Azat Elevator, tied to the agribusiness of one of Kazakhstan's wealthiest entrepreneurs, Bakhtiyar Ospanov, more than doubled its revenue in 2025. However, the enterprise remained loss-making for the second consecutive year, with liabilities exceeding assets by more than twofold, reports infohub.kz.
According to the audited financial statements published on the website of the Financial Reporting Depository, the elevator's revenue for 2025 amounted to 1.135 billion tenge, up from 563 million tenge a year earlier. Almost all income came from the elevator business itself: grain reception, drying, storage, shipment, and processing brought in 1.134 billion tenge (in 2024 – 538.1 million tenge).
Cost of sales also rose to 1.071 billion tenge from 515.8 million tenge. Gross profit increased from 47.2 million to 64.7 million tenge. However, administrative expenses more than doubled: from 139.2 million to 294.2 million tenge. In particular, payroll and related taxes reached 117.4 million tenge, banking services cost 84.5 million tenge, and fines and penalties – 28.2 million tenge.
The operating loss amounted to 285.5 million tenge, whereas a year earlier it was significantly higher – 1.462 billion tenge. The company's net loss shrank almost sixfold: from 5.766 billion tenge in 2024 to 1.007 billion tenge in 2025. A key factor continuing to weigh on results remains financial expenses: in 2025 they totaled 1.916 billion tenge, while financial income was 1.164 billion tenge (a year earlier – 4.842 billion and 533.3 million tenge, respectively).
Accumulated uncovered loss by the end of 2025 grew to 10.672 billion tenge (a year earlier – 9.665 billion tenge), and equity remained negative: minus 10.672 billion tenge. The enterprise's liabilities reached 19.28 billion tenge against 16.29 billion tenge a year earlier, while assets were valued at 8.61 billion tenge (in 2024 – 6.63 billion tenge).
The bulk of debts are loans: their carrying amount as of December 31, 2025, was 16.803 billion tenge, of which 14.99 billion tenge were long-term liabilities and 1.813 billion tenge were the current portion of loans. In January 2025, the company signed a framework agreement with Agrarian Credit Corporation to open a credit line of 10.7 billion tenge to replenish working capital and fulfill monetary obligations to ADCB.
Azat Elevator is located in the Zerenda district of Akmola region. Its main activity is grain reception, weighing, drying, cleaning, storage, and shipment. At the end of 2025, the company employed an average of 87 people (a year earlier – 71). The sole participant of the enterprise is LLP "Collection Agency Agro Group Collection", with the ultimate controlling party being Bakhtiyar Ospanov.