NAGAZO: 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.
NAGAZO
Largest movements
- Cash +€69,874
up €69,874 (+116.7%), from €59,898 to €129,772
mainly Net result for the year (+€44,787) and Tax, wage and social debts (+€13,289)
- Tangible fixed assets -€11,097
down €11,097 (-22.4%), from €49,608 to €38,511
- Profit (loss) carried forward +€44,787
up €44,787 (+69.9%), from €64,039 to €108,826
- Tax, wage and social debts +€13,289
up €13,289 (+45.8%), from €29,004 to €42,293
of which Taxes: +€9,649
- Trade debts -€2,093
down €2,093 (-77.1%), from €2,713 to €620
- Gross operating margin -€5,454
down €5,454 (-7.1%), from €76,872 to €71,418
- Depreciation +€5,222
up €5,222 (+88.9%), from €5,874 to €11,096
- Taxes -€2,600
down €2,600 (-14.8%), from €17,600 to €15,000
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 | €123,239 | €180,383 | +€57,144 | +46.4% |
| Fixed assets | 21/28 | €49,608 | €38,511 | -€11,097 | -22.4% |
| Tangible fixed assets | 22/27 | €49,608 | €38,511 | -€11,097 | -22.4% |
| Furniture and vehicles | 24 | €49,608 | €38,511 | -€11,097 | -22.4% |
| Current assets | 29/58 | €73,631 | €141,872 | +€68,241 | +92.7% |
| Amounts receivable within one year | 40/41 | €12,100 | €12,100 | = | 0.0% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,898 | €129,772 | +€69,874 | +116.7% |
| Deferred charges and accrued income | 490/1 | €1,633 | €0 | -€1,633 | -100.0% |
| Total equity and liabilities | 10/49 | €123,239 | €180,383 | +€57,144 | +46.4% |
| Equity | 10/15 | €84,039 | €128,826 | +€44,787 | +53.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Share premium | 1100/10 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,039 | €108,826 | +€44,787 | +69.9% |
| Amounts payable | 17/49 | €39,200 | €51,557 | +€12,357 | +31.5% |
| Amounts payable within one year | 42/48 | €39,200 | €51,557 | +€12,357 | +31.5% |
| Trade debts | 44 | €2,713 | €620 | -€2,093 | -77.1% |
| Suppliers | 440/4 | €2,713 | €620 | -€2,093 | -77.1% |
| Taxes, remuneration and social security | 45 | €29,004 | €42,293 | +€13,289 | +45.8% |
| Taxes | 450/3 | €29,004 | €38,653 | +€9,649 | +33.3% |
| Remuneration and social security | 454/9 | - | €3,640 | +€3,640 | |
| Other amounts payable | 47/48 | €7,483 | €8,644 | +€1,161 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,874 | €11,096 | +€5,222 | +88.9% |
| Other operating charges | 640/8 | €1,074 | €363 | -€711 | -66.2% |
| Gross operating margin | 9900 | €76,872 | €71,418 | -€5,454 | -7.1% |
| Operating profit (loss) | 9901 | €69,924 | €59,959 | -€9,965 | -14.3% |
| Financial charges | 65/66B | €86 | €172 | +€86 | +100.0% |
| Recurring financial charges | 65 | €86 | €172 | +€86 | +100.0% |
| Profit (loss) for the period before taxes | 9903 | €69,838 | €59,787 | -€10,051 | -14.4% |
| Income taxes | 67/77 | €17,600 | €15,000 | -€2,600 | -14.8% |
| Profit (loss) for the period | 9904 | €52,238 | €44,787 | -€7,451 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,238 | €44,787 | -€7,451 | -14.3% |
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 11 October 2026 via checked.be.