NAFENCO: 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.
What changed
NAFENCO
NACE 46.610, Wholesale trade
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€2.4m
2023 · €4.1m-€1.7m
Equity
€19.7m
2023 · €24.5m-€4.8m
Cash
€479,386
2023 · €20,144+€459,242
Balance sheet total
€30.3m
2023 · €31.2m-€814,150
Largest movements
Assets
- Receivables within one year -€1.3m
down €1.3m (-18.4%), from €7.0m to €5.7m
of which Other amounts receivable: -€1.4m
- Cash +€459,242
up €459,242 (+2,280%), from €20,144 to €479,386
mainly Other debts (+€5.0m) and Net result for the year (+€2.4m)
Equity and liabilities
- Other debts +€5.0m
up €5.0m (+92.0%), from €5.5m to €10.5m
- Reserves -€4.8m
down €4.8m (-58.2%), from €8.2m to €3.5m
of which Distributable reserves: -€4.8m
- Short-term financial debts -€1.1m
no longer reported in 2024 (was €1.1m)
Income statement
- Financial income -€1.7m
down €1.7m (-42.0%), from €4.2m to €2.4m
- Other operating income -€362,973
down €362,973 (-40.5%), from €895,348 to €532,376
- Staff costs -€288,352
down €288,352 (-70.6%), from €408,304 to €119,952
- Financial charges -€75,866
down €75,866 (-49.2%), from €154,072 to €78,207
- Taxes -€24,876
down €24,876, from €22,438 to -€2,438
of which Taxes: -€22,438
From the 2023 result to the 2024 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.
Result 2023
€4.1m
Turnover
+€3,305
Other operating income
-€362,973
Goods and materials
+€5,306
Services and other goods
+€17,991
Staff costs
+€288,352
Depreciation
+€271
Other operating charges
-€228
Other operating items
+€2,791
Financial income
-€1.7m
Financial charges
+€75,866
Taxes
+€24,876
Result 2024
€2.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€8.7m
Investment
-€43,439
Financing
-€8.2m
Cash 2023
€20,144
From operations (derived)
+€8.7m
Net result for the year
+€2.4m
Depreciation
+€13,859
Receivables within one year
+€1.3m
Deferred charges and accrued income
+€10,704
Trade debts
-€20,684
Tax, wage and social debts
+€90,312
Other debts
+€5.0m
Accrued charges and deferred income
-€21,368
Investment (derived)
-€43,439
Investment in fixed assets (net)
-€43,439
Financing
-€8.2m
Short-term financial debts
-€1.1m
Contributions, distributions and other
-€7.2m
Cash 2024
€479,386
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,151,239 | €30,337,089 | -€814,150 | -2.6% |
| Fixed assets | 21/28 | €24,101,472 | €24,131,052 | +€29,580 | +0.1% |
| Tangible fixed assets | 22/27 | €38,272 | €36,880 | -€1,392 | -3.6% |
| Land and buildings | 22 | €3,329 | €2,024 | -€1,305 | -39.2% |
| Plant, machinery and equipment | 23 | €31,819 | €33,109 | +€1,290 | +4.1% |
| Furniture and vehicles | 24 | €3,124 | €1,747 | -€1,377 | -44.1% |
| Financial fixed assets | 28 | €24,063,200 | €24,094,172 | +€30,972 | +0.1% |
| Affiliated companies | 280/1 | €23,972,319 | €23,972,319 | = | 0.0% |
| Participating interests | 280 | €23,972,319 | €23,972,319 | = | 0.0% |
| Other financial fixed assets | 284/8 | €90,881 | €121,852 | +€30,972 | +34.1% |
| Amounts receivable and cash guarantees | 285/8 | €90,881 | €121,852 | +€30,972 | +34.1% |
| Current assets | 29/58 | €7,049,767 | €6,206,037 | -€843,730 | -12.0% |
| Amounts receivable within one year | 40/41 | €7,017,491 | €5,725,224 | -€1.3m | -18.4% |
| Trade receivables | 40 | €5,775 | €155,765 | +€149,990 | +2,597% |
| Other amounts receivable | 41 | €7,011,716 | €5,569,459 | -€1.4m | -20.6% |
| Cash at bank and in hand | 54/58 | €20,144 | €479,386 | +€459,242 | +2,280% |
| Deferred charges and accrued income | 490/1 | €12,132 | €1,428 | -€10,704 | -88.2% |
| Total equity and liabilities | 10/49 | €31,151,239 | €30,337,089 | -€814,150 | -2.6% |
| Equity | 10/15 | €24,485,200 | €19,685,610 | -€4.8m | -19.6% |
| Contributions | 10/11 | €2,600,000 | €2,600,000 | = | 0.0% |
| Capital | 10 | €2,600,000 | €2,600,000 | = | 0.0% |
| Issued capital | 100 | €2,600,000 | €2,600,000 | = | 0.0% |
| Revaluation surpluses | 12 | €13,635,429 | €13,635,429 | = | 0.0% |
| Reserves | 13 | €8,249,771 | €3,450,181 | -€4.8m | -58.2% |
| Non-distributable reserves | 130/1 | €260,000 | €260,000 | = | 0.0% |
| Legal reserve | 130 | €260,000 | €260,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,841 | €19,841 | = | 0.0% |
| Distributable reserves | 133 | €7,969,930 | €3,170,340 | -€4.8m | -60.2% |
| Amounts payable | 17/49 | €6,666,039 | €10,651,479 | +€4.0m | +59.8% |
| Amounts payable within one year | 42/48 | €6,642,724 | €10,649,533 | +€4.0m | +60.3% |
| Financial debts | 43 | €1,079,178 | - | -€1.1m | |
| Credit institutions | 430/8 | €1,079,178 | - | -€1.1m | |
| Trade debts | 44 | €38,870 | €18,186 | -€20,684 | -53.2% |
| Suppliers | 440/4 | €38,870 | €18,186 | -€20,684 | -53.2% |
| Taxes, remuneration and social security | 45 | €71,033 | €161,346 | +€90,312 | +127% |
| Taxes | 450/3 | €49,140 | €60,065 | +€10,925 | +22.2% |
| Remuneration and social security | 454/9 | €21,894 | €101,281 | +€79,387 | +363% |
| Other amounts payable | 47/48 | €5,453,643 | €10,470,001 | +€5.0m | +92.0% |
| Accrued charges and deferred income | 492/3 | €23,315 | €1,947 | -€21,368 | -91.7% |
| Operating income | 70/76A | €903,305 | €539,164 | -€364,141 | -40.3% |
| Turnover | 70 | €1 | €3,306 | +€3,305 | +330,479% |
| Other operating income | 74 | €895,348 | €532,376 | -€362,973 | -40.5% |
| Non-recurring operating income | 76A | €7,956 | €3,483 | -€4,473 | -56.2% |
| Operating charges | 60/66A | €830,064 | €511,109 | -€318,955 | -38.4% |
| Goods for resale, raw materials and consumables | 60 | €5,306 | - | -€5,306 | |
| Purchases | 600/8 | €5,306 | - | -€5,306 | |
| Services and other goods | 61 | €394,118 | €376,127 | -€17,991 | -4.6% |
| Remuneration, social security and pensions | 62 | €408,304 | €119,952 | -€288,352 | -70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,130 | €13,859 | -€271 | -1.9% |
| Other operating charges | 640/8 | €943 | €1,171 | +€228 | +24.1% |
| Non-recurring operating charges | 66A | €7,264 | - | -€7,264 | |
| Operating profit (loss) | 9901 | €73,241 | €28,056 | -€45,186 | -61.7% |
| Financial income | 75/76B | €4,159,872 | €2,411,895 | -€1.7m | -42.0% |
| Recurring financial income | 75 | €4,159,872 | €2,411,895 | -€1.7m | -42.0% |
| Income from financial fixed assets | 750 | €4,017,548 | €2,244,517 | -€1.8m | -44.1% |
| Income from current assets | 751 | €142,325 | €167,378 | +€25,053 | +17.6% |
| Financial charges | 65/66B | €154,072 | €78,207 | -€75,866 | -49.2% |
| Recurring financial charges | 65 | €154,072 | €78,207 | -€75,866 | -49.2% |
| Debt charges | 650 | €150,077 | €71,723 | -€78,355 | -52.2% |
| Other financial charges | 652/9 | €3,995 | €6,484 | +€2,489 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | €4,079,041 | €2,361,743 | -€1.7m | -42.1% |
| Income taxes | 67/77 | €22,438 | -€2,438 | -€24,876 | |
| Taxes | 670/3 | €22,438 | - | -€22,438 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €2,438 | +€2,438 | |
| Profit (loss) for the period | 9904 | €4,056,603 | €2,364,182 | -€1.7m | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,056,603 | €2,364,182 | -€1.7m | -41.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.