NAZ: 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.
NAZ
Largest movements
- Cash +€15,854
up €15,854 (+207.9%), from €7,626 to €23,479
mainly Other debts (+€16,500) and Tax, wage and social debts (+€1,797)
- Tangible fixed assets -€1,336
down €1,336 (-70.6%), from €1,891 to €556
of which Plant, machinery and equipment: -€1,319
- Receivables within one year -€829
down €829 (-48.0%), from €1,726 to €897
- Other debts +€16,500
up €16,500 (+88.2%), from €18,717 to €35,217
- Profit (loss) carried forward -€4,837
down €4,837 (-20.3%), from -€23,878 to -€28,715
- Tax, wage and social debts +€1,797
up €1,797 (+93.2%), from €1,928 to €3,726
of which Remuneration and social security: +€989
- Staff costs -€9,767
down €9,767 (-22.8%), from €42,810 to €33,044
- Gross operating margin -€9,621
down €9,621 (-23.4%), from €41,196 to €31,576
- Financial charges -€602
down €602 (-26.6%), from €2,266 to €1,663
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 | €11,243 | €24,932 | +€13,689 | +121.8% |
| Fixed assets | 21/28 | €1,891 | €556 | -€1,336 | -70.6% |
| Tangible fixed assets | 22/27 | €1,891 | €556 | -€1,336 | -70.6% |
| Plant, machinery and equipment | 23 | €1,875 | €556 | -€1,319 | -70.4% |
| Furniture and vehicles | 24 | €17 | €0 | -€17 | -100.0% |
| Current assets | 29/58 | €9,352 | €24,377 | +€15,025 | +160.7% |
| Amounts receivable within one year | 40/41 | €1,726 | €897 | -€829 | -48.0% |
| Other amounts receivable | 41 | €1,726 | €897 | -€829 | -48.0% |
| Cash at bank and in hand | 54/58 | €7,626 | €23,479 | +€15,854 | +207.9% |
| Total equity and liabilities | 10/49 | €11,243 | €24,932 | +€13,689 | +121.8% |
| Equity | 10/15 | -€11,478 | -€16,315 | -€4,837 | -42.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,878 | -€28,715 | -€4,837 | -20.3% |
| Amounts payable | 17/49 | €22,721 | €41,247 | +€18,526 | +81.5% |
| Amounts payable within one year | 42/48 | €22,721 | €41,247 | +€18,526 | +81.5% |
| Trade debts | 44 | €2,077 | €2,305 | +€229 | +11.0% |
| Suppliers | 440/4 | €2,077 | €2,305 | +€229 | +11.0% |
| Taxes, remuneration and social security | 45 | €1,928 | €3,726 | +€1,797 | +93.2% |
| Taxes | 450/3 | €669 | €1,477 | +€808 | +120.8% |
| Remuneration and social security | 454/9 | €1,259 | €2,249 | +€989 | +78.5% |
| Other amounts payable | 47/48 | €18,717 | €35,217 | +€16,500 | +88.2% |
| Remuneration, social security and pensions | 62 | €42,810 | €33,044 | -€9,767 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,578 | €1,336 | -€242 | -15.4% |
| Other operating charges | 640/8 | €511 | €370 | -€141 | -27.6% |
| Gross operating margin | 9900 | €41,196 | €31,576 | -€9,621 | -23.4% |
| Operating profit (loss) | 9901 | -€3,703 | -€3,174 | +€530 | +14.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €2,266 | €1,663 | -€602 | -26.6% |
| Recurring financial charges | 65 | €2,266 | €1,663 | -€602 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,969 | -€4,837 | +€1,132 | +19.0% |
| Profit (loss) for the period | 9904 | -€5,969 | -€4,837 | +€1,132 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,969 | -€4,837 | +€1,132 | +19.0% |
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 9 October 2026 via checked.be.