Azimut: 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.
Azimut
Largest movements
- Cash -€8,341
down €8,341 (-4.1%), from €203,475 to €195,134
mainly Provisions (-€29,000) and Contributions, distributions and other (-€752)
- Receivables within one year -€2,144
down €2,144 (-48.5%), from €4,420 to €2,276
of which Other amounts receivable: -€2,357
- Provisions -€29,000
down €29,000 (-49.8%), from €58,267 to €29,267
- Profit (loss) carried forward +€15,012
up €15,012 (+10.5%), from €143,185 to €158,197
- Tax, wage and social debts +€2,612
up €2,612 (+171%), from €1,531 to €4,144
- Staff costs -€25,667
no longer reported in 2025 (was €25,667)
- Gross operating margin -€12,115
down €12,115, from €3,255 to -€8,861
- Taxes +€2,055
up €2,055 (+131%), from €1,565 to €3,620
- Other operating charges -€1,974
down €1,974 (-74.9%), from €2,636 to €662
- Financial income -€1,451
down €1,451 (-89.8%), from €1,617 to €165
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 | €214,207 | €204,255 | -€9,952 | -4.6% |
| Fixed assets | 21/28 | €3,763 | €4,313 | +€551 | +14.6% |
| Intangible fixed assets | 21 | - | €551 | +€551 | |
| Financial fixed assets | 28 | €3,763 | €3,763 | = | 0.0% |
| Current assets | 29/58 | €210,444 | €199,942 | -€10,503 | -5.0% |
| Amounts receivable after more than one year | 29 | €2,295 | €2,295 | = | 0.0% |
| Other amounts receivable | 291 | €2,295 | €2,295 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,420 | €2,276 | -€2,144 | -48.5% |
| Trade receivables | 40 | €2,063 | €2,276 | +€214 | +10.4% |
| Other amounts receivable | 41 | €2,357 | - | -€2,357 | |
| Cash at bank and in hand | 54/58 | €203,475 | €195,134 | -€8,341 | -4.1% |
| Deferred charges and accrued income | 490/1 | €254 | €236 | -€18 | -7.1% |
| Total equity and liabilities | 10/49 | €214,207 | €204,255 | -€9,952 | -4.6% |
| Equity | 10/15 | €153,807 | €168,819 | +€15,012 | +9.8% |
| Contributions | 10/11 | €9,250 | €9,250 | = | 0.0% |
| Reserves | 13 | €1,373 | €1,373 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,373 | €1,373 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,373 | €1,373 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,185 | €158,197 | +€15,012 | +10.5% |
| Provisions and deferred taxes | 16 | €58,267 | €29,267 | -€29,000 | -49.8% |
| Provisions for liabilities and charges | 160/5 | €58,267 | €29,267 | -€29,000 | -49.8% |
| Environmental obligations | 163 | €58,267 | €29,267 | -€29,000 | -49.8% |
| Amounts payable | 17/49 | €2,134 | €6,169 | +€4,035 | +189% |
| Amounts payable within one year | 42/48 | €2,134 | €4,800 | +€2,667 | +125% |
| Trade debts | 44 | €602 | €657 | +€55 | +9.1% |
| Suppliers | 440/4 | €602 | €657 | +€55 | +9.1% |
| Taxes, remuneration and social security | 45 | €1,531 | €4,144 | +€2,612 | +171% |
| Taxes | 450/3 | €1,531 | €4,144 | +€2,612 | +171% |
| Accrued charges and deferred income | 492/3 | - | €1,369 | +€1,369 | |
| Remuneration, social security and pensions | 62 | €25,667 | - | -€25,667 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,071 | -€29,000 | +€71 | +0.2% |
| Other operating charges | 640/8 | €2,636 | €662 | -€1,974 | -74.9% |
| Gross operating margin | 9900 | €3,255 | -€8,861 | -€12,115 | |
| Operating profit (loss) | 9901 | €4,022 | €19,477 | +€15,455 | +384% |
| Financial income | 75/76B | €1,617 | €165 | -€1,451 | -89.8% |
| Recurring financial income | 75 | €1,617 | €165 | -€1,451 | -89.8% |
| Financial charges | 65/66B | €220 | €259 | +€39 | +17.8% |
| Recurring financial charges | 65 | €220 | €259 | +€39 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €5,419 | €19,384 | +€13,965 | +258% |
| Income taxes | 67/77 | €1,565 | €3,620 | +€2,055 | +131% |
| Profit (loss) for the period | 9904 | €3,854 | €15,764 | +€11,910 | +309% |
| Profit (loss) for the period to be appropriated | 9905 | €3,854 | €15,764 | +€11,910 | +309% |
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 20 October 2026 via checked.be.