AZDAD: 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.
AZDAD
Largest movements
- Receivables within one year +€19,297
up €19,297 (+33.6%), from €57,451 to €76,748
of which Trade receivables: +€12,401
- Cash +€18,922
up €18,922 (+165%), from €11,481 to €30,403
mainly Trade debts (+€30,899) and Depreciation (+€14,945)
- Tangible fixed assets -€12,375
down €12,375 (-26.9%), from €46,076 to €33,701
of which Furniture and vehicles: -€12,075
- Trade debts +€30,899
up €30,899 (+48.8%), from €63,372 to €94,271
- Debts after one year -€6,914
down €6,914 (-33.8%), from €20,433 to €13,519
- Tax, wage and social debts +€1,496
up €1,496 (+11.7%), from €12,803 to €14,299
of which Remuneration and social security: +€2,209
- Turnover +€70,949
up €70,949 (+27.1%), from €261,986 to €332,935
- Purchases and services +€60,451
up €60,451 (+30.1%), from €200,761 to €261,212
- Staff costs +€11,940
up €11,940 (+29.9%), from €39,953 to €51,893
- Gross operating margin +€10,262
up €10,262 (+16.7%), from €61,461 to €71,723
- Other operating charges -€4,930
down €4,930 (-84.2%), from €5,858 to €928
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.
Derived cash bridge
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 | €122,079 | €147,760 | +€25,681 | +21.0% |
| Fixed assets | 21/28 | €46,239 | €33,701 | -€12,538 | -27.1% |
| Intangible fixed assets | 21 | €163 | - | -€163 | |
| Tangible fixed assets | 22/27 | €46,076 | €33,701 | -€12,375 | -26.9% |
| Plant, machinery and equipment | 23 | €900 | €600 | -€300 | -33.3% |
| Furniture and vehicles | 24 | €45,176 | €33,101 | -€12,075 | -26.7% |
| Current assets | 29/58 | €75,840 | €114,059 | +€38,219 | +50.4% |
| Amounts receivable within one year | 40/41 | €57,451 | €76,748 | +€19,297 | +33.6% |
| Trade receivables | 40 | €56,553 | €68,954 | +€12,401 | +21.9% |
| Other amounts receivable | 41 | €898 | €7,794 | +€6,896 | +768% |
| Cash at bank and in hand | 54/58 | €11,481 | €30,403 | +€18,922 | +165% |
| Deferred charges and accrued income | 490/1 | €6,908 | €6,908 | = | 0.0% |
| Total equity and liabilities | 10/49 | €122,079 | €147,760 | +€25,681 | +21.0% |
| Equity | 10/15 | €25,471 | €25,671 | +€200 | +0.8% |
| Contributions | 10/11 | €10,100 | €10,100 | = | 0.0% |
| Capital | 10 | €10,100 | €10,100 | = | 0.0% |
| Issued capital | 100 | €10,100 | €10,100 | = | 0.0% |
| Reserves | 13 | €613 | €613 | = | 0.0% |
| Non-distributable reserves | 130/1 | €613 | €613 | = | 0.0% |
| Legal reserve | 130 | €613 | €613 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,758 | €14,958 | +€200 | +1.4% |
| Amounts payable | 17/49 | €96,608 | €122,089 | +€25,481 | +26.4% |
| Amounts payable after more than one year | 17 | €20,433 | €13,519 | -€6,914 | -33.8% |
| Financial debts | 170/4 | €20,433 | €13,519 | -€6,914 | -33.8% |
| Amounts payable within one year | 42/48 | €76,175 | €108,570 | +€32,395 | +42.5% |
| Trade debts | 44 | €63,372 | €94,271 | +€30,899 | +48.8% |
| Suppliers | 440/4 | €63,372 | €94,271 | +€30,899 | +48.8% |
| Taxes, remuneration and social security | 45 | €12,803 | €14,299 | +€1,496 | +11.7% |
| Taxes | 450/3 | €950 | €237 | -€713 | -75.1% |
| Remuneration and social security | 454/9 | €11,853 | €14,062 | +€2,209 | +18.6% |
| Turnover | 70 | €261,986 | €332,935 | +€70,949 | +27.1% |
| Non-recurring operating income | 76A | €236 | - | -€236 | |
| Goods, raw materials, services and sundry goods | 60/61 | €200,761 | €261,212 | +€60,451 | +30.1% |
| Remuneration, social security and pensions | 62 | €39,953 | €51,893 | +€11,940 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,872 | €14,945 | +€1,073 | +7.7% |
| Other operating charges | 640/8 | €5,858 | €928 | -€4,930 | -84.2% |
| Gross operating margin | 9900 | €61,461 | €71,723 | +€10,262 | +16.7% |
| Operating profit (loss) | 9901 | €1,778 | €3,957 | +€2,179 | +123% |
| Financial charges | 65/66B | €670 | €757 | +€87 | +13.0% |
| Recurring financial charges | 65 | €670 | €757 | +€87 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €1,108 | €3,200 | +€2,092 | +189% |
| Income taxes | 67/77 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€1,892 | €200 | +€2,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,892 | €200 | +€2,092 |
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 29 October 2026 via checked.be.