AZK 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.
AZK PARTNERS
Largest movements
- Receivables within one year -€78,652
down €78,652 (-32.0%), from €245,627 to €166,975
of which Trade receivables: -€89,004
- Cash +€25,877
up €25,877 (+490%), from €5,285 to €31,162
mainly Trade debts (+€88,877) and Receivables within one year (+€78,652)
- Tangible fixed assets -€2,815
down €2,815 (-31.5%), from €8,935 to €6,120
- Advances received -€125,240
down €125,240 (-88.0%), from €142,255 to €17,015
- Trade debts +€88,877
up €88,877 (+169%), from €52,483 to €141,361
- Tax, wage and social debts -€12,094
down €12,094 (-44.6%), from €27,102 to €15,008
of which Remuneration and social security: -€10,578
- Profit (loss) carried forward -€5,282
down €5,282 (-26.7%), from €19,767 to €14,484
- Gross operating margin +€25,009
up €25,009 (+28.2%), from €88,714 to €113,724
- Staff costs +€24,642
up €24,642 (+30.1%), from €81,899 to €106,541
- Depreciation +€2,595
up €2,595 (+111%), from €2,341 to €4,937
- Taxes +€2,245
new in 2025: €2,245
- Other operating charges +€2,105
up €2,105 (+110%), from €1,911 to €4,016
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 | €259,847 | €206,268 | -€53,579 | -20.6% |
| Fixed assets | 21/28 | €8,935 | €6,120 | -€2,815 | -31.5% |
| Tangible fixed assets | 22/27 | €8,935 | €6,120 | -€2,815 | -31.5% |
| Furniture and vehicles | 24 | €8,935 | €6,120 | -€2,815 | -31.5% |
| Current assets | 29/58 | €250,912 | €200,148 | -€50,764 | -20.2% |
| Amounts receivable within one year | 40/41 | €245,627 | €166,975 | -€78,652 | -32.0% |
| Trade receivables | 40 | €238,325 | €149,321 | -€89,004 | -37.3% |
| Other amounts receivable | 41 | €7,302 | €17,654 | +€10,353 | +142% |
| Cash at bank and in hand | 54/58 | €5,285 | €31,162 | +€25,877 | +490% |
| Deferred charges and accrued income | 490/1 | - | €2,011 | +€2,011 | |
| Total equity and liabilities | 10/49 | €259,847 | €206,268 | -€53,579 | -20.6% |
| Equity | 10/15 | €38,007 | €32,725 | -€5,282 | -13.9% |
| Contributions | 10/11 | €17,700 | €17,700 | = | 0.0% |
| Reserves | 13 | €540 | €540 | = | 0.0% |
| Non-distributable reserves | 130/1 | €540 | €540 | = | 0.0% |
| Reserves not available under the articles | 1311 | €540 | €540 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,767 | €14,484 | -€5,282 | -26.7% |
| Amounts payable | 17/49 | €221,840 | €173,543 | -€48,297 | -21.8% |
| Amounts payable within one year | 42/48 | €221,840 | €173,383 | -€48,457 | -21.8% |
| Trade debts | 44 | €52,483 | €141,361 | +€88,877 | +169% |
| Suppliers | 440/4 | €52,483 | €141,361 | +€88,877 | +169% |
| Advances received on contracts in progress | 46 | €142,255 | €17,015 | -€125,240 | -88.0% |
| Taxes, remuneration and social security | 45 | €27,102 | €15,008 | -€12,094 | -44.6% |
| Taxes | 450/3 | €6,778 | €5,262 | -€1,516 | -22.4% |
| Remuneration and social security | 454/9 | €20,324 | €9,745 | -€10,578 | -52.0% |
| Accrued charges and deferred income | 492/3 | - | €160 | +€160 | |
| Remuneration, social security and pensions | 62 | €81,899 | €106,541 | +€24,642 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,341 | €4,937 | +€2,595 | +111% |
| Other operating charges | 640/8 | €1,911 | €4,016 | +€2,105 | +110% |
| Gross operating margin | 9900 | €88,714 | €113,724 | +€25,009 | +28.2% |
| Operating profit (loss) | 9901 | €2,563 | -€1,770 | -€4,332 | |
| Financial income | 75/76B | €0 | €481 | +€481 | +4,810,900% |
| Recurring financial income | 75 | €0 | €481 | +€481 | +4,810,900% |
| Financial charges | 65/66B | €1,041 | €1,749 | +€708 | +68.0% |
| Recurring financial charges | 65 | €1,041 | €1,749 | +€708 | +68.0% |
| Profit (loss) for the period before taxes | 9903 | €1,522 | -€3,037 | -€4,559 | |
| Income taxes | 67/77 | - | €2,245 | +€2,245 | |
| Profit (loss) for the period | 9904 | €1,522 | -€5,282 | -€6,804 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,522 | -€5,282 | -€6,804 |
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 20 October 2026 via checked.be.