NAUSIKAA: 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.
NAUSIKAA
Largest movements
- Current investments +€200,338
up €200,338 (+103.6%), from €193,412 to €393,750
- Tangible fixed assets -€64,177
down €64,177 (-10.3%), from €620,734 to €556,558
of which Other tangible fixed assets: -€61,940
- Deferred charges and accrued income -€29,380
no longer reported in 2025 (was €29,380)
- Cash +€18,402
up €18,402 (+5.8%), from €316,076 to €334,477
mainly Net result for the year (+€103,829) and Depreciation (+€64,177)
- Reserves +€99,029
up €99,029 (+16.0%), from €617,791 to €716,820
of which Distributable reserves: +€99,029
- Tax, wage and social debts +€17,995
up €17,995 (+84.4%), from €21,312 to €39,307
of which Taxes: +€19,130
- Gross operating margin +€21,068
up €21,068 (+8.3%), from €253,113 to €274,181
- Financial charges +€11,180
up €11,180 (+150.1%), from €7,450 to €18,630
- Depreciation -€10,450
down €10,450 (-14.0%), from €74,626 to €64,177
- Taxes +€6,598
up €6,598 (+15.2%), from €43,511 to €50,109
- Financial income +€5,764
up €5,764 (+207.8%), from €2,774 to €8,538
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 | €1,194,798 | €1,314,218 | +€119,420 | +10.0% |
| Fixed assets | 21/28 | €620,734 | €556,558 | -€64,177 | -10.3% |
| Tangible fixed assets | 22/27 | €620,734 | €556,558 | -€64,177 | -10.3% |
| Land and buildings | 22 | €28,311 | €28,311 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,243 | €1,684 | -€1,558 | -48.1% |
| Furniture and vehicles | 24 | €2,013 | €1,334 | -€678 | -33.7% |
| Other tangible fixed assets | 26 | €587,168 | €525,229 | -€61,940 | -10.5% |
| Current assets | 29/58 | €574,064 | €757,660 | +€183,596 | +32.0% |
| Amounts receivable within one year | 40/41 | €35,196 | €29,433 | -€5,764 | -16.4% |
| Trade receivables | 40 | €22,051 | €19,124 | -€2,927 | -13.3% |
| Other amounts receivable | 41 | €13,145 | €10,309 | -€2,837 | -21.6% |
| Current investments | 50/53 | €193,412 | €393,750 | +€200,338 | +103.6% |
| Cash at bank and in hand | 54/58 | €316,076 | €334,477 | +€18,402 | +5.8% |
| Deferred charges and accrued income | 490/1 | €29,380 | - | -€29,380 | |
| Total equity and liabilities | 10/49 | €1,194,798 | €1,314,218 | +€119,420 | +10.0% |
| Equity | 10/15 | €891,811 | €990,840 | +€99,029 | +11.1% |
| Contributions | 10/11 | €274,020 | €274,020 | = | 0.0% |
| Reserves | 13 | €617,791 | €716,820 | +€99,029 | +16.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €580,291 | €679,320 | +€99,029 | +17.1% |
| Amounts payable | 17/49 | €302,987 | €323,378 | +€20,391 | +6.7% |
| Amounts payable within one year | 42/48 | €297,936 | €321,729 | +€23,792 | +8.0% |
| Trade debts | 44 | €1,327 | €578 | -€749 | -56.4% |
| Suppliers | 440/4 | €1,327 | €578 | -€749 | -56.4% |
| Taxes, remuneration and social security | 45 | €21,312 | €39,307 | +€17,995 | +84.4% |
| Taxes | 450/3 | €15,105 | €34,235 | +€19,130 | +126.6% |
| Remuneration and social security | 454/9 | €6,206 | €5,072 | -€1,134 | -18.3% |
| Other amounts payable | 47/48 | €275,297 | €281,843 | +€6,546 | +2.4% |
| Accrued charges and deferred income | 492/3 | €5,051 | €1,649 | -€3,402 | -67.4% |
| Remuneration, social security and pensions | 62 | €40,646 | €42,044 | +€1,398 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,626 | €64,177 | -€10,450 | -14.0% |
| Other operating charges | 640/8 | €4,302 | €3,931 | -€372 | -8.6% |
| Gross operating margin | 9900 | €253,113 | €274,181 | +€21,068 | +8.3% |
| Operating profit (loss) | 9901 | €133,538 | €164,030 | +€30,491 | +22.8% |
| Financial income | 75/76B | €2,774 | €8,538 | +€5,764 | +207.8% |
| Recurring financial income | 75 | €2,774 | €8,538 | +€5,764 | +207.8% |
| Financial charges | 65/66B | €7,450 | €18,630 | +€11,180 | +150.1% |
| Recurring financial charges | 65 | €7,450 | €18,630 | +€11,180 | +150.1% |
| Profit (loss) for the period before taxes | 9903 | €128,863 | €153,938 | +€25,075 | +19.5% |
| Income taxes | 67/77 | €43,511 | €50,109 | +€6,598 | +15.2% |
| Profit (loss) for the period | 9904 | €85,351 | €103,829 | +€18,478 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,351 | €103,829 | +€18,478 | +21.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.