NANO: 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.
NANO
Largest movements
- Receivables after one year -€58,144
down €58,144 (-23.4%), from €248,128 to €189,984
- Cash +€31,830
up €31,830 (+21.2%), from €150,254 to €182,083
mainly Receivables after one year (+€58,144) and Net result for the year (+€44,280)
- Deferred charges and accrued income +€8,082
up €8,082 (+1091.8%), from €740 to €8,822
- Receivables within one year -€6,055
down €6,055 (-24.2%), from €25,000 to €18,945
of which Trade receivables: -€11,206
- Reserves -€62,747
down €62,747 (-13.8%), from €456,123 to €393,377
of which Distributable reserves: -€62,747
- Other debts +€36,589
up €36,589 (+48.5%), from €75,477 to €112,066
- Gross operating margin -€12,485
down €12,485 (-16.8%), from €74,161 to €61,676
- Taxes -€3,606
down €3,606 (-13.0%), from €27,753 to €24,147
- Financial income -€1,039
down €1,039 (-8.5%), from €12,240 to €11,201
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 | €563,602 | €540,101 | -€23,500 | -4.2% |
| Fixed assets | 21/28 | €2,092 | €2,879 | +€787 | +37.6% |
| Tangible fixed assets | 22/27 | €2,092 | €2,879 | +€787 | +37.6% |
| Furniture and vehicles | 24 | €2,092 | €2,879 | +€787 | +37.6% |
| Current assets | 29/58 | €561,510 | €537,222 | -€24,288 | -4.3% |
| Amounts receivable after more than one year | 29 | €248,128 | €189,984 | -€58,144 | -23.4% |
| Other amounts receivable | 291 | €248,128 | €189,984 | -€58,144 | -23.4% |
| Amounts receivable within one year | 40/41 | €25,000 | €18,945 | -€6,055 | -24.2% |
| Trade receivables | 40 | €25,000 | €13,794 | -€11,206 | -44.8% |
| Other amounts receivable | 41 | €0 | €5,151 | +€5,151 | |
| Current investments | 50/53 | €137,388 | €137,388 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,254 | €182,083 | +€31,830 | +21.2% |
| Deferred charges and accrued income | 490/1 | €740 | €8,822 | +€8,082 | +1091.8% |
| Total equity and liabilities | 10/49 | €563,602 | €540,101 | -€23,500 | -4.2% |
| Equity | 10/15 | €462,447 | €399,701 | -€62,747 | -13.6% |
| Contributions | 10/11 | €6,324 | €6,324 | = | 0.0% |
| Reserves | 13 | €456,123 | €393,377 | -€62,747 | -13.8% |
| Tax-exempt reserves | 132 | €11,802 | €11,802 | = | 0.0% |
| Distributable reserves | 133 | €444,322 | €381,575 | -€62,747 | -14.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €101,154 | €140,400 | +€39,246 | +38.8% |
| Amounts payable within one year | 42/48 | €101,154 | €140,400 | +€39,246 | +38.8% |
| Trade debts | 44 | €215 | €1,320 | +€1,106 | +515.2% |
| Suppliers | 440/4 | €215 | €1,320 | +€1,106 | +515.2% |
| Taxes, remuneration and social security | 45 | €25,463 | €27,015 | +€1,552 | +6.1% |
| Taxes | 450/3 | €25,463 | €27,015 | +€1,552 | +6.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €75,477 | €112,066 | +€36,589 | +48.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €3,200 | €0 | -€3,200 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,482 | €1,821 | -€661 | -26.6% |
| Other operating charges | 640/8 | €1,381 | €1,460 | +€79 | +5.7% |
| Gross operating margin | 9900 | €74,161 | €61,676 | -€12,485 | -16.8% |
| Operating profit (loss) | 9901 | €70,298 | €58,394 | -€11,904 | -16.9% |
| Financial income | 75/76B | €12,240 | €11,201 | -€1,039 | -8.5% |
| Recurring financial income | 75 | €12,240 | €11,201 | -€1,039 | -8.5% |
| Financial charges | 65/66B | €1,741 | €1,167 | -€573 | -32.9% |
| Recurring financial charges | 65 | €1,741 | €1,167 | -€573 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €80,797 | €68,427 | -€12,370 | -15.3% |
| Income taxes | 67/77 | €27,753 | €24,147 | -€3,606 | -13.0% |
| Profit (loss) for the period | 9904 | €53,044 | €44,280 | -€8,764 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,044 | €44,280 | -€8,764 | -16.5% |
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 7 October 2026 via checked.be.