AZIMA: 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.
AZIMA
Largest movements
- Receivables after one year -€36,027
down €36,027 (-100%), from €36,027 to €0
- Receivables within one year +€29,137
up €29,137, from €0 to €29,137
- Tangible fixed assets -€21,826
down €21,826 (-19.0%), from €115,080 to €93,254
of which Land and buildings: -€20,146
- Current investments -€7,417
down €7,417 (-10.9%), from €68,037 to €60,620
- Reserves -€26,578
down €26,578 (-28.0%), from €95,032 to €68,454
of which Distributable reserves: -€26,578
- Debts after one year -€18,450
down €18,450 (-19.9%), from €92,588 to €74,138
- Short-term financial debts +€7,000
new in 2025: €7,000
- Trade debts -€2,490
down €2,490 (-29.9%), from €8,319 to €5,829
- Accrued charges and deferred income +€2,369
up €2,369 (+31.3%), from €7,559 to €9,928
- Gross operating margin -€17,841
down €17,841 (-27.0%), from €66,075 to €48,234
- Taxes -€5,173
down €5,173 (-37.4%), from €13,830 to €8,657
- Financial income +€2,245
up €2,245 (+50.3%), from €4,462 to €6,707
- Financial charges +€2,220
up €2,220 (+45.5%), from €4,884 to €7,104
- Other operating charges -€661
down €661 (-30.0%), from €2,206 to €1,545
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 | €234,046 | €196,790 | -€37,257 | -15.9% |
| Fixed assets | 21/28 | €115,080 | €93,254 | -€21,826 | -19.0% |
| Tangible fixed assets | 22/27 | €115,080 | €93,254 | -€21,826 | -19.0% |
| Land and buildings | 22 | €100,616 | €80,470 | -€20,146 | -20.0% |
| Plant, machinery and equipment | 23 | €277 | €2,721 | +€2,443 | +881% |
| Furniture and vehicles | 24 | €14,186 | €10,063 | -€4,123 | -29.1% |
| Current assets | 29/58 | €118,967 | €103,536 | -€15,431 | -13.0% |
| Amounts receivable after more than one year | 29 | €36,027 | €0 | -€36,027 | -100% |
| Other amounts receivable | 291 | €36,027 | €0 | -€36,027 | -100% |
| Amounts receivable within one year | 40/41 | €0 | €29,137 | +€29,137 | |
| Other amounts receivable | 41 | €0 | €29,137 | +€29,137 | |
| Current investments | 50/53 | €68,037 | €60,620 | -€7,417 | -10.9% |
| Cash at bank and in hand | 54/58 | €7,892 | €7,837 | -€55 | -0.7% |
| Deferred charges and accrued income | 490/1 | €7,010 | €5,941 | -€1,069 | -15.2% |
| Total equity and liabilities | 10/49 | €234,046 | €196,790 | -€37,257 | -15.9% |
| Equity | 10/15 | €101,232 | €74,654 | -€26,578 | -26.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €95,032 | €68,454 | -€26,578 | -28.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €93,172 | €66,594 | -€26,578 | -28.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €132,814 | €122,136 | -€10,679 | -8.0% |
| Amounts payable after more than one year | 17 | €92,588 | €74,138 | -€18,450 | -19.9% |
| Financial debts | 170/4 | €92,588 | €74,138 | -€18,450 | -19.9% |
| Amounts payable within one year | 42/48 | €32,667 | €38,070 | +€5,402 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €20,059 | €21,546 | +€1,487 | +7.4% |
| Financial debts | 43 | - | €7,000 | +€7,000 | |
| Credit institutions | 430/8 | - | €7,000 | +€7,000 | |
| Trade debts | 44 | €8,319 | €5,829 | -€2,490 | -29.9% |
| Suppliers | 440/4 | €8,319 | €5,829 | -€2,490 | -29.9% |
| Taxes, remuneration and social security | 45 | €4,289 | €3,695 | -€594 | -13.9% |
| Taxes | 450/3 | €4,289 | €3,695 | -€594 | -13.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €7,559 | €9,928 | +€2,369 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,936 | €24,729 | -€207 | -0.8% |
| Other operating charges | 640/8 | €2,206 | €1,545 | -€661 | -30.0% |
| Gross operating margin | 9900 | €66,075 | €48,234 | -€17,841 | -27.0% |
| Operating profit (loss) | 9901 | €38,933 | €21,960 | -€16,973 | -43.6% |
| Financial income | 75/76B | €4,462 | €6,707 | +€2,245 | +50.3% |
| Recurring financial income | 75 | €4,462 | €6,707 | +€2,245 | +50.3% |
| Financial charges | 65/66B | €4,884 | €7,104 | +€2,220 | +45.5% |
| Recurring financial charges | 65 | €4,884 | €7,104 | +€2,220 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €38,511 | €21,562 | -€16,948 | -44.0% |
| Income taxes | 67/77 | €13,830 | €8,657 | -€5,173 | -37.4% |
| Profit (loss) for the period | 9904 | €24,680 | €12,905 | -€11,775 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,680 | €12,905 | -€11,775 | -47.7% |
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 18 October 2026 via checked.be.