Nations Avenue Group: 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.
Nations Avenue Group
Largest movements
- Stocks and contracts +€187,222
up €187,222 (+4.5%), from €4.1m to €4.3m
- Other debts +€197,100
up €197,100 (+15.9%), from €1.2m to €1.4m
- Profit (loss) carried forward -€110,980
down €110,980 (-26.4%), from -€420,402 to -€531,382
- Accrued charges and deferred income +€88,638
up €88,638 (+70.5%), from €125,763 to €214,401
- Financial charges -€303,323
down €303,323 (-73.9%), from €410,325 to €107,001
- Gross operating margin +€5,461
up €5,461 (+63.8%), from -€8,553 to -€3,092
- Other operating charges -€370
down €370 (-41.2%), from €898 to €528
- Depreciation -€268
down €268 (-42.8%), from €626 to €358
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,870,068 | €5,045,052 | +€174,984 | +3.6% |
| Formation expenses | 20 | €1,165 | €807 | -€358 | -30.7% |
| Current assets | 29/58 | €4,868,903 | €5,044,246 | +€175,342 | +3.6% |
| Stocks and contracts in progress | 3 | €4,117,339 | €4,304,561 | +€187,222 | +4.5% |
| Stocks | 30/36 | €4,117,339 | €4,304,561 | +€187,222 | +4.5% |
| Amounts receivable within one year | 40/41 | €738,150 | €738,150 | = | 0.0% |
| Other amounts receivable | 41 | €738,150 | €738,150 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,302 | €1,422 | -€11,881 | -89.3% |
| Deferred charges and accrued income | 490/1 | €112 | €113 | +€1 | +1.2% |
| Total equity and liabilities | 10/49 | €4,870,068 | €5,045,052 | +€174,984 | +3.6% |
| Equity | 10/15 | -€415,402 | -€526,382 | -€110,980 | -26.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€420,402 | -€531,382 | -€110,980 | -26.4% |
| Amounts payable | 17/49 | €5,285,470 | €5,571,434 | +€285,964 | +5.4% |
| Amounts payable after more than one year | 17 | €3,920,000 | €3,920,000 | = | 0.0% |
| Financial debts | 170/4 | €3,920,000 | €3,920,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,239,708 | €1,437,033 | +€197,326 | +15.9% |
| Trade debts | 44 | - | €226 | +€226 | |
| Suppliers | 440/4 | - | €226 | +€226 | |
| Other amounts payable | 47/48 | €1,239,708 | €1,436,808 | +€197,100 | +15.9% |
| Accrued charges and deferred income | 492/3 | €125,763 | €214,401 | +€88,638 | +70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €626 | €358 | -€268 | -42.8% |
| Other operating charges | 640/8 | €898 | €528 | -€370 | -41.2% |
| Gross operating margin | 9900 | -€8,553 | -€3,092 | +€5,461 | +63.8% |
| Operating profit (loss) | 9901 | -€10,077 | -€3,978 | +€6,099 | +60.5% |
| Financial charges | 65/66B | €410,325 | €107,001 | -€303,323 | -73.9% |
| Recurring financial charges | 65 | €410,325 | €107,001 | -€303,323 | -73.9% |
| Profit (loss) for the period before taxes | 9903 | -€420,402 | -€110,980 | +€309,422 | +73.6% |
| Profit (loss) for the period | 9904 | -€420,402 | -€110,980 | +€309,422 | +73.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€420,402 | -€110,980 | +€309,422 | +73.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.