NAZCA: 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.
NAZCA
Largest movements
- Tangible fixed assets -€103,463
down €103,463 (-3.5%), from €3.0m to €2.9m
of which Other tangible fixed assets: -€101,316
- Profit (loss) carried forward -€94,770
down €94,770 (-21.7%), from -€435,947 to -€530,717
- Depreciation +€10,390
up €10,390 (+6.8%), from €152,976 to €163,366
- Gross operating margin +€9,384
up €9,384 (+10.8%), from €87,122 to €96,506
- Other operating charges -€9,270
down €9,270 (-27.9%), from €33,239 to €23,970
- Purchases and services -€5,881
down €5,881 (-24.1%), from €24,405 to €18,524
- Turnover +€3,503
up €3,503 (+3.1%), from €111,527 to €115,030
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 | €2,962,458 | €2,857,867 | -€104,592 | -3.5% |
| Fixed assets | 21/28 | €2,958,789 | €2,855,326 | -€103,463 | -3.5% |
| Tangible fixed assets | 22/27 | €2,958,789 | €2,855,326 | -€103,463 | -3.5% |
| Plant, machinery and equipment | 23 | €10,418 | €8,272 | -€2,147 | -20.6% |
| Other tangible fixed assets | 26 | €2,948,371 | €2,847,055 | -€101,316 | -3.4% |
| Current assets | 29/58 | €3,669 | €2,541 | -€1,129 | -30.8% |
| Amounts receivable within one year | 40/41 | €2 | €1,508 | +€1,506 | +78,017% |
| Trade receivables | 40 | - | €1,506 | +€1,506 | |
| Other amounts receivable | 41 | €2 | €2 | +€0 | +10.9% |
| Cash at bank and in hand | 54/58 | €3,667 | €1,033 | -€2,634 | -71.8% |
| Total equity and liabilities | 10/49 | €2,962,458 | €2,857,867 | -€104,592 | -3.5% |
| Equity | 10/15 | €2,577,294 | €2,482,524 | -€94,770 | -3.7% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €13,241 | €13,241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,241 | €13,241 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,241 | €13,241 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€435,947 | -€530,717 | -€94,770 | -21.7% |
| Amounts payable | 17/49 | €385,165 | €375,343 | -€9,821 | -2.5% |
| Amounts payable within one year | 42/48 | €385,165 | €375,343 | -€9,821 | -2.5% |
| Trade debts | 44 | €500 | €1,105 | +€605 | +121% |
| Suppliers | 440/4 | €500 | €1,105 | +€605 | +121% |
| Taxes, remuneration and social security | 45 | €234 | €897 | +€662 | +283% |
| Taxes | 450/3 | €234 | €897 | +€662 | +283% |
| Other amounts payable | 47/48 | €384,430 | €373,342 | -€11,089 | -2.9% |
| Turnover | 70 | €111,527 | €115,030 | +€3,503 | +3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €24,405 | €18,524 | -€5,881 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,976 | €163,366 | +€10,390 | +6.8% |
| Other operating charges | 640/8 | €33,239 | €23,970 | -€9,270 | -27.9% |
| Gross operating margin | 9900 | €87,122 | €96,506 | +€9,384 | +10.8% |
| Operating profit (loss) | 9901 | -€99,093 | -€90,829 | +€8,264 | +8.3% |
| Financial income | 75/76B | €1 | €1 | -€0 | -22.7% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -22.7% |
| Financial charges | 65/66B | €3,324 | €3,942 | +€618 | +18.6% |
| Recurring financial charges | 65 | €3,324 | €3,942 | +€618 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | -€102,417 | -€94,770 | +€7,646 | +7.5% |
| Profit (loss) for the period | 9904 | -€102,417 | -€94,770 | +€7,646 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€102,417 | -€94,770 | +€7,646 | +7.5% |
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 14 October 2026 via checked.be.