AZIMUT TELECOM: 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 TELECOM
Largest movements
- Cash +€148,002
up €148,002 (+39.1%), from €378,656 to €526,658
mainly Net result for the year (+€321,913) and Debts after one year (+€47,274)
- Receivables within one year +€121,903
up €121,903 (+18.7%), from €652,187 to €774,090
of which Other amounts receivable: +€141,089
- Tangible fixed assets +€76,496
up €76,496 (+104%), from €73,801 to €150,296
of which Furniture and vehicles: +€79,566
- Receivables after one year +€21,200
up €21,200, from €0 to €21,200
of which Other amounts receivable: +€21,200
- Profit (loss) carried forward +€738,645
up €738,645, from -€737,625 to €1,020
- Reserves -€416,732
down €416,732 (-80.0%), from €520,732 to €104,000
of which Tax-exempt reserves: -€520,732
- Debts after one year +€47,274
up €47,274 (+7,062%), from €669 to €47,944
of which Financial debts: +€47,274
- Trade debts -€21,625
down €21,625 (-18.9%), from €114,270 to €92,645
- Tax, wage and social debts +€17,045
up €17,045 (+33.3%), from €51,244 to €68,289
of which Remuneration and social security: +€9,153
- Gross operating margin -€840,834
down €840,834 (-55.7%), from €1.5m to €669,975
- Financial income +€366,768
up €366,768 (+1,365%), from €26,861 to €393,629
of which Non-recurring financial income: +€375,543
- Financial charges +€360,142
up €360,142 (+1,803%), from €19,974 to €380,116
of which Non-recurring financial charges: +€376,751
- Write-downs -€145,882
down €145,882, from €106,206 to -€39,676
- Staff costs +€35,292
up €35,292 (+11.5%), from €306,669 to €341,961
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 | €1,153,473 | €1,512,914 | +€359,440 | +31.2% |
| Fixed assets | 21/28 | €77,995 | €154,490 | +€76,496 | +98.1% |
| Tangible fixed assets | 22/27 | €73,801 | €150,296 | +€76,496 | +104% |
| Land and buildings | 22 | €1,000 | €1,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,027 | €4,957 | -€3,070 | -38.3% |
| Furniture and vehicles | 24 | €64,774 | €144,340 | +€79,566 | +123% |
| Financial fixed assets | 28 | €4,194 | €4,194 | = | 0.0% |
| Current assets | 29/58 | €1,075,478 | €1,358,423 | +€282,945 | +26.3% |
| Amounts receivable after more than one year | 29 | €0 | €21,200 | +€21,200 | |
| Trade receivables | 290 | €0 | €0 | = | |
| Other amounts receivable | 291 | - | €21,200 | +€21,200 | |
| Stocks and contracts in progress | 3 | €43,626 | €32,672 | -€10,954 | -25.1% |
| Stocks | 30/36 | €43,626 | €32,672 | -€10,954 | -25.1% |
| Amounts receivable within one year | 40/41 | €652,187 | €774,090 | +€121,903 | +18.7% |
| Trade receivables | 40 | €390,189 | €371,003 | -€19,186 | -4.9% |
| Other amounts receivable | 41 | €261,998 | €403,088 | +€141,089 | +53.9% |
| Cash at bank and in hand | 54/58 | €378,656 | €526,658 | +€148,002 | +39.1% |
| Deferred charges and accrued income | 490/1 | €1,009 | €3,802 | +€2,794 | +277% |
| Total equity and liabilities | 10/49 | €1,153,473 | €1,512,914 | +€359,440 | +31.2% |
| Equity | 10/15 | €970,307 | €1,292,220 | +€321,913 | +33.2% |
| Contributions | 10/11 | €1,187,200 | €1,187,200 | = | 0.0% |
| Reserves | 13 | €520,732 | €104,000 | -€416,732 | -80.0% |
| Tax-exempt reserves | 132 | €520,732 | €0 | -€520,732 | -100% |
| Distributable reserves | 133 | - | €104,000 | +€104,000 | |
| Profit (loss) carried forward | 14 | -€737,625 | €1,020 | +€738,645 | |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €183,166 | €220,693 | +€37,527 | +20.5% |
| Amounts payable after more than one year | 17 | €669 | €47,944 | +€47,274 | +7,062% |
| Financial debts | 170/4 | €669 | €47,944 | +€47,274 | +7,062% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €182,497 | €172,750 | -€9,747 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €7,919 | €11,816 | +€3,897 | +49.2% |
| Financial debts | 43 | €388 | €0 | -€388 | -100% |
| Credit institutions | 430/8 | €388 | €0 | -€388 | -100% |
| Trade debts | 44 | €114,270 | €92,645 | -€21,625 | -18.9% |
| Suppliers | 440/4 | €114,270 | €92,645 | -€21,625 | -18.9% |
| Taxes, remuneration and social security | 45 | €51,244 | €68,289 | +€17,045 | +33.3% |
| Taxes | 450/3 | €19,534 | €27,426 | +€7,892 | +40.4% |
| Remuneration and social security | 454/9 | €31,709 | €40,862 | +€9,153 | +28.9% |
| Other amounts payable | 47/48 | €8,676 | €0 | -€8,676 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €918,892 | - | -€918,892 | |
| Remuneration, social security and pensions | 62 | €306,669 | €341,961 | +€35,292 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,716 | €38,129 | +€6,413 | +20.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €106,206 | -€39,676 | -€145,882 | |
| Other operating charges | 640/8 | €18,210 | €8,030 | -€10,180 | -55.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,510,809 | €669,975 | -€840,834 | -55.7% |
| Operating profit (loss) | 9901 | €1,048,007 | €321,531 | -€726,477 | -69.3% |
| Financial income | 75/76B | €26,861 | €393,629 | +€366,768 | +1,365% |
| Recurring financial income | 75 | €26,861 | €18,086 | -€8,775 | -32.7% |
| Non-recurring financial income | 76B | - | €375,543 | +€375,543 | |
| Financial charges | 65/66B | €19,974 | €380,116 | +€360,142 | +1,803% |
| Recurring financial charges | 65 | €19,974 | €3,365 | -€16,609 | -83.2% |
| Non-recurring financial charges | 66B | - | €376,751 | +€376,751 | |
| Profit (loss) for the period before taxes | 9903 | €1,054,894 | €335,043 | -€719,851 | -68.2% |
| Income taxes | 67/77 | €9,581 | €13,130 | +€3,548 | +37.0% |
| Profit (loss) for the period | 9904 | €1,045,312 | €321,913 | -€723,399 | -69.2% |
| Transfer from tax-exempt reserves | 789 | - | €520,732 | +€520,732 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,045,312 | €842,645 | -€202,667 | -19.4% |
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 28 October 2026 via checked.be.