A² PARTNERS: 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.
A² PARTNERS
Largest movements
- Cash -€174,858
down €174,858 (-97.9%), from €178,669 to €3,811
mainly Advances received (-€72,666) and Net result for the year (-€66,523)
- Tangible fixed assets -€47,244
down €47,244 (-17.1%), from €276,323 to €229,079
- Receivables within one year +€11,121
up €11,121 (+25.3%), from €43,995 to €55,117
of which Trade receivables: +€8,821
- Deferred charges and accrued income -€6,549
no longer reported in 2025 (was €6,549)
- Advances received -€72,666
down €72,666 (-98.3%), from €73,900 to €1,234
- Profit (loss) carried forward -€66,523
down €66,523 (-309.9%), from -€21,469 to -€87,993
- Debts after one year -€28,112
down €28,112 (-44.8%), from €62,819 to €34,707
- Tax, wage and social debts -€24,010
down €24,010 (-95.5%), from €25,128 to €1,118
- Current portion of long-term debt -€15,472
down €15,472 (-35.5%), from €43,584 to €28,112
- Gross operating margin -€132,203
down €132,203, from €130,112 to -€2,091
- Staff costs -€76,105
no longer reported in 2025 (was €76,105)
- Depreciation -€8,807
down €8,807 (-15.1%), from €58,149 to €49,342
- Financial charges -€1,597
down €1,597 (-15.5%), from €10,301 to €8,705
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 | €513,544 | €294,630 | -€218,913 | -42.6% |
| Fixed assets | 21/28 | €280,523 | €233,279 | -€47,244 | -16.8% |
| Tangible fixed assets | 22/27 | €276,323 | €229,079 | -€47,244 | -17.1% |
| Land and buildings | 22 | €215,404 | €201,072 | -€14,331 | -6.7% |
| Plant, machinery and equipment | 23 | €14,078 | €7,265 | -€6,813 | -48.4% |
| Furniture and vehicles | 24 | €13,934 | €6,595 | -€7,340 | -52.7% |
| Other tangible fixed assets | 26 | €32,908 | €14,147 | -€18,761 | -57.0% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €233,020 | €61,351 | -€171,669 | -73.7% |
| Stocks and contracts in progress | 3 | €3,807 | €2,424 | -€1,383 | -36.3% |
| Stocks | 30/36 | €3,807 | €2,424 | -€1,383 | -36.3% |
| Amounts receivable within one year | 40/41 | €43,995 | €55,117 | +€11,121 | +25.3% |
| Trade receivables | 40 | €38,140 | €46,961 | +€8,821 | +23.1% |
| Other amounts receivable | 41 | €5,855 | €8,156 | +€2,301 | +39.3% |
| Cash at bank and in hand | 54/58 | €178,669 | €3,811 | -€174,858 | -97.9% |
| Deferred charges and accrued income | 490/1 | €6,549 | - | -€6,549 | |
| Total equity and liabilities | 10/49 | €513,544 | €294,630 | -€218,913 | -42.6% |
| Equity | 10/15 | €157,516 | €90,993 | -€66,523 | -42.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €172,785 | €172,785 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,580 | €2,580 | = | 0.0% |
| Distributable reserves | 133 | €168,345 | €168,345 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,469 | -€87,993 | -€66,523 | -309.9% |
| Amounts payable | 17/49 | €356,027 | €203,638 | -€152,390 | -42.8% |
| Amounts payable after more than one year | 17 | €62,819 | €34,707 | -€28,112 | -44.8% |
| Financial debts | 170/4 | €62,819 | €34,707 | -€28,112 | -44.8% |
| Amounts payable within one year | 42/48 | €293,208 | €168,821 | -€124,387 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €43,584 | €28,112 | -€15,472 | -35.5% |
| Financial debts | 43 | €20,000 | €20,000 | = | 0.0% |
| Credit institutions | 430/8 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €21,031 | €15,733 | -€5,297 | -25.2% |
| Suppliers | 440/4 | €21,031 | €15,733 | -€5,297 | -25.2% |
| Advances received on contracts in progress | 46 | €73,900 | €1,234 | -€72,666 | -98.3% |
| Taxes, remuneration and social security | 45 | €25,128 | €1,118 | -€24,010 | -95.5% |
| Taxes | 450/3 | €25,128 | €1,118 | -€24,010 | -95.5% |
| Other amounts payable | 47/48 | €109,565 | €102,623 | -€6,943 | -6.3% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Non-recurring operating income | 76A | €8,245 | €6,921 | -€1,324 | -16.1% |
| Remuneration, social security and pensions | 62 | €76,105 | - | -€76,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,149 | €49,342 | -€8,807 | -15.1% |
| Other operating charges | 640/8 | €7,152 | €5,871 | -€1,281 | -17.9% |
| Gross operating margin | 9900 | €130,112 | -€2,091 | -€132,203 | |
| Operating profit (loss) | 9901 | -€11,294 | -€57,303 | -€46,009 | -407.4% |
| Financial income | 75/76B | €584 | €28 | -€556 | -95.3% |
| Recurring financial income | 75 | €584 | €28 | -€556 | -95.3% |
| Financial charges | 65/66B | €10,301 | €8,705 | -€1,597 | -15.5% |
| Recurring financial charges | 65 | €10,301 | €8,705 | -€1,597 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | -€21,012 | -€65,980 | -€44,968 | -214.0% |
| Income taxes | 67/77 | €458 | €543 | +€85 | +18.6% |
| Profit (loss) for the period | 9904 | -€21,469 | -€66,523 | -€45,054 | -209.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,469 | -€66,523 | -€45,054 | -209.9% |
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 11 October 2026 via checked.be.