NAGASHA: 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.
NAGASHA
Largest movements
- Receivables within one year +€79,296
up €79,296 (+180%), from €43,969 to €123,265
of which Trade receivables: +€75,538
- Cash +€24,638
up €24,638 (+8,607%), from €286 to €24,924
mainly Net result for the year (+€110,597) and Other debts (+€24,091)
- Tangible fixed assets -€15,668
down €15,668 (-3.1%), from €509,161 to €493,493
of which Land and buildings: -€15,809
- Profit (loss) carried forward +€110,597
up €110,597 (+85.1%), from -€130,033 to -€19,437
- Debts after one year -€25,514
down €25,514 (-6.9%), from €368,442 to €342,928
- Other debts +€24,091
up €24,091 (+13.5%), from €177,925 to €202,016
- Trade debts -€20,333
down €20,333 (-67.5%), from €30,108 to €9,775
- Gross operating margin +€83,158
up €83,158 (+172%), from €48,379 to €131,537
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 | €554,135 | €643,038 | +€88,903 | +16.0% |
| Fixed assets | 21/28 | €509,161 | €493,493 | -€15,668 | -3.1% |
| Tangible fixed assets | 22/27 | €509,161 | €493,493 | -€15,668 | -3.1% |
| Land and buildings | 22 | €491,519 | €475,710 | -€15,809 | -3.2% |
| Furniture and vehicles | 24 | €567 | €107 | -€460 | -81.1% |
| Other tangible fixed assets | 26 | €17,075 | €17,676 | +€601 | +3.5% |
| Current assets | 29/58 | €44,974 | €149,545 | +€104,571 | +233% |
| Amounts receivable within one year | 40/41 | €43,969 | €123,265 | +€79,296 | +180% |
| Trade receivables | 40 | €43,969 | €119,507 | +€75,538 | +172% |
| Other amounts receivable | 41 | - | €3,757 | +€3,757 | |
| Cash at bank and in hand | 54/58 | €286 | €24,924 | +€24,638 | +8,607% |
| Deferred charges and accrued income | 490/1 | €719 | €1,357 | +€638 | +88.7% |
| Total equity and liabilities | 10/49 | €554,135 | €643,038 | +€88,903 | +16.0% |
| Equity | 10/15 | -€59,573 | €51,023 | +€110,597 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,860 | €51,860 | = | 0.0% |
| Distributable reserves | 133 | €51,860 | €51,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,033 | -€19,437 | +€110,597 | +85.1% |
| Amounts payable | 17/49 | €613,708 | €592,015 | -€21,693 | -3.5% |
| Amounts payable after more than one year | 17 | €368,442 | €342,928 | -€25,514 | -6.9% |
| Financial debts | 170/4 | €368,442 | €342,928 | -€25,514 | -6.9% |
| Amounts payable within one year | 42/48 | €245,266 | €249,087 | +€3,821 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €25,295 | €25,514 | +€219 | +0.9% |
| Trade debts | 44 | €30,108 | €9,775 | -€20,333 | -67.5% |
| Suppliers | 440/4 | €30,108 | €9,775 | -€20,333 | -67.5% |
| Taxes, remuneration and social security | 45 | €11,938 | €11,782 | -€156 | -1.3% |
| Taxes | 450/3 | €11,938 | €11,782 | -€156 | -1.3% |
| Other amounts payable | 47/48 | €177,925 | €202,016 | +€24,091 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,923 | €14,459 | +€536 | +3.9% |
| Other operating charges | 640/8 | €3,164 | €2,813 | -€351 | -11.1% |
| Gross operating margin | 9900 | €48,379 | €131,537 | +€83,158 | +172% |
| Operating profit (loss) | 9901 | €31,292 | €114,265 | +€82,973 | +265% |
| Financial income | 75/76B | €0 | €3 | +€3 | +30,900% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +30,900% |
| Financial charges | 65/66B | €3,796 | €3,429 | -€367 | -9.7% |
| Recurring financial charges | 65 | €3,796 | €3,429 | -€367 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €27,496 | €110,840 | +€83,343 | +303% |
| Income taxes | 67/77 | €451 | €243 | -€208 | -46.2% |
| Profit (loss) for the period | 9904 | €27,045 | €110,597 | +€83,552 | +309% |
| Profit (loss) for the period to be appropriated | 9905 | €27,045 | €110,597 | +€83,552 | +309% |
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 20 October 2026 via checked.be.