AZELI.MANAGEMENT&CONSULTING: 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.
AZELI.MANAGEMENT&CONSULTING
Largest movements
- Receivables within one year +€60,046
up €60,046 (+381%), from €15,754 to €75,800
of which Trade receivables: +€60,330
- Cash -€45,149
down €45,149 (-25.8%), from €175,310 to €130,162
mainly Other debts (-€84,448) and Contributions, distributions and other (-€76,000)
- Tangible fixed assets -€2,804
down €2,804 (-14.8%), from €18,996 to €16,192
of which Other tangible fixed assets: -€1,784
- Other debts -€84,448
down €84,448 (-50.5%), from €167,320 to €82,872
- Debts after one year +€78,441
new in 2025: €78,441
- Current portion of long-term debt +€26,167
new in 2025: €26,167
- Tax, wage and social debts -€7,879
down €7,879 (-24.9%), from €31,650 to €23,771
- Gross operating margin +€42,586
up €42,586 (+69.9%), from €60,895 to €103,482
- Taxes +€7,425
up €7,425 (+58.4%), from €12,721 to €20,145
- Financial charges +€3,965
up €3,965 (+2,937%), from €135 to €4,100
- Other operating charges -€2,216
down €2,216 (-64.6%), from €3,432 to €1,216
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 | €212,405 | €224,445 | +€12,041 | +5.7% |
| Fixed assets | 21/28 | €19,106 | €16,302 | -€2,804 | -14.7% |
| Tangible fixed assets | 22/27 | €18,996 | €16,192 | -€2,804 | -14.8% |
| Furniture and vehicles | 24 | €3,856 | €2,836 | -€1,020 | -26.4% |
| Other tangible fixed assets | 26 | €15,139 | €13,355 | -€1,784 | -11.8% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €193,299 | €208,144 | +€14,845 | +7.7% |
| Amounts receivable within one year | 40/41 | €15,754 | €75,800 | +€60,046 | +381% |
| Trade receivables | 40 | €15,466 | €75,796 | +€60,330 | +390% |
| Other amounts receivable | 41 | €288 | €4 | -€284 | -98.7% |
| Cash at bank and in hand | 54/58 | €175,310 | €130,162 | -€45,149 | -25.8% |
| Deferred charges and accrued income | 490/1 | €2,235 | €2,182 | -€52 | -2.3% |
| Total equity and liabilities | 10/49 | €212,405 | €224,445 | +€12,041 | +5.7% |
| Equity | 10/15 | €10,298 | €10,005 | -€293 | -2.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €298 | €5 | -€293 | -98.4% |
| Amounts payable | 17/49 | €202,107 | €214,441 | +€12,333 | +6.1% |
| Amounts payable after more than one year | 17 | - | €78,441 | +€78,441 | |
| Financial debts | 170/4 | - | €78,441 | +€78,441 | |
| Amounts payable within one year | 42/48 | €202,107 | €136,000 | -€66,107 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | - | €26,167 | +€26,167 | |
| Trade debts | 44 | €3,137 | €3,190 | +€53 | +1.7% |
| Suppliers | 440/4 | €3,137 | €3,190 | +€53 | +1.7% |
| Taxes, remuneration and social security | 45 | €31,650 | €23,771 | -€7,879 | -24.9% |
| Taxes | 450/3 | €31,650 | €23,771 | -€7,879 | -24.9% |
| Other amounts payable | 47/48 | €167,320 | €82,872 | -€84,448 | -50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,530 | €2,804 | +€274 | +10.8% |
| Other operating charges | 640/8 | €3,432 | €1,216 | -€2,216 | -64.6% |
| Gross operating margin | 9900 | €60,895 | €103,482 | +€42,586 | +69.9% |
| Operating profit (loss) | 9901 | €54,933 | €99,462 | +€44,528 | +81.1% |
| Financial income | 75/76B | €0 | €491 | +€491 | +272,622% |
| Recurring financial income | 75 | €0 | €491 | +€491 | +272,622% |
| Financial charges | 65/66B | €135 | €4,100 | +€3,965 | +2,937% |
| Recurring financial charges | 65 | €135 | €4,100 | +€3,965 | +2,937% |
| Profit (loss) for the period before taxes | 9903 | €54,798 | €95,852 | +€41,054 | +74.9% |
| Income taxes | 67/77 | €12,721 | €20,145 | +€7,425 | +58.4% |
| Profit (loss) for the period | 9904 | €42,078 | €75,707 | +€33,630 | +79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,078 | €75,707 | +€33,630 | +79.9% |
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 24 October 2026 via checked.be.