AZGO: 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.
AZGO
Largest movements
- Tangible fixed assets +€223,284
up €223,284 (+275.1%), from €81,169 to €304,453
of which Plant, machinery and equipment: +€170,506
- Receivables within one year +€196,891
up €196,891 (+420.5%), from €46,823 to €243,714
of which Trade receivables: +€152,416
- Trade debts +€158,471
up €158,471 (+310.2%), from €51,092 to €209,563
- Debts after one year +€148,187
up €148,187 (+345.4%), from €42,899 to €191,086
of which Financial debts: +€148,187
- Tax, wage and social debts +€86,354
up €86,354 (+1025.3%), from €8,422 to €94,777
of which Taxes: +€43,792
- Profit (loss) carried forward +€76,095
up €76,095 (+282.4%), from €26,950 to €103,046
- Other debts -€60,937
no longer reported in 2024 (was €60,937)
- Gross operating margin +€219,844
up €219,844 (+154.1%), from €142,682 to €362,526
- Staff costs +€125,756
up €125,756 (+126.2%), from €99,633 to €225,389
- Depreciation +€18,504
up €18,504 (+126.1%), from €14,678 to €33,182
- Taxes +€17,696
up €17,696 (+363.6%), from €4,867 to €22,563
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €211,924 | €632,161 | +€420,237 | +198.3% |
| Fixed assets | 21/28 | €83,869 | €307,153 | +€223,284 | +266.2% |
| Tangible fixed assets | 22/27 | €81,169 | €304,453 | +€223,284 | +275.1% |
| Plant, machinery and equipment | 23 | €49,803 | €220,309 | +€170,506 | +342.4% |
| Furniture and vehicles | 24 | €29,514 | €83,736 | +€54,222 | +183.7% |
| Other tangible fixed assets | 26 | €1,853 | €408 | -€1,445 | -78.0% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €128,055 | €325,008 | +€196,953 | +153.8% |
| Amounts receivable within one year | 40/41 | €46,823 | €243,714 | +€196,891 | +420.5% |
| Trade receivables | 40 | €46,175 | €198,591 | +€152,416 | +330.1% |
| Other amounts receivable | 41 | €648 | €45,123 | +€44,475 | +6864.7% |
| Cash at bank and in hand | 54/58 | €79,671 | €80,063 | +€392 | +0.5% |
| Deferred charges and accrued income | 490/1 | €1,561 | €1,231 | -€330 | -21.1% |
| Total equity and liabilities | 10/49 | €211,924 | €632,161 | +€420,237 | +198.3% |
| Equity | 10/15 | €45,550 | €121,646 | +€76,095 | +167.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,950 | €103,046 | +€76,095 | +282.4% |
| Amounts payable | 17/49 | €166,373 | €510,515 | +€344,142 | +206.8% |
| Amounts payable after more than one year | 17 | €42,899 | €191,086 | +€148,187 | +345.4% |
| Financial debts | 170/4 | €22,899 | €171,086 | +€148,187 | +647.1% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €123,474 | €319,429 | +€195,955 | +158.7% |
| Current portion of amounts payable after more than one year | 42 | €3,023 | €15,089 | +€12,066 | +399.2% |
| Trade debts | 44 | €51,092 | €209,563 | +€158,471 | +310.2% |
| Suppliers | 440/4 | €51,092 | €209,563 | +€158,471 | +310.2% |
| Taxes, remuneration and social security | 45 | €8,422 | €94,777 | +€86,354 | +1025.3% |
| Taxes | 450/3 | €6,608 | €50,399 | +€43,792 | +662.7% |
| Remuneration and social security | 454/9 | €1,815 | €44,378 | +€42,563 | +2345.5% |
| Other amounts payable | 47/48 | €60,937 | - | -€60,937 | |
| Remuneration, social security and pensions | 62 | €99,633 | €225,389 | +€125,756 | +126.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,678 | €33,182 | +€18,504 | +126.1% |
| Other operating charges | 640/8 | €1,783 | €1,863 | +€80 | +4.5% |
| Gross operating margin | 9900 | €142,682 | €362,526 | +€219,844 | +154.1% |
| Operating profit (loss) | 9901 | €26,588 | €102,092 | +€75,504 | +284.0% |
| Financial charges | 65/66B | €2,006 | €3,434 | +€1,427 | +71.1% |
| Recurring financial charges | 65 | €2,006 | €3,434 | +€1,427 | +71.1% |
| Profit (loss) for the period before taxes | 9903 | €24,581 | €98,658 | +€74,077 | +301.4% |
| Income taxes | 67/77 | €4,867 | €22,563 | +€17,696 | +363.6% |
| Profit (loss) for the period | 9904 | €19,714 | €76,095 | +€56,381 | +286.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,714 | €76,095 | +€56,381 | +286.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.