AZIRI: 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.
AZIRI
Largest movements
- Receivables within one year +€192,791
up €192,791 (+121.4%), from €158,789 to €351,580
of which Trade receivables: +€194,558
- Current investments +€91,200
new in 2025: €91,200
- Cash -€13,309
down €13,309 (-5.2%), from €255,254 to €241,945
mainly Receivables within one year (-€192,791) and Trade debts (-€112,035)
- Reserves +€157,067
up €157,067 (+96.0%), from €163,639 to €320,706
of which Non-distributable reserves: +€91,200
- Trade debts -€112,035
down €112,035 (-69.8%), from €160,503 to €48,467
- Other debts +€94,941
up €94,941 (+6042.3%), from €1,571 to €96,513
- Tax, wage and social debts +€90,384
up €90,384 (+105.0%), from €86,100 to €176,484
of which Taxes: +€61,867
- Accrued charges and deferred income +€34,001
up €34,001 (+213.1%), from €15,954 to €49,955
- Gross operating margin +€469,415
up €469,415 (+86.7%), from €541,539 to €1.0m
- Staff costs +€331,833
up €331,833 (+77.7%), from €427,231 to €759,063
- Taxes +€32,677
up €32,677 (+97.9%), from €33,372 to €66,049
- Financial charges +€12,676
up €12,676 (+158.5%), from €8,000 to €20,676
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.
Cash bridge derived
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 | €447,768 | €712,125 | +€264,357 | +59.0% |
| Fixed assets | 21/28 | €9,665 | €7,423 | -€2,242 | -23.2% |
| Tangible fixed assets | 22/27 | €6,415 | €4,173 | -€2,242 | -34.9% |
| Furniture and vehicles | 24 | €6,415 | €4,173 | -€2,242 | -34.9% |
| Financial fixed assets | 28 | €3,250 | €3,250 | = | 0.0% |
| Current assets | 29/58 | €438,103 | €704,702 | +€266,599 | +60.9% |
| Amounts receivable within one year | 40/41 | €158,789 | €351,580 | +€192,791 | +121.4% |
| Trade receivables | 40 | €156,970 | €351,528 | +€194,558 | +123.9% |
| Other amounts receivable | 41 | €1,819 | €53 | -€1,767 | -97.1% |
| Current investments | 50/53 | - | €91,200 | +€91,200 | |
| Cash at bank and in hand | 54/58 | €255,254 | €241,945 | -€13,309 | -5.2% |
| Deferred charges and accrued income | 490/1 | €24,060 | €19,977 | -€4,083 | -17.0% |
| Total equity and liabilities | 10/49 | €447,768 | €712,125 | +€264,357 | +59.0% |
| Equity | 10/15 | €183,639 | €340,706 | +€157,067 | +85.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €163,639 | €320,706 | +€157,067 | +96.0% |
| Non-distributable reserves | 130/1 | - | €91,200 | +€91,200 | |
| Own shares acquired | 1312 | - | €91,200 | +€91,200 | |
| Distributable reserves | 133 | €163,639 | €229,506 | +€65,867 | +40.3% |
| Amounts payable | 17/49 | €264,128 | €371,419 | +€107,290 | +40.6% |
| Amounts payable within one year | 42/48 | €248,174 | €321,464 | +€73,290 | +29.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €160,503 | €48,467 | -€112,035 | -69.8% |
| Suppliers | 440/4 | €160,503 | €48,467 | -€112,035 | -69.8% |
| Taxes, remuneration and social security | 45 | €86,100 | €176,484 | +€90,384 | +105.0% |
| Taxes | 450/3 | €37,056 | €98,923 | +€61,867 | +167.0% |
| Remuneration and social security | 454/9 | €49,044 | €77,561 | +€28,517 | +58.1% |
| Other amounts payable | 47/48 | €1,571 | €96,513 | +€94,941 | +6042.3% |
| Accrued charges and deferred income | 492/3 | €15,954 | €49,955 | +€34,001 | +213.1% |
| Remuneration, social security and pensions | 62 | €427,231 | €759,063 | +€331,833 | +77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,921 | €4,389 | +€468 | +11.9% |
| Other operating charges | 640/8 | €1,005 | €4,414 | +€3,409 | +339.3% |
| Gross operating margin | 9900 | €541,539 | €1,010,954 | +€469,415 | +86.7% |
| Operating profit (loss) | 9901 | €109,383 | €243,088 | +€133,705 | +122.2% |
| Financial income | 75/76B | €464 | €704 | +€240 | +51.8% |
| Recurring financial income | 75 | €464 | €704 | +€240 | +51.8% |
| Financial charges | 65/66B | €8,000 | €20,676 | +€12,676 | +158.5% |
| Recurring financial charges | 65 | €8,000 | €20,676 | +€12,676 | +158.5% |
| Profit (loss) for the period before taxes | 9903 | €101,847 | €223,116 | +€121,269 | +119.1% |
| Income taxes | 67/77 | €33,372 | €66,049 | +€32,677 | +97.9% |
| Profit (loss) for the period | 9904 | €68,474 | €157,067 | +€88,592 | +129.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,474 | €157,067 | +€88,592 | +129.4% |
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 10 October 2026 via checked.be.