NAJAH: 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.
NAJAH
Largest movements
- Receivables within one year +€42,365
up €42,365 (+76.3%), from €55,494 to €97,859
- Cash -€22,595
down €22,595 (-81.5%), from €27,738 to €5,143
mainly Receivables within one year (-€42,365) and Tax, wage and social debts (-€15,408)
- Financial fixed assets -€15,000
down €15,000 (-21.7%), from €69,173 to €54,173
- Tangible fixed assets +€10,586
up €10,586 (+54.0%), from €19,586 to €30,172
- Profit (loss) carried forward +€20,612
up €20,612 (+17.8%), from -€115,554 to -€94,942
- Other debts +€19,159
up €19,159 (+71.2%), from €26,909 to €46,068
- Tax, wage and social debts -€15,408
down €15,408 (-11.6%), from €132,467 to €117,059
of which Taxes: -€19,633
- Trade debts -€9,006
down €9,006 (-9.2%), from €97,710 to €88,704
- Gross operating margin +€154,545
up €154,545 (+152%), from €101,516 to €256,061
- Turnover +€146,749
up €146,749 (+46.9%), from €313,117 to €459,867
- Staff costs +€30,273
up €30,273 (+17.7%), from €171,400 to €201,673
- Financial income -€29,145
no longer reported in 2025 (was €29,145)
of which Non-recurring financial income: -€28,464
- Financial charges +€8,555
up €8,555 (+116%), from €7,375 to €15,931
of which Non-recurring financial charges: +€8,945
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 | €171,991 | €187,348 | +€15,357 | +8.9% |
| Fixed assets | 21/28 | €88,759 | €84,345 | -€4,414 | -5.0% |
| Tangible fixed assets | 22/27 | €19,586 | €30,172 | +€10,586 | +54.0% |
| Furniture and vehicles | 24 | €19,586 | €30,172 | +€10,586 | +54.0% |
| Financial fixed assets | 28 | €69,173 | €54,173 | -€15,000 | -21.7% |
| Current assets | 29/58 | €83,232 | €103,003 | +€19,770 | +23.8% |
| Amounts receivable within one year | 40/41 | €55,494 | €97,859 | +€42,365 | +76.3% |
| Trade receivables | 40 | €55,494 | €97,859 | +€42,365 | +76.3% |
| Cash at bank and in hand | 54/58 | €27,738 | €5,143 | -€22,595 | -81.5% |
| Total equity and liabilities | 10/49 | €171,991 | €187,348 | +€15,357 | +8.9% |
| Equity | 10/15 | -€85,094 | -€64,482 | +€20,612 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,554 | -€94,942 | +€20,612 | +17.8% |
| Amounts payable | 17/49 | €257,086 | €251,830 | -€5,255 | -2.0% |
| Amounts payable within one year | 42/48 | €257,086 | €251,830 | -€5,255 | -2.0% |
| Trade debts | 44 | €97,710 | €88,704 | -€9,006 | -9.2% |
| Suppliers | 440/4 | €97,710 | €88,704 | -€9,006 | -9.2% |
| Taxes, remuneration and social security | 45 | €132,467 | €117,059 | -€15,408 | -11.6% |
| Taxes | 450/3 | €120,455 | €100,823 | -€19,633 | -16.3% |
| Remuneration and social security | 454/9 | €12,011 | €16,236 | +€4,225 | +35.2% |
| Other amounts payable | 47/48 | €26,909 | €46,068 | +€19,159 | +71.2% |
| Turnover | 70 | €313,117 | €459,867 | +€146,749 | +46.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €211,602 | €203,806 | -€7,796 | -3.7% |
| Remuneration, social security and pensions | 62 | €171,400 | €201,673 | +€30,273 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,629 | €12,706 | +€7,077 | +126% |
| Other operating charges | 640/8 | €4,393 | €5,139 | +€745 | +17.0% |
| Gross operating margin | 9900 | €101,516 | €256,061 | +€154,545 | +152% |
| Operating profit (loss) | 9901 | -€79,907 | €36,543 | +€116,450 | |
| Financial income | 75/76B | €29,145 | - | -€29,145 | |
| Recurring financial income | 75 | €682 | - | -€682 | |
| Non-recurring financial income | 76B | €28,464 | - | -€28,464 | |
| Financial charges | 65/66B | €7,375 | €15,931 | +€8,555 | +116% |
| Recurring financial charges | 65 | €4,376 | €3,987 | -€389 | -8.9% |
| Non-recurring financial charges | 66B | €2,999 | €11,944 | +€8,945 | +298% |
| Profit (loss) for the period before taxes | 9903 | -€58,137 | €20,612 | +€78,749 | |
| Income taxes | 67/77 | €976 | - | -€976 | |
| Profit (loss) for the period | 9904 | -€59,113 | €20,612 | +€79,725 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,113 | €20,612 | +€79,725 |
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 14 October 2026 via checked.be.