AZIMMO: what changed
What changed
AZIMMO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€147,029
2024 · €23,270+€123,759
Equity
€349,572
2024 · €202,543+€147,029
Cash
€42,001
2024 · €21,664+€20,337
Balance sheet total
€2.6m
2024 · €2.9m-€276,766
Largest movements
Assets
- Tangible fixed assets -€296,629
down €296,629 (-10.3%), from €2.9m to €2.6m
of which Land and buildings: -€295,707
Equity and liabilities
- Debts after one year -€248,662
down €248,662 (-10.8%), from €2.3m to €2.1m
of which Financial debts: -€195,010
- Other debts -€202,267
down €202,267 (-93.9%), from €215,317 to €13,050
- Reserves +€147,000
up €147,000 (+126%), from €116,769 to €263,769
of which Distributable reserves: +€147,000
- Tax, wage and social debts +€45,480
up €45,480 (+11,878%), from €383 to €45,863
Income statement
- Gross operating margin +€172,525
up €172,525 (+98.6%), from €175,048 to €347,573
- Taxes +€54,237
up €54,237 (+18,469%), from €294 to €54,531
- Depreciation -€6,409
down €6,409 (-5.9%), from €109,423 to €103,014
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,270
Gross operating margin
+€172,525
Depreciation
+€6,409
Other operating charges
-€2,258
Financial income
+€108
Financial charges
+€1,213
Taxes
-€54,237
Result 2025
€147,029
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€97,196
Investment
+€193,616
Financing
-€270,474
Cash 2024
€21,664
From operations (derived)
+€97,196
Net result for the year
+€147,029
Depreciation
+€103,014
Smaller working-capital items
+€472
Trade debts
+€3,467
Tax, wage and social debts
+€45,480
Other debts
-€202,267
Investment (derived)
+€193,616
Investment in fixed assets (net)
+€193,616
Financing
-€270,474
Debts after one year
-€248,662
Current portion of long-term debt
-€21,812
Cash 2025
€42,001
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,901,738 | €2,624,972 | -€276,766 | -9.5% |
| Fixed assets | 21/28 | €2,878,705 | €2,582,076 | -€296,629 | -10.3% |
| Tangible fixed assets | 22/27 | €2,878,680 | €2,582,051 | -€296,629 | -10.3% |
| Land and buildings | 22 | €2,873,063 | €2,577,356 | -€295,707 | -10.3% |
| Furniture and vehicles | 24 | €5,617 | €4,695 | -€922 | -16.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €23,032 | €42,896 | +€19,864 | +86.2% |
| Amounts receivable within one year | 40/41 | €500 | - | -€500 | |
| Trade receivables | 40 | €500 | - | -€500 | |
| Cash at bank and in hand | 54/58 | €21,664 | €42,001 | +€20,337 | +93.9% |
| Deferred charges and accrued income | 490/1 | €869 | €895 | +€27 | +3.1% |
| Total equity and liabilities | 10/49 | €2,901,738 | €2,624,972 | -€276,766 | -9.5% |
| Equity | 10/15 | €202,543 | €349,572 | +€147,029 | +72.6% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €116,769 | €263,769 | +€147,000 | +126% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,000 | €9,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,769 | €14,769 | = | 0.0% |
| Distributable reserves | 133 | €93,000 | €240,000 | +€147,000 | +158% |
| Profit (loss) carried forward | 14 | -€4,226 | -€4,197 | +€29 | +0.7% |
| Amounts payable | 17/49 | €2,699,195 | €2,275,400 | -€423,795 | -15.7% |
| Amounts payable after more than one year | 17 | €2,303,500 | €2,054,838 | -€248,662 | -10.8% |
| Financial debts | 170/4 | €703,500 | €508,490 | -€195,010 | -27.7% |
| Other amounts payable | 178/9 | €1,600,000 | €1,546,348 | -€53,652 | -3.4% |
| Amounts payable within one year | 42/48 | €376,051 | €200,919 | -€175,132 | -46.6% |
| Current portion of amounts payable after more than one year | 42 | €102,419 | €80,606 | -€21,812 | -21.3% |
| Trade debts | 44 | €57,932 | €61,399 | +€3,467 | +6.0% |
| Suppliers | 440/4 | €57,932 | €61,399 | +€3,467 | +6.0% |
| Taxes, remuneration and social security | 45 | €383 | €45,863 | +€45,480 | +11,878% |
| Taxes | 450/3 | €383 | €45,863 | +€45,480 | +11,878% |
| Other amounts payable | 47/48 | €215,317 | €13,050 | -€202,267 | -93.9% |
| Accrued charges and deferred income | 492/3 | €19,644 | €19,643 | -€1 | 0.0% |
| Non-recurring operating income | 76A | - | €186,384 | +€186,384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,423 | €103,014 | -€6,409 | -5.9% |
| Other operating charges | 640/8 | €20,398 | €22,657 | +€2,258 | +11.1% |
| Gross operating margin | 9900 | €175,048 | €347,573 | +€172,525 | +98.6% |
| Operating profit (loss) | 9901 | €45,227 | €221,902 | +€176,676 | +391% |
| Financial income | 75/76B | - | €108 | +€108 | |
| Recurring financial income | 75 | - | €108 | +€108 | |
| Financial charges | 65/66B | €21,663 | €20,450 | -€1,213 | -5.6% |
| Recurring financial charges | 65 | €21,663 | €20,450 | -€1,213 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €23,564 | €201,560 | +€177,996 | +755% |
| Income taxes | 67/77 | €294 | €54,531 | +€54,237 | +18,469% |
| Profit (loss) for the period | 9904 | €23,270 | €147,029 | +€123,759 | +532% |
| Profit (loss) for the period to be appropriated | 9905 | €23,270 | €147,029 | +€123,759 | +532% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.