NASH: 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.
NASH
Largest movements
- Current investments +€40,326
new in 2025: €40,326
- Financial fixed assets +€20,000
new in 2025: €20,000
- Receivables within one year +€8,602
up €8,602 (+463.8%), from €1,855 to €10,457
of which Trade receivables: +€10,437
- Cash -€7,888
down €7,888 (-18.3%), from €43,176 to €35,289
mainly Current investments (-€40,326) and Investment in fixed assets (net) (-€19,257)
- Tangible fixed assets -€2,506
down €2,506 (-49.5%), from €5,058 to €2,552
of which Furniture and vehicles: -€1,358
- Reserves +€25,006
up €25,006 (+268.1%), from €9,327 to €34,333
- Debts after one year +€20,000
new in 2025: €20,000
- Other debts +€12,475
up €12,475 (+105.0%), from €11,881 to €24,356
- Tax, wage and social debts +€3,676
up €3,676 (+48.0%), from €7,663 to €11,339
- Current portion of long-term debt -€2,085
no longer reported in 2025 (was €2,085)
- Gross operating margin +€13,441
up €13,441 (+40.7%), from €33,018 to €46,458
- Taxes +€6,899
up €6,899 (+112.3%), from €6,143 to €13,042
- Depreciation -€6,819
down €6,819 (-79.5%), from €8,583 to €1,763
- Financial income +€469
new in 2025: €469
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 | €50,949 | €109,479 | +€58,530 | +114.9% |
| Fixed assets | 21/28 | €5,058 | €22,552 | +€17,494 | +345.9% |
| Tangible fixed assets | 22/27 | €5,058 | €2,552 | -€2,506 | -49.5% |
| Furniture and vehicles | 24 | €3,909 | €2,552 | -€1,358 | -34.7% |
| Other tangible fixed assets | 26 | €1,148 | - | -€1,148 | |
| Financial fixed assets | 28 | - | €20,000 | +€20,000 | |
| Current assets | 29/58 | €45,892 | €86,928 | +€41,036 | +89.4% |
| Amounts receivable within one year | 40/41 | €1,855 | €10,457 | +€8,602 | +463.8% |
| Trade receivables | 40 | - | €10,437 | +€10,437 | |
| Other amounts receivable | 41 | €1,855 | €20 | -€1,835 | -98.9% |
| Current investments | 50/53 | - | €40,326 | +€40,326 | |
| Cash at bank and in hand | 54/58 | €43,176 | €35,289 | -€7,888 | -18.3% |
| Deferred charges and accrued income | 490/1 | €860 | €856 | -€4 | -0.5% |
| Total equity and liabilities | 10/49 | €50,949 | €109,479 | +€58,530 | +114.9% |
| Equity | 10/15 | €27,927 | €52,933 | +€25,006 | +89.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,327 | €34,333 | +€25,006 | +268.1% |
| Distributable reserves | 133 | €9,327 | €34,333 | +€25,006 | +268.1% |
| Amounts payable | 17/49 | €23,022 | €56,546 | +€33,524 | +145.6% |
| Amounts payable after more than one year | 17 | - | €20,000 | +€20,000 | |
| Financial debts | 170/4 | - | €20,000 | +€20,000 | |
| Amounts payable within one year | 42/48 | €23,022 | €36,546 | +€13,524 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €2,085 | - | -€2,085 | |
| Trade debts | 44 | €1,393 | €851 | -€542 | -38.9% |
| Suppliers | 440/4 | €1,393 | €851 | -€542 | -38.9% |
| Taxes, remuneration and social security | 45 | €7,663 | €11,339 | +€3,676 | +48.0% |
| Taxes | 450/3 | €7,663 | €11,339 | +€3,676 | +48.0% |
| Other amounts payable | 47/48 | €11,881 | €24,356 | +€12,475 | +105.0% |
| Non-recurring operating income | 76A | - | €9,324 | +€9,324 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,583 | €1,763 | -€6,819 | -79.5% |
| Other operating charges | 640/8 | €893 | €736 | -€157 | -17.6% |
| Gross operating margin | 9900 | €33,018 | €46,458 | +€13,441 | +40.7% |
| Operating profit (loss) | 9901 | €23,542 | €43,959 | +€20,417 | +86.7% |
| Financial income | 75/76B | - | €469 | +€469 | |
| Recurring financial income | 75 | - | €469 | +€469 | |
| Financial charges | 65/66B | €278 | €380 | +€102 | +36.5% |
| Recurring financial charges | 65 | €278 | €380 | +€102 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €23,264 | €44,048 | +€20,785 | +89.3% |
| Income taxes | 67/77 | €6,143 | €13,042 | +€6,899 | +112.3% |
| Profit (loss) for the period | 9904 | €17,120 | €31,006 | +€13,886 | +81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,120 | €31,006 | +€13,886 | +81.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.