NAFISCO: 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.
NAFISCO
Largest movements
- Cash +€68,645
up €68,645 (+27.5%), from €249,380 to €318,025
mainly Net result for the year (+€76,345) and Depreciation (+€8,418)
- Receivables within one year +€16,849
up €16,849 (+146.6%), from €11,495 to €28,344
- Tangible fixed assets -€6,848
down €6,848 (-49.8%), from €13,756 to €6,908
- Reserves +€75,000
up €75,000 (+124.2%), from €60,400 to €135,400
of which Distributable reserves: +€75,000
- Tax, wage and social debts +€5,669
up €5,669 (+41.7%), from €13,593 to €19,262
of which Taxes: +€7,496
- Gross operating margin +€19,580
up €19,580 (+14.6%), from €133,708 to €153,288
- Taxes +€17,255
up €17,255 (+84.7%), from €20,362 to €37,617
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 | €277,555 | €356,376 | +€78,821 | +28.4% |
| Fixed assets | 21/28 | €13,974 | €7,126 | -€6,848 | -49.0% |
| Tangible fixed assets | 22/27 | €13,756 | €6,908 | -€6,848 | -49.8% |
| Furniture and vehicles | 24 | €13,756 | €6,908 | -€6,848 | -49.8% |
| Financial fixed assets | 28 | €218 | €218 | = | 0.0% |
| Current assets | 29/58 | €263,581 | €349,250 | +€85,669 | +32.5% |
| Amounts receivable within one year | 40/41 | €11,495 | €28,344 | +€16,849 | +146.6% |
| Trade receivables | 40 | €11,495 | €28,344 | +€16,849 | +146.6% |
| Cash at bank and in hand | 54/58 | €249,380 | €318,025 | +€68,645 | +27.5% |
| Deferred charges and accrued income | 490/1 | €2,706 | €2,881 | +€175 | +6.5% |
| Total equity and liabilities | 10/49 | €277,555 | €356,376 | +€78,821 | +28.4% |
| Equity | 10/15 | €249,738 | €326,083 | +€76,345 | +30.6% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €60,400 | €135,400 | +€75,000 | +124.2% |
| Non-distributable reserves | 130/1 | €400 | €400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €400 | €400 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €135,000 | +€75,000 | +125.0% |
| Profit (loss) carried forward | 14 | €129,338 | €130,683 | +€1,345 | +1.0% |
| Amounts payable | 17/49 | €27,817 | €30,293 | +€2,476 | +8.9% |
| Amounts payable within one year | 42/48 | €27,515 | €29,982 | +€2,467 | +9.0% |
| Trade debts | 44 | €624 | €752 | +€128 | +20.5% |
| Suppliers | 440/4 | €624 | €752 | +€128 | +20.5% |
| Taxes, remuneration and social security | 45 | €13,593 | €19,262 | +€5,669 | +41.7% |
| Taxes | 450/3 | €7,994 | €15,490 | +€7,496 | +93.8% |
| Remuneration and social security | 454/9 | €5,599 | €3,772 | -€1,827 | -32.6% |
| Other amounts payable | 47/48 | €13,298 | €9,968 | -€3,330 | -25.0% |
| Accrued charges and deferred income | 492/3 | €302 | €311 | +€9 | +3.0% |
| Remuneration, social security and pensions | 62 | €30,910 | €32,062 | +€1,152 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,895 | €8,418 | +€523 | +6.6% |
| Other operating charges | 640/8 | €1,696 | €1,829 | +€133 | +7.8% |
| Gross operating margin | 9900 | €133,708 | €153,288 | +€19,580 | +14.6% |
| Operating profit (loss) | 9901 | €93,207 | €110,979 | +€17,772 | +19.1% |
| Financial income | 75/76B | €4,657 | €3,129 | -€1,528 | -32.8% |
| Recurring financial income | 75 | €4,657 | €3,129 | -€1,528 | -32.8% |
| Financial charges | 65/66B | €234 | €146 | -€88 | -37.6% |
| Recurring financial charges | 65 | €234 | €146 | -€88 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €97,630 | €113,962 | +€16,332 | +16.7% |
| Income taxes | 67/77 | €20,362 | €37,617 | +€17,255 | +84.7% |
| Profit (loss) for the period | 9904 | €77,268 | €76,345 | -€923 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77,268 | €76,345 | -€923 | -1.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.