NAGROM: 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.
NAGROM
Largest movements
- Receivables within one year +€23,428
up €23,428 (+174.8%), from €13,405 to €36,833
of which Trade receivables: +€21,494
- Cash +€6,800
up €6,800 (+10.3%), from €66,098 to €72,898
mainly Net result for the year (+€45,449) and Tax, wage and social debts (+€6,349)
- Deferred charges and accrued income -€5,728
down €5,728 (-77.4%), from €7,402 to €1,674
- Tangible fixed assets -€3,283
down €3,283 (-42.1%), from €7,791 to €4,508
of which Furniture and vehicles: -€3,131
- Profit (loss) carried forward +€19,949
up €19,949 (+25.2%), from €79,063 to €99,012
- Tax, wage and social debts +€6,349
up €6,349 (+168.1%), from €3,778 to €10,126
- Other debts -€4,073
down €4,073 (-92.6%), from €4,401 to €328
- Gross operating margin +€9,040
up €9,040 (+17.0%), from €53,057 to €62,097
- Taxes +€1,572
up €1,572 (+14.7%), from €10,707 to €12,279
- Depreciation +€663
up €663 (+25.3%), from €2,619 to €3,283
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 | €94,996 | €116,213 | +€21,217 | +22.3% |
| Fixed assets | 21/28 | €8,091 | €4,808 | -€3,283 | -40.6% |
| Tangible fixed assets | 22/27 | €7,791 | €4,508 | -€3,283 | -42.1% |
| Plant, machinery and equipment | 23 | €1,434 | €1,283 | -€151 | -10.6% |
| Furniture and vehicles | 24 | €6,356 | €3,225 | -€3,131 | -49.3% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €86,905 | €111,404 | +€24,499 | +28.2% |
| Amounts receivable within one year | 40/41 | €13,405 | €36,833 | +€23,428 | +174.8% |
| Trade receivables | 40 | €10,618 | €32,112 | +€21,494 | +202.4% |
| Other amounts receivable | 41 | €2,787 | €4,721 | +€1,934 | +69.4% |
| Cash at bank and in hand | 54/58 | €66,098 | €72,898 | +€6,800 | +10.3% |
| Deferred charges and accrued income | 490/1 | €7,402 | €1,674 | -€5,728 | -77.4% |
| Total equity and liabilities | 10/49 | €94,996 | €116,213 | +€21,217 | +22.3% |
| Equity | 10/15 | €84,063 | €104,012 | +€19,949 | +23.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,063 | €99,012 | +€19,949 | +25.2% |
| Amounts payable | 17/49 | €10,933 | €12,201 | +€1,267 | +11.6% |
| Amounts payable within one year | 42/48 | €10,933 | €12,201 | +€1,267 | +11.6% |
| Trade debts | 44 | €2,754 | €1,746 | -€1,008 | -36.6% |
| Suppliers | 440/4 | €2,754 | €1,746 | -€1,008 | -36.6% |
| Taxes, remuneration and social security | 45 | €3,778 | €10,126 | +€6,349 | +168.1% |
| Taxes | 450/3 | €3,778 | €10,126 | +€6,349 | +168.1% |
| Other amounts payable | 47/48 | €4,401 | €328 | -€4,073 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,619 | €3,283 | +€663 | +25.3% |
| Other operating charges | 640/8 | €290 | €700 | +€409 | +141.0% |
| Gross operating margin | 9900 | €53,057 | €62,097 | +€9,040 | +17.0% |
| Operating profit (loss) | 9901 | €50,148 | €58,115 | +€7,967 | +15.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €744 | €387 | -€356 | -47.9% |
| Recurring financial charges | 65 | €744 | €387 | -€356 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €49,404 | €57,728 | +€8,324 | +16.8% |
| Income taxes | 67/77 | €10,707 | €12,279 | +€1,572 | +14.7% |
| Profit (loss) for the period | 9904 | €38,697 | €45,449 | +€6,753 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,697 | €45,449 | +€6,753 | +17.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.