Azenn: 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.
Azenn
Largest movements
- Current investments -€80,952
down €80,952 (-32.2%), from €251,164 to €170,212
- Receivables within one year +€14,479
up €14,479 (+35.4%), from €40,949 to €55,428
of which Other amounts receivable: +€19,649
- Tangible fixed assets -€7,204
down €7,204 (-38.6%), from €18,642 to €11,438
- Cash -€6,388
down €6,388 (-10.5%), from €60,921 to €54,534
mainly Contributions, distributions and other (-€268,351) and Other debts (-€73,980)
- Other debts -€73,980
down €73,980 (-21.6%), from €342,749 to €268,769
- Trade debts -€4,845
down €4,845 (-87.8%), from €5,520 to €674
- Gross operating margin -€108,549
down €108,549 (-24.6%), from €440,450 to €331,901
- Taxes -€31,785
down €31,785 (-28.8%), from €110,278 to €78,493
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 | €371,677 | €292,383 | -€79,293 | -21.3% |
| Fixed assets | 21/28 | €18,642 | €11,438 | -€7,204 | -38.6% |
| Tangible fixed assets | 22/27 | €18,642 | €11,438 | -€7,204 | -38.6% |
| Furniture and vehicles | 24 | €18,642 | €11,438 | -€7,204 | -38.6% |
| Current assets | 29/58 | €353,035 | €280,945 | -€72,090 | -20.4% |
| Amounts receivable within one year | 40/41 | €40,949 | €55,428 | +€14,479 | +35.4% |
| Trade receivables | 40 | €38,011 | €32,841 | -€5,170 | -13.6% |
| Other amounts receivable | 41 | €2,938 | €22,587 | +€19,649 | +668.7% |
| Current investments | 50/53 | €251,164 | €170,212 | -€80,952 | -32.2% |
| Cash at bank and in hand | 54/58 | €60,921 | €54,534 | -€6,388 | -10.5% |
| Deferred charges and accrued income | 490/1 | - | €771 | +€771 | |
| Total equity and liabilities | 10/49 | €371,677 | €292,383 | -€79,293 | -21.3% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €370,677 | €291,383 | -€79,293 | -21.4% |
| Amounts payable within one year | 42/48 | €370,677 | €291,383 | -€79,293 | -21.4% |
| Trade debts | 44 | €5,520 | €674 | -€4,845 | -87.8% |
| Suppliers | 440/4 | €5,520 | €674 | -€4,845 | -87.8% |
| Taxes, remuneration and social security | 45 | €22,408 | €21,940 | -€468 | -2.1% |
| Taxes | 450/3 | €22,408 | €21,940 | -€468 | -2.1% |
| Other amounts payable | 47/48 | €342,749 | €268,769 | -€73,980 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,175 | €7,204 | +€29 | +0.4% |
| Other operating charges | 640/8 | €1,786 | €1,838 | +€52 | +2.9% |
| Gross operating margin | 9900 | €440,450 | €331,901 | -€108,549 | -24.6% |
| Operating profit (loss) | 9901 | €431,489 | €322,860 | -€108,629 | -25.2% |
| Financial income | 75/76B | €20,035 | €24,128 | +€4,093 | +20.4% |
| Recurring financial income | 75 | €20,035 | €24,128 | +€4,093 | +20.4% |
| Financial charges | 65/66B | €119 | €144 | +€25 | +21.2% |
| Recurring financial charges | 65 | €119 | €144 | +€25 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €451,406 | €346,845 | -€104,561 | -23.2% |
| Income taxes | 67/77 | €110,278 | €78,493 | -€31,785 | -28.8% |
| Profit (loss) for the period | 9904 | €341,127 | €268,351 | -€72,776 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €341,127 | €268,351 | -€72,776 | -21.3% |
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 1 October 2026 via checked.be.