AZUMA: 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.
AZUMA
Largest movements
- Tangible fixed assets -€10,458
down €10,458 (-30.6%), from €34,142 to €23,684
of which Furniture and vehicles: -€26,468
- Cash +€8,537
up €8,537 (+167.9%), from €5,084 to €13,621
mainly Net result for the year (+€51,433) and Tax, wage and social debts (+€22,978)
- Receivables within one year -€6,019
down €6,019 (-37.2%), from €16,197 to €10,179
of which Trade receivables: -€6,340
- Intangible fixed assets -€5,833
no longer reported in 2025 (was €5,833)
- Tax, wage and social debts +€22,978
up €22,978 (+1427.0%), from €1,610 to €24,588
of which Taxes: +€24,588
- Reserves -€14,567
down €14,567 (-93.0%), from €15,655 to €1,088
- Debts after one year -€10,860
no longer reported in 2025 (was €10,860)
- Current portion of long-term debt -€9,131
no longer reported in 2025 (was €9,131)
- Other debts -€3,203
no longer reported in 2025 (was €3,203)
- Gross operating margin +€38,692
up €38,692 (+70.0%), from €55,307 to €93,999
- Taxes +€18,784
up €18,784, from €0 to €18,784
- Depreciation -€18,514
down €18,514 (-74.6%), from €24,821 to €6,307
- Other operating charges +€9,118
up €9,118 (+178.6%), from €5,105 to €14,223
- Staff costs -€8,283
down €8,283 (-77.1%), from €10,737 to €2,454
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 | €61,868 | €47,483 | -€14,385 | -23.3% |
| Fixed assets | 21/28 | €39,975 | €23,684 | -€16,292 | -40.8% |
| Intangible fixed assets | 21 | €5,833 | - | -€5,833 | |
| Tangible fixed assets | 22/27 | €34,142 | €23,684 | -€10,458 | -30.6% |
| Plant, machinery and equipment | 23 | €3,245 | €10,440 | +€7,194 | +221.7% |
| Furniture and vehicles | 24 | €26,468 | €0 | -€26,468 | -100.0% |
| Other tangible fixed assets | 26 | €4,428 | €13,244 | +€8,816 | +199.1% |
| Current assets | 29/58 | €21,893 | €23,800 | +€1,907 | +8.7% |
| Stocks and contracts in progress | 3 | €611 | - | -€611 | |
| Stocks | 30/36 | €611 | - | -€611 | |
| Amounts receivable within one year | 40/41 | €16,197 | €10,179 | -€6,019 | -37.2% |
| Trade receivables | 40 | €7,723 | €1,383 | -€6,340 | -82.1% |
| Other amounts receivable | 41 | €8,475 | €8,796 | +€321 | +3.8% |
| Cash at bank and in hand | 54/58 | €5,084 | €13,621 | +€8,537 | +167.9% |
| Total equity and liabilities | 10/49 | €61,868 | €47,483 | -€14,385 | -23.3% |
| Equity | 10/15 | €36,115 | €21,548 | -€14,567 | -40.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €15,655 | €1,088 | -€14,567 | -93.0% |
| Distributable reserves | 133 | €15,655 | €1,088 | -€14,567 | -93.0% |
| Amounts payable | 17/49 | €25,753 | €25,935 | +€182 | +0.7% |
| Amounts payable after more than one year | 17 | €10,860 | - | -€10,860 | |
| Financial debts | 170/4 | €10,860 | - | -€10,860 | |
| Amounts payable within one year | 42/48 | €14,893 | €25,935 | +€11,042 | +74.1% |
| Current portion of amounts payable after more than one year | 42 | €9,131 | - | -€9,131 | |
| Trade debts | 44 | €950 | €1,347 | +€398 | +41.9% |
| Suppliers | 440/4 | €950 | €1,347 | +€398 | +41.9% |
| Taxes, remuneration and social security | 45 | €1,610 | €24,588 | +€22,978 | +1427.0% |
| Taxes | 450/3 | - | €24,588 | +€24,588 | |
| Remuneration and social security | 454/9 | €1,610 | - | -€1,610 | |
| Other amounts payable | 47/48 | €3,203 | - | -€3,203 | |
| Remuneration, social security and pensions | 62 | €10,737 | €2,454 | -€8,283 | -77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,821 | €6,307 | -€18,514 | -74.6% |
| Other operating charges | 640/8 | €5,105 | €14,223 | +€9,118 | +178.6% |
| Gross operating margin | 9900 | €55,307 | €93,999 | +€38,692 | +70.0% |
| Operating profit (loss) | 9901 | €14,644 | €71,015 | +€56,371 | +385.0% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €976 | €830 | -€146 | -15.0% |
| Recurring financial charges | 65 | €976 | €830 | -€146 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €13,667 | €70,217 | +€56,549 | +413.8% |
| Income taxes | 67/77 | €0 | €18,784 | +€18,784 | |
| Profit (loss) for the period | 9904 | €13,667 | €51,433 | +€37,766 | +276.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,667 | €51,433 | +€37,766 | +276.3% |
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 9 October 2026 via checked.be.