NAGANT: 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.
NAGANT
Largest movements
- Cash +€165,577
up €165,577 (+100%), from €165,398 to €330,975
mainly Accrued charges and deferred income (+€178,975) and Net result for the year (+€12,070)
- Receivables within one year +€25,951
up €25,951 (+25.3%), from €102,560 to €128,511
of which Trade receivables: +€25,534
- Tangible fixed assets -€5,016
down €5,016 (-22.8%), from €21,995 to €16,979
of which Land and buildings: -€3,640
- Accrued charges and deferred income +€178,975
up €178,975 (+189%), from €94,944 to €273,920
- Profit (loss) carried forward +€12,070
up €12,070 (+8.8%), from €136,978 to €149,048
- Debts after one year -€5,139
no longer reported in 2025 (was €5,139)
- Gross operating margin +€10,591
up €10,591 (+38.8%), from €27,328 to €37,919
- Financial charges +€3,508
up €3,508 (+157%), from €2,228 to €5,735
- Other operating charges +€1,726
up €1,726 (+207%), from €834 to €2,560
- Depreciation -€415
down €415 (-4.5%), from €9,335 to €8,920
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 | €294,845 | €483,124 | +€188,279 | +63.9% |
| Fixed assets | 21/28 | €22,388 | €17,373 | -€5,016 | -22.4% |
| Tangible fixed assets | 22/27 | €21,995 | €16,979 | -€5,016 | -22.8% |
| Land and buildings | 22 | €7,833 | €4,193 | -€3,640 | -46.5% |
| Plant, machinery and equipment | 23 | €3,647 | €2,274 | -€1,374 | -37.7% |
| Furniture and vehicles | 24 | €10,515 | €10,513 | -€2 | 0.0% |
| Financial fixed assets | 28 | €393 | €393 | = | 0.0% |
| Current assets | 29/58 | €272,456 | €465,751 | +€193,294 | +70.9% |
| Amounts receivable within one year | 40/41 | €102,560 | €128,511 | +€25,951 | +25.3% |
| Trade receivables | 40 | - | €25,534 | +€25,534 | |
| Other amounts receivable | 41 | €102,560 | €102,977 | +€417 | +0.4% |
| Cash at bank and in hand | 54/58 | €165,398 | €330,975 | +€165,577 | +100% |
| Deferred charges and accrued income | 490/1 | €4,499 | €6,266 | +€1,766 | +39.3% |
| Total equity and liabilities | 10/49 | €294,845 | €483,124 | +€188,279 | +63.9% |
| Equity | 10/15 | €157,843 | €169,913 | +€12,070 | +7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €865 | €865 | = | 0.0% |
| Distributable reserves | 133 | €865 | €865 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,978 | €149,048 | +€12,070 | +8.8% |
| Amounts payable | 17/49 | €137,001 | €313,210 | +€176,209 | +129% |
| Amounts payable after more than one year | 17 | €5,139 | - | -€5,139 | |
| Financial debts | 170/4 | €5,139 | - | -€5,139 | |
| Amounts payable within one year | 42/48 | €36,918 | €39,291 | +€2,373 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €5,069 | €5,139 | +€70 | +1.4% |
| Trade debts | 44 | €7,333 | €7,965 | +€632 | +8.6% |
| Suppliers | 440/4 | €7,333 | €7,965 | +€632 | +8.6% |
| Taxes, remuneration and social security | 45 | €24,517 | €26,187 | +€1,670 | +6.8% |
| Taxes | 450/3 | €24,517 | €26,187 | +€1,670 | +6.8% |
| Accrued charges and deferred income | 492/3 | €94,944 | €273,920 | +€178,975 | +189% |
| Remuneration, social security and pensions | 62 | €1,920 | €2,064 | +€144 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,335 | €8,920 | -€415 | -4.5% |
| Other operating charges | 640/8 | €834 | €2,560 | +€1,726 | +207% |
| Gross operating margin | 9900 | €27,328 | €37,919 | +€10,591 | +38.8% |
| Operating profit (loss) | 9901 | €15,239 | €24,375 | +€9,137 | +60.0% |
| Financial income | 75/76B | €1 | €12 | +€11 | +1,069% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1,069% |
| Financial charges | 65/66B | €2,228 | €5,735 | +€3,508 | +157% |
| Recurring financial charges | 65 | €2,228 | €5,735 | +€3,508 | +157% |
| Profit (loss) for the period before taxes | 9903 | €13,012 | €18,651 | +€5,640 | +43.3% |
| Income taxes | 67/77 | €6,309 | €6,582 | +€273 | +4.3% |
| Profit (loss) for the period | 9904 | €6,703 | €12,070 | +€5,367 | +80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,703 | €12,070 | +€5,367 | +80.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.