NAZA RETAIL: 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.
NAZA RETAIL
Largest movements
- Receivables after one year -€169,370
down €169,370 (-45.2%), from €375,000 to €205,630
- Tangible fixed assets -€105,788
down €105,788 (-23.5%), from €449,687 to €343,899
of which Other tangible fixed assets: -€62,932
- Receivables within one year -€99,180
down €99,180 (-41.8%), from €237,193 to €138,013
of which Trade receivables: -€109,144
- Deferred charges and accrued income +€68,519
up €68,519 (+2,998%), from €2,285 to €70,804
- Cash +€29,963
up €29,963 (+28.4%), from €105,443 to €135,406
mainly Receivables after one year (+€169,370) and Trade debts (+€169,261)
- Debts after one year -€446,658
down €446,658 (-72.8%), from €613,459 to €166,801
of which Trade debts: -€343,876
- Trade debts +€169,261
up €169,261 (+44.3%), from €381,696 to €550,956
- Accrued charges and deferred income +€31,590
up €31,590 (+1,036%), from €3,049 to €34,639
- Reserves -€31,257
down €31,257 (-29.1%), from €107,356 to €76,099
of which Distributable reserves: -€31,257
- Gross operating margin +€366,281
up €366,281 (+294%), from €124,764 to €491,045
- Staff costs +€186,140
up €186,140 (+146%), from €127,283 to €313,424
- Depreciation +€75,524
up €75,524 (+160%), from €47,239 to €122,763
- Financial charges +€27,109
up €27,109 (+246%), from €11,010 to €38,119
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,499,203 | €1,211,716 | -€287,487 | -19.2% |
| Fixed assets | 21/28 | €449,687 | €343,899 | -€105,788 | -23.5% |
| Tangible fixed assets | 22/27 | €449,687 | €343,899 | -€105,788 | -23.5% |
| Plant, machinery and equipment | 23 | €175,870 | €133,014 | -€42,856 | -24.4% |
| Other tangible fixed assets | 26 | €273,817 | €210,885 | -€62,932 | -23.0% |
| Current assets | 29/58 | €1,049,516 | €867,816 | -€181,699 | -17.3% |
| Amounts receivable after more than one year | 29 | €375,000 | €205,630 | -€169,370 | -45.2% |
| Other amounts receivable | 291 | €375,000 | €205,630 | -€169,370 | -45.2% |
| Stocks and contracts in progress | 3 | €329,595 | €317,963 | -€11,632 | -3.5% |
| Stocks | 30/36 | €329,595 | €317,963 | -€11,632 | -3.5% |
| Amounts receivable within one year | 40/41 | €237,193 | €138,013 | -€99,180 | -41.8% |
| Trade receivables | 40 | €149,736 | €40,592 | -€109,144 | -72.9% |
| Other amounts receivable | 41 | €87,457 | €97,421 | +€9,964 | +11.4% |
| Cash at bank and in hand | 54/58 | €105,443 | €135,406 | +€29,963 | +28.4% |
| Deferred charges and accrued income | 490/1 | €2,285 | €70,804 | +€68,519 | +2,998% |
| Total equity and liabilities | 10/49 | €1,499,203 | €1,211,716 | -€287,487 | -19.2% |
| Equity | 10/15 | €282,356 | €251,099 | -€31,257 | -11.1% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €107,356 | €76,099 | -€31,257 | -29.1% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Distributable reserves | 133 | €89,856 | €58,599 | -€31,257 | -34.8% |
| Amounts payable | 17/49 | €1,216,847 | €960,617 | -€256,231 | -21.1% |
| Amounts payable after more than one year | 17 | €613,459 | €166,801 | -€446,658 | -72.8% |
| Financial debts | 170/4 | €269,583 | €166,801 | -€102,781 | -38.1% |
| Trade debts | 175 | €343,876 | - | -€343,876 | |
| Amounts payable within one year | 42/48 | €600,339 | €759,176 | +€158,837 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €133,461 | €141,587 | +€8,125 | +6.1% |
| Trade debts | 44 | €381,696 | €550,956 | +€169,261 | +44.3% |
| Suppliers | 440/4 | €381,696 | €550,956 | +€169,261 | +44.3% |
| Taxes, remuneration and social security | 45 | €71,147 | €66,633 | -€4,514 | -6.3% |
| Taxes | 450/3 | €20,121 | €10,886 | -€9,234 | -45.9% |
| Remuneration and social security | 454/9 | €51,026 | €55,747 | +€4,721 | +9.3% |
| Other amounts payable | 47/48 | €14,036 | - | -€14,036 | |
| Accrued charges and deferred income | 492/3 | €3,049 | €34,639 | +€31,590 | +1,036% |
| Remuneration, social security and pensions | 62 | €127,283 | €313,424 | +€186,140 | +146% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,239 | €122,763 | +€75,524 | +160% |
| Other operating charges | 640/8 | €1,433 | €4,040 | +€2,607 | +182% |
| Gross operating margin | 9900 | €124,764 | €491,045 | +€366,281 | +294% |
| Operating profit (loss) | 9901 | -€51,191 | €50,818 | +€102,010 | |
| Financial income | 75/76B | €6,011 | €6,044 | +€33 | +0.6% |
| Recurring financial income | 75 | €6,011 | €6,044 | +€33 | +0.6% |
| Financial charges | 65/66B | €11,010 | €38,119 | +€27,109 | +246% |
| Recurring financial charges | 65 | €11,010 | €38,119 | +€27,109 | +246% |
| Profit (loss) for the period before taxes | 9903 | -€56,190 | €18,743 | +€74,934 | |
| Profit (loss) for the period | 9904 | -€56,190 | €18,743 | +€74,934 | |
| Profit (loss) for the period to be appropriated | 9905 | -€56,190 | €18,743 | +€74,934 |
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 26 October 2026 via checked.be.