NANUK: 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.
What changed
NANUK
NACE 46.389, Wholesale of other food products
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€498,621
2025 · €334,319+€164,302
Equity
€571,913
2025 · €88,202+€483,711
Cash
€24,788
2025 · €4,847+€19,941
Balance sheet total
€7.2m
2025 · €7.3m-€134,499
Largest movements
Assets
- Tangible fixed assets -€425,391
down €425,391 (-9.0%), from €4.7m to €4.3m
of which Plant, machinery and equipment: -€240,898
- Stocks and contracts +€153,090
up €153,090 (+11.3%), from €1.4m to €1.5m
- Receivables within one year +€112,634
up €112,634 (+9.7%), from €1.2m to €1.3m
of which Trade receivables: +€74,894
Equity and liabilities
- Profit (loss) carried forward +€498,621
up €498,621 (+10.5%), from -€4.7m to -€4.2m
- Debts after one year -€469,462
down €469,462 (-15.7%), from €3.0m to €2.5m
- Trade debts -€167,263
down €167,263 (-11.6%), from €1.4m to €1.3m
- Short-term financial debts +€139,769
up €139,769 (+7.8%), from €1.8m to €1.9m
- Current portion of long-term debt -€116,885
down €116,885 (-17.8%), from €657,811 to €540,926
Income statement
- Turnover +€176,343
up €176,343 (+1.5%), from €12.0m to €12.1m
From the 2025 result to the 2026 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.
Result 2025
€334,319
Turnover
+€176,343
Other operating income
-€16,034
Goods and materials
+€12,492
Services and other goods
-€44,277
Staff costs
+€34,253
Depreciation
+€32,559
Write-downs
-€37,800
Other operating charges
+€1,103
Other operating items
-€38,396
Financial income
+€1,298
Financial charges
+€43,003
Taxes
-€244
Result 2026
€498,621
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€550,878
Investment
-€69,450
Financing
-€461,487
Cash 2025
€4,847
From operations (derived)
+€550,878
Net result for the year
+€498,621
Depreciation
+€489,288
Stocks and contracts
-€153,090
Receivables within one year
-€112,634
Deferred charges and accrued income
+€327
Trade debts
-€167,263
Tax, wage and social debts
-€36,289
Accrued charges and deferred income
+€31,918
Investment (derived)
-€69,450
Investment in fixed assets (net)
-€69,450
Financing
-€461,487
Debts after one year
-€469,462
Current portion of long-term debt
-€116,885
Short-term financial debts
+€139,769
Contributions, distributions and other
-€14,910
Cash 2026
€24,788
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,301,566 | €7,167,066 | -€134,499 | -1.8% |
| Fixed assets | 21/28 | €4,770,783 | €4,350,945 | -€419,838 | -8.8% |
| Intangible fixed assets | 21 | €33,845 | €39,398 | +€5,554 | +16.4% |
| Tangible fixed assets | 22/27 | €4,719,887 | €4,294,496 | -€425,391 | -9.0% |
| Land and buildings | 22 | €3,793,735 | €3,653,313 | -€140,422 | -3.7% |
| Plant, machinery and equipment | 23 | €829,056 | €588,158 | -€240,898 | -29.1% |
| Furniture and vehicles | 24 | €67,643 | €53,024 | -€14,619 | -21.6% |
| Leasing and similar rights | 25 | €29,452 | €0 | -€29,452 | -100.0% |
| Financial fixed assets | 28 | €17,051 | €17,051 | = | 0.0% |
| Other financial fixed assets | 284/8 | €17,051 | €17,051 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €17,051 | €17,051 | = | 0.0% |
| Current assets | 29/58 | €2,530,783 | €2,816,122 | +€285,339 | +11.3% |
| Stocks and contracts in progress | 3 | €1,355,506 | €1,508,597 | +€153,090 | +11.3% |
| Stocks | 30/36 | €1,355,506 | €1,508,597 | +€153,090 | +11.3% |
| Raw materials and consumables | 30/31 | €357,475 | €424,346 | +€66,871 | +18.7% |
| Work in progress | 32 | €95,813 | €148,009 | +€52,196 | +54.5% |
| Finished goods | 33 | €551,631 | €586,333 | +€34,702 | +6.3% |
| Goods purchased for resale | 34 | €350,587 | €349,909 | -€678 | -0.2% |
| Amounts receivable within one year | 40/41 | €1,165,887 | €1,278,521 | +€112,634 | +9.7% |
| Trade receivables | 40 | €998,212 | €1,073,106 | +€74,894 | +7.5% |
| Other amounts receivable | 41 | €167,675 | €205,415 | +€37,740 | +22.5% |
| Cash at bank and in hand | 54/58 | €4,847 | €24,788 | +€19,941 | +411.4% |
| Deferred charges and accrued income | 490/1 | €4,543 | €4,216 | -€327 | -7.2% |
| Total equity and liabilities | 10/49 | €7,301,566 | €7,167,066 | -€134,499 | -1.8% |
| Equity | 10/15 | €88,202 | €571,913 | +€483,711 | +548.4% |
| Contributions | 10/11 | €4,388,798 | €4,388,798 | = | 0.0% |
| Capital | 10 | €4,388,798 | €4,388,798 | = | 0.0% |
| Issued capital | 100 | €4,388,798 | €4,388,798 | = | 0.0% |
| Reserves | 13 | €48,447 | €48,447 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,532 | €38,532 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,726,573 | -€4,227,953 | +€498,621 | +10.5% |
| Investment grants | 15 | €377,530 | €362,620 | -€14,910 | -3.9% |
| Amounts payable | 17/49 | €7,213,364 | €6,595,154 | -€618,210 | -8.6% |
| Amounts payable after more than one year | 17 | €2,995,529 | €2,526,067 | -€469,462 | -15.7% |
| Financial debts | 170/4 | €2,995,529 | €2,526,067 | -€469,462 | -15.7% |
| Subordinated loans | 170 | €354,476 | €242,990 | -€111,487 | -31.5% |
| Leasing and similar obligations | 172 | €85,071 | €30,269 | -€54,802 | -64.4% |
| Credit institutions | 173 | €1,367,932 | €1,062,322 | -€305,610 | -22.3% |
| Other loans | 174 | €1,188,049 | €1,190,486 | +€2,437 | +0.2% |
| Amounts payable within one year | 42/48 | €4,209,993 | €4,029,326 | -€180,667 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €657,811 | €540,926 | -€116,885 | -17.8% |
| Financial debts | 43 | €1,802,254 | €1,942,023 | +€139,769 | +7.8% |
| Credit institutions | 430/8 | €1,802,254 | €1,942,023 | +€139,769 | +7.8% |
| Trade debts | 44 | €1,445,580 | €1,278,317 | -€167,263 | -11.6% |
| Suppliers | 440/4 | €1,445,580 | €1,278,317 | -€167,263 | -11.6% |
| Taxes, remuneration and social security | 45 | €304,348 | €268,060 | -€36,289 | -11.9% |
| Taxes | 450/3 | €14,870 | €9,062 | -€5,807 | -39.1% |
| Remuneration and social security | 454/9 | €289,479 | €258,997 | -€30,481 | -10.5% |
| Accrued charges and deferred income | 492/3 | €7,842 | €39,760 | +€31,918 | +407.0% |
| Operating income | 70/76A | €12,131,366 | €12,246,555 | +€115,189 | +0.9% |
| Turnover | 70 | €11,958,478 | €12,134,821 | +€176,343 | +1.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €132,018 | €86,898 | -€45,120 | -34.2% |
| Other operating income | 74 | €40,870 | €24,836 | -€16,034 | -39.2% |
| Operating charges | 60/66A | €11,523,048 | €11,517,992 | -€5,056 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €6,415,655 | €6,403,163 | -€12,492 | -0.2% |
| Purchases | 600/8 | €6,519,131 | €6,512,612 | -€6,519 | -0.1% |
| Change in stocks: decrease (increase) | 609 | -€103,476 | -€109,449 | -€5,973 | -5.8% |
| Services and other goods | 61 | €2,753,002 | €2,797,279 | +€44,277 | +1.6% |
| Remuneration, social security and pensions | 62 | €1,757,902 | €1,723,649 | -€34,253 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €521,847 | €489,288 | -€32,559 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,457 | €43,256 | +€37,800 | +692.7% |
| Other operating charges | 640/8 | €62,461 | €61,358 | -€1,103 | -1.8% |
| Non-recurring operating charges | 66A | €6,725 | €0 | -€6,725 | -100.0% |
| Operating profit (loss) | 9901 | €608,318 | €728,563 | +€120,245 | +19.8% |
| Financial income | 75/76B | €15,784 | €17,083 | +€1,298 | +8.2% |
| Recurring financial income | 75 | €15,784 | €17,083 | +€1,298 | +8.2% |
| Income from financial fixed assets | 750 | €875 | €0 | -€875 | -100.0% |
| Other financial income | 752/9 | €14,910 | €17,083 | +€2,173 | +14.6% |
| Financial charges | 65/66B | €289,515 | €246,512 | -€43,003 | -14.9% |
| Recurring financial charges | 65 | €289,515 | €246,512 | -€43,003 | -14.9% |
| Debt charges | 650 | €278,341 | €230,947 | -€47,394 | -17.0% |
| Other financial charges | 652/9 | €11,175 | €15,565 | +€4,390 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €334,587 | €499,133 | +€164,547 | +49.2% |
| Income taxes | 67/77 | €268 | €513 | +€244 | +91.1% |
| Taxes | 670/3 | €268 | €513 | +€244 | +91.1% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €334,319 | €498,621 | +€164,302 | +49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €334,319 | €498,621 | +€164,302 | +49.1% |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.