A2Z Private Capital: 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.
A2Z Private Capital
Largest movements
- Tangible fixed assets +€341,128
up €341,128 (+22.8%), from €1.5m to €1.8m
of which Land and buildings: +€352,337
- Other debts +€416,767
up €416,767 (+47.0%), from €887,152 to €1.3m
- Debts after one year -€45,295
down €45,295 (-7.5%), from €607,037 to €561,742
- Trade debts -€28,871
down €28,871 (-79.0%), from €36,529 to €7,658
- Profit (loss) carried forward -€22,510
down €22,510 (-36.6%), from -€61,569 to -€84,079
- Gross operating margin +€40,323
up €40,323 (+72.0%), from €55,966 to €96,289
- Depreciation +€29,581
up €29,581 (+43.3%), from €68,271 to €97,852
- Other operating charges -€1,742
down €1,742 (-29.5%), from €5,906 to €4,164
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 | €1,542,819 | €1,865,380 | +€322,561 | +20.9% |
| Fixed assets | 21/28 | €1,495,579 | €1,836,707 | +€341,128 | +22.8% |
| Tangible fixed assets | 22/27 | €1,495,579 | €1,836,707 | +€341,128 | +22.8% |
| Land and buildings | 22 | €1,484,371 | €1,836,707 | +€352,337 | +23.7% |
| Furniture and vehicles | 24 | €1,603 | - | -€1,603 | |
| Assets under construction and advance payments | 27 | €9,606 | - | -€9,606 | |
| Current assets | 29/58 | €47,240 | €28,673 | -€18,566 | -39.3% |
| Amounts receivable within one year | 40/41 | €25,671 | €18,107 | -€7,564 | -29.5% |
| Trade receivables | 40 | €25,227 | €18,107 | -€7,120 | -28.2% |
| Other amounts receivable | 41 | €445 | - | -€445 | |
| Cash at bank and in hand | 54/58 | €20,926 | €9,922 | -€11,004 | -52.6% |
| Deferred charges and accrued income | 490/1 | €643 | €644 | +€2 | +0.3% |
| Total equity and liabilities | 10/49 | €1,542,819 | €1,865,380 | +€322,561 | +20.9% |
| Equity | 10/15 | -€36,569 | -€59,079 | -€22,510 | -61.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,569 | -€84,079 | -€22,510 | -36.6% |
| Amounts payable | 17/49 | €1,579,388 | €1,924,459 | +€345,071 | +21.8% |
| Amounts payable after more than one year | 17 | €607,037 | €561,742 | -€45,295 | -7.5% |
| Financial debts | 170/4 | €607,037 | €561,742 | -€45,295 | -7.5% |
| Amounts payable within one year | 42/48 | €972,351 | €1,362,718 | +€390,366 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | €44,163 | €45,295 | +€1,133 | +2.6% |
| Trade debts | 44 | €36,529 | €7,658 | -€28,871 | -79.0% |
| Suppliers | 440/4 | €36,529 | €7,658 | -€28,871 | -79.0% |
| Taxes, remuneration and social security | 45 | €4,508 | €5,846 | +€1,338 | +29.7% |
| Taxes | 450/3 | €4,508 | €5,846 | +€1,338 | +29.7% |
| Other amounts payable | 47/48 | €887,152 | €1,303,919 | +€416,767 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,271 | €97,852 | +€29,581 | +43.3% |
| Other operating charges | 640/8 | €5,906 | €4,164 | -€1,742 | -29.5% |
| Non-recurring operating charges | 66A | €3,665 | - | -€3,665 | |
| Gross operating margin | 9900 | €55,966 | €96,289 | +€40,323 | +72.0% |
| Operating profit (loss) | 9901 | -€21,876 | -€5,727 | +€16,149 | +73.8% |
| Financial charges | 65/66B | €17,487 | €16,782 | -€704 | -4.0% |
| Recurring financial charges | 65 | €17,487 | €16,782 | -€704 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€39,363 | -€22,510 | +€16,853 | +42.8% |
| Profit (loss) for the period | 9904 | -€39,363 | -€22,510 | +€16,853 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,363 | -€22,510 | +€16,853 | +42.8% |
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 29 October 2026 via checked.be.