NAQI BELGIUM: what changed
What changed
NAQI BELGIUM
NACE 46.450, Wholesale of perfume and cosmetics
filed annual accounts (NBB)
Net result for the year
-€15,973
2024 · €43,426-€59,399
Equity
-€13,052
2024 · €2,921-€15,973
Cash
€22,461
2024 · €18,150+€4,311
Balance sheet total
€409,764
2024 · €495,730-€85,966
Largest movements
Assets
- Stocks and contracts -€53,706
down €53,706 (-21.8%), from €246,539 to €192,833
- Receivables within one year -€27,424
down €27,424 (-15.1%), from €182,129 to €154,705
of which Trade receivables: -€28,072
- Deferred charges and accrued income -€12,021
down €12,021 (-83.1%), from €14,458 to €2,437
- Intangible fixed assets +€10,745
up €10,745 (+487%), from €2,206 to €12,951
- Tangible fixed assets -€7,871
down €7,871 (-25.5%), from €30,823 to €22,953
of which Leasing and similar rights: -€5,787
Equity and liabilities
- Trade debts -€33,029
down €33,029 (-21.4%), from €154,279 to €121,250
- Tax, wage and social debts -€28,958
down €28,958 (-35.7%), from €81,226 to €52,268
of which Taxes: -€18,513
- Profit (loss) carried forward -€15,973
down €15,973 (-23.6%), from -€67,556 to -€83,529
Income statement
- Gross operating margin -€192,221
down €192,221 (-64.0%), from €300,151 to €107,930
- Staff costs -€133,788
down €133,788 (-57.9%), from €231,077 to €97,290
- Taxes -€8,968
down €8,968 (-100%), from €8,968 to €0
- Depreciation +€5,211
up €5,211 (+107%), from €4,859 to €10,070
- Other operating charges +€3,936
up €3,936 (+48.1%), from €8,190 to €12,126
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€43,426
Gross operating margin
-€192,221
Staff costs
+€133,788
Depreciation
-€5,211
Other operating charges
-€3,936
Financial income
-€20
Financial charges
-€766
Taxes
+€8,968
Result 2025
-€15,973
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€20,761
Investment
-€12,945
Financing
-€3,505
Cash 2024
€18,150
From operations (derived)
+€20,761
Net result for the year
-€15,973
Depreciation
+€10,070
Stocks and contracts
+€53,706
Receivables within one year
+€27,424
Deferred charges and accrued income
+€12,021
Trade debts
-€33,029
Tax, wage and social debts
-€28,958
Other debts
-€4,500
Investment (derived)
-€12,945
Investment in fixed assets (net)
-€12,945
Financing
-€3,505
Debts after one year
-€3,743
Current portion of long-term debt
+€238
Cash 2025
€22,461
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €495,730 | €409,764 | -€85,966 | -17.3% |
| Fixed assets | 21/28 | €34,454 | €37,329 | +€2,874 | +8.3% |
| Intangible fixed assets | 21 | €2,206 | €12,951 | +€10,745 | +487% |
| Tangible fixed assets | 22/27 | €30,823 | €22,953 | -€7,871 | -25.5% |
| Plant, machinery and equipment | 23 | €3,849 | €1,604 | -€2,246 | -58.3% |
| Furniture and vehicles | 24 | - | €162 | +€162 | |
| Leasing and similar rights | 25 | €26,974 | €21,187 | -€5,787 | -21.5% |
| Financial fixed assets | 28 | €1,425 | €1,425 | = | 0.0% |
| Current assets | 29/58 | €461,276 | €372,436 | -€88,840 | -19.3% |
| Stocks and contracts in progress | 3 | €246,539 | €192,833 | -€53,706 | -21.8% |
| Stocks | 30/36 | €246,539 | €192,833 | -€53,706 | -21.8% |
| Amounts receivable within one year | 40/41 | €182,129 | €154,705 | -€27,424 | -15.1% |
| Trade receivables | 40 | €154,925 | €126,854 | -€28,072 | -18.1% |
| Other amounts receivable | 41 | €27,203 | €27,851 | +€648 | +2.4% |
| Cash at bank and in hand | 54/58 | €18,150 | €22,461 | +€4,311 | +23.8% |
| Deferred charges and accrued income | 490/1 | €14,458 | €2,437 | -€12,021 | -83.1% |
| Total equity and liabilities | 10/49 | €495,730 | €409,764 | -€85,966 | -17.3% |
| Equity | 10/15 | €2,921 | -€13,052 | -€15,973 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €8,477 | €8,477 | = | 0.0% |
| Non-distributable reserves | 130/1 | €427 | €427 | = | 0.0% |
| Legal reserve | 130 | €427 | €427 | = | 0.0% |
| Distributable reserves | 133 | €8,050 | €8,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,556 | -€83,529 | -€15,973 | -23.6% |
| Amounts payable | 17/49 | €492,809 | €422,816 | -€69,992 | -14.2% |
| Amounts payable after more than one year | 17 | €245,527 | €241,784 | -€3,743 | -1.5% |
| Financial debts | 170/4 | €245,527 | €241,784 | -€3,743 | -1.5% |
| Amounts payable within one year | 42/48 | €247,281 | €181,032 | -€66,249 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €5,121 | €5,359 | +€238 | +4.6% |
| Trade debts | 44 | €154,279 | €121,250 | -€33,029 | -21.4% |
| Suppliers | 440/4 | €154,279 | €121,250 | -€33,029 | -21.4% |
| Taxes, remuneration and social security | 45 | €81,226 | €52,268 | -€28,958 | -35.7% |
| Taxes | 450/3 | €54,713 | €36,200 | -€18,513 | -33.8% |
| Remuneration and social security | 454/9 | €26,513 | €16,068 | -€10,445 | -39.4% |
| Other amounts payable | 47/48 | €6,656 | €2,156 | -€4,500 | -67.6% |
| Remuneration, social security and pensions | 62 | €231,077 | €97,290 | -€133,788 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,859 | €10,070 | +€5,211 | +107% |
| Other operating charges | 640/8 | €8,190 | €12,126 | +€3,936 | +48.1% |
| Gross operating margin | 9900 | €300,151 | €107,930 | -€192,221 | -64.0% |
| Operating profit (loss) | 9901 | €56,025 | -€11,556 | -€67,581 | |
| Financial income | 75/76B | €1,098 | €1,078 | -€20 | -1.8% |
| Recurring financial income | 75 | €1,098 | €1,078 | -€20 | -1.8% |
| Financial charges | 65/66B | €4,730 | €5,496 | +€766 | +16.2% |
| Recurring financial charges | 65 | €4,730 | €5,496 | +€766 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €52,394 | -€15,973 | -€68,367 | |
| Income taxes | 67/77 | €8,968 | €0 | -€8,968 | -100% |
| Profit (loss) for the period | 9904 | €43,426 | -€15,973 | -€59,399 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,426 | -€15,973 | -€59,399 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.