ANDAZ 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.
ANDAZ PARTNERS
Largest movements
- Receivables within one year -€232,168
down €232,168 (-14.7%), from €1.6m to €1.3m
of which Trade receivables: -€149,110
- Tangible fixed assets -€40,685
down €40,685 (-6.7%), from €603,390 to €562,705
of which Land and buildings: -€31,393
- Receivables after one year -€25,000
no longer reported in 2025 (was €25,000)
- Reserves -€402,710
down €402,710 (-83.9%), from €479,890 to €77,180
- Other debts +€150,305
up €150,305 (+11.1%), from €1.3m to €1.5m
- Trade debts -€48,256
down €48,256 (-57.2%), from €84,342 to €36,087
- Tax, wage and social debts +€46,876
up €46,876 (+501%), from €9,362 to €56,238
- Debts after one year -€39,751
down €39,751 (-18.0%), from €220,816 to €181,065
- Financial income +€21,491
up €21,491 (+1,246%), from €1,725 to €23,216
- Financial charges +€17,837
up €17,837 (+222%), from €8,020 to €25,857
- Depreciation -€14,891
down €14,891 (-25.8%), from €57,712 to €42,821
- Other operating charges +€12,795
up €12,795 (+578%), from €2,215 to €15,010
- Gross operating margin -€4,386
down €4,386 (-36.1%), from €12,148 to €7,761
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 | €2,209,518 | €1,911,497 | -€298,021 | -13.5% |
| Fixed assets | 21/28 | €605,390 | €563,705 | -€41,685 | -6.9% |
| Tangible fixed assets | 22/27 | €603,390 | €562,705 | -€40,685 | -6.7% |
| Land and buildings | 22 | €582,710 | €551,316 | -€31,393 | -5.4% |
| Plant, machinery and equipment | 23 | €4,647 | €3,487 | -€1,161 | -25.0% |
| Furniture and vehicles | 24 | €16,033 | €7,902 | -€8,131 | -50.7% |
| Financial fixed assets | 28 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Current assets | 29/58 | €1,604,129 | €1,347,792 | -€256,336 | -16.0% |
| Amounts receivable after more than one year | 29 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €1,574,483 | €1,342,315 | -€232,168 | -14.7% |
| Trade receivables | 40 | €150,781 | €1,671 | -€149,110 | -98.9% |
| Other amounts receivable | 41 | €1,423,702 | €1,340,644 | -€83,057 | -5.8% |
| Cash at bank and in hand | 54/58 | €1,507 | €2,266 | +€759 | +50.4% |
| Deferred charges and accrued income | 490/1 | €3,139 | €3,211 | +€72 | +2.3% |
| Total equity and liabilities | 10/49 | €2,209,518 | €1,911,497 | -€298,021 | -13.5% |
| Equity | 10/15 | €498,490 | €95,780 | -€402,710 | -80.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €479,890 | €77,180 | -€402,710 | -83.9% |
| Distributable reserves | 133 | €479,890 | €77,180 | -€402,710 | -83.9% |
| Amounts payable | 17/49 | €1,711,028 | €1,815,717 | +€104,689 | +6.1% |
| Amounts payable after more than one year | 17 | €220,816 | €181,065 | -€39,751 | -18.0% |
| Financial debts | 170/4 | €220,816 | €181,065 | -€39,751 | -18.0% |
| Amounts payable within one year | 42/48 | €1,490,213 | €1,634,653 | +€144,440 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €46,684 | €42,198 | -€4,486 | -9.6% |
| Trade debts | 44 | €84,342 | €36,087 | -€48,256 | -57.2% |
| Suppliers | 440/4 | €84,342 | €36,087 | -€48,256 | -57.2% |
| Taxes, remuneration and social security | 45 | €9,362 | €56,238 | +€46,876 | +501% |
| Taxes | 450/3 | €9,362 | €56,238 | +€46,876 | +501% |
| Other amounts payable | 47/48 | €1,349,825 | €1,500,130 | +€150,305 | +11.1% |
| Non-recurring operating income | 76A | €6,638 | - | -€6,638 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,712 | €42,821 | -€14,891 | -25.8% |
| Other operating charges | 640/8 | €2,215 | €15,010 | +€12,795 | +578% |
| Non-recurring operating charges | 66A | €18,543 | - | -€18,543 | |
| Gross operating margin | 9900 | €12,148 | €7,761 | -€4,386 | -36.1% |
| Operating profit (loss) | 9901 | -€66,322 | -€50,069 | +€16,253 | +24.5% |
| Financial income | 75/76B | €1,725 | €23,216 | +€21,491 | +1,246% |
| Recurring financial income | 75 | €1,725 | €23,216 | +€21,491 | +1,246% |
| Financial charges | 65/66B | €8,020 | €25,857 | +€17,837 | +222% |
| Recurring financial charges | 65 | €8,020 | €25,857 | +€17,837 | +222% |
| Profit (loss) for the period before taxes | 9903 | -€72,617 | -€52,710 | +€19,907 | +27.4% |
| Income taxes | 67/77 | €2,661 | - | -€2,661 | |
| Profit (loss) for the period | 9904 | -€75,278 | -€52,710 | +€22,568 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,278 | -€52,710 | +€22,568 | +30.0% |
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 27 October 2026 via checked.be.