AZET: 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.
AZET
Largest movements
- Receivables after one year -€82,515
down €82,515 (-6.4%), from €1.3m to €1.2m
- Receivables within one year +€23,780
up €23,780 (+791%), from €3,005 to €26,785
- Tangible fixed assets -€20,753
down €20,753 (-8.3%), from €250,573 to €229,820
- Other debts -€63,134
down €63,134 (-37.0%), from €170,673 to €107,539
- Profit (loss) carried forward -€21,115
down €21,115, from €1,384 to -€19,731
- Gross operating margin +€9,064
up €9,064 (+92.9%), from -€9,753 to -€689
- Depreciation -€4,662
down €4,662 (-20.4%), from €22,821 to €18,159
- Taxes -€3,644
no longer reported in 2025 (was €3,644)
- Other operating charges +€631
up €631 (+23.4%), from €2,701 to €3,332
- Financial charges -€470
down €470 (-54.2%), from €868 to €398
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 | €1,544,265 | €1,463,793 | -€80,472 | -5.2% |
| Fixed assets | 21/28 | €250,573 | €229,820 | -€20,753 | -8.3% |
| Tangible fixed assets | 22/27 | €250,573 | €229,820 | -€20,753 | -8.3% |
| Land and buildings | 22 | €202,702 | €195,088 | -€7,614 | -3.8% |
| Plant, machinery and equipment | 23 | €43,355 | €33,656 | -€9,699 | -22.4% |
| Furniture and vehicles | 24 | €4,516 | €1,076 | -€3,440 | -76.2% |
| Current assets | 29/58 | €1,293,692 | €1,233,973 | -€59,719 | -4.6% |
| Amounts receivable after more than one year | 29 | €1,289,192 | €1,206,677 | -€82,515 | -6.4% |
| Other amounts receivable | 291 | €1,289,192 | €1,206,677 | -€82,515 | -6.4% |
| Amounts receivable within one year | 40/41 | €3,005 | €26,785 | +€23,780 | +791% |
| Other amounts receivable | 41 | €3,005 | €26,785 | +€23,780 | +791% |
| Cash at bank and in hand | 54/58 | €973 | €52 | -€921 | -94.7% |
| Deferred charges and accrued income | 490/1 | €521 | €459 | -€62 | -12.0% |
| Total equity and liabilities | 10/49 | €1,544,265 | €1,463,793 | -€80,472 | -5.2% |
| Equity | 10/15 | €992,005 | €970,890 | -€21,115 | -2.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €840,621 | €840,621 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €105 | €105 | = | 0.0% |
| Reserves not available under the articles | 1311 | €105 | €105 | = | 0.0% |
| Distributable reserves | 133 | €840,516 | €840,516 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €1,384 | -€19,731 | -€21,115 | |
| Amounts payable | 17/49 | €552,260 | €492,903 | -€59,357 | -10.7% |
| Amounts payable within one year | 42/48 | €552,260 | €492,883 | -€59,377 | -10.8% |
| Financial debts | 43 | - | €515 | +€515 | |
| Credit institutions | 430/8 | - | €515 | +€515 | |
| Trade debts | 44 | €6,153 | €9,395 | +€3,242 | +52.7% |
| Suppliers | 440/4 | €6,153 | €9,395 | +€3,242 | +52.7% |
| Taxes, remuneration and social security | 45 | €375,434 | €375,434 | +€0 | 0.0% |
| Taxes | 450/3 | €375,434 | €375,434 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €170,673 | €107,539 | -€63,134 | -37.0% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,821 | €18,159 | -€4,662 | -20.4% |
| Other operating charges | 640/8 | €2,701 | €3,332 | +€631 | +23.4% |
| Non-recurring operating charges | 66A | - | €36,304 | +€36,304 | |
| Gross operating margin | 9900 | -€9,753 | -€689 | +€9,064 | +92.9% |
| Operating profit (loss) | 9901 | -€35,275 | -€58,484 | -€23,209 | -65.8% |
| Financial income | 75/76B | €37,697 | €37,767 | +€70 | +0.2% |
| Recurring financial income | 75 | €37,697 | €35,406 | -€2,291 | -6.1% |
| Non-recurring financial income | 76B | - | €2,361 | +€2,361 | |
| Financial charges | 65/66B | €868 | €398 | -€470 | -54.2% |
| Recurring financial charges | 65 | €868 | €398 | -€470 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | €1,554 | -€21,115 | -€22,669 | |
| Income taxes | 67/77 | €3,644 | - | -€3,644 | |
| Profit (loss) for the period | 9904 | -€2,089 | -€21,115 | -€19,026 | -911% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,089 | -€21,115 | -€19,026 | -911% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.