Azutti: 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.
Azutti
Largest movements
- Tangible fixed assets +€254,599
up €254,599 (+63.7%), from €399,571 to €654,170
of which Land and buildings: +€260,308
- Cash -€52,194
down €52,194 (-58.7%), from €88,968 to €36,774
mainly Investment in fixed assets (net) (-€275,773) and Contributions, distributions and other (-€27,000)
- Receivables within one year -€11,148
down €11,148 (-20.4%), from €54,729 to €43,581
of which Other amounts receivable: -€12,632
- Debts after one year +€180,081
up €180,081 (+73.0%), from €246,657 to €426,738
- Other debts +€19,898
up €19,898 (+1,737%), from €1,146 to €21,044
- Reserves -€13,484
down €13,484 (-5.2%), from €261,623 to €248,139
- Gross operating margin -€41,460
down €41,460 (-39.9%), from €103,991 to €62,532
- Taxes -€16,612
down €16,612 (-74.3%), from €22,369 to €5,757
- Other operating charges +€8,155
up €8,155 (+465%), from €1,753 to €9,908
- Financial charges +€6,032
up €6,032 (+98.1%), from €6,146 to €12,178
- Depreciation +€4,136
up €4,136 (+24.3%), from €17,038 to €21,174
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 | €546,019 | €737,688 | +€191,669 | +35.1% |
| Fixed assets | 21/28 | €399,571 | €654,170 | +€254,599 | +63.7% |
| Tangible fixed assets | 22/27 | €399,571 | €654,170 | +€254,599 | +63.7% |
| Land and buildings | 22 | €372,793 | €633,101 | +€260,308 | +69.8% |
| Plant, machinery and equipment | 23 | €1,256 | €1,733 | +€476 | +37.9% |
| Furniture and vehicles | 24 | €16,439 | €11,646 | -€4,793 | -29.2% |
| Other tangible fixed assets | 26 | €9,083 | €7,690 | -€1,392 | -15.3% |
| Current assets | 29/58 | €146,448 | €83,517 | -€62,930 | -43.0% |
| Amounts receivable within one year | 40/41 | €54,729 | €43,581 | -€11,148 | -20.4% |
| Trade receivables | 40 | €37,854 | €39,338 | +€1,484 | +3.9% |
| Other amounts receivable | 41 | €16,875 | €4,243 | -€12,632 | -74.9% |
| Cash at bank and in hand | 54/58 | €88,968 | €36,774 | -€52,194 | -58.7% |
| Deferred charges and accrued income | 490/1 | €2,751 | €3,163 | +€412 | +15.0% |
| Total equity and liabilities | 10/49 | €546,019 | €737,688 | +€191,669 | +35.1% |
| Equity | 10/15 | €262,623 | €249,139 | -€13,484 | -5.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €261,623 | €248,139 | -€13,484 | -5.2% |
| Distributable reserves | 133 | €261,623 | €248,139 | -€13,484 | -5.2% |
| Amounts payable | 17/49 | €283,396 | €488,548 | +€205,153 | +72.4% |
| Amounts payable after more than one year | 17 | €246,657 | €426,738 | +€180,081 | +73.0% |
| Financial debts | 170/4 | €246,657 | €426,738 | +€180,081 | +73.0% |
| Amounts payable within one year | 42/48 | €36,739 | €61,810 | +€25,072 | +68.2% |
| Current portion of amounts payable after more than one year | 42 | €15,273 | €13,864 | -€1,410 | -9.2% |
| Financial debts | 43 | - | €3,365 | +€3,365 | |
| Credit institutions | 430/8 | - | €3,365 | +€3,365 | |
| Trade debts | 44 | €2,178 | €4,778 | +€2,600 | +119% |
| Suppliers | 440/4 | €2,178 | €4,778 | +€2,600 | +119% |
| Taxes, remuneration and social security | 45 | €18,142 | €18,760 | +€618 | +3.4% |
| Taxes | 450/3 | €18,142 | €18,760 | +€618 | +3.4% |
| Other amounts payable | 47/48 | €1,146 | €21,044 | +€19,898 | +1,737% |
| Non-recurring operating income | 76A | €10,007 | - | -€10,007 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,038 | €21,174 | +€4,136 | +24.3% |
| Other operating charges | 640/8 | €1,753 | €9,908 | +€8,155 | +465% |
| Gross operating margin | 9900 | €103,991 | €62,532 | -€41,460 | -39.9% |
| Operating profit (loss) | 9901 | €85,200 | €31,450 | -€53,750 | -63.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +381% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +381% |
| Financial charges | 65/66B | €6,146 | €12,178 | +€6,032 | +98.1% |
| Recurring financial charges | 65 | €6,146 | €12,178 | +€6,032 | +98.1% |
| Profit (loss) for the period before taxes | 9903 | €79,055 | €19,273 | -€59,782 | -75.6% |
| Income taxes | 67/77 | €22,369 | €5,757 | -€16,612 | -74.3% |
| Profit (loss) for the period | 9904 | €56,685 | €13,516 | -€43,170 | -76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,685 | €13,516 | -€43,170 | -76.2% |
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.