HKAZAL: 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.
HKAZAL
Largest movements
- Deferred charges and accrued income +€408
new in 2025: €408
- Cash -€66
down €66 (-60.2%), from €109 to €43
mainly Deferred charges and accrued income (-€408) and Net result for the year (-€166)
- Other debts +€508
up €508 (+393%), from €129 to €637
- Profit (loss) carried forward -€166
down €166 (-1.0%), from -€16,620 to -€16,786
- Financial charges +€7
up €7 (+7.3%), from €93 to €100
- Gross operating margin -€2
down €2 (-3.0%), from -€64 to -€66
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 | €109 | €451 | +€342 | +314% |
| Current assets | 29/58 | €109 | €451 | +€342 | +314% |
| Cash at bank and in hand | 54/58 | €109 | €43 | -€66 | -60.2% |
| Deferred charges and accrued income | 490/1 | - | €408 | +€408 | |
| Total equity and liabilities | 10/49 | €109 | €451 | +€342 | +314% |
| Equity | 10/15 | -€20 | -€186 | -€166 | -811% |
| Contributions | 10/11 | €16,600 | €16,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,620 | -€16,786 | -€166 | -1.0% |
| Amounts payable | 17/49 | €129 | €637 | +€508 | +393% |
| Amounts payable within one year | 42/48 | €129 | €637 | +€508 | +393% |
| Other amounts payable | 47/48 | €129 | €637 | +€508 | +393% |
| Gross operating margin | 9900 | -€64 | -€66 | -€2 | -3.0% |
| Operating profit (loss) | 9901 | -€64 | -€66 | -€2 | -3.0% |
| Financial charges | 65/66B | €93 | €100 | +€7 | +7.3% |
| Recurring financial charges | 65 | €93 | €100 | +€7 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€157 | -€166 | -€9 | -5.6% |
| Profit (loss) for the period | 9904 | -€157 | -€166 | -€9 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€157 | -€166 | -€9 | -5.6% |
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 25 October 2026 via checked.be.