Azurali: 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.
Azurali
Largest movements
- Cash +€45,193
up €45,193 (+62.4%), from €72,398 to €117,591
mainly Depreciation (+€36,459) and Receivables within one year (+€31,902)
- Receivables within one year -€31,902
down €31,902 (-14.3%), from €222,478 to €190,576
of which Other amounts receivable: -€126,296
- Deferred charges and accrued income +€3,793
up €3,793 (+90.9%), from €4,173 to €7,966
- Tax, wage and social debts +€20,552
up €20,552 (+119%), from €17,237 to €37,789
of which Remuneration and social security: +€13,226
- Trade debts -€14,141
down €14,141 (-53.9%), from €26,231 to €12,090
- Profit (loss) carried forward +€13,592
up €13,592 (+11.5%), from €118,561 to €132,153
- Debts after one year -€9,060
down €9,060 (-7.3%), from €124,698 to €115,638
- Current portion of long-term debt +€6,375
up €6,375 (+25.9%), from €24,576 to €30,952
- Staff costs +€49,599
up €49,599 (+25.4%), from €195,609 to €245,208
- Gross operating margin +€21,218
up €21,218 (+6.8%), from €313,117 to €334,335
- Taxes -€5,288
down €5,288 (-25.9%), from €20,388 to €15,100
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 | €334,292 | €353,068 | +€18,777 | +5.6% |
| Fixed assets | 21/28 | €35,243 | €36,936 | +€1,693 | +4.8% |
| Tangible fixed assets | 22/27 | €35,243 | €34,278 | -€965 | -2.7% |
| Land and buildings | 22 | €32,016 | €2,650 | -€29,366 | -91.7% |
| Plant, machinery and equipment | 23 | €221 | €2,444 | +€2,223 | +1,004% |
| Furniture and vehicles | 24 | €3,005 | €29,184 | +€26,178 | +871% |
| Financial fixed assets | 28 | - | €2,658 | +€2,658 | |
| Current assets | 29/58 | €299,049 | €316,133 | +€17,084 | +5.7% |
| Amounts receivable within one year | 40/41 | €222,478 | €190,576 | -€31,902 | -14.3% |
| Trade receivables | 40 | €20,289 | €114,684 | +€94,395 | +465% |
| Other amounts receivable | 41 | €202,188 | €75,892 | -€126,296 | -62.5% |
| Cash at bank and in hand | 54/58 | €72,398 | €117,591 | +€45,193 | +62.4% |
| Deferred charges and accrued income | 490/1 | €4,173 | €7,966 | +€3,793 | +90.9% |
| Total equity and liabilities | 10/49 | €334,292 | €353,068 | +€18,777 | +5.6% |
| Equity | 10/15 | €137,161 | €150,753 | +€13,592 | +9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,561 | €132,153 | +€13,592 | +11.5% |
| Amounts payable | 17/49 | €197,130 | €202,315 | +€5,185 | +2.6% |
| Amounts payable after more than one year | 17 | €124,698 | €115,638 | -€9,060 | -7.3% |
| Financial debts | 170/4 | €124,698 | €115,638 | -€9,060 | -7.3% |
| Amounts payable within one year | 42/48 | €68,044 | €86,677 | +€18,633 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €24,576 | €30,952 | +€6,375 | +25.9% |
| Financial debts | 43 | - | €5,500 | +€5,500 | |
| Credit institutions | 430/8 | - | €5,500 | +€5,500 | |
| Trade debts | 44 | €26,231 | €12,090 | -€14,141 | -53.9% |
| Suppliers | 440/4 | €26,231 | €12,090 | -€14,141 | -53.9% |
| Taxes, remuneration and social security | 45 | €17,237 | €37,789 | +€20,552 | +119% |
| Taxes | 450/3 | €1,614 | €8,940 | +€7,326 | +454% |
| Remuneration and social security | 454/9 | €15,623 | €28,849 | +€13,226 | +84.7% |
| Other amounts payable | 47/48 | - | €346 | +€346 | |
| Accrued charges and deferred income | 492/3 | €4,388 | - | -€4,388 | |
| Remuneration, social security and pensions | 62 | €195,609 | €245,208 | +€49,599 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,625 | €36,459 | -€2,166 | -5.6% |
| Other operating charges | 640/8 | €6,215 | €6,698 | +€483 | +7.8% |
| Non-recurring operating charges | 66A | €6,454 | €11,236 | +€4,782 | +74.1% |
| Gross operating margin | 9900 | €313,117 | €334,335 | +€21,218 | +6.8% |
| Operating profit (loss) | 9901 | €66,214 | €34,733 | -€31,481 | -47.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,525% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,525% |
| Financial charges | 65/66B | €5,673 | €6,042 | +€370 | +6.5% |
| Recurring financial charges | 65 | €5,673 | €6,042 | +€370 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €60,542 | €28,692 | -€31,850 | -52.6% |
| Income taxes | 67/77 | €20,388 | €15,100 | -€5,288 | -25.9% |
| Profit (loss) for the period | 9904 | €40,154 | €13,592 | -€26,562 | -66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,154 | €13,592 | -€26,562 | -66.1% |
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 17 October 2026 via checked.be.