AZZARI: 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.
AZZARI
Largest movements
- Tangible fixed assets +€53,827
up €53,827 (+87.6%), from €61,480 to €115,307
of which Other tangible fixed assets: +€55,995
- Stocks and contracts +€22,769
up €22,769 (+264.6%), from €8,606 to €31,375
- Receivables within one year -€16,812
down €16,812 (-25.7%), from €65,449 to €48,637
of which Trade receivables: -€29,384
- Cash -€11,864
down €11,864 (-17.0%), from €69,597 to €57,733
mainly Investment in fixed assets (net) (-€63,309) and Stocks and contracts (-€22,769)
- Reserves +€39,374
up €39,374 (+45.7%), from €86,130 to €125,505
- Trade debts +€11,151
up €11,151 (+50.8%), from €21,962 to €33,113
- Current portion of long-term debt +€8,428
new in 2025: €8,428
- Accrued charges and deferred income -€8,010
down €8,010 (-11.5%), from €69,692 to €61,682
- Other debts -€3,258
down €3,258 (-15.0%), from €21,783 to €18,525
- Gross operating margin -€55,358
down €55,358 (-44.8%), from €123,693 to €68,335
- Taxes -€12,505
down €12,505 (-50.4%), from €24,826 to €12,320
- Other operating charges -€5,346
down €5,346 (-75.0%), from €7,133 to €1,787
- Financial charges +€3,222
up €3,222 (+73.1%), from €4,409 to €7,630
- Depreciation +€2,182
up €2,182 (+39.0%), from €5,601 to €7,784
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 | €207,590 | €257,189 | +€49,599 | +23.9% |
| Fixed assets | 21/28 | €61,480 | €117,005 | +€55,525 | +90.3% |
| Intangible fixed assets | 21 | - | €1,698 | +€1,698 | |
| Tangible fixed assets | 22/27 | €61,480 | €115,307 | +€53,827 | +87.6% |
| Plant, machinery and equipment | 23 | €1,092 | €0 | -€1,092 | -100.0% |
| Furniture and vehicles | 24 | €2,489 | €1,413 | -€1,076 | -43.2% |
| Other tangible fixed assets | 26 | €57,898 | €113,893 | +€55,995 | +96.7% |
| Current assets | 29/58 | €146,111 | €140,184 | -€5,926 | -4.1% |
| Stocks and contracts in progress | 3 | €8,606 | €31,375 | +€22,769 | +264.6% |
| Stocks | 30/36 | €8,606 | €31,375 | +€22,769 | +264.6% |
| Amounts receivable within one year | 40/41 | €65,449 | €48,637 | -€16,812 | -25.7% |
| Trade receivables | 40 | €65,161 | €35,777 | -€29,384 | -45.1% |
| Other amounts receivable | 41 | €288 | €12,860 | +€12,572 | +4367.5% |
| Cash at bank and in hand | 54/58 | €69,597 | €57,733 | -€11,864 | -17.0% |
| Deferred charges and accrued income | 490/1 | €2,459 | €2,440 | -€20 | -0.8% |
| Total equity and liabilities | 10/49 | €207,590 | €257,189 | +€49,599 | +23.9% |
| Equity | 10/15 | €87,130 | €126,505 | +€39,374 | +45.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €86,130 | €125,505 | +€39,374 | +45.7% |
| Distributable reserves | 133 | €86,130 | €125,505 | +€39,374 | +45.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €120,460 | €130,684 | +€10,224 | +8.5% |
| Amounts payable within one year | 42/48 | €50,767 | €69,002 | +€18,235 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,428 | +€8,428 | |
| Trade debts | 44 | €21,962 | €33,113 | +€11,151 | +50.8% |
| Suppliers | 440/4 | €21,962 | €33,113 | +€11,151 | +50.8% |
| Taxes, remuneration and social security | 45 | €7,022 | €8,936 | +€1,914 | +27.3% |
| Taxes | 450/3 | €7,022 | €7,136 | +€114 | +1.6% |
| Remuneration and social security | 454/9 | €0 | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | €21,783 | €18,525 | -€3,258 | -15.0% |
| Accrued charges and deferred income | 492/3 | €69,692 | €61,682 | -€8,010 | -11.5% |
| Non-recurring operating income | 76A | €0 | €1,642 | +€1,642 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,601 | €7,784 | +€2,182 | +39.0% |
| Other operating charges | 640/8 | €7,133 | €1,787 | -€5,346 | -75.0% |
| Gross operating margin | 9900 | €123,693 | €68,335 | -€55,358 | -44.8% |
| Operating profit (loss) | 9901 | €110,958 | €58,765 | -€52,194 | -47.0% |
| Financial income | 75/76B | €484 | €561 | +€77 | +15.9% |
| Recurring financial income | 75 | €484 | €561 | +€77 | +15.9% |
| Financial charges | 65/66B | €4,409 | €7,630 | +€3,222 | +73.1% |
| Recurring financial charges | 65 | €4,409 | €7,630 | +€3,222 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | €107,033 | €51,695 | -€55,338 | -51.7% |
| Income taxes | 67/77 | €24,826 | €12,320 | -€12,505 | -50.4% |
| Profit (loss) for the period | 9904 | €82,207 | €39,374 | -€42,833 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,207 | €39,374 | -€42,833 | -52.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.