AZUL MAYA: 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.
AZUL MAYA
Largest movements
- Cash -€15,864
down €15,864 (-32.0%), from €49,504 to €33,640
mainly Net result for the year (-€22,594) and Other debts (-€119)
- Stocks and contracts -€2,508
down €2,508 (-30.4%), from €8,242 to €5,734
- Profit (loss) carried forward -€22,594
down €22,594 (-40.0%), from -€56,527 to -€79,121
- Tax, wage and social debts +€3,344
up €3,344 (+972%), from €344 to €3,688
of which Remuneration and social security: +€3,607
- Gross operating margin -€2,366
down €2,366 (-13.0%), from -€18,258 to -€20,624
- Other operating charges -€1,185
down €1,185 (-46.3%), from €2,561 to €1,376
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 | €58,667 | €39,393 | -€19,274 | -32.9% |
| Fixed assets | 21/28 | €563 | €19 | -€544 | -96.6% |
| Tangible fixed assets | 22/27 | €563 | €19 | -€544 | -96.6% |
| Furniture and vehicles | 24 | €563 | €19 | -€544 | -96.6% |
| Current assets | 29/58 | €58,104 | €39,374 | -€18,730 | -32.2% |
| Stocks and contracts in progress | 3 | €8,242 | €5,734 | -€2,508 | -30.4% |
| Stocks | 30/36 | €8,242 | €5,734 | -€2,508 | -30.4% |
| Amounts receivable within one year | 40/41 | €358 | - | -€358 | |
| Other amounts receivable | 41 | €358 | - | -€358 | |
| Cash at bank and in hand | 54/58 | €49,504 | €33,640 | -€15,864 | -32.0% |
| Total equity and liabilities | 10/49 | €58,667 | €39,393 | -€19,274 | -32.9% |
| Equity | 10/15 | €53,473 | €30,879 | -€22,594 | -42.3% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,527 | -€79,121 | -€22,594 | -40.0% |
| Amounts payable | 17/49 | €5,194 | €8,514 | +€3,320 | +63.9% |
| Amounts payable within one year | 42/48 | €5,194 | €8,514 | +€3,320 | +63.9% |
| Trade debts | 44 | €113 | €208 | +€95 | +84.1% |
| Suppliers | 440/4 | €113 | €208 | +€95 | +84.1% |
| Taxes, remuneration and social security | 45 | €344 | €3,688 | +€3,344 | +972% |
| Taxes | 450/3 | €344 | €81 | -€263 | -76.5% |
| Remuneration and social security | 454/9 | - | €3,607 | +€3,607 | |
| Other amounts payable | 47/48 | €4,737 | €4,618 | -€119 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €544 | = | 0.0% |
| Other operating charges | 640/8 | €2,561 | €1,376 | -€1,185 | -46.3% |
| Gross operating margin | 9900 | -€18,258 | -€20,624 | -€2,366 | -13.0% |
| Operating profit (loss) | 9901 | -€21,363 | -€22,544 | -€1,181 | -5.5% |
| Financial charges | 65/66B | €42 | €50 | +€8 | +19.0% |
| Recurring financial charges | 65 | €42 | €50 | +€8 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | -€21,405 | -€22,594 | -€1,189 | -5.6% |
| Profit (loss) for the period | 9904 | -€21,405 | -€22,594 | -€1,189 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,405 | -€22,594 | -€1,189 | -5.6% |
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 16 October 2026 via checked.be.