PATRIMONIALE AZUR: what changed
PATRIMONIALE AZUR
Largest movements
- Tangible fixed assets +€59,360
up €59,360 (+6.3%), from €947,431 to €1.0m
of which Land and buildings: +€424,013
- Receivables within one year -€28,187
down €28,187 (-98.0%), from €28,755 to €568
of which Trade receivables: -€26,959
- Cash -€17,402
down €17,402 (-20.3%), from €85,849 to €68,447
mainly Investment in fixed assets (net) (-€102,930) and Net result for the year (-€70,462)
- Other debts +€81,051
up €81,051 (+29.5%), from €274,368 to €355,419
- Profit (loss) carried forward -€70,462
down €70,462 (-21.0%), from -€334,868 to -€405,330
- Depreciation +€10,213
up €10,213 (+30.6%), from €33,358 to €43,570
- Gross operating margin -€7,135
down €7,135 (-43.2%), from €16,517 to €9,382
- Other operating charges -€3,061
down €3,061 (-10.7%), from €28,645 to €25,584
- Financial charges -€1,602
down €1,602 (-13.0%), from €12,291 to €10,689
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 | €1,279,191 | €1,290,544 | +€11,353 | +0.9% |
| Fixed assets | 21/28 | €947,431 | €1,006,791 | +€59,360 | +6.3% |
| Tangible fixed assets | 22/27 | €947,431 | €1,006,791 | +€59,360 | +6.3% |
| Land and buildings | 22 | €582,419 | €1,006,432 | +€424,013 | +72.8% |
| Furniture and vehicles | 24 | €763 | €358 | -€404 | -53.0% |
| Assets under construction and advance payments | 27 | €364,249 | - | -€364,249 | |
| Current assets | 29/58 | €331,760 | €283,753 | -€48,007 | -14.5% |
| Stocks and contracts in progress | 3 | €213,887 | €208,386 | -€5,501 | -2.6% |
| Stocks | 30/36 | €213,887 | €208,386 | -€5,501 | -2.6% |
| Amounts receivable within one year | 40/41 | €28,755 | €568 | -€28,187 | -98.0% |
| Trade receivables | 40 | €26,967 | €8 | -€26,959 | -100.0% |
| Other amounts receivable | 41 | €1,788 | €560 | -€1,228 | -68.7% |
| Cash at bank and in hand | 54/58 | €85,849 | €68,447 | -€17,402 | -20.3% |
| Deferred charges and accrued income | 490/1 | €3,269 | €6,353 | +€3,084 | +94.3% |
| Total equity and liabilities | 10/49 | €1,279,191 | €1,290,544 | +€11,353 | +0.9% |
| Equity | 10/15 | €120,782 | €50,320 | -€70,462 | -58.3% |
| Contributions | 10/11 | €455,000 | €455,000 | = | 0.0% |
| Reserves | 13 | €650 | €650 | = | 0.0% |
| Distributable reserves | 133 | €650 | €650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€334,868 | -€405,330 | -€70,462 | -21.0% |
| Amounts payable | 17/49 | €1,158,409 | €1,240,224 | +€81,814 | +7.1% |
| Amounts payable after more than one year | 17 | €871,420 | €862,498 | -€8,922 | -1.0% |
| Financial debts | 170/4 | €21,094 | €17,719 | -€3,375 | -16.0% |
| Other amounts payable | 178/9 | €850,326 | €844,779 | -€5,547 | -0.7% |
| Amounts payable within one year | 42/48 | €286,946 | €377,726 | +€90,779 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €3,375 | €3,375 | = | 0.0% |
| Trade debts | 44 | €5,372 | €13,772 | +€8,400 | +156% |
| Suppliers | 440/4 | €5,372 | €13,772 | +€8,400 | +156% |
| Taxes, remuneration and social security | 45 | €3,831 | €5,159 | +€1,328 | +34.6% |
| Taxes | 450/3 | €3,831 | €5,159 | +€1,328 | +34.6% |
| Other amounts payable | 47/48 | €274,368 | €355,419 | +€81,051 | +29.5% |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,358 | €43,570 | +€10,213 | +30.6% |
| Other operating charges | 640/8 | €28,645 | €25,584 | -€3,061 | -10.7% |
| Gross operating margin | 9900 | €16,517 | €9,382 | -€7,135 | -43.2% |
| Operating profit (loss) | 9901 | -€45,486 | -€59,772 | -€14,287 | -31.4% |
| Financial charges | 65/66B | €12,291 | €10,689 | -€1,602 | -13.0% |
| Recurring financial charges | 65 | €12,291 | €10,689 | -€1,602 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€57,776 | -€70,462 | -€12,685 | -22.0% |
| Profit (loss) for the period | 9904 | -€57,776 | -€70,462 | -€12,685 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,776 | -€70,462 | -€12,685 | -22.0% |
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 1 November 2026 via checked.be.