NAKOUDO: 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.
NAKOUDO
Largest movements
- Receivables after one year -€25,000
down €25,000 (-100%), from €25,000 to €0
- Current investments +€12,000
up €12,000 (+27.7%), from €43,308 to €55,308
- Tangible fixed assets -€5,861
down €5,861 (-36.7%), from €15,989 to €10,128
- Receivables within one year +€5,523
up €5,523 (+26.6%), from €20,773 to €26,296
of which Other amounts receivable: +€5,322
- Cash +€2,755
up €2,755 (+4.6%), from €59,605 to €62,360
mainly Net result for the year (+€37,335) and Receivables after one year (+€25,000)
- Other debts +€15,456
up €15,456 (+32.4%), from €47,718 to €63,174
- Reserves -€12,023
down €12,023 (-13.9%), from €86,586 to €74,563
- Profit (loss) carried forward -€10,642
down €10,642, from €0 to -€10,642
- Short-term financial debts -€3,010
down €3,010 (-42.6%), from €7,061 to €4,052
- Gross operating margin +€10,729
up €10,729 (+19.2%), from €55,740 to €66,469
- Financial charges +€5,765
up €5,765 (+322%), from €1,790 to €7,555
- Taxes +€1,240
up €1,240 (+11.9%), from €10,437 to €11,678
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 | €166,201 | €155,960 | -€10,240 | -6.2% |
| Fixed assets | 21/28 | €15,989 | €10,128 | -€5,861 | -36.7% |
| Tangible fixed assets | 22/27 | €15,989 | €10,128 | -€5,861 | -36.7% |
| Land and buildings | 22 | €7,031 | €5,746 | -€1,285 | -18.3% |
| Plant, machinery and equipment | 23 | €5,845 | €4,063 | -€1,782 | -30.5% |
| Furniture and vehicles | 24 | €3,113 | €319 | -€2,794 | -89.8% |
| Current assets | 29/58 | €150,212 | €145,832 | -€4,379 | -2.9% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €20,773 | €26,296 | +€5,523 | +26.6% |
| Trade receivables | 40 | €19,210 | €19,411 | +€200 | +1.0% |
| Other amounts receivable | 41 | €1,563 | €6,885 | +€5,322 | +341% |
| Current investments | 50/53 | €43,308 | €55,308 | +€12,000 | +27.7% |
| Cash at bank and in hand | 54/58 | €59,605 | €62,360 | +€2,755 | +4.6% |
| Deferred charges and accrued income | 490/1 | €1,526 | €1,869 | +€343 | +22.5% |
| Total equity and liabilities | 10/49 | €166,201 | €155,960 | -€10,240 | -6.2% |
| Equity | 10/15 | €105,136 | €82,472 | -€22,665 | -21.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €86,586 | €74,563 | -€12,023 | -13.9% |
| Distributable reserves | 133 | €86,586 | €74,563 | -€12,023 | -13.9% |
| Profit (loss) carried forward | 14 | €0 | -€10,642 | -€10,642 | |
| Amounts payable | 17/49 | €61,064 | €73,489 | +€12,424 | +20.3% |
| Amounts payable within one year | 42/48 | €61,064 | €73,369 | +€12,304 | +20.1% |
| Financial debts | 43 | €7,061 | €4,052 | -€3,010 | -42.6% |
| Credit institutions | 430/8 | €7,061 | €4,052 | -€3,010 | -42.6% |
| Trade debts | 44 | €3,692 | €2,517 | -€1,175 | -31.8% |
| Suppliers | 440/4 | €3,692 | €2,517 | -€1,175 | -31.8% |
| Taxes, remuneration and social security | 45 | €2,593 | €3,626 | +€1,033 | +39.9% |
| Taxes | 450/3 | €2,593 | €3,626 | +€1,033 | +39.9% |
| Other amounts payable | 47/48 | €47,718 | €63,174 | +€15,456 | +32.4% |
| Accrued charges and deferred income | 492/3 | - | €120 | +€120 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €245 | +€245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,388 | €9,986 | -€402 | -3.9% |
| Other operating charges | 640/8 | €216 | €134 | -€83 | -38.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €55,740 | €66,469 | +€10,729 | +19.2% |
| Operating profit (loss) | 9901 | €45,135 | €56,104 | +€10,968 | +24.3% |
| Financial income | 75/76B | €851 | €464 | -€387 | -45.4% |
| Recurring financial income | 75 | €851 | €464 | -€387 | -45.4% |
| Financial charges | 65/66B | €1,790 | €7,555 | +€5,765 | +322% |
| Recurring financial charges | 65 | €1,790 | €7,555 | +€5,765 | +322% |
| Profit (loss) for the period before taxes | 9903 | €44,197 | €49,013 | +€4,817 | +10.9% |
| Income taxes | 67/77 | €10,437 | €11,678 | +€1,240 | +11.9% |
| Profit (loss) for the period | 9904 | €33,759 | €37,335 | +€3,576 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,759 | €37,335 | +€3,576 | +10.6% |
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 16 October 2026 via checked.be.