AZZA: 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.
AZZA
Largest movements
- Current investments -€15,122
down €15,122 (-18.0%), from €84,169 to €69,048
- Tangible fixed assets -€12,379
down €12,379 (-6.0%), from €204,777 to €192,399
of which Furniture and vehicles: -€8,500
- Cash +€11,806
up €11,806 (+104%), from €11,346 to €23,152
mainly Net result for the year (+€35,741) and Depreciation (+€18,164)
- Reserves +€34,908
up €34,908 (+28.0%), from €124,485 to €159,393
- Other debts -€34,675
down €34,675 (-98.3%), from €35,258 to €583
- Debts after one year -€21,745
down €21,745 (-18.5%), from €117,669 to €95,924
- Trade debts +€4,746
up €4,746 (+129%), from €3,676 to €8,422
- Gross operating margin +€25,042
up €25,042 (+51.0%), from €49,092 to €74,134
- Financial income +€8,668
up €8,668 (+10,812%), from €80 to €8,748
- Depreciation +€6,922
up €6,922 (+61.6%), from €11,242 to €18,164
- Taxes +€4,918
up €4,918 (+70.2%), from €7,006 to €11,925
- Financial charges +€1,730
up €1,730 (+46.0%), from €3,763 to €5,493
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 | €315,172 | €300,864 | -€14,307 | -4.5% |
| Fixed assets | 21/28 | €204,777 | €192,399 | -€12,379 | -6.0% |
| Tangible fixed assets | 22/27 | €204,777 | €192,399 | -€12,379 | -6.0% |
| Land and buildings | 22 | €154,754 | €148,475 | -€6,278 | -4.1% |
| Plant, machinery and equipment | 23 | €9,956 | €12,640 | +€2,683 | +26.9% |
| Furniture and vehicles | 24 | €38,244 | €29,744 | -€8,500 | -22.2% |
| Other tangible fixed assets | 26 | €1,824 | €1,539 | -€284 | -15.6% |
| Current assets | 29/58 | €110,394 | €108,465 | -€1,929 | -1.7% |
| Amounts receivable within one year | 40/41 | €13,690 | €15,005 | +€1,315 | +9.6% |
| Trade receivables | 40 | €13,690 | €13,690 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,315 | +€1,315 | |
| Current investments | 50/53 | €84,169 | €69,048 | -€15,122 | -18.0% |
| Cash at bank and in hand | 54/58 | €11,346 | €23,152 | +€11,806 | +104% |
| Deferred charges and accrued income | 490/1 | €1,189 | €1,260 | +€72 | +6.0% |
| Total equity and liabilities | 10/49 | €315,172 | €300,864 | -€14,307 | -4.5% |
| Equity | 10/15 | €130,685 | €165,593 | +€34,908 | +26.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,485 | €159,393 | +€34,908 | +28.0% |
| Distributable reserves | 133 | €124,485 | €159,393 | +€34,908 | +28.0% |
| Amounts payable | 17/49 | €184,487 | €135,272 | -€49,215 | -26.7% |
| Amounts payable after more than one year | 17 | €117,669 | €95,924 | -€21,745 | -18.5% |
| Financial debts | 170/4 | €117,669 | €95,924 | -€21,745 | -18.5% |
| Amounts payable within one year | 42/48 | €66,817 | €39,348 | -€27,470 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €20,870 | €21,745 | +€875 | +4.2% |
| Trade debts | 44 | €3,676 | €8,422 | +€4,746 | +129% |
| Suppliers | 440/4 | €3,676 | €8,422 | +€4,746 | +129% |
| Taxes, remuneration and social security | 45 | €7,013 | €8,598 | +€1,584 | +22.6% |
| Taxes | 450/3 | €7,013 | €8,598 | +€1,584 | +22.6% |
| Other amounts payable | 47/48 | €35,258 | €583 | -€34,675 | -98.3% |
| Non-recurring operating income | 76A | - | €9,502 | +€9,502 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,242 | €18,164 | +€6,922 | +61.6% |
| Other operating charges | 640/8 | €11,574 | €11,560 | -€14 | -0.1% |
| Gross operating margin | 9900 | €49,092 | €74,134 | +€25,042 | +51.0% |
| Operating profit (loss) | 9901 | €26,276 | €44,410 | +€18,134 | +69.0% |
| Financial income | 75/76B | €80 | €8,748 | +€8,668 | +10,812% |
| Recurring financial income | 75 | €80 | €8,748 | +€8,668 | +10,812% |
| Financial charges | 65/66B | €3,763 | €5,493 | +€1,730 | +46.0% |
| Recurring financial charges | 65 | €3,763 | €5,493 | +€1,730 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €22,593 | €47,665 | +€25,072 | +111% |
| Income taxes | 67/77 | €7,006 | €11,925 | +€4,918 | +70.2% |
| Profit (loss) for the period | 9904 | €15,587 | €35,741 | +€20,153 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €15,587 | €35,741 | +€20,153 | +129% |
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 15 October 2026 via checked.be.