NAGELS DIRK: 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.
NAGELS DIRK
Largest movements
- Current investments -€368,961
down €368,961 (-32.5%), from €1.1m to €767,077
- Cash +€359,177
up €359,177 (+320%), from €112,250 to €471,426
mainly Current investments (+€368,961) and Net result for the year (+€14,904)
- Other debts -€30,046
down €30,046 (-6.4%), from €466,707 to €436,661
- Reserves +€14,904
up €14,904 (+7.0%), from €211,409 to €226,313
- Financial income -€99,373
down €99,373 (-77.9%), from €127,553 to €28,180
- Taxes -€27,714
down €27,714 (-92.8%), from €29,875 to €2,160
- Gross operating margin +€2,320
up €2,320 (+6.8%), from €33,940 to €36,260
- Financial charges -€2,003
down €2,003 (-5.5%), from €36,310 to €34,307
- Other operating charges -€1,878
down €1,878 (-86.6%), from €2,169 to €291
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 | €1,281,772 | €1,263,699 | -€18,073 | -1.4% |
| Fixed assets | 21/28 | €25,846 | €13,069 | -€12,777 | -49.4% |
| Tangible fixed assets | 22/27 | €25,846 | €13,069 | -€12,777 | -49.4% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €12,926 | €10,797 | -€2,129 | -16.5% |
| Furniture and vehicles | 24 | €12,920 | €2,273 | -€10,648 | -82.4% |
| Current assets | 29/58 | €1,255,926 | €1,250,629 | -€5,297 | -0.4% |
| Amounts receivable within one year | 40/41 | - | €7,420 | +€7,420 | |
| Trade receivables | 40 | - | €4,659 | +€4,659 | |
| Other amounts receivable | 41 | - | €2,761 | +€2,761 | |
| Current investments | 50/53 | €1,136,039 | €767,077 | -€368,961 | -32.5% |
| Cash at bank and in hand | 54/58 | €112,250 | €471,426 | +€359,177 | +320% |
| Deferred charges and accrued income | 490/1 | €7,638 | €4,706 | -€2,932 | -38.4% |
| Total equity and liabilities | 10/49 | €1,281,772 | €1,263,699 | -€18,073 | -1.4% |
| Equity | 10/15 | €725,409 | €740,313 | +€14,904 | +2.1% |
| Contributions | 10/11 | €514,000 | €514,000 | = | 0.0% |
| Reserves | 13 | €211,409 | €226,313 | +€14,904 | +7.0% |
| Distributable reserves | 133 | €211,409 | €226,313 | +€14,904 | +7.0% |
| Amounts payable | 17/49 | €556,363 | €523,385 | -€32,978 | -5.9% |
| Amounts payable within one year | 42/48 | €553,310 | €523,385 | -€29,925 | -5.4% |
| Trade debts | 44 | €1,091 | €2,565 | +€1,474 | +135% |
| Suppliers | 440/4 | €1,091 | €2,565 | +€1,474 | +135% |
| Taxes, remuneration and social security | 45 | €85,512 | €84,159 | -€1,353 | -1.6% |
| Taxes | 450/3 | €38,247 | €36,894 | -€1,353 | -3.5% |
| Remuneration and social security | 454/9 | €47,265 | €47,265 | = | 0.0% |
| Other amounts payable | 47/48 | €466,707 | €436,661 | -€30,046 | -6.4% |
| Accrued charges and deferred income | 492/3 | €3,053 | - | -€3,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,512 | €12,777 | -€736 | -5.4% |
| Other operating charges | 640/8 | €2,169 | €291 | -€1,878 | -86.6% |
| Gross operating margin | 9900 | €33,940 | €36,260 | +€2,320 | +6.8% |
| Operating profit (loss) | 9901 | €18,259 | €23,192 | +€4,934 | +27.0% |
| Financial income | 75/76B | €127,553 | €28,180 | -€99,373 | -77.9% |
| Recurring financial income | 75 | €127,553 | €28,180 | -€99,373 | -77.9% |
| Financial charges | 65/66B | €36,310 | €34,307 | -€2,003 | -5.5% |
| Recurring financial charges | 65 | €36,310 | €34,307 | -€2,003 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €109,501 | €17,065 | -€92,436 | -84.4% |
| Income taxes | 67/77 | €29,875 | €2,160 | -€27,714 | -92.8% |
| Profit (loss) for the period | 9904 | €79,626 | €14,904 | -€64,722 | -81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,626 | €14,904 | -€64,722 | -81.3% |
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 22 October 2026 via checked.be.