AZURO: 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.
AZURO
Largest movements
- Current investments -€49,855
down €49,855 (-19.1%), from €260,803 to €210,948
- Cash +€35,743
up €35,743 (+1119.7%), from €3,192 to €38,935
mainly Current investments (+€49,855) and Net result for the year (+€16,183)
- Receivables within one year +€16,579
up €16,579 (+70.3%), from €23,596 to €40,175
- Tangible fixed assets -€12,424
down €12,424 (-7.3%), from €169,253 to €156,829
of which Land and buildings: -€9,218
- Debts after one year -€29,084
down €29,084 (-13.6%), from €214,122 to €185,038
- Profit (loss) carried forward +€16,183
up €16,183 (+2.2%), from €748,705 to €764,888
- Financial income -€100,470
down €100,470 (-93.0%), from €107,994 to €7,524
- Gross operating margin +€4,194
up €4,194 (+14.5%), from €28,912 to €33,106
- Depreciation -€3,586
down €3,586 (-22.4%), from €16,011 to €12,424
- Financial charges -€893
down €893 (-10.8%), from €8,235 to €7,342
- Taxes +€545
up €545 (+92.6%), from €588 to €1,133
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 | €1,189,633 | €1,179,676 | -€9,957 | -0.8% |
| Fixed assets | 21/28 | €902,042 | €889,618 | -€12,424 | -1.4% |
| Tangible fixed assets | 22/27 | €169,253 | €156,829 | -€12,424 | -7.3% |
| Land and buildings | 22 | €156,325 | €147,108 | -€9,218 | -5.9% |
| Plant, machinery and equipment | 23 | €12,928 | €9,722 | -€3,207 | -24.8% |
| Financial fixed assets | 28 | €732,789 | €732,789 | = | 0.0% |
| Current assets | 29/58 | €287,591 | €290,058 | +€2,467 | +0.9% |
| Amounts receivable within one year | 40/41 | €23,596 | €40,175 | +€16,579 | +70.3% |
| Other amounts receivable | 41 | €23,596 | €40,175 | +€16,579 | +70.3% |
| Current investments | 50/53 | €260,803 | €210,948 | -€49,855 | -19.1% |
| Cash at bank and in hand | 54/58 | €3,192 | €38,935 | +€35,743 | +1119.7% |
| Total equity and liabilities | 10/49 | €1,189,633 | €1,179,676 | -€9,957 | -0.8% |
| Equity | 10/15 | €816,905 | €833,088 | +€16,183 | +2.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €748,705 | €764,888 | +€16,183 | +2.2% |
| Amounts payable | 17/49 | €372,728 | €346,588 | -€26,140 | -7.0% |
| Amounts payable after more than one year | 17 | €214,122 | €185,038 | -€29,084 | -13.6% |
| Financial debts | 170/4 | €214,122 | €185,038 | -€29,084 | -13.6% |
| Amounts payable within one year | 42/48 | €158,606 | €161,550 | +€2,944 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €30,956 | €31,686 | +€730 | +2.4% |
| Trade debts | 44 | €787 | - | -€787 | |
| Suppliers | 440/4 | €787 | - | -€787 | |
| Other amounts payable | 47/48 | €126,864 | €129,864 | +€3,000 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,011 | €12,424 | -€3,586 | -22.4% |
| Other operating charges | 640/8 | €3,439 | €3,548 | +€109 | +3.2% |
| Gross operating margin | 9900 | €28,912 | €33,106 | +€4,194 | +14.5% |
| Operating profit (loss) | 9901 | €9,462 | €17,133 | +€7,671 | +81.1% |
| Financial income | 75/76B | €107,994 | €7,524 | -€100,470 | -93.0% |
| Recurring financial income | 75 | €107,994 | €7,524 | -€100,470 | -93.0% |
| Financial charges | 65/66B | €8,235 | €7,342 | -€893 | -10.8% |
| Recurring financial charges | 65 | €8,235 | €7,342 | -€893 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €109,221 | €17,315 | -€91,905 | -84.1% |
| Income taxes | 67/77 | €588 | €1,133 | +€545 | +92.6% |
| Profit (loss) for the period | 9904 | €108,633 | €16,183 | -€92,450 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €108,633 | €16,183 | -€92,450 | -85.1% |
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.