €34,951 | €57,522 | +€22,571 | +64.6% |
| Operating profit (loss) | 9901 | €34,164 | €56,964 | +€22,801 | +66.7% |
| Financial income | 75/76B | - | €113,280 | +€113,280 | |
| Recurring financial income | 75 | - | €113,280 | +€113,280 | |
| Financial charges | 65/66B | €6,163 | €12,571 | +€6,408 | +104.0% |
| Recurring financial charges | 65 | €6,163 | €12,571 | +€6,408 | +104.0% |
| Profit (loss) for the period before taxes | 9903 | €28,001 | €157,673 | +€129,672 | +463.1% |
| Income taxes | 67/77 | €10,208 | €11,493 | +€1,285 | +12.6% |
| Profit (loss) for the period | 9904 | €17,793 | €146,181 | +€128,388 | +721.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,793 | €146,181 | +€128,388 | +721.6% |
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.