NAGARE: 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.
NAGARE
Largest movements
- Cash -€20,609
down €20,609 (-24.9%), from €82,807 to €62,198
mainly Contributions, distributions and other (-€177,200) and Investment in fixed assets (net) (-€11,517)
- Reserves -€99,700
down €99,700 (-100.0%), from €99,700 to €0
- Other debts +€84,826
up €84,826 (+84.6%), from €100,267 to €185,093
- Trade debts -€8,546
down €8,546 (-84.2%), from €10,148 to €1,602
- Tax, wage and social debts +€3,271
up €3,271 (+28.2%), from €11,614 to €14,885
of which Taxes: +€3,248
- Gross operating margin +€11,707
up €11,707 (+11.7%), from €99,812 to €111,519
- Taxes +€1,712
up €1,712 (+9.0%), from €19,106 to €20,818
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 | €226,907 | €206,775 | -€20,132 | -8.9% |
| Fixed assets | 21/28 | €122,549 | €123,705 | +€1,156 | +0.9% |
| Tangible fixed assets | 22/27 | €122,549 | €123,705 | +€1,156 | +0.9% |
| Land and buildings | 22 | €99,943 | €93,878 | -€6,065 | -6.1% |
| Plant, machinery and equipment | 23 | €22,606 | €20,731 | -€1,875 | -8.3% |
| Furniture and vehicles | 24 | - | €9,096 | +€9,096 | |
| Current assets | 29/58 | €104,358 | €83,070 | -€21,288 | -20.4% |
| Amounts receivable within one year | 40/41 | €20,245 | €19,193 | -€1,052 | -5.2% |
| Trade receivables | 40 | €14,500 | €16,553 | +€2,053 | +14.2% |
| Other amounts receivable | 41 | €5,745 | €2,640 | -€3,105 | -54.0% |
| Cash at bank and in hand | 54/58 | €82,807 | €62,198 | -€20,609 | -24.9% |
| Deferred charges and accrued income | 490/1 | €1,306 | €1,679 | +€373 | +28.6% |
| Total equity and liabilities | 10/49 | €226,907 | €206,775 | -€20,132 | -8.9% |
| Equity | 10/15 | €104,700 | €5,000 | -€99,700 | -95.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €99,700 | €0 | -€99,700 | -100.0% |
| Distributable reserves | 133 | €99,700 | €0 | -€99,700 | -100.0% |
| Amounts payable | 17/49 | €122,207 | €201,775 | +€79,568 | +65.1% |
| Amounts payable within one year | 42/48 | €122,029 | €201,580 | +€79,551 | +65.2% |
| Trade debts | 44 | €10,148 | €1,602 | -€8,546 | -84.2% |
| Suppliers | 440/4 | €10,148 | €1,602 | -€8,546 | -84.2% |
| Taxes, remuneration and social security | 45 | €11,614 | €14,885 | +€3,271 | +28.2% |
| Taxes | 450/3 | €10,052 | €13,300 | +€3,248 | +32.3% |
| Remuneration and social security | 454/9 | €1,562 | €1,585 | +€23 | +1.5% |
| Other amounts payable | 47/48 | €100,267 | €185,093 | +€84,826 | +84.6% |
| Accrued charges and deferred income | 492/3 | €178 | €195 | +€17 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,800 | €10,361 | +€561 | +5.7% |
| Other operating charges | 640/8 | €3,142 | €2,755 | -€387 | -12.3% |
| Gross operating margin | 9900 | €99,812 | €111,519 | +€11,707 | +11.7% |
| Operating profit (loss) | 9901 | €86,870 | €98,403 | +€11,533 | +13.3% |
| Financial charges | 65/66B | €364 | €85 | -€279 | -76.6% |
| Recurring financial charges | 65 | €364 | €85 | -€279 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €86,506 | €98,318 | +€11,812 | +13.7% |
| Income taxes | 67/77 | €19,106 | €20,818 | +€1,712 | +9.0% |
| Profit (loss) for the period | 9904 | €67,400 | €77,500 | +€10,100 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,400 | €77,500 | +€10,100 | +15.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.