Puerta Azul: 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.
Puerta Azul
Largest movements
- Receivables within one year +€34,232
up €34,232 (+1,853%), from €1,847 to €36,079
of which Other amounts receivable: +€36,079
- Intangible fixed assets -€20,263
no longer reported in 2025 (was €20,263)
- Tangible fixed assets +€4,285
up €4,285 (+422%), from €1,015 to €5,300
of which Furniture and vehicles: +€2,581
- Deferred charges and accrued income -€2,600
no longer reported in 2025 (was €2,600)
- Profit (loss) carried forward +€15,467
up €15,467 (+63.0%), from -€24,531 to -€9,065
- Other debts -€14,597
no longer reported in 2025 (was €14,597)
- Accrued charges and deferred income +€7,800
new in 2025: €7,800
- Current portion of long-term debt +€4,839
new in 2025: €4,839
- Debts after one year +€4,195
new in 2025: €4,195
- Gross operating margin +€43,166
up €43,166, from -€2,402 to €40,765
- Staff costs -€9,022
no longer reported in 2025 (was €9,022)
- Depreciation -€8,927
down €8,927 (-88.2%), from €10,124 to €1,197
- Other operating charges +€763
up €763 (+40.5%), from €1,881 to €2,644
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 | €28,182 | €43,903 | +€15,721 | +55.8% |
| Fixed assets | 21/28 | €21,278 | €5,300 | -€15,978 | -75.1% |
| Intangible fixed assets | 21 | €20,263 | - | -€20,263 | |
| Tangible fixed assets | 22/27 | €1,015 | €5,300 | +€4,285 | +422% |
| Plant, machinery and equipment | 23 | €1,015 | €2,719 | +€1,704 | +168% |
| Furniture and vehicles | 24 | - | €2,581 | +€2,581 | |
| Current assets | 29/58 | €6,904 | €38,603 | +€31,699 | +459% |
| Amounts receivable within one year | 40/41 | €1,847 | €36,079 | +€34,232 | +1,853% |
| Trade receivables | 40 | €1,847 | - | -€1,847 | |
| Other amounts receivable | 41 | - | €36,079 | +€36,079 | |
| Cash at bank and in hand | 54/58 | €2,456 | €2,524 | +€67 | +2.7% |
| Deferred charges and accrued income | 490/1 | €2,600 | - | -€2,600 | |
| Total equity and liabilities | 10/49 | €28,182 | €43,903 | +€15,721 | +55.8% |
| Equity | 10/15 | €5,469 | €20,935 | +€15,467 | +283% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,531 | -€9,065 | +€15,467 | +63.0% |
| Amounts payable | 17/49 | €22,713 | €22,968 | +€254 | +1.1% |
| Amounts payable after more than one year | 17 | - | €4,195 | +€4,195 | |
| Financial debts | 170/4 | - | €4,195 | +€4,195 | |
| Amounts payable within one year | 42/48 | €22,713 | €10,973 | -€11,740 | -51.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,839 | +€4,839 | |
| Trade debts | 44 | €5,877 | €5,498 | -€379 | -6.5% |
| Suppliers | 440/4 | €5,877 | €5,498 | -€379 | -6.5% |
| Taxes, remuneration and social security | 45 | €2,239 | €636 | -€1,603 | -71.6% |
| Taxes | 450/3 | €2,239 | €636 | -€1,603 | -71.6% |
| Other amounts payable | 47/48 | €14,597 | - | -€14,597 | |
| Accrued charges and deferred income | 492/3 | - | €7,800 | +€7,800 | |
| Remuneration, social security and pensions | 62 | €9,022 | - | -€9,022 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,124 | €1,197 | -€8,927 | -88.2% |
| Other operating charges | 640/8 | €1,881 | €2,644 | +€763 | +40.5% |
| Non-recurring operating charges | 66A | - | €20,263 | +€20,263 | |
| Gross operating margin | 9900 | -€2,402 | €40,765 | +€43,166 | |
| Operating profit (loss) | 9901 | -€23,429 | €16,661 | +€40,090 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €1,107 | €1,194 | +€87 | +7.8% |
| Recurring financial charges | 65 | €1,107 | €1,194 | +€87 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,531 | €15,467 | +€39,998 | |
| Profit (loss) for the period | 9904 | -€24,531 | €15,467 | +€39,998 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,531 | €15,467 | +€39,998 |
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.