NAZIR: 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.
NAZIR
Largest movements
- Receivables within one year +€31,727
up €31,727 (+1368.0%), from €2,319 to €34,047
of which Other amounts receivable: +€29,155
- Tangible fixed assets -€26,947
down €26,947 (-33.2%), from €81,056 to €54,109
of which Land and buildings: -€30,466
- Cash -€6,976
down €6,976 (-30.7%), from €22,690 to €15,714
mainly Receivables within one year (-€31,727) and Debts after one year (-€11,813)
- Deferred charges and accrued income -€1,997
down €1,997 (-23.8%), from €8,387 to €6,391
- Debts after one year -€11,813
down €11,813 (-16.1%), from €73,249 to €61,435
- Profit (loss) carried forward +€4,852
up €4,852 (+10.1%), from -€47,965 to -€43,113
- Tax, wage and social debts +€3,611
up €3,611 (+78.7%), from €4,589 to €8,200
of which Remuneration and social security: +€4,838
- Turnover -€34,180
down €34,180 (-8.3%), from €410,445 to €376,265
- Gross operating margin -€21,513
down €21,513 (-17.2%), from €125,361 to €103,848
- Staff costs -€18,044
down €18,044 (-22.7%), from €79,619 to €61,575
- Purchases and services -€12,667
down €12,667 (-4.4%), from €285,085 to €272,417
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 | €115,310 | €111,118 | -€4,192 | -3.6% |
| Fixed assets | 21/28 | €81,064 | €54,117 | -€26,947 | -33.2% |
| Tangible fixed assets | 22/27 | €81,056 | €54,109 | -€26,947 | -33.2% |
| Land and buildings | 22 | €74,824 | €44,358 | -€30,466 | -40.7% |
| Plant, machinery and equipment | 23 | - | €5,064 | +€5,064 | |
| Furniture and vehicles | 24 | €6,231 | €4,687 | -€1,544 | -24.8% |
| Financial fixed assets | 28 | €8 | €8 | = | 0.0% |
| Current assets | 29/58 | €34,246 | €57,001 | +€22,755 | +66.4% |
| Stocks and contracts in progress | 3 | €850 | €850 | = | 0.0% |
| Stocks | 30/36 | €850 | €850 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,319 | €34,047 | +€31,727 | +1368.0% |
| Trade receivables | 40 | €81 | €2,654 | +€2,573 | +3163.8% |
| Other amounts receivable | 41 | €2,238 | €31,393 | +€29,155 | +1302.7% |
| Cash at bank and in hand | 54/58 | €22,690 | €15,714 | -€6,976 | -30.7% |
| Deferred charges and accrued income | 490/1 | €8,387 | €6,391 | -€1,997 | -23.8% |
| Total equity and liabilities | 10/49 | €115,310 | €111,118 | -€4,192 | -3.6% |
| Equity | 10/15 | €21,022 | €25,874 | +€4,852 | +23.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €387 | €387 | = | 0.0% |
| Non-distributable reserves | 130/1 | €387 | €387 | = | 0.0% |
| Reserves not available under the articles | 1311 | €387 | €387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,965 | -€43,113 | +€4,852 | +10.1% |
| Investment grants | 15 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €94,288 | €85,244 | -€9,044 | -9.6% |
| Amounts payable after more than one year | 17 | €73,249 | €61,435 | -€11,813 | -16.1% |
| Financial debts | 170/4 | €73,249 | €61,435 | -€11,813 | -16.1% |
| Amounts payable within one year | 42/48 | €21,039 | €23,809 | +€2,770 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €11,813 | €11,945 | +€132 | +1.1% |
| Trade debts | 44 | €4,637 | €3,664 | -€973 | -21.0% |
| Suppliers | 440/4 | €4,637 | €3,664 | -€973 | -21.0% |
| Taxes, remuneration and social security | 45 | €4,589 | €8,200 | +€3,611 | +78.7% |
| Taxes | 450/3 | €1,410 | €183 | -€1,227 | -87.0% |
| Remuneration and social security | 454/9 | €3,179 | €8,017 | +€4,838 | +152.2% |
| Turnover | 70 | €410,445 | €376,265 | -€34,180 | -8.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €285,085 | €272,417 | -€12,667 | -4.4% |
| Remuneration, social security and pensions | 62 | €79,619 | €61,575 | -€18,044 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,130 | €33,161 | +€1,030 | +3.2% |
| Other operating charges | 640/8 | €2,251 | €2,484 | +€233 | +10.4% |
| Gross operating margin | 9900 | €125,361 | €103,848 | -€21,513 | -17.2% |
| Operating profit (loss) | 9901 | €11,360 | €6,628 | -€4,732 | -41.7% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.8% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.8% |
| Financial charges | 65/66B | €3,287 | €1,717 | -€1,570 | -47.8% |
| Recurring financial charges | 65 | €3,287 | €1,717 | -€1,570 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €8,079 | €4,911 | -€3,168 | -39.2% |
| Income taxes | 67/77 | €72 | €59 | -€13 | -18.0% |
| Profit (loss) for the period | 9904 | €8,007 | €4,852 | -€3,155 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,007 | €4,852 | -€3,155 | -39.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.