NANDO: 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.
NANDO
Largest movements
- Cash -€173,039
down €173,039 (-68.0%), from €254,352 to €81,313
mainly Contributions, distributions and other (-€135,714) and Net result for the year (-€73,203)
- Tangible fixed assets -€26,405
down €26,405 (-11.6%), from €228,025 to €201,620
of which Land and buildings: -€19,186
- Reserves -€170,000
down €170,000 (-9.4%), from €1.8m to €1.6m
of which Distributable reserves: -€170,000
- Profit (loss) carried forward -€38,917
down €38,917 (-71.9%), from €54,124 to €15,207
- Purchases and services -€75,007
down €75,007 (-39.2%), from €191,280 to €116,273
- Taxes +€51,403
up €51,403, from -€47,854 to €3,549
- Financial income -€24,076
down €24,076 (-70.6%), from €34,113 to €10,037
- Gross operating margin +€14,300
up €14,300 (+24.9%), from -€57,372 to -€43,072
- Depreciation -€10,596
down €10,596 (-26.2%), from €40,368 to €29,772
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 | €1,926,291 | €1,719,670 | -€206,621 | -10.7% |
| Fixed assets | 21/28 | €228,025 | €201,620 | -€26,405 | -11.6% |
| Tangible fixed assets | 22/27 | €228,025 | €201,620 | -€26,405 | -11.6% |
| Land and buildings | 22 | €212,669 | €193,483 | -€19,186 | -9.0% |
| Furniture and vehicles | 24 | €15,356 | €8,137 | -€7,219 | -47.0% |
| Current assets | 29/58 | €1,698,266 | €1,518,050 | -€180,216 | -10.6% |
| Amounts receivable within one year | 40/41 | €5,906 | €7,608 | +€1,702 | +28.8% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €5,906 | €4,608 | -€1,298 | -22.0% |
| Current investments | 50/53 | €1,438,008 | €1,429,129 | -€8,879 | -0.6% |
| Cash at bank and in hand | 54/58 | €254,352 | €81,313 | -€173,039 | -68.0% |
| Total equity and liabilities | 10/49 | €1,926,291 | €1,719,670 | -€206,621 | -10.7% |
| Equity | 10/15 | €1,924,780 | €1,715,863 | -€208,917 | -10.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Revaluation surpluses | 12 | €2,456 | €2,456 | = | 0.0% |
| Reserves | 13 | €1,806,200 | €1,636,200 | -€170,000 | -9.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Other | 1319 | €6,200 | - | -€6,200 | |
| Distributable reserves | 133 | €1,800,000 | €1,630,000 | -€170,000 | -9.4% |
| Profit (loss) carried forward | 14 | €54,124 | €15,207 | -€38,917 | -71.9% |
| Amounts payable | 17/49 | €1,511 | €3,807 | +€2,296 | +152.0% |
| Amounts payable within one year | 42/48 | €1,511 | €3,807 | +€2,296 | +152.0% |
| Trade debts | 44 | €1,511 | €1,585 | +€74 | +4.9% |
| Suppliers | 440/4 | €1,511 | €1,585 | +€74 | +4.9% |
| Taxes, remuneration and social security | 45 | - | €2,222 | +€2,222 | |
| Taxes | 450/3 | - | €2,037 | +€2,037 | |
| Remuneration and social security | 454/9 | - | €185 | +€185 | |
| Turnover | 70 | €71,925 | €70,722 | -€1,203 | -1.7% |
| Non-recurring operating income | 76A | €61,983 | €2,479 | -€59,504 | -96.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €191,280 | €116,273 | -€75,007 | -39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,368 | €29,772 | -€10,596 | -26.2% |
| Other operating charges | 640/8 | €11,079 | €6,766 | -€4,313 | -38.9% |
| Gross operating margin | 9900 | -€57,372 | -€43,072 | +€14,300 | +24.9% |
| Operating profit (loss) | 9901 | -€108,819 | -€79,610 | +€29,209 | +26.8% |
| Financial income | 75/76B | €34,113 | €10,037 | -€24,076 | -70.6% |
| Recurring financial income | 75 | €34,113 | €10,037 | -€24,076 | -70.6% |
| Financial charges | 65/66B | €2,413 | €81 | -€2,332 | -96.6% |
| Recurring financial charges | 65 | €2,413 | €81 | -€2,332 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | -€77,119 | -€69,654 | +€7,465 | +9.7% |
| Income taxes | 67/77 | -€47,854 | €3,549 | +€51,403 | |
| Profit (loss) for the period | 9904 | -€29,265 | -€73,203 | -€43,938 | -150.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,265 | -€73,203 | -€43,938 | -150.1% |
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 5 October 2026 via checked.be.