Nascendi: 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.
Nascendi
Largest movements
- Stocks and contracts -€32,948
down €32,948 (-28.9%), from €113,898 to €80,951
- Cash +€13,310
up €13,310 (+88.6%), from €15,020 to €28,331
mainly Other debts (+€44,564) and Stocks and contracts (+€32,948)
- Receivables within one year +€11,015
up €11,015 (+34.8%), from €31,693 to €42,708
of which Trade receivables: +€10,099
- Intangible fixed assets -€5,780
down €5,780 (-12.5%), from €46,155 to €40,375
- Profit (loss) carried forward -€65,061
down €65,061 (-10.3%), from -€632,015 to -€697,076
- Other debts +€44,564
up €44,564 (+5.8%), from €764,065 to €808,629
- Trade debts +€12,892
up €12,892 (+26.2%), from €49,261 to €62,153
- Tax, wage and social debts -€6,887
down €6,887 (-63.1%), from €10,919 to €4,031
of which Remuneration and social security: -€5,348
- Gross operating margin +€36,687
up €36,687 (+59.2%), from -€61,980 to -€25,294
- Staff costs -€32,085
down €32,085 (-46.5%), from €69,015 to €36,930
- Depreciation -€3,873
down €3,873 (-36.1%), from €10,735 to €6,863
- Other operating charges -€1,510
down €1,510 (-75.4%), from €2,003 to €493
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 | €213,599 | €197,915 | -€15,684 | -7.3% |
| Fixed assets | 21/28 | €48,826 | €41,963 | -€6,863 | -14.1% |
| Intangible fixed assets | 21 | €46,155 | €40,375 | -€5,780 | -12.5% |
| Tangible fixed assets | 22/27 | €2,670 | €1,588 | -€1,082 | -40.5% |
| Furniture and vehicles | 24 | €2,670 | €1,588 | -€1,082 | -40.5% |
| Current assets | 29/58 | €164,774 | €155,952 | -€8,821 | -5.4% |
| Stocks and contracts in progress | 3 | €113,898 | €80,951 | -€32,948 | -28.9% |
| Stocks | 30/36 | €113,898 | €80,951 | -€32,948 | -28.9% |
| Amounts receivable within one year | 40/41 | €31,693 | €42,708 | +€11,015 | +34.8% |
| Trade receivables | 40 | €22,610 | €32,710 | +€10,099 | +44.7% |
| Other amounts receivable | 41 | €9,082 | €9,998 | +€916 | +10.1% |
| Cash at bank and in hand | 54/58 | €15,020 | €28,331 | +€13,310 | +88.6% |
| Deferred charges and accrued income | 490/1 | €4,162 | €3,963 | -€199 | -4.8% |
| Total equity and liabilities | 10/49 | €213,599 | €197,915 | -€15,684 | -7.3% |
| Equity | 10/15 | -€612,015 | -€677,076 | -€65,061 | -10.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€632,015 | -€697,076 | -€65,061 | -10.3% |
| Amounts payable | 17/49 | €825,614 | €874,992 | +€49,377 | +6.0% |
| Amounts payable within one year | 42/48 | €824,732 | €874,992 | +€50,260 | +6.1% |
| Trade debts | 44 | €49,261 | €62,153 | +€12,892 | +26.2% |
| Suppliers | 440/4 | €49,261 | €62,153 | +€12,892 | +26.2% |
| Advances received on contracts in progress | 46 | €487 | €179 | -€308 | -63.3% |
| Taxes, remuneration and social security | 45 | €10,919 | €4,031 | -€6,887 | -63.1% |
| Taxes | 450/3 | €2,179 | €640 | -€1,539 | -70.6% |
| Remuneration and social security | 454/9 | €8,739 | €3,391 | -€5,348 | -61.2% |
| Other amounts payable | 47/48 | €764,065 | €808,629 | +€44,564 | +5.8% |
| Accrued charges and deferred income | 492/3 | €883 | €0 | -€883 | -100% |
| Remuneration, social security and pensions | 62 | €69,015 | €36,930 | -€32,085 | -46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,735 | €6,863 | -€3,873 | -36.1% |
| Other operating charges | 640/8 | €2,003 | €493 | -€1,510 | -75.4% |
| Gross operating margin | 9900 | -€61,980 | -€25,294 | +€36,687 | +59.2% |
| Operating profit (loss) | 9901 | -€143,734 | -€69,579 | +€74,155 | +51.6% |
| Financial income | 75/76B | €4,418 | €4,883 | +€464 | +10.5% |
| Recurring financial income | 75 | €4,418 | €4,883 | +€464 | +10.5% |
| Financial charges | 65/66B | €490 | €365 | -€126 | -25.6% |
| Recurring financial charges | 65 | €490 | €365 | -€126 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | -€139,806 | -€65,061 | +€74,745 | +53.5% |
| Income taxes | 67/77 | €101 | €0 | -€101 | -100% |
| Profit (loss) for the period | 9904 | -€139,907 | -€65,061 | +€74,846 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€139,907 | -€65,061 | +€74,846 | +53.5% |
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 19 October 2026 via checked.be.