AZIMUT ON: 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 ON
Largest movements
- Receivables within one year -€8,852
down €8,852 (-66.4%), from €13,326 to €4,474
of which Trade receivables: -€10,778
- Cash -€1,686
down €1,686 (-52.4%), from €3,218 to €1,532
mainly Other debts (-€10,644) and Tax, wage and social debts (-€7,622)
- Tangible fixed assets -€853
down €853 (-46.0%), from €1,853 to €1,001
- Deferred charges and accrued income +€548
up €548 (+106%), from €520 to €1,068
- Other debts -€10,644
down €10,644 (-3.0%), from €358,884 to €348,240
- Tax, wage and social debts -€7,622
no longer reported in 2025 (was €7,622)
- Profit (loss) carried forward +€5,722
up €5,722 (+1.6%), from -€358,001 to -€352,280
- Trade debts +€1,702
up €1,702 (+38.5%), from €4,422 to €6,125
- Gross operating margin +€3,599
up €3,599 (+82.2%), from €4,377 to €7,976
- Other operating charges +€587
up €587 (+102%), from €574 to €1,161
- Financial charges -€315
down €315 (-56.6%), from €556 to €241
- Depreciation +€216
up €216 (+34.0%), from €636 to €853
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 | €19,177 | €8,335 | -€10,842 | -56.5% |
| Fixed assets | 21/28 | €2,113 | €1,261 | -€853 | -40.3% |
| Tangible fixed assets | 22/27 | €1,853 | €1,001 | -€853 | -46.0% |
| Furniture and vehicles | 24 | €1,853 | €1,001 | -€853 | -46.0% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €17,064 | €7,074 | -€9,989 | -58.5% |
| Amounts receivable within one year | 40/41 | €13,326 | €4,474 | -€8,852 | -66.4% |
| Trade receivables | 40 | €13,249 | €2,472 | -€10,778 | -81.3% |
| Other amounts receivable | 41 | €76 | €2,002 | +€1,926 | +2,523% |
| Cash at bank and in hand | 54/58 | €3,218 | €1,532 | -€1,686 | -52.4% |
| Deferred charges and accrued income | 490/1 | €520 | €1,068 | +€548 | +106% |
| Total equity and liabilities | 10/49 | €19,177 | €8,335 | -€10,842 | -56.5% |
| Equity | 10/15 | -€351,751 | -€346,030 | +€5,722 | +1.6% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Contributions outside capital | 11 | €6,250 | €6,250 | = | 0.0% |
| Share premium | 1100/10 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €4,250 | €4,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,001 | -€352,280 | +€5,722 | +1.6% |
| Amounts payable | 17/49 | €370,928 | €354,365 | -€16,563 | -4.5% |
| Amounts payable within one year | 42/48 | €370,928 | €354,365 | -€16,563 | -4.5% |
| Trade debts | 44 | €4,422 | €6,125 | +€1,702 | +38.5% |
| Suppliers | 440/4 | €4,422 | €6,125 | +€1,702 | +38.5% |
| Taxes, remuneration and social security | 45 | €7,622 | - | -€7,622 | |
| Taxes | 450/3 | €7,622 | - | -€7,622 | |
| Other amounts payable | 47/48 | €358,884 | €348,240 | -€10,644 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €853 | +€216 | +34.0% |
| Other operating charges | 640/8 | €574 | €1,161 | +€587 | +102% |
| Gross operating margin | 9900 | €4,377 | €7,976 | +€3,599 | +82.2% |
| Operating profit (loss) | 9901 | €3,167 | €5,963 | +€2,796 | +88.3% |
| Financial income | 75/76B | €37 | - | -€37 | |
| Recurring financial income | 75 | €37 | - | -€37 | |
| Financial charges | 65/66B | €556 | €241 | -€315 | -56.6% |
| Recurring financial charges | 65 | €556 | €241 | -€315 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €2,648 | €5,722 | +€3,073 | +116% |
| Profit (loss) for the period | 9904 | €2,648 | €5,722 | +€3,073 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €2,648 | €5,722 | +€3,073 | +116% |
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 22 October 2026 via checked.be.