NAGARA: 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.
NAGARA
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Receivables within one year +€37,318
up €37,318 (+6.1%), from €611,356 to €648,674
of which Other amounts receivable: +€19,449
- Tangible fixed assets +€15,752
up €15,752 (+66.2%), from €23,782 to €39,534
- Profit (loss) carried forward -€185,764
down €185,764 (-99.3%), from €187,106 to €1,342
- Other debts +€131,270
up €131,270 (+44.6%), from €294,053 to €425,323
- Tax, wage and social debts +€112,747
up €112,747 (+1819.8%), from €6,196 to €118,942
of which Taxes: +€111,155
- Trade debts +€54,763
up €54,763 (+14.0%), from €390,657 to €445,420
- Current portion of long-term debt -€10,572
down €10,572 (-83.3%), from €12,698 to €2,125
- Gross operating margin +€46,986
up €46,986 (+5.9%), from €790,800 to €837,786
- Taxes +€10,125
up €10,125 (+5.3%), from €189,539 to €199,663
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 | €916,445 | €1,016,716 | +€100,271 | +10.9% |
| Fixed assets | 21/28 | €23,782 | €39,534 | +€15,752 | +66.2% |
| Tangible fixed assets | 22/27 | €23,782 | €39,534 | +€15,752 | +66.2% |
| Furniture and vehicles | 24 | €23,782 | €39,534 | +€15,752 | +66.2% |
| Current assets | 29/58 | €892,662 | €977,182 | +€84,519 | +9.5% |
| Amounts receivable within one year | 40/41 | €611,356 | €648,674 | +€37,318 | +6.1% |
| Trade receivables | 40 | €587,095 | €604,963 | +€17,868 | +3.0% |
| Other amounts receivable | 41 | €24,262 | €43,711 | +€19,449 | +80.2% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €274,932 | €277,452 | +€2,519 | +0.9% |
| Deferred charges and accrued income | 490/1 | €6,374 | €11,056 | +€4,682 | +73.5% |
| Total equity and liabilities | 10/49 | €916,445 | €1,016,716 | +€100,271 | +10.9% |
| Equity | 10/15 | €210,669 | €24,905 | -€185,764 | -88.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,963 | €4,963 | = | 0.0% |
| Tax-exempt reserves | 132 | €907 | €907 | = | 0.0% |
| Distributable reserves | 133 | €4,056 | €4,056 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,106 | €1,342 | -€185,764 | -99.3% |
| Amounts payable | 17/49 | €705,776 | €991,811 | +€286,035 | +40.5% |
| Amounts payable after more than one year | 17 | €2,125 | - | -€2,125 | |
| Financial debts | 170/4 | €2,125 | - | -€2,125 | |
| Amounts payable within one year | 42/48 | €703,603 | €991,811 | +€288,207 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €12,698 | €2,125 | -€10,572 | -83.3% |
| Trade debts | 44 | €390,657 | €445,420 | +€54,763 | +14.0% |
| Suppliers | 440/4 | €390,657 | €445,420 | +€54,763 | +14.0% |
| Taxes, remuneration and social security | 45 | €6,196 | €118,942 | +€112,747 | +1819.8% |
| Taxes | 450/3 | €6,196 | €117,351 | +€111,155 | +1794.1% |
| Remuneration and social security | 454/9 | - | €1,591 | +€1,591 | |
| Other amounts payable | 47/48 | €294,053 | €425,323 | +€131,270 | +44.6% |
| Accrued charges and deferred income | 492/3 | €47 | - | -€47 | |
| Remuneration, social security and pensions | 62 | €11,471 | €16,966 | +€5,495 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,371 | €22,116 | +€2,745 | +14.2% |
| Other operating charges | 640/8 | €1,013 | €2,123 | +€1,110 | +109.6% |
| Non-recurring operating charges | 66A | - | €225 | +€225 | |
| Gross operating margin | 9900 | €790,800 | €837,786 | +€46,986 | +5.9% |
| Operating profit (loss) | 9901 | €758,944 | €796,356 | +€37,412 | +4.9% |
| Financial income | 75/76B | €7,318 | €7,608 | +€290 | +4.0% |
| Recurring financial income | 75 | €7,318 | €7,608 | +€290 | +4.0% |
| Financial charges | 65/66B | €565 | €2,959 | +€2,393 | +423.4% |
| Recurring financial charges | 65 | €565 | €2,959 | +€2,393 | +423.4% |
| Profit (loss) for the period before taxes | 9903 | €765,697 | €801,006 | +€35,308 | +4.6% |
| Income taxes | 67/77 | €189,539 | €199,663 | +€10,125 | +5.3% |
| Profit (loss) for the period | 9904 | €576,159 | €601,342 | +€25,184 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €576,159 | €601,342 | +€25,184 | +4.4% |
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 2 October 2026 via checked.be.