NASCA: what changed
Two financial 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.
NASCA
Largest movements
- Tangible fixed assets -€43,701
down €43,701 (-7.7%), from €565,566 to €521,866
- Cash -€12,307
down €12,307 (-61.4%), from €20,057 to €7,750
mainly Net result for the year (-€28,249) and Debts after one year (-€21,890)
- Profit (loss) carried forward -€28,249
down €28,249 (-77.0%), from -€36,679 to -€64,929
- Debts after one year -€21,890
down €21,890 (-4.7%), from €470,350 to €448,460
- Gross operating margin -€18,143
down €18,143 (-31.5%), from €57,620 to €39,477
- Financial charges -€4,302
down €4,302 (-16.9%), from €25,495 to €21,193
- Depreciation +€1,780
up €1,780 (+4.2%), from €42,441 to €44,222
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.
Derived cash bridge
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 | €601,142 | €549,975 | -€51,167 | -8.5% |
| Fixed assets | 21/28 | €565,676 | €521,976 | -€43,701 | -7.7% |
| Tangible fixed assets | 22/27 | €565,566 | €521,866 | -€43,701 | -7.7% |
| Land and buildings | 22 | €501,024 | €479,924 | -€21,100 | -4.2% |
| Plant, machinery and equipment | 23 | €45,702 | €34,935 | -€10,767 | -23.6% |
| Furniture and vehicles | 24 | €18,192 | €6,521 | -€11,672 | -64.2% |
| Other tangible fixed assets | 26 | €649 | €486 | -€162 | -25.0% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €35,466 | €27,999 | -€7,466 | -21.1% |
| Amounts receivable within one year | 40/41 | €13,197 | €18,603 | +€5,407 | +41.0% |
| Trade receivables | 40 | €8,171 | €12,211 | +€4,041 | +49.4% |
| Other amounts receivable | 41 | €5,026 | €6,392 | +€1,366 | +27.2% |
| Cash at bank and in hand | 54/58 | €20,057 | €7,750 | -€12,307 | -61.4% |
| Deferred charges and accrued income | 490/1 | €2,212 | €1,646 | -€565 | -25.6% |
| Total equity and liabilities | 10/49 | €601,142 | €549,975 | -€51,167 | -8.5% |
| Equity | 10/15 | €109,653 | €81,404 | -€28,249 | -25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,732 | €127,732 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,672 | €12,672 | = | 0.0% |
| Distributable reserves | 133 | €115,060 | €115,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,679 | -€64,929 | -€28,249 | -77.0% |
| Amounts payable | 17/49 | €491,489 | €468,571 | -€22,917 | -4.7% |
| Amounts payable after more than one year | 17 | €470,350 | €448,460 | -€21,890 | -4.7% |
| Financial debts | 170/4 | €470,350 | €448,460 | -€21,890 | -4.7% |
| Amounts payable within one year | 42/48 | €21,139 | €20,111 | -€1,028 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €4,766 | €4,987 | +€221 | +4.6% |
| Trade debts | 44 | €2,098 | €3,094 | +€996 | +47.5% |
| Suppliers | 440/4 | €2,098 | €3,094 | +€996 | +47.5% |
| Taxes, remuneration and social security | 45 | €13,889 | €10,859 | -€3,030 | -21.8% |
| Taxes | 450/3 | €13,889 | €10,859 | -€3,030 | -21.8% |
| Other amounts payable | 47/48 | €386 | €1,172 | +€785 | +203% |
| Non-recurring operating income | 76A | €4,600 | - | -€4,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,441 | €44,222 | +€1,780 | +4.2% |
| Other operating charges | 640/8 | €2,294 | €2,367 | +€73 | +3.2% |
| Gross operating margin | 9900 | €57,620 | €39,477 | -€18,143 | -31.5% |
| Operating profit (loss) | 9901 | €12,884 | -€7,112 | -€19,996 | |
| Financial income | 75/76B | €86 | €55 | -€31 | -35.5% |
| Recurring financial income | 75 | €86 | €55 | -€31 | -35.5% |
| Financial charges | 65/66B | €25,495 | €21,193 | -€4,302 | -16.9% |
| Recurring financial charges | 65 | €25,495 | €21,193 | -€4,302 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,525 | -€28,249 | -€15,724 | -126% |
| Profit (loss) for the period | 9904 | -€12,525 | -€28,249 | -€15,724 | -126% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,525 | -€28,249 | -€15,724 | -126% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.