NAXOS: 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.
NAXOS
Largest movements
- Current investments +€350,700
up €350,700 (+2,181%), from €16,078 to €366,778
- Cash -€180,935
down €180,935 (-73.9%), from €244,807 to €63,872
mainly Contributions, distributions and other (-€2.2m) and Current investments (-€350,700)
- Receivables within one year -€137,017
down €137,017 (-79.1%), from €173,225 to €36,208
of which Other amounts receivable: -€151,847
- Reserves -€2.1m
no longer reported in 2025 (was €2.1m)
- Debts after one year +€1.8m
up €1.8m (+40,105%), from €4,557 to €1.8m
- Tax, wage and social debts +€325,190
up €325,190 (+3,293%), from €9,875 to €335,065
- Financial income -€2.0m
down €2.0m (-99.8%), from €2.0m to €4,377
- Gross operating margin +€16,889
up €16,889 (+12.9%), from €131,140 to €148,028
- Taxes +€6,597
up €6,597 (+19.2%), from €34,384 to €40,981
- Financial charges +€5,068
up €5,068 (+1,262%), from €402 to €5,469
- Depreciation -€1,523
down €1,523 (-85.6%), from €1,780 to €257
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 | €2,135,696 | €2,173,187 | +€37,491 | +1.8% |
| Fixed assets | 21/28 | €1,701,586 | €1,706,329 | +€4,743 | +0.3% |
| Tangible fixed assets | 22/27 | €257 | - | -€257 | |
| Plant, machinery and equipment | 23 | €257 | - | -€257 | |
| Financial fixed assets | 28 | €1,701,329 | €1,706,329 | +€5,000 | +0.3% |
| Current assets | 29/58 | €434,110 | €466,857 | +€32,748 | +7.5% |
| Amounts receivable within one year | 40/41 | €173,225 | €36,208 | -€137,017 | -79.1% |
| Trade receivables | 40 | €1,369 | €16,199 | +€14,830 | +1,083% |
| Other amounts receivable | 41 | €171,856 | €20,009 | -€151,847 | -88.4% |
| Current investments | 50/53 | €16,078 | €366,778 | +€350,700 | +2,181% |
| Cash at bank and in hand | 54/58 | €244,807 | €63,872 | -€180,935 | -73.9% |
| Total equity and liabilities | 10/49 | €2,135,696 | €2,173,187 | +€37,491 | +1.8% |
| Equity | 10/15 | €2,105,767 | €6,025 | -€2.1m | -99.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,104,767 | - | -€2.1m | |
| Distributable reserves | 133 | €2,104,767 | - | -€2.1m | |
| Profit (loss) carried forward | 14 | - | €5,025 | +€5,025 | |
| Amounts payable | 17/49 | €29,929 | €2,167,162 | +€2.1m | +7,141% |
| Amounts payable after more than one year | 17 | €4,557 | €1,832,000 | +€1.8m | +40,105% |
| Financial debts | 170/4 | €4,557 | €1,832,000 | +€1.8m | +40,105% |
| Amounts payable within one year | 42/48 | €25,372 | €335,162 | +€309,790 | +1,221% |
| Financial debts | 43 | €731 | €10 | -€721 | -98.6% |
| Credit institutions | 430/8 | €731 | €10 | -€721 | -98.6% |
| Taxes, remuneration and social security | 45 | €9,875 | €335,065 | +€325,190 | +3,293% |
| Taxes | 450/3 | €9,875 | €335,065 | +€325,190 | +3,293% |
| Other amounts payable | 47/48 | €14,766 | €87 | -€14,679 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,780 | €257 | -€1,523 | -85.6% |
| Other operating charges | 640/8 | €1,074 | €673 | -€401 | -37.3% |
| Non-recurring operating charges | 66A | €2,043 | - | -€2,043 | |
| Gross operating margin | 9900 | €131,140 | €148,028 | +€16,889 | +12.9% |
| Operating profit (loss) | 9901 | €126,243 | €147,098 | +€20,856 | +16.5% |
| Financial income | 75/76B | €2,010,480 | €4,377 | -€2.0m | -99.8% |
| Recurring financial income | 75 | €2,010,480 | €4,377 | -€2.0m | -99.8% |
| Financial charges | 65/66B | €402 | €5,469 | +€5,068 | +1,262% |
| Recurring financial charges | 65 | €402 | €5,469 | +€5,068 | +1,262% |
| Profit (loss) for the period before taxes | 9903 | €2,136,322 | €146,006 | -€2.0m | -93.2% |
| Income taxes | 67/77 | €34,384 | €40,981 | +€6,597 | +19.2% |
| Profit (loss) for the period | 9904 | €2,101,937 | €105,025 | -€2.0m | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,101,937 | €105,025 | -€2.0m | -95.0% |
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 15 October 2026 via checked.be.