NASKO: 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.
NASKO
Largest movements
- Cash +€234,296
up €234,296 (+112%), from €208,277 to €442,573
mainly Net result for the year (+€176,538) and Other debts (+€150,812)
- Receivables within one year -€121,917
down €121,917 (-13.9%), from €878,282 to €756,366
of which Trade receivables: -€155,939
- Tangible fixed assets +€44,800
up €44,800 (+29.8%), from €150,325 to €195,124
of which Plant, machinery and equipment: +€67,000
- Other debts +€150,812
up €150,812 (+4,593%), from €3,283 to €154,095
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Tax, wage and social debts +€76,061
up €76,061 (+66.7%), from €114,080 to €190,142
of which Taxes: +€62,105
- Reserves +€22,000
up €22,000 (+6.0%), from €364,150 to €386,150
of which Distributable reserves: +€22,000
- Debts after one year -€15,444
down €15,444 (-18.0%), from €85,938 to €70,495
- Taxes +€37,741
up €37,741 (+88.2%), from €42,809 to €80,550
- Staff costs -€31,469
down €31,469 (-5.9%), from €529,887 to €498,417
- Gross operating margin +€31,421
up €31,421 (+3.7%), from €842,034 to €873,455
- Other operating charges +€11,353
up €11,353 (+71.2%), from €15,947 to €27,300
- Depreciation -€9,033
down €9,033 (-10.0%), from €90,514 to €81,481
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 | €1,260,041 | €1,414,222 | +€154,181 | +12.2% |
| Fixed assets | 21/28 | €165,730 | €210,529 | +€44,800 | +27.0% |
| Tangible fixed assets | 22/27 | €150,325 | €195,124 | +€44,800 | +29.8% |
| Plant, machinery and equipment | 23 | €30,360 | €97,360 | +€67,000 | +221% |
| Furniture and vehicles | 24 | €79,756 | €75,374 | -€4,382 | -5.5% |
| Leasing and similar rights | 25 | €37,804 | €20,906 | -€16,898 | -44.7% |
| Other tangible fixed assets | 26 | €2,405 | €1,485 | -€920 | -38.3% |
| Financial fixed assets | 28 | €15,405 | €15,405 | = | 0.0% |
| Current assets | 29/58 | €1,094,311 | €1,203,692 | +€109,381 | +10.0% |
| Amounts receivable within one year | 40/41 | €878,282 | €756,366 | -€121,917 | -13.9% |
| Trade receivables | 40 | €853,463 | €697,523 | -€155,939 | -18.3% |
| Other amounts receivable | 41 | €24,819 | €58,842 | +€34,023 | +137% |
| Cash at bank and in hand | 54/58 | €208,277 | €442,573 | +€234,296 | +112% |
| Deferred charges and accrued income | 490/1 | €7,752 | €4,754 | -€2,998 | -38.7% |
| Total equity and liabilities | 10/49 | €1,260,041 | €1,414,222 | +€154,181 | +12.2% |
| Equity | 10/15 | €383,080 | €405,619 | +€22,538 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €364,150 | €386,150 | +€22,000 | +6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,290 | €13,290 | = | 0.0% |
| Distributable reserves | 133 | €349,000 | €371,000 | +€22,000 | +6.3% |
| Profit (loss) carried forward | 14 | €330 | €869 | +€538 | +163% |
| Amounts payable | 17/49 | €876,960 | €1,008,603 | +€131,643 | +15.0% |
| Amounts payable after more than one year | 17 | €85,938 | €70,495 | -€15,444 | -18.0% |
| Financial debts | 170/4 | €85,938 | €70,495 | -€15,444 | -18.0% |
| Amounts payable within one year | 42/48 | €791,022 | €938,108 | +€147,086 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €53,138 | €63,520 | +€10,382 | +19.5% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €520,520 | €530,352 | +€9,831 | +1.9% |
| Suppliers | 440/4 | €520,520 | €530,352 | +€9,831 | +1.9% |
| Taxes, remuneration and social security | 45 | €114,080 | €190,142 | +€76,061 | +66.7% |
| Taxes | 450/3 | €61,392 | €123,498 | +€62,105 | +101% |
| Remuneration and social security | 454/9 | €52,688 | €66,644 | +€13,956 | +26.5% |
| Other amounts payable | 47/48 | €3,283 | €154,095 | +€150,812 | +4,593% |
| Remuneration, social security and pensions | 62 | €529,887 | €498,417 | -€31,469 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,514 | €81,481 | -€9,033 | -10.0% |
| Other operating charges | 640/8 | €15,947 | €27,300 | +€11,353 | +71.2% |
| Gross operating margin | 9900 | €842,034 | €873,455 | +€31,421 | +3.7% |
| Operating profit (loss) | 9901 | €205,686 | €266,256 | +€60,570 | +29.4% |
| Financial income | 75/76B | €5,373 | €12,934 | +€7,561 | +141% |
| Recurring financial income | 75 | €1,397 | €352 | -€1,045 | -74.8% |
| Non-recurring financial income | 76B | €3,976 | €12,582 | +€8,606 | +216% |
| Financial charges | 65/66B | €19,406 | €22,102 | +€2,696 | +13.9% |
| Recurring financial charges | 65 | €19,406 | €15,032 | -€4,375 | -22.5% |
| Non-recurring financial charges | 66B | - | €7,070 | +€7,070 | |
| Profit (loss) for the period before taxes | 9903 | €191,652 | €257,088 | +€65,436 | +34.1% |
| Income taxes | 67/77 | €42,809 | €80,550 | +€37,741 | +88.2% |
| Profit (loss) for the period | 9904 | €148,843 | €176,538 | +€27,695 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €148,843 | €176,538 | +€27,695 | +18.6% |
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 20 October 2026 via checked.be.