AZORG: 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.
What changed
AZORG
NACE 66.191, Agents and brokers in banking services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€40,455
2024 · -€11,749+€52,204
Equity
€211,983
2024 · €171,528+€40,455
Cash
€2,507
2024 · -+€2,507
Balance sheet total
€466,409
2024 · €688,176-€221,767
Largest movements
Assets
- Intangible fixed assets -€204,247
no longer reported in 2025 (was €204,247)
- Tangible fixed assets -€20,354
down €20,354 (-6.7%), from €302,948 to €282,595
Equity and liabilities
- Debts after one year -€161,533
down €161,533 (-44.9%), from €359,470 to €197,937
- Current portion of long-term debt -€56,822
down €56,822 (-75.7%), from €75,106 to €18,284
- Short-term financial debts -€30,000
no longer reported in 2025 (was €30,000)
- Profit (loss) carried forward +€24,890
up €24,890 (+14.7%), from €169,528 to €194,418
- Reserves +€15,565
new in 2025: €15,565
Income statement
- Staff costs -€51,169
down €51,169, from €47,253 to -€3,916
- Depreciation -€25,444
down €25,444 (-56.6%), from €44,982 to €19,537
- Taxes +€10,785
up €10,785 (+778%), from €1,387 to €12,172
- Gross operating margin -€8,697
down €8,697 (-8.3%), from €104,162 to €95,465
- Other operating charges -€7,606
down €7,606 (-85.8%), from €8,862 to €1,256
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.
Result 2024
-€11,749
Gross operating margin
-€8,697
Staff costs
+€51,169
Depreciation
+€25,444
Other operating charges
+€7,606
Financial income
-€2
Financial charges
-€7,342
Taxes
-€10,785
Deferred taxes and other
-€5,188
Result 2025
€40,455
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€45,799
Investment
+€205,063
Financing
-€248,355
Cash 2024
€0
From operations (derived)
+€45,799
Net result for the year
+€40,455
Depreciation
+€19,537
Receivables within one year
-€814
Deferred charges and accrued income
+€488
Provisions
+€5,188
Trade debts
-€10,038
Tax, wage and social debts
-€10,018
Accrued charges and deferred income
+€1,000
Investment (derived)
+€205,063
Investment in fixed assets (net)
+€205,063
Financing
-€248,355
Debts after one year
-€161,533
Current portion of long-term debt
-€56,822
Short-term financial debts
-€30,000
Cash 2025
€2,507
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €688,176 | €466,409 | -€221,767 | -32.2% |
| Fixed assets | 21/28 | €507,195 | €282,595 | -€224,600 | -44.3% |
| Intangible fixed assets | 21 | €204,247 | - | -€204,247 | |
| Tangible fixed assets | 22/27 | €302,948 | €282,595 | -€20,354 | -6.7% |
| Land and buildings | 22 | €268,843 | €261,828 | -€7,014 | -2.6% |
| Plant, machinery and equipment | 23 | €12,154 | €8,948 | -€3,206 | -26.4% |
| Furniture and vehicles | 24 | €21,952 | €11,818 | -€10,133 | -46.2% |
| Current assets | 29/58 | €180,981 | €183,814 | +€2,833 | +1.6% |
| Amounts receivable within one year | 40/41 | €180,328 | €181,141 | +€814 | +0.5% |
| Other amounts receivable | 41 | €180,328 | €181,141 | +€814 | +0.5% |
| Cash at bank and in hand | 54/58 | - | €2,507 | +€2,507 | |
| Deferred charges and accrued income | 490/1 | €654 | €166 | -€488 | -74.6% |
| Total equity and liabilities | 10/49 | €688,176 | €466,409 | -€221,767 | -32.2% |
| Equity | 10/15 | €171,528 | €211,983 | +€40,455 | +23.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €15,565 | +€15,565 | |
| Tax-exempt reserves | 132 | - | €15,565 | +€15,565 | |
| Profit (loss) carried forward | 14 | €169,528 | €194,418 | +€24,890 | +14.7% |
| Provisions and deferred taxes | 16 | - | €5,188 | +€5,188 | |
| Deferred taxes | 168 | - | €5,188 | +€5,188 | |
| Amounts payable | 17/49 | €516,649 | €249,238 | -€267,411 | -51.8% |
| Amounts payable after more than one year | 17 | €359,470 | €197,937 | -€161,533 | -44.9% |
| Financial debts | 170/4 | €359,470 | €197,937 | -€161,533 | -44.9% |
| Amounts payable within one year | 42/48 | €157,178 | €50,301 | -€106,878 | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €75,106 | €18,284 | -€56,822 | -75.7% |
| Financial debts | 43 | €30,000 | - | -€30,000 | |
| Credit institutions | 430/8 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €11,544 | €1,507 | -€10,038 | -86.9% |
| Suppliers | 440/4 | €11,544 | €1,507 | -€10,038 | -86.9% |
| Taxes, remuneration and social security | 45 | €25,528 | €15,510 | -€10,018 | -39.2% |
| Taxes | 450/3 | €10,135 | €15,510 | +€5,375 | +53.0% |
| Remuneration and social security | 454/9 | €15,393 | - | -€15,393 | |
| Other amounts payable | 47/48 | €15,000 | €15,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €47,253 | -€3,916 | -€51,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,982 | €19,537 | -€25,444 | -56.6% |
| Other operating charges | 640/8 | €8,862 | €1,256 | -€7,606 | -85.8% |
| Gross operating margin | 9900 | €104,162 | €95,465 | -€8,697 | -8.3% |
| Operating profit (loss) | 9901 | €3,065 | €78,587 | +€75,522 | +2,464% |
| Financial income | 75/76B | €2 | €0 | -€2 | -96.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -96.5% |
| Financial charges | 65/66B | €13,429 | €20,772 | +€7,342 | +54.7% |
| Recurring financial charges | 65 | €13,429 | €20,772 | +€7,342 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,362 | €57,815 | +€68,178 | |
| Transfer to deferred taxes | 680 | - | €5,188 | +€5,188 | |
| Income taxes | 67/77 | €1,387 | €12,172 | +€10,785 | +778% |
| Profit (loss) for the period | 9904 | -€11,749 | €40,455 | +€52,204 | |
| Transfer to tax-exempt reserves | 689 | - | €15,565 | +€15,565 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,749 | €24,890 | +€36,639 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.