NAKER: 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.
NAKER
Largest movements
- Cash +€133,856
up €133,856 (+49.3%), from €271,254 to €405,110
mainly Net result for the year (+€131,372) and Tax, wage and social debts (+€4,942)
- Reserves +€131,372
up €131,372 (+128.4%), from €102,310 to €233,682
- Tax, wage and social debts +€4,942
up €4,942 (+17.3%), from €28,650 to €33,593
of which Taxes: +€8,548
- Taxes +€33,461
up €33,461 (+133.8%), from €25,000 to €58,461
- Gross operating margin -€26,948
down €26,948 (-11.3%), from €237,561 to €210,613
- Staff costs -€5,917
down €5,917 (-22.8%), from €25,970 to €20,053
- Depreciation -€5,484
down €5,484 (-94.8%), from €5,783 to €299
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 | €322,444 | €457,674 | +€135,230 | +41.9% |
| Fixed assets | 21/28 | €1,317 | €1,018 | -€299 | -22.7% |
| Tangible fixed assets | 22/27 | €697 | €398 | -€299 | -42.9% |
| Furniture and vehicles | 24 | €697 | €398 | -€299 | -42.9% |
| Financial fixed assets | 28 | €620 | €620 | = | 0.0% |
| Current assets | 29/58 | €321,127 | €456,656 | +€135,529 | +42.2% |
| Amounts receivable within one year | 40/41 | €49,491 | €49,537 | +€47 | +0.1% |
| Other amounts receivable | 41 | €49,491 | €49,537 | +€47 | +0.1% |
| Current investments | 50/53 | - | €329 | +€329 | |
| Cash at bank and in hand | 54/58 | €271,254 | €405,110 | +€133,856 | +49.3% |
| Deferred charges and accrued income | 490/1 | €381 | €1,679 | +€1,297 | +340.1% |
| Total equity and liabilities | 10/49 | €322,444 | €457,674 | +€135,230 | +41.9% |
| Equity | 10/15 | €290,213 | €421,585 | +€131,372 | +45.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €102,310 | €233,682 | +€131,372 | +128.4% |
| Distributable reserves | 133 | €102,310 | €233,682 | +€131,372 | +128.4% |
| Profit (loss) carried forward | 14 | €185,402 | €185,402 | = | 0.0% |
| Amounts payable | 17/49 | €32,231 | €36,089 | +€3,858 | +12.0% |
| Amounts payable within one year | 42/48 | €32,231 | €36,089 | +€3,858 | +12.0% |
| Trade debts | 44 | €3,581 | €2,497 | -€1,084 | -30.3% |
| Suppliers | 440/4 | €3,581 | €2,497 | -€1,084 | -30.3% |
| Taxes, remuneration and social security | 45 | €28,650 | €33,593 | +€4,942 | +17.3% |
| Taxes | 450/3 | €25,045 | €33,593 | +€8,548 | +34.1% |
| Remuneration and social security | 454/9 | €3,606 | - | -€3,606 | |
| Remuneration, social security and pensions | 62 | €25,970 | €20,053 | -€5,917 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,783 | €299 | -€5,484 | -94.8% |
| Other operating charges | 640/8 | €1,296 | €296 | -€1,000 | -77.2% |
| Gross operating margin | 9900 | €237,561 | €210,613 | -€26,948 | -11.3% |
| Operating profit (loss) | 9901 | €204,512 | €189,965 | -€14,547 | -7.1% |
| Financial charges | 65/66B | €183 | €132 | -€51 | -28.1% |
| Recurring financial charges | 65 | €183 | €132 | -€51 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €204,328 | €189,833 | -€14,495 | -7.1% |
| Income taxes | 67/77 | €25,000 | €58,461 | +€33,461 | +133.8% |
| Profit (loss) for the period | 9904 | €179,328 | €131,372 | -€47,957 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €179,328 | €131,372 | -€47,957 | -26.7% |
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 30 September 2026 via checked.be.