NEW AZUGENA: what changed
NEW AZUGENA
Largest movements
- Cash +€64,997
up €64,997 (+578%), from €11,236 to €76,233
mainly Depreciation (+€107,110) and Trade debts (+€55,111)
- Tangible fixed assets -€35,291
down €35,291 (-13.9%), from €254,120 to €218,829
of which Plant, machinery and equipment: -€50,780
- Receivables within one year +€26,008
up €26,008 (+5.1%), from €505,094 to €531,102
of which Trade receivables: +€14,866
- Trade debts +€55,111
up €55,111 (+20.0%), from €276,110 to €331,221
- Reserves +€45,790
up €45,790 (+12.8%), from €357,855 to €403,645
- Tax, wage and social debts -€29,925
down €29,925 (-26.6%), from €112,439 to €82,514
of which Taxes: -€33,605
- Current portion of long-term debt -€9,621
down €9,621 (-100%), from €9,621 to €0
- Gross operating margin +€70,317
up €70,317 (+18.5%), from €379,869 to €450,186
- Staff costs +€47,261
up €47,261 (+21.1%), from €224,200 to €271,460
- Taxes -€17,530
down €17,530 (-44.1%), from €39,789 to €22,259
- Depreciation +€9,383
up €9,383 (+9.6%), from €97,727 to €107,110
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €774,625 | €835,980 | +€61,354 | +7.9% |
| Fixed assets | 21/28 | €254,120 | €218,829 | -€35,291 | -13.9% |
| Tangible fixed assets | 22/27 | €254,120 | €218,829 | -€35,291 | -13.9% |
| Land and buildings | 22 | €94,147 | €72,868 | -€21,280 | -22.6% |
| Plant, machinery and equipment | 23 | €97,977 | €47,197 | -€50,780 | -51.8% |
| Furniture and vehicles | 24 | €61,996 | €41,862 | -€20,134 | -32.5% |
| Other tangible fixed assets | 26 | - | €56,903 | +€56,903 | |
| Current assets | 29/58 | €520,505 | €617,151 | +€96,645 | +18.6% |
| Stocks and contracts in progress | 3 | €4,176 | €9,816 | +€5,640 | +135% |
| Stocks | 30/36 | €4,176 | €9,816 | +€5,640 | +135% |
| Amounts receivable within one year | 40/41 | €505,094 | €531,102 | +€26,008 | +5.1% |
| Trade receivables | 40 | €315,222 | €330,088 | +€14,866 | +4.7% |
| Other amounts receivable | 41 | €189,872 | €201,014 | +€11,142 | +5.9% |
| Cash at bank and in hand | 54/58 | €11,236 | €76,233 | +€64,997 | +578% |
| Total equity and liabilities | 10/49 | €774,625 | €835,980 | +€61,354 | +7.9% |
| Equity | 10/15 | €376,455 | €422,245 | +€45,790 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €357,855 | €403,645 | +€45,790 | +12.8% |
| Distributable reserves | 133 | €357,855 | €403,645 | +€45,790 | +12.8% |
| Amounts payable | 17/49 | €398,170 | €413,735 | +€15,565 | +3.9% |
| Amounts payable within one year | 42/48 | €398,170 | €413,735 | +€15,565 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €9,621 | €0 | -€9,621 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €276,110 | €331,221 | +€55,111 | +20.0% |
| Suppliers | 440/4 | €276,110 | €331,221 | +€55,111 | +20.0% |
| Taxes, remuneration and social security | 45 | €112,439 | €82,514 | -€29,925 | -26.6% |
| Taxes | 450/3 | €98,870 | €65,265 | -€33,605 | -34.0% |
| Remuneration and social security | 454/9 | €13,569 | €17,249 | +€3,681 | +27.1% |
| Remuneration, social security and pensions | 62 | €224,200 | €271,460 | +€47,261 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,727 | €107,110 | +€9,383 | +9.6% |
| Other operating charges | 640/8 | €8,816 | €9,578 | +€762 | +8.6% |
| Gross operating margin | 9900 | €379,869 | €450,186 | +€70,317 | +18.5% |
| Operating profit (loss) | 9901 | €49,126 | €62,037 | +€12,911 | +26.3% |
| Financial income | 75/76B | €8,442 | €10,903 | +€2,461 | +29.2% |
| Recurring financial income | 75 | €8,442 | €10,903 | +€2,461 | +29.2% |
| Financial charges | 65/66B | €3,616 | €4,893 | +€1,277 | +35.3% |
| Recurring financial charges | 65 | €3,616 | €4,893 | +€1,277 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €53,953 | €68,048 | +€14,095 | +26.1% |
| Income taxes | 67/77 | €39,789 | €22,259 | -€17,530 | -44.1% |
| Profit (loss) for the period | 9904 | €14,164 | €45,790 | +€31,626 | +223% |
| Profit (loss) for the period to be appropriated | 9905 | €14,164 | €45,790 | +€31,626 | +223% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.