Dr. AZIRAR: 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.
Dr. AZIRAR
Largest movements
- Tangible fixed assets -€27,372
down €27,372 (-24.2%), from €113,252 to €85,880
of which Furniture and vehicles: -€27,029
- Receivables within one year -€12,001
no longer reported in 2025 (was €12,001)
of which Trade receivables: -€11,743
- Stocks and contracts -€8,700
down €8,700 (-46.5%), from €18,700 to €10,000
- Cash +€1,785
up €1,785 (+34.5%), from €5,177 to €6,962
mainly Depreciation (+€27,372) and Receivables within one year (+€12,001)
- Other debts -€25,607
down €25,607 (-27.5%), from €93,014 to €67,408
- Trade debts -€13,904
down €13,904 (-97.4%), from €14,279 to €374
- Tax, wage and social debts -€9,308
down €9,308 (-75.3%), from €12,355 to €3,046
- Reserves +€1,645
up €1,645 (+6.5%), from €25,369 to €27,013
- Gross operating margin -€14,990
down €14,990 (-30.6%), from €49,054 to €34,064
- Depreciation +€4,974
up €4,974 (+22.2%), from €22,398 to €27,372
- Taxes -€3,089
down €3,089 (-43.8%), from €7,055 to €3,966
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 | €150,017 | €102,842 | -€47,175 | -31.4% |
| Fixed assets | 21/28 | €113,252 | €85,880 | -€27,372 | -24.2% |
| Tangible fixed assets | 22/27 | €113,252 | €85,880 | -€27,372 | -24.2% |
| Plant, machinery and equipment | 23 | €1,698 | €1,355 | -€343 | -20.2% |
| Furniture and vehicles | 24 | €111,554 | €84,526 | -€27,029 | -24.2% |
| Current assets | 29/58 | €36,765 | €16,962 | -€19,803 | -53.9% |
| Stocks and contracts in progress | 3 | €18,700 | €10,000 | -€8,700 | -46.5% |
| Stocks | 30/36 | €18,700 | €10,000 | -€8,700 | -46.5% |
| Amounts receivable within one year | 40/41 | €12,001 | - | -€12,001 | |
| Trade receivables | 40 | €11,743 | - | -€11,743 | |
| Other amounts receivable | 41 | €258 | - | -€258 | |
| Cash at bank and in hand | 54/58 | €5,177 | €6,962 | +€1,785 | +34.5% |
| Deferred charges and accrued income | 490/1 | €887 | - | -€887 | |
| Total equity and liabilities | 10/49 | €150,017 | €102,842 | -€47,175 | -31.4% |
| Equity | 10/15 | €30,369 | €32,013 | +€1,645 | +5.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,369 | €27,013 | +€1,645 | +6.5% |
| Distributable reserves | 133 | €25,369 | €27,013 | +€1,645 | +6.5% |
| Amounts payable | 17/49 | €119,648 | €70,828 | -€48,819 | -40.8% |
| Amounts payable within one year | 42/48 | €119,648 | €70,828 | -€48,819 | -40.8% |
| Trade debts | 44 | €14,279 | €374 | -€13,904 | -97.4% |
| Suppliers | 440/4 | €14,279 | €374 | -€13,904 | -97.4% |
| Taxes, remuneration and social security | 45 | €12,355 | €3,046 | -€9,308 | -75.3% |
| Taxes | 450/3 | €12,355 | €3,046 | -€9,308 | -75.3% |
| Other amounts payable | 47/48 | €93,014 | €67,408 | -€25,607 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,398 | €27,372 | +€4,974 | +22.2% |
| Other operating charges | 640/8 | €675 | €980 | +€305 | +45.2% |
| Gross operating margin | 9900 | €49,054 | €34,064 | -€14,990 | -30.6% |
| Operating profit (loss) | 9901 | €25,980 | €5,712 | -€20,269 | -78.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €43 | €101 | +€58 | +136% |
| Recurring financial charges | 65 | €43 | €101 | +€58 | +136% |
| Profit (loss) for the period before taxes | 9903 | €25,937 | €5,611 | -€20,327 | -78.4% |
| Income taxes | 67/77 | €7,055 | €3,966 | -€3,089 | -43.8% |
| Profit (loss) for the period | 9904 | €18,882 | €1,645 | -€17,238 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,882 | €1,645 | -€17,238 | -91.3% |
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 17 October 2026 via checked.be.