NARDUS: 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.
NARDUS
Largest movements
- Cash +€45,252
up €45,252 (+32.0%), from €141,632 to €186,884
mainly Net result for the year (+€61,583) and Other debts (+€19,773)
- Tangible fixed assets -€7,216
down €7,216 (-34.7%), from €20,788 to €13,572
of which Leasing and similar rights: -€9,370
- Receivables within one year +€4,137
up €4,137 (+10.0%), from €41,408 to €45,545
of which Trade receivables: +€3,967
- Profit (loss) carried forward +€31,582
up €31,582 (+18.7%), from €168,803 to €200,385
- Other debts +€19,773
up €19,773 (+320.2%), from €6,176 to €25,949
- Debts after one year -€9,533
down €9,533 (-92.3%), from €10,331 to €798
- Gross operating margin +€22,356
up €22,356 (+32.2%), from €69,455 to €91,811
- Taxes +€4,536
up €4,536 (+38.5%), from €11,794 to €16,330
- Financial charges +€2,162
up €2,162 (+546.0%), from €396 to €2,558
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 | €205,259 | €248,167 | +€42,908 | +20.9% |
| Fixed assets | 21/28 | €20,788 | €13,577 | -€7,211 | -34.7% |
| Tangible fixed assets | 22/27 | €20,788 | €13,572 | -€7,216 | -34.7% |
| Plant, machinery and equipment | 23 | - | €2,856 | +€2,856 | |
| Furniture and vehicles | 24 | €1,150 | €448 | -€702 | -61.0% |
| Leasing and similar rights | 25 | €19,638 | €10,268 | -€9,370 | -47.7% |
| Financial fixed assets | 28 | - | €5 | +€5 | |
| Current assets | 29/58 | €184,471 | €234,590 | +€50,119 | +27.2% |
| Amounts receivable within one year | 40/41 | €41,408 | €45,545 | +€4,137 | +10.0% |
| Trade receivables | 40 | €41,408 | €45,375 | +€3,967 | +9.6% |
| Other amounts receivable | 41 | - | €170 | +€170 | |
| Cash at bank and in hand | 54/58 | €141,632 | €186,884 | +€45,252 | +32.0% |
| Deferred charges and accrued income | 490/1 | €1,431 | €2,161 | +€730 | +51.0% |
| Total equity and liabilities | 10/49 | €205,259 | €248,167 | +€42,908 | +20.9% |
| Equity | 10/15 | €173,803 | €205,385 | +€31,582 | +18.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,803 | €200,385 | +€31,582 | +18.7% |
| Amounts payable | 17/49 | €31,456 | €42,781 | +€11,325 | +36.0% |
| Amounts payable after more than one year | 17 | €10,331 | €798 | -€9,533 | -92.3% |
| Financial debts | 170/4 | €10,331 | €798 | -€9,533 | -92.3% |
| Amounts payable within one year | 42/48 | €21,125 | €41,983 | +€20,858 | +98.7% |
| Current portion of amounts payable after more than one year | 42 | €9,447 | €9,533 | +€86 | +0.9% |
| Trade debts | 44 | €1,764 | €4,024 | +€2,260 | +128.1% |
| Suppliers | 440/4 | €1,764 | €4,024 | +€2,260 | +128.1% |
| Taxes, remuneration and social security | 45 | €3,738 | €2,477 | -€1,261 | -33.7% |
| Taxes | 450/3 | €3,738 | €2,477 | -€1,261 | -33.7% |
| Other amounts payable | 47/48 | €6,176 | €25,949 | +€19,773 | +320.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,071 | €10,330 | +€259 | +2.6% |
| Other operating charges | 640/8 | €786 | €1,009 | +€223 | +28.4% |
| Gross operating margin | 9900 | €69,455 | €91,811 | +€22,356 | +32.2% |
| Operating profit (loss) | 9901 | €58,598 | €80,471 | +€21,873 | +37.3% |
| Financial charges | 65/66B | €396 | €2,558 | +€2,162 | +546.0% |
| Recurring financial charges | 65 | €396 | €2,558 | +€2,162 | +546.0% |
| Profit (loss) for the period before taxes | 9903 | €58,202 | €77,913 | +€19,711 | +33.9% |
| Income taxes | 67/77 | €11,794 | €16,330 | +€4,536 | +38.5% |
| Profit (loss) for the period | 9904 | €46,408 | €61,583 | +€15,175 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,408 | €61,583 | +€15,175 | +32.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.