NABAZ: what changed
Two fiscal 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.
NABAZ
Largest movements
- Financial fixed assets +€250,800
up €250,800 (+122341.5%), from €205 to €251,005
- Cash -€189,263
down €189,263 (-81.1%), from €233,316 to €44,053
mainly Investment in fixed assets (net) (-€251,672) and Receivables after one year (-€54,500)
- Receivables after one year +€54,500
new in 2025: €54,500
- Stocks and contracts -€17,568
no longer reported in 2025 (was €17,568)
- Deferred charges and accrued income -€4,554
no longer reported in 2025 (was €4,554)
- Profit (loss) carried forward +€76,983
up €76,983 (+31.4%), from €244,957 to €321,939
- Tax, wage and social debts +€10,188
up €10,188 (+430.5%), from €2,367 to €12,555
of which Taxes: +€12,555
- Gross operating margin +€69,987
up €69,987 (+293.7%), from €23,831 to €93,818
- Financial charges -€18,554
down €18,554 (-98.7%), from €18,789 to €235
- Other operating charges -€17,298
down €17,298 (-86.4%), from €20,030 to €2,732
- Taxes +€12,555
new in 2025: €12,555
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.
Cash bridge derived
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 | €264,142 | €355,415 | +€91,273 | +34.6% |
| Fixed assets | 21/28 | €1,504 | €251,862 | +€250,358 | +16644.7% |
| Tangible fixed assets | 22/27 | €1,299 | €857 | -€442 | -34.0% |
| Furniture and vehicles | 24 | €1,299 | €857 | -€442 | -34.0% |
| Financial fixed assets | 28 | €205 | €251,005 | +€250,800 | +122341.5% |
| Current assets | 29/58 | €262,638 | €103,553 | -€159,085 | -60.6% |
| Amounts receivable after more than one year | 29 | - | €54,500 | +€54,500 | |
| Other amounts receivable | 291 | - | €54,500 | +€54,500 | |
| Stocks and contracts in progress | 3 | €17,568 | - | -€17,568 | |
| Stocks | 30/36 | €17,568 | - | -€17,568 | |
| Amounts receivable within one year | 40/41 | €7,200 | €5,000 | -€2,200 | -30.6% |
| Trade receivables | 40 | €2,200 | - | -€2,200 | |
| Other amounts receivable | 41 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €233,316 | €44,053 | -€189,263 | -81.1% |
| Deferred charges and accrued income | 490/1 | €4,554 | - | -€4,554 | |
| Total equity and liabilities | 10/49 | €264,142 | €355,415 | +€91,273 | +34.6% |
| Equity | 10/15 | €259,957 | €336,939 | +€76,983 | +29.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €244,957 | €321,939 | +€76,983 | +31.4% |
| Amounts payable | 17/49 | €4,185 | €18,476 | +€14,290 | +341.4% |
| Amounts payable within one year | 42/48 | €4,185 | €18,476 | +€14,290 | +341.4% |
| Trade debts | 44 | €1,619 | €2,914 | +€1,295 | +80.0% |
| Suppliers | 440/4 | €1,619 | €2,914 | +€1,295 | +80.0% |
| Taxes, remuneration and social security | 45 | €2,367 | €12,555 | +€10,188 | +430.5% |
| Taxes | 450/3 | - | €12,555 | +€12,555 | |
| Remuneration and social security | 454/9 | €2,367 | - | -€2,367 | |
| Other amounts payable | 47/48 | €200 | €3,007 | +€2,807 | +1403.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,773 | €1,314 | -€459 | -25.9% |
| Other operating charges | 640/8 | €20,030 | €2,732 | -€17,298 | -86.4% |
| Non-recurring operating charges | 66A | €896 | - | -€896 | |
| Gross operating margin | 9900 | €23,831 | €93,818 | +€69,987 | +293.7% |
| Operating profit (loss) | 9901 | €1,132 | €89,772 | +€88,640 | +7828.4% |
| Financial charges | 65/66B | €18,789 | €235 | -€18,554 | -98.7% |
| Recurring financial charges | 65 | €18,789 | €235 | -€18,554 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,657 | €89,537 | +€107,194 | |
| Income taxes | 67/77 | - | €12,555 | +€12,555 | |
| Profit (loss) for the period | 9904 | -€17,657 | €76,983 | +€94,639 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,657 | €76,983 | +€94,639 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.