NADIA SHAH: 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.
NADIA SHAH
Largest movements
- Cash +€104,034
up €104,034 (+160%), from €65,137 to €169,171
mainly Net result for the year (+€88,826) and Tax, wage and social debts (+€28,615)
- Tangible fixed assets +€8,960
new in 2025: €8,960
of which Furniture and vehicles: +€8,381
- Receivables within one year +€3,891
up €3,891 (+266%), from €1,463 to €5,354
- Reserves +€88,826
up €88,826 (+320%), from €27,785 to €116,611
- Tax, wage and social debts +€28,615
up €28,615 (+129%), from €22,158 to €50,773
- Gross operating margin +€88,666
up €88,666 (+221%), from €40,044 to €128,711
- Taxes +€25,246
up €25,246 (+235%), from €10,751 to €35,997
- Financial charges +€2,433
new in 2025: €2,433
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 | €67,012 | €185,129 | +€118,117 | +176% |
| Fixed assets | 21/28 | - | €8,960 | +€8,960 | |
| Tangible fixed assets | 22/27 | - | €8,960 | +€8,960 | |
| Plant, machinery and equipment | 23 | - | €579 | +€579 | |
| Furniture and vehicles | 24 | - | €8,381 | +€8,381 | |
| Current assets | 29/58 | €67,012 | €176,169 | +€109,157 | +163% |
| Amounts receivable within one year | 40/41 | €1,463 | €5,354 | +€3,891 | +266% |
| Trade receivables | 40 | €1,463 | €5,354 | +€3,891 | +266% |
| Cash at bank and in hand | 54/58 | €65,137 | €169,171 | +€104,034 | +160% |
| Deferred charges and accrued income | 490/1 | €413 | €1,644 | +€1,231 | +299% |
| Total equity and liabilities | 10/49 | €67,012 | €185,129 | +€118,117 | +176% |
| Equity | 10/15 | €42,785 | €131,611 | +€88,826 | +208% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €27,785 | €116,611 | +€88,826 | +320% |
| Distributable reserves | 133 | €27,785 | €116,611 | +€88,826 | +320% |
| Amounts payable | 17/49 | €24,227 | €53,519 | +€29,291 | +121% |
| Amounts payable within one year | 42/48 | €24,227 | €53,519 | +€29,291 | +121% |
| Trade debts | 44 | €1,477 | €1,122 | -€356 | -24.1% |
| Suppliers | 440/4 | €1,477 | €1,122 | -€356 | -24.1% |
| Taxes, remuneration and social security | 45 | €22,158 | €50,773 | +€28,615 | +129% |
| Taxes | 450/3 | €22,158 | €50,773 | +€28,615 | +129% |
| Other amounts payable | 47/48 | €592 | €1,624 | +€1,032 | +174% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,124 | €1,067 | -€57 | -5.1% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €40,044 | €128,711 | +€88,666 | +221% |
| Operating profit (loss) | 9901 | €38,536 | €127,256 | +€88,721 | +230% |
| Financial charges | 65/66B | - | €2,433 | +€2,433 | |
| Recurring financial charges | 65 | - | €2,433 | +€2,433 | |
| Profit (loss) for the period before taxes | 9903 | €38,536 | €124,823 | +€86,287 | +224% |
| Income taxes | 67/77 | €10,751 | €35,997 | +€25,246 | +235% |
| Profit (loss) for the period | 9904 | €27,785 | €88,826 | +€61,041 | +220% |
| Profit (loss) for the period to be appropriated | 9905 | €27,785 | €88,826 | +€61,041 | +220% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.