AZZURRO: 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.
AZZURRO
Largest movements
- Cash +€42,264
up €42,264 (+59.6%), from €70,880 to €113,143
mainly Net result for the year (+€57,227) and Tax, wage and social debts (+€23,355)
- Receivables within one year +€16,940
up €16,940 (+25.0%), from €67,713 to €84,654
of which Other amounts receivable: +€16,991
- Tangible fixed assets +€6,851
up €6,851 (+8.9%), from €76,908 to €83,759
of which Furniture and vehicles: +€13,956
- Stocks and contracts +€5,000
new in 2025: €5,000
- Reserves +€57,227
up €57,227 (+52.2%), from €109,694 to €166,921
- Tax, wage and social debts +€23,355
up €23,355 (+76.3%), from €30,602 to €53,957
of which Remuneration and social security: +€26,747
- Debts after one year -€12,387
down €12,387 (-30.1%), from €41,148 to €28,761
- Gross operating margin +€27,281
up €27,281 (+20.5%), from €132,787 to €160,068
- Staff costs -€18,115
down €18,115 (-23.9%), from €75,823 to €57,708
- Taxes +€13,322
up €13,322 (+171.1%), from €7,785 to €21,107
- Depreciation +€6,189
up €6,189 (+39.6%), from €15,631 to €21,820
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 | €216,765 | €286,789 | +€70,024 | +32.3% |
| Formation expenses | 20 | €1,237 | - | -€1,237 | |
| Fixed assets | 21/28 | €76,908 | €83,759 | +€6,851 | +8.9% |
| Tangible fixed assets | 22/27 | €76,908 | €83,759 | +€6,851 | +8.9% |
| Plant, machinery and equipment | 23 | €73,730 | €66,625 | -€7,105 | -9.6% |
| Furniture and vehicles | 24 | €3,178 | €17,134 | +€13,956 | +439.1% |
| Current assets | 29/58 | €138,620 | €203,030 | +€64,410 | +46.5% |
| Stocks and contracts in progress | 3 | - | €5,000 | +€5,000 | |
| Stocks | 30/36 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €67,713 | €84,654 | +€16,940 | +25.0% |
| Trade receivables | 40 | €51 | - | -€51 | |
| Other amounts receivable | 41 | €67,663 | €84,654 | +€16,991 | +25.1% |
| Cash at bank and in hand | 54/58 | €70,880 | €113,143 | +€42,264 | +59.6% |
| Deferred charges and accrued income | 490/1 | €27 | €233 | +€206 | +768.4% |
| Total equity and liabilities | 10/49 | €216,765 | €286,789 | +€70,024 | +32.3% |
| Equity | 10/15 | €119,694 | €176,921 | +€57,227 | +47.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €109,694 | €166,921 | +€57,227 | +52.2% |
| Distributable reserves | 133 | €109,694 | €166,921 | +€57,227 | +52.2% |
| Amounts payable | 17/49 | €97,071 | €109,868 | +€12,796 | +13.2% |
| Amounts payable after more than one year | 17 | €41,148 | €28,761 | -€12,387 | -30.1% |
| Financial debts | 170/4 | €41,148 | €28,761 | -€12,387 | -30.1% |
| Amounts payable within one year | 42/48 | €55,924 | €81,107 | +€25,183 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €11,787 | €12,387 | +€599 | +5.1% |
| Trade debts | 44 | €13,534 | €14,763 | +€1,229 | +9.1% |
| Suppliers | 440/4 | €13,534 | €14,763 | +€1,229 | +9.1% |
| Taxes, remuneration and social security | 45 | €30,602 | €53,957 | +€23,355 | +76.3% |
| Taxes | 450/3 | €26,809 | €23,416 | -€3,393 | -12.7% |
| Remuneration and social security | 454/9 | €3,793 | €30,540 | +€26,747 | +705.2% |
| Remuneration, social security and pensions | 62 | €75,823 | €57,708 | -€18,115 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,631 | €21,820 | +€6,189 | +39.6% |
| Other operating charges | 640/8 | €3,441 | €3,028 | -€412 | -12.0% |
| Non-recurring operating charges | 66A | €12,563 | - | -€12,563 | |
| Gross operating margin | 9900 | €132,787 | €160,068 | +€27,281 | +20.5% |
| Operating profit (loss) | 9901 | €25,330 | €77,512 | +€52,182 | +206.0% |
| Financial income | 75/76B | €4,649 | €4,786 | +€137 | +2.9% |
| Recurring financial income | 75 | €4,649 | €4,786 | +€137 | +2.9% |
| Financial charges | 65/66B | €3,335 | €3,963 | +€628 | +18.8% |
| Recurring financial charges | 65 | €3,335 | €3,963 | +€628 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €26,644 | €78,335 | +€51,691 | +194.0% |
| Income taxes | 67/77 | €7,785 | €21,107 | +€13,322 | +171.1% |
| Profit (loss) for the period | 9904 | €18,859 | €57,227 | +€38,369 | +203.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,859 | €57,227 | +€38,369 | +203.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.