NASER SARACI: 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.
NASER SARACI
Largest movements
- Receivables within one year +€42,115
up €42,115 (+467%), from €9,026 to €51,141
of which Trade receivables: +€42,158
- Stocks and contracts +€35,331
up €35,331 (+14.4%), from €245,001 to €280,332
- Cash +€16,372
up €16,372 (+83.0%), from €19,718 to €36,091
mainly Net result for the year (+€54,221) and Other debts (+€42,893)
- Reserves +€54,221
up €54,221 (+84.0%), from €64,548 to €118,769
- Other debts +€42,893
up €42,893 (+26.2%), from €163,421 to €206,314
- Tax, wage and social debts +€23,533
up €23,533 (+2,453%), from €960 to €24,492
of which Taxes: +€20,158
- Trade debts -€23,271
down €23,271 (-48.6%), from €47,879 to €24,608
- Gross operating margin +€24,067
up €24,067 (+39.3%), from €61,206 to €85,273
- Taxes +€19,149
up €19,149 (+1,996%), from €960 to €20,108
- Financial charges -€2,910
down €2,910 (-41.1%), from €7,080 to €4,170
- Depreciation +€1,091
up €1,091 (+24.2%), from €4,516 to €5,607
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 | €281,143 | €377,183 | +€96,039 | +34.2% |
| Fixed assets | 21/28 | €7,134 | €9,444 | +€2,310 | +32.4% |
| Tangible fixed assets | 22/27 | €7,134 | €9,444 | +€2,310 | +32.4% |
| Plant, machinery and equipment | 23 | €1,532 | €7,504 | +€5,973 | +390% |
| Furniture and vehicles | 24 | €5,602 | €1,939 | -€3,663 | -65.4% |
| Current assets | 29/58 | €274,010 | €367,739 | +€93,729 | +34.2% |
| Stocks and contracts in progress | 3 | €245,001 | €280,332 | +€35,331 | +14.4% |
| Stocks | 30/36 | €245,001 | €280,332 | +€35,331 | +14.4% |
| Amounts receivable within one year | 40/41 | €9,026 | €51,141 | +€42,115 | +467% |
| Trade receivables | 40 | €4,958 | €47,116 | +€42,158 | +850% |
| Other amounts receivable | 41 | €4,068 | €4,025 | -€43 | -1.1% |
| Cash at bank and in hand | 54/58 | €19,718 | €36,091 | +€16,372 | +83.0% |
| Deferred charges and accrued income | 490/1 | €264 | €176 | -€89 | -33.5% |
| Total equity and liabilities | 10/49 | €281,143 | €377,183 | +€96,039 | +34.2% |
| Equity | 10/15 | €67,548 | €121,769 | +€54,221 | +80.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,548 | €118,769 | +€54,221 | +84.0% |
| Distributable reserves | 133 | €64,548 | €118,769 | +€54,221 | +84.0% |
| Amounts payable | 17/49 | €213,595 | €255,414 | +€41,819 | +19.6% |
| Amounts payable within one year | 42/48 | €213,393 | €255,414 | +€42,020 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €1,134 | - | -€1,134 | |
| Trade debts | 44 | €47,879 | €24,608 | -€23,271 | -48.6% |
| Suppliers | 440/4 | €47,879 | €24,608 | -€23,271 | -48.6% |
| Taxes, remuneration and social security | 45 | €960 | €24,492 | +€23,533 | +2,453% |
| Taxes | 450/3 | €960 | €21,117 | +€20,158 | +2,101% |
| Remuneration and social security | 454/9 | - | €3,375 | +€3,375 | |
| Other amounts payable | 47/48 | €163,421 | €206,314 | +€42,893 | +26.2% |
| Accrued charges and deferred income | 492/3 | €202 | - | -€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,516 | €5,607 | +€1,091 | +24.2% |
| Other operating charges | 640/8 | €807 | €1,167 | +€360 | +44.6% |
| Gross operating margin | 9900 | €61,206 | €85,273 | +€24,067 | +39.3% |
| Operating profit (loss) | 9901 | €55,882 | €78,498 | +€22,616 | +40.5% |
| Financial income | 75/76B | €540 | €1 | -€540 | -99.9% |
| Recurring financial income | 75 | €540 | €1 | -€540 | -99.9% |
| Financial charges | 65/66B | €7,080 | €4,170 | -€2,910 | -41.1% |
| Recurring financial charges | 65 | €7,080 | €4,170 | -€2,910 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €49,343 | €74,329 | +€24,986 | +50.6% |
| Income taxes | 67/77 | €960 | €20,108 | +€19,149 | +1,996% |
| Profit (loss) for the period | 9904 | €48,383 | €54,221 | +€5,837 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,383 | €54,221 | +€5,837 | +12.1% |
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 23 October 2026 via checked.be.