AZIZ: 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.
AZIZ
Largest movements
- Stocks and contracts -€85,793
down €85,793 (-38.7%), from €221,686 to €135,894
- Cash +€66,193
up €66,193 (+83.5%), from €79,278 to €145,471
mainly Stocks and contracts (+€85,793) and Other debts (+€12,540)
- Deferred charges and accrued income -€3,762
down €3,762 (-59.0%), from €6,382 to €2,620
- Reserves -€18,992
down €18,992 (-12.4%), from €153,098 to €134,106
of which Distributable reserves: -€18,992
- Trade debts -€17,480
down €17,480 (-52.3%), from €33,439 to €15,959
- Other debts +€12,540
up €12,540 (+12.8%), from €98,267 to €110,807
- Gross operating margin -€37,517
down €37,517 (-68.9%), from €54,422 to €16,905
- Other operating charges -€9,715
down €9,715 (-75.1%), from €12,938 to €3,223
- Staff costs -€7,789
down €7,789 (-19.7%), from €39,627 to €31,838
- Taxes -€655
down €655 (-79.0%), from €829 to €174
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 | €311,769 | €285,986 | -€25,783 | -8.3% |
| Fixed assets | 21/28 | €2,204 | €1,750 | -€455 | -20.6% |
| Tangible fixed assets | 22/27 | €2,204 | €1,750 | -€455 | -20.6% |
| Plant, machinery and equipment | 23 | €2,204 | €1,750 | -€455 | -20.6% |
| Current assets | 29/58 | €309,565 | €284,236 | -€25,329 | -8.2% |
| Stocks and contracts in progress | 3 | €221,686 | €135,894 | -€85,793 | -38.7% |
| Stocks | 30/36 | €221,686 | €135,894 | -€85,793 | -38.7% |
| Amounts receivable within one year | 40/41 | €2,219 | €252 | -€1,967 | -88.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,219 | €252 | -€1,967 | -88.6% |
| Cash at bank and in hand | 54/58 | €79,278 | €145,471 | +€66,193 | +83.5% |
| Deferred charges and accrued income | 490/1 | €6,382 | €2,620 | -€3,762 | -59.0% |
| Total equity and liabilities | 10/49 | €311,769 | €285,986 | -€25,783 | -8.3% |
| Equity | 10/15 | €171,698 | €152,706 | -€18,992 | -11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,098 | €134,106 | -€18,992 | -12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €151,238 | €132,246 | -€18,992 | -12.6% |
| Amounts payable | 17/49 | €140,072 | €133,280 | -€6,791 | -4.8% |
| Amounts payable within one year | 42/48 | €140,072 | €133,280 | -€6,791 | -4.8% |
| Trade debts | 44 | €33,439 | €15,959 | -€17,480 | -52.3% |
| Suppliers | 440/4 | €33,439 | €15,959 | -€17,480 | -52.3% |
| Advances received on contracts in progress | 46 | €500 | €500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €7,866 | €6,015 | -€1,851 | -23.5% |
| Taxes | 450/3 | €1,048 | €2,641 | +€1,593 | +152% |
| Remuneration and social security | 454/9 | €6,817 | €3,373 | -€3,444 | -50.5% |
| Other amounts payable | 47/48 | €98,267 | €110,807 | +€12,540 | +12.8% |
| Remuneration, social security and pensions | 62 | €39,627 | €31,838 | -€7,789 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68 | €455 | +€386 | +564% |
| Other operating charges | 640/8 | €12,938 | €3,223 | -€9,715 | -75.1% |
| Gross operating margin | 9900 | €54,422 | €16,905 | -€37,517 | -68.9% |
| Operating profit (loss) | 9901 | €1,788 | -€18,610 | -€20,398 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +2,360% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2,360% |
| Financial charges | 65/66B | €349 | €209 | -€140 | -40.1% |
| Recurring financial charges | 65 | €349 | €209 | -€140 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €1,440 | -€18,818 | -€20,257 | |
| Income taxes | 67/77 | €829 | €174 | -€655 | -79.0% |
| Profit (loss) for the period | 9904 | €611 | -€18,992 | -€19,603 | |
| Profit (loss) for the period to be appropriated | 9905 | €611 | -€18,992 | -€19,603 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.