AZRA 2019: 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.
AZRA 2019
Largest movements
- Tangible fixed assets +€24,058
up €24,058 (+138%), from €17,405 to €41,463
- Stocks and contracts +€5,684
up €5,684 (+7.6%), from €74,497 to €80,180
- Cash -€2,878
down €2,878 (-69.9%), from €4,121 to €1,242
mainly Investment in fixed assets (net) (-€33,000) and Short-term financial debts (-€6,122)
- Current portion of long-term debt +€14,094
new in 2025: €14,094
- Debts after one year +€11,246
up €11,246 (+140%), from €8,023 to €19,270
- Profit (loss) carried forward +€6,727
up €6,727 (+42.1%), from €15,988 to €22,714
- Short-term financial debts -€6,122
no longer reported in 2025 (was €6,122)
- Tax, wage and social debts +€3,512
up €3,512 (+51.3%), from €6,851 to €10,363
- Gross operating margin +€5,572
up €5,572 (+36.4%), from €15,315 to €20,887
- Depreciation +€4,542
up €4,542 (+100%), from €4,526 to €9,068
- Financial charges +€2,048
up €2,048 (+106%), from €1,940 to €3,988
- Financial income +€1,324
new in 2025: €1,324
- Other operating charges -€602
down €602 (-50.8%), from €1,184 to €582
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 | €162,817 | €190,347 | +€27,530 | +16.9% |
| Formation expenses | 20 | €849 | €723 | -€126 | -14.9% |
| Fixed assets | 21/28 | €17,405 | €41,463 | +€24,058 | +138% |
| Tangible fixed assets | 22/27 | €17,405 | €41,463 | +€24,058 | +138% |
| Furniture and vehicles | 24 | €17,405 | €41,463 | +€24,058 | +138% |
| Current assets | 29/58 | €144,563 | €148,161 | +€3,598 | +2.5% |
| Stocks and contracts in progress | 3 | €74,497 | €80,180 | +€5,684 | +7.6% |
| Stocks | 30/36 | €74,497 | €80,180 | +€5,684 | +7.6% |
| Amounts receivable within one year | 40/41 | €65,946 | €65,454 | -€492 | -0.7% |
| Trade receivables | 40 | €65,946 | €65,454 | -€492 | -0.7% |
| Cash at bank and in hand | 54/58 | €4,121 | €1,242 | -€2,878 | -69.9% |
| Deferred charges and accrued income | 490/1 | - | €1,285 | +€1,285 | |
| Total equity and liabilities | 10/49 | €162,817 | €190,347 | +€27,530 | +16.9% |
| Equity | 10/15 | €17,988 | €24,714 | +€6,727 | +37.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,988 | €22,714 | +€6,727 | +42.1% |
| Amounts payable | 17/49 | €144,830 | €165,633 | +€20,803 | +14.4% |
| Amounts payable after more than one year | 17 | €8,023 | €19,270 | +€11,246 | +140% |
| Financial debts | 170/4 | €8,023 | €19,270 | +€11,246 | +140% |
| Amounts payable within one year | 42/48 | €136,782 | €146,325 | +€9,542 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | - | €14,094 | +€14,094 | |
| Financial debts | 43 | €6,122 | - | -€6,122 | |
| Credit institutions | 430/8 | €6,122 | - | -€6,122 | |
| Trade debts | 44 | €44,511 | €43,458 | -€1,053 | -2.4% |
| Suppliers | 440/4 | €44,511 | €43,458 | -€1,053 | -2.4% |
| Advances received on contracts in progress | 46 | €60,301 | €58,950 | -€1,351 | -2.2% |
| Taxes, remuneration and social security | 45 | €6,851 | €10,363 | +€3,512 | +51.3% |
| Taxes | 450/3 | €6,851 | €10,363 | +€3,512 | +51.3% |
| Other amounts payable | 47/48 | €18,997 | €19,460 | +€463 | +2.4% |
| Accrued charges and deferred income | 492/3 | €24 | €39 | +€15 | +59.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,526 | €9,068 | +€4,542 | +100% |
| Other operating charges | 640/8 | €1,184 | €582 | -€602 | -50.8% |
| Gross operating margin | 9900 | €15,315 | €20,887 | +€5,572 | +36.4% |
| Operating profit (loss) | 9901 | €9,604 | €11,237 | +€1,632 | +17.0% |
| Financial income | 75/76B | - | €1,324 | +€1,324 | |
| Recurring financial income | 75 | - | €1,324 | +€1,324 | |
| Financial charges | 65/66B | €1,940 | €3,988 | +€2,048 | +106% |
| Recurring financial charges | 65 | €1,940 | €3,988 | +€2,048 | +106% |
| Profit (loss) for the period before taxes | 9903 | €7,664 | €8,573 | +€909 | +11.9% |
| Income taxes | 67/77 | €1,573 | €1,847 | +€274 | +17.4% |
| Profit (loss) for the period | 9904 | €6,091 | €6,727 | +€635 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,091 | €6,727 | +€635 | +10.4% |
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 22 October 2026 via checked.be.