NAKASESO: 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.
NAKASESO
Largest movements
- Stocks and contracts -€42,351
down €42,351 (-41.6%), from €101,758 to €59,407
- Cash -€13,288
down €13,288 (-17.6%), from €75,339 to €62,052
mainly Net result for the year (-€90,449) and Contributions, distributions and other (-€18,592)
- Profit (loss) carried forward -€90,449
down €90,449 (-89.5%), from €101,085 to €10,635
- Current portion of long-term debt +€32,659
up €32,659 (+308%), from €10,589 to €43,248
- Contributions -€18,592
no longer reported in 2025 (was €18,592)
- Other debts +€18,592
new in 2025: €18,592
- Trade debts +€2,247
up €2,247 (+28.4%), from €7,916 to €10,163
- Gross operating margin -€338,274
down €338,274 (-79.3%), from €426,588 to €88,314
- Financial charges -€16,679
down €16,679 (-77.4%), from €21,554 to €4,875
- Staff costs +€12,535
up €12,535 (+7.8%), from €160,953 to €173,489
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 | €178,963 | €122,375 | -€56,588 | -31.6% |
| Fixed assets | 21/28 | €126 | €126 | = | 0.0% |
| Financial fixed assets | 28 | €126 | €126 | = | 0.0% |
| Current assets | 29/58 | €178,837 | €122,249 | -€56,588 | -31.6% |
| Stocks and contracts in progress | 3 | €101,758 | €59,407 | -€42,351 | -41.6% |
| Stocks | 30/36 | €101,758 | €59,407 | -€42,351 | -41.6% |
| Amounts receivable within one year | 40/41 | €1,740 | €790 | -€950 | -54.6% |
| Trade receivables | 40 | €902 | - | -€902 | |
| Other amounts receivable | 41 | €838 | €790 | -€48 | -5.7% |
| Cash at bank and in hand | 54/58 | €75,339 | €62,052 | -€13,288 | -17.6% |
| Total equity and liabilities | 10/49 | €178,963 | €122,375 | -€56,588 | -31.6% |
| Equity | 10/15 | €121,536 | €12,495 | -€109,041 | -89.7% |
| Contributions | 10/11 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,085 | €10,635 | -€90,449 | -89.5% |
| Amounts payable | 17/49 | €57,427 | €109,880 | +€52,453 | +91.3% |
| Amounts payable within one year | 42/48 | €57,427 | €109,880 | +€52,453 | +91.3% |
| Current portion of amounts payable after more than one year | 42 | €10,589 | €43,248 | +€32,659 | +308% |
| Financial debts | 43 | €2,644 | €2,195 | -€449 | -17.0% |
| Credit institutions | 430/8 | €2,644 | €2,195 | -€449 | -17.0% |
| Trade debts | 44 | €7,916 | €10,163 | +€2,247 | +28.4% |
| Suppliers | 440/4 | €7,916 | €10,163 | +€2,247 | +28.4% |
| Taxes, remuneration and social security | 45 | €36,277 | €35,682 | -€595 | -1.6% |
| Taxes | 450/3 | €9,339 | €8,894 | -€445 | -4.8% |
| Remuneration and social security | 454/9 | €26,939 | €26,788 | -€151 | -0.6% |
| Other amounts payable | 47/48 | - | €18,592 | +€18,592 | |
| Remuneration, social security and pensions | 62 | €160,953 | €173,489 | +€12,535 | +7.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €426,588 | €88,314 | -€338,274 | -79.3% |
| Operating profit (loss) | 9901 | €265,247 | -€85,574 | -€350,821 | |
| Financial charges | 65/66B | €21,554 | €4,875 | -€16,679 | -77.4% |
| Recurring financial charges | 65 | €21,554 | €4,875 | -€16,679 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | €243,692 | -€90,449 | -€334,142 | |
| Profit (loss) for the period | 9904 | €243,692 | -€90,449 | -€334,142 | |
| Profit (loss) for the period to be appropriated | 9905 | €243,692 | -€90,449 | -€334,142 |
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 18 October 2026 via checked.be.