AZOTH: what changed
Two fiscal 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.
AZOTH
Largest movements
- Tangible fixed assets -€8,875
down €8,875 (-5.5%), from €160,720 to €151,845
of which Land and buildings: -€14,019
- Cash -€7,281
down €7,281 (-41.4%), from €17,586 to €10,305
mainly Debts after one year (-€10,438) and Trade debts (-€4,239)
- Debts after one year -€10,438
down €10,438 (-11.1%), from €94,363 to €83,924
- Trade debts -€4,239
down €4,239 (-65.6%), from €6,465 to €2,225
- Profit (loss) carried forward +€4,037
up €4,037 (+526.1%), from €767 to €4,804
- Other debts -€2,406
down €2,406 (-36.6%), from €6,579 to €4,174
- Gross operating margin -€22,761
down €22,761 (-48.8%), from €46,648 to €23,887
- Taxes -€5,212
down €5,212 (-66.6%), from €7,829 to €2,616
- Financial charges -€740
down €740 (-25.1%), from €2,949 to €2,209
- Other operating charges -€597
down €597 (-20.5%), from €2,910 to €2,312
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 | €187,955 | €174,004 | -€13,952 | -7.4% |
| Formation expenses | 20 | €162 | - | -€162 | |
| Fixed assets | 21/28 | €160,720 | €151,845 | -€8,875 | -5.5% |
| Tangible fixed assets | 22/27 | €160,720 | €151,845 | -€8,875 | -5.5% |
| Land and buildings | 22 | €142,991 | €128,972 | -€14,019 | -9.8% |
| Plant, machinery and equipment | 23 | €1,004 | €899 | -€105 | -10.5% |
| Furniture and vehicles | 24 | €14,202 | €8,763 | -€5,440 | -38.3% |
| Other tangible fixed assets | 26 | €2,522 | €13,211 | +€10,689 | +423.8% |
| Current assets | 29/58 | €27,073 | €22,159 | -€4,914 | -18.2% |
| Amounts receivable within one year | 40/41 | €7,493 | €8,882 | +€1,389 | +18.5% |
| Trade receivables | 40 | €3,337 | €898 | -€2,439 | -73.1% |
| Other amounts receivable | 41 | €4,155 | €7,984 | +€3,829 | +92.1% |
| Cash at bank and in hand | 54/58 | €17,586 | €10,305 | -€7,281 | -41.4% |
| Deferred charges and accrued income | 490/1 | €1,995 | €2,973 | +€977 | +49.0% |
| Total equity and liabilities | 10/49 | €187,955 | €174,004 | -€13,952 | -7.4% |
| Equity | 10/15 | €68,767 | €72,852 | +€4,085 | +5.9% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €56,000 | €56,048 | +€48 | +0.1% |
| Tax-exempt reserves | 132 | - | €48 | +€48 | |
| Distributable reserves | 133 | €56,000 | €56,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €767 | €4,804 | +€4,037 | +526.1% |
| Amounts payable | 17/49 | €119,188 | €101,151 | -€18,037 | -15.1% |
| Amounts payable after more than one year | 17 | €94,363 | €83,924 | -€10,438 | -11.1% |
| Financial debts | 170/4 | €94,363 | €83,924 | -€10,438 | -11.1% |
| Amounts payable within one year | 42/48 | €23,907 | €16,837 | -€7,070 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €10,863 | €10,438 | -€425 | -3.9% |
| Trade debts | 44 | €6,465 | €2,225 | -€4,239 | -65.6% |
| Suppliers | 440/4 | €6,465 | €2,225 | -€4,239 | -65.6% |
| Other amounts payable | 47/48 | €6,579 | €4,174 | -€2,406 | -36.6% |
| Accrued charges and deferred income | 492/3 | €918 | €390 | -€528 | -57.5% |
| Remuneration, social security and pensions | 62 | €137 | - | -€137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,432 | €12,692 | +€261 | +2.1% |
| Other operating charges | 640/8 | €2,910 | €2,312 | -€597 | -20.5% |
| Non-recurring operating charges | 66A | €186 | - | -€186 | |
| Gross operating margin | 9900 | €46,648 | €23,887 | -€22,761 | -48.8% |
| Operating profit (loss) | 9901 | €30,983 | €8,882 | -€22,102 | -71.3% |
| Financial income | 75/76B | €55 | €29 | -€26 | -48.0% |
| Recurring financial income | 75 | €55 | €29 | -€26 | -48.0% |
| Financial charges | 65/66B | €2,949 | €2,209 | -€740 | -25.1% |
| Recurring financial charges | 65 | €2,949 | €2,209 | -€740 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €28,090 | €6,701 | -€21,388 | -76.1% |
| Income taxes | 67/77 | €7,829 | €2,616 | -€5,212 | -66.6% |
| Profit (loss) for the period | 9904 | €20,261 | €4,085 | -€16,176 | -79.8% |
| Transfer to tax-exempt reserves | 689 | - | €48 | +€48 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,261 | €4,037 | -€16,224 | -80.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.