L'AZTEQUE: 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.
L'AZTEQUE
Largest movements
- Cash -€18,885
down €18,885 (-6.4%), from €295,034 to €276,149
mainly Investment in fixed assets (net) (-€27,701) and Contributions, distributions and other (-€25,525)
- Reserves +€72,000
up €72,000 (+19.0%), from €378,940 to €450,940
- Debts after one year -€24,474
down €24,474 (-8.4%), from €290,938 to €266,464
- Other debts -€24,250
no longer reported in 2025 (was €24,250)
- Trade debts -€18,305
down €18,305 (-39.1%), from €46,835 to €28,529
- Tax, wage and social debts -€14,240
down €14,240 (-57.9%), from €24,585 to €10,345
of which Taxes: -€11,890
- Gross operating margin +€9,804
up €9,804 (+3.4%), from €290,048 to €299,852
- Depreciation -€3,793
down €3,793 (-11.8%), from €32,052 to €28,258
- Taxes +€3,712
up €3,712 (+10.0%), from €37,192 to €40,904
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 | €846,316 | €831,690 | -€14,627 | -1.7% |
| Fixed assets | 21/28 | €466,901 | €466,344 | -€557 | -0.1% |
| Tangible fixed assets | 22/27 | €466,851 | €466,294 | -€557 | -0.1% |
| Land and buildings | 22 | €425,401 | €410,524 | -€14,876 | -3.5% |
| Plant, machinery and equipment | 23 | €3,656 | €1,199 | -€2,456 | -67.2% |
| Furniture and vehicles | 24 | €831 | €355 | -€476 | -57.2% |
| Other tangible fixed assets | 26 | €36,964 | €54,215 | +€17,251 | +46.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €379,415 | €365,346 | -€14,069 | -3.7% |
| Stocks and contracts in progress | 3 | €42,858 | €42,858 | = | 0.0% |
| Stocks | 30/36 | €42,858 | €42,858 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,976 | €42,616 | +€2,640 | +6.6% |
| Trade receivables | 40 | €39,110 | €16,470 | -€22,641 | -57.9% |
| Other amounts receivable | 41 | €866 | €26,146 | +€25,281 | +2920.6% |
| Cash at bank and in hand | 54/58 | €295,034 | €276,149 | -€18,885 | -6.4% |
| Deferred charges and accrued income | 490/1 | €1,547 | €3,723 | +€2,176 | +140.7% |
| Total equity and liabilities | 10/49 | €846,316 | €831,690 | -€14,627 | -1.7% |
| Equity | 10/15 | €423,891 | €496,367 | +€72,476 | +17.1% |
| Reserves | 13 | €378,940 | €450,940 | +€72,000 | +19.0% |
| Distributable reserves | 133 | €378,940 | €450,940 | +€72,000 | +19.0% |
| Profit (loss) carried forward | 14 | €30,776 | €31,777 | +€1,001 | +3.3% |
| Investment grants | 15 | €14,175 | €13,650 | -€525 | -3.7% |
| Provisions and deferred taxes | 16 | €4,725 | €4,550 | -€175 | -3.7% |
| Deferred taxes | 168 | €4,725 | €4,550 | -€175 | -3.7% |
| Amounts payable | 17/49 | €417,700 | €330,772 | -€86,928 | -20.8% |
| Amounts payable after more than one year | 17 | €290,938 | €266,464 | -€24,474 | -8.4% |
| Financial debts | 170/4 | €290,938 | €266,464 | -€24,474 | -8.4% |
| Amounts payable within one year | 42/48 | €126,762 | €63,348 | -€63,414 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €31,092 | €24,474 | -€6,618 | -21.3% |
| Trade debts | 44 | €46,835 | €28,529 | -€18,305 | -39.1% |
| Suppliers | 440/4 | €46,835 | €28,529 | -€18,305 | -39.1% |
| Taxes, remuneration and social security | 45 | €24,585 | €10,345 | -€14,240 | -57.9% |
| Taxes | 450/3 | €11,890 | €0 | -€11,890 | -100.0% |
| Remuneration and social security | 454/9 | €12,695 | €10,345 | -€2,350 | -18.5% |
| Other amounts payable | 47/48 | €24,250 | - | -€24,250 | |
| Accrued charges and deferred income | 492/3 | - | €960 | +€960 | |
| Remuneration, social security and pensions | 62 | €122,747 | €123,910 | +€1,163 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,052 | €28,258 | -€3,793 | -11.8% |
| Other operating charges | 640/8 | €3,086 | €3,186 | +€100 | +3.2% |
| Gross operating margin | 9900 | €290,048 | €299,852 | +€9,804 | +3.4% |
| Operating profit (loss) | 9901 | €132,164 | €144,498 | +€12,334 | +9.3% |
| Financial income | 75/76B | €5,655 | €4,881 | -€774 | -13.7% |
| Recurring financial income | 75 | €5,655 | €4,881 | -€774 | -13.7% |
| Financial charges | 65/66B | €10,665 | €10,649 | -€17 | -0.2% |
| Recurring financial charges | 65 | €10,665 | €10,649 | -€17 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €127,153 | €138,730 | +€11,577 | +9.1% |
| Transfer from deferred taxes | 780 | €175 | €175 | = | 0.0% |
| Income taxes | 67/77 | €37,192 | €40,904 | +€3,712 | +10.0% |
| Profit (loss) for the period | 9904 | €90,137 | €98,001 | +€7,865 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,137 | €98,001 | +€7,865 | +8.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.