AZE Projects: 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.
AZE Projects
Largest movements
- Tangible fixed assets -€27,215
down €27,215 (-62.2%), from €43,772 to €16,557
- Receivables within one year -€13,797
down €13,797 (-100.0%), from €13,797 to €0
of which Trade receivables: -€12,797
- Deferred charges and accrued income +€3,287
up €3,287 (+1541.2%), from €213 to €3,500
- Reserves -€22,330
down €22,330 (-88.1%), from €25,343 to €3,012
- Current portion of long-term debt -€10,347
down €10,347 (-100.0%), from €10,347 to €0
- Other debts +€7,449
up €7,449 (+85.7%), from €8,688 to €16,137
- Trade debts -€5,783
down €5,783 (-76.9%), from €7,521 to €1,738
- Tax, wage and social debts -€5,541
down €5,541 (-45.9%), from €12,059 to €6,518
of which Taxes: -€5,541
- Gross operating margin -€44,470
down €44,470, from €30,149 to -€14,321
- Depreciation -€8,455
down €8,455 (-73.6%), from €11,494 to €3,039
- Financial charges -€1,703
down €1,703 (-67.2%), from €2,533 to €830
- Taxes -€1,649
down €1,649 (-96.2%), from €1,714 to €66
- Other operating charges -€985
down €985 (-76.2%), from €1,294 to €309
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 | €67,231 | €29,406 | -€37,825 | -56.3% |
| Fixed assets | 21/28 | €43,772 | €16,557 | -€27,215 | -62.2% |
| Tangible fixed assets | 22/27 | €43,772 | €16,557 | -€27,215 | -62.2% |
| Furniture and vehicles | 24 | €43,772 | €16,557 | -€27,215 | -62.2% |
| Current assets | 29/58 | €23,458 | €12,849 | -€10,610 | -45.2% |
| Amounts receivable within one year | 40/41 | €13,797 | €0 | -€13,797 | -100.0% |
| Trade receivables | 40 | €12,797 | €0 | -€12,797 | -100.0% |
| Other amounts receivable | 41 | €1,000 | €0 | -€1,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,449 | €9,349 | -€100 | -1.1% |
| Deferred charges and accrued income | 490/1 | €213 | €3,500 | +€3,287 | +1541.2% |
| Total equity and liabilities | 10/49 | €67,231 | €29,406 | -€37,825 | -56.3% |
| Equity | 10/15 | €27,343 | €5,012 | -€22,330 | -81.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €25,343 | €3,012 | -€22,330 | -88.1% |
| Distributable reserves | 133 | €25,343 | €3,012 | -€22,330 | -88.1% |
| Amounts payable | 17/49 | €39,888 | €24,394 | -€15,495 | -38.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €38,615 | €24,394 | -€14,221 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €10,347 | €0 | -€10,347 | -100.0% |
| Trade debts | 44 | €7,521 | €1,738 | -€5,783 | -76.9% |
| Suppliers | 440/4 | €7,521 | €1,738 | -€5,783 | -76.9% |
| Taxes, remuneration and social security | 45 | €12,059 | €6,518 | -€5,541 | -45.9% |
| Taxes | 450/3 | €12,059 | €6,518 | -€5,541 | -45.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,688 | €16,137 | +€7,449 | +85.7% |
| Accrued charges and deferred income | 492/3 | €1,273 | €0 | -€1,273 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,494 | €3,039 | -€8,455 | -73.6% |
| Other operating charges | 640/8 | €1,294 | €309 | -€985 | -76.2% |
| Non-recurring operating charges | 66A | €10,471 | €3,767 | -€6,704 | -64.0% |
| Gross operating margin | 9900 | €30,149 | -€14,321 | -€44,470 | |
| Operating profit (loss) | 9901 | €6,890 | -€21,435 | -€28,326 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €2,533 | €830 | -€1,703 | -67.2% |
| Recurring financial charges | 65 | €2,533 | €830 | -€1,703 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | €4,357 | -€22,265 | -€26,622 | |
| Income taxes | 67/77 | €1,714 | €66 | -€1,649 | -96.2% |
| Profit (loss) for the period | 9904 | €2,643 | -€22,330 | -€24,973 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,643 | -€22,330 | -€24,973 |
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.