NAGOA: 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.
NAGOA
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€27,878
down €27,878 (-35.4%), from €78,847 to €50,969
mainly Contributions, distributions and other (-€155,000) and Current investments (-€50,000)
- Receivables within one year -€7,335
down €7,335 (-18.1%), from €40,506 to €33,171
of which Other amounts receivable: -€6,595
- Tangible fixed assets -€4,049
down €4,049 (-91.2%), from €4,441 to €391
of which Furniture and vehicles: -€3,815
- Deferred charges and accrued income -€1,589
no longer reported in 2025 (was €1,589)
- Other debts +€102,839
up €102,839 (+14,238%), from €722 to €103,561
- Profit (loss) carried forward -€46,649
down €46,649 (-69.1%), from €67,506 to €20,858
- Contributions -€40,000
no longer reported in 2025 (was €40,000)
- Trade debts -€3,091
down €3,091 (-82.0%), from €3,769 to €678
- Accrued charges and deferred income -€2,139
no longer reported in 2025 (was €2,139)
- Gross operating margin +€12,819
up €12,819 (+16.4%), from €77,958 to €90,777
- Financial income -€11,669
down €11,669 (-97.4%), from €11,985 to €317
- Depreciation -€3,094
down €3,094 (-43.3%), from €7,144 to €4,049
- Taxes +€3,033
up €3,033 (+20.8%), from €14,600 to €17,633
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 | €125,383 | €134,532 | +€9,149 | +7.3% |
| Fixed assets | 21/28 | €4,441 | €391 | -€4,049 | -91.2% |
| Tangible fixed assets | 22/27 | €4,441 | €391 | -€4,049 | -91.2% |
| Plant, machinery and equipment | 23 | €235 | - | -€235 | |
| Furniture and vehicles | 24 | €4,206 | €391 | -€3,815 | -90.7% |
| Current assets | 29/58 | €120,942 | €134,140 | +€13,198 | +10.9% |
| Amounts receivable within one year | 40/41 | €40,506 | €33,171 | -€7,335 | -18.1% |
| Trade receivables | 40 | €29,243 | €28,503 | -€740 | -2.5% |
| Other amounts receivable | 41 | €11,263 | €4,668 | -€6,595 | -58.6% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €78,847 | €50,969 | -€27,878 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,589 | - | -€1,589 | |
| Total equity and liabilities | 10/49 | €125,383 | €134,532 | +€9,149 | +7.3% |
| Equity | 10/15 | €107,506 | €20,858 | -€86,649 | -80.6% |
| Contributions | 10/11 | €40,000 | - | -€40,000 | |
| Profit (loss) carried forward | 14 | €67,506 | €20,858 | -€46,649 | -69.1% |
| Amounts payable | 17/49 | €17,877 | €113,674 | +€95,797 | +536% |
| Amounts payable within one year | 42/48 | €15,737 | €113,674 | +€97,937 | +622% |
| Trade debts | 44 | €3,769 | €678 | -€3,091 | -82.0% |
| Suppliers | 440/4 | €3,769 | €678 | -€3,091 | -82.0% |
| Taxes, remuneration and social security | 45 | €11,246 | €9,435 | -€1,811 | -16.1% |
| Taxes | 450/3 | €11,246 | €9,435 | -€1,811 | -16.1% |
| Other amounts payable | 47/48 | €722 | €103,561 | +€102,839 | +14,238% |
| Accrued charges and deferred income | 492/3 | €2,139 | - | -€2,139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,144 | €4,049 | -€3,094 | -43.3% |
| Other operating charges | 640/8 | €879 | €908 | +€29 | +3.3% |
| Gross operating margin | 9900 | €77,958 | €90,777 | +€12,819 | +16.4% |
| Operating profit (loss) | 9901 | €69,936 | €85,820 | +€15,884 | +22.7% |
| Financial income | 75/76B | €11,985 | €317 | -€11,669 | -97.4% |
| Recurring financial income | 75 | €11,985 | €317 | -€11,669 | -97.4% |
| Financial charges | 65/66B | -€185 | €152 | +€337 | |
| Recurring financial charges | 65 | -€185 | €152 | +€337 | |
| Profit (loss) for the period before taxes | 9903 | €82,106 | €85,984 | +€3,878 | +4.7% |
| Income taxes | 67/77 | €14,600 | €17,633 | +€3,033 | +20.8% |
| Profit (loss) for the period | 9904 | €67,506 | €68,351 | +€845 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,506 | €68,351 | +€845 | +1.3% |
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 15 October 2026 via checked.be.