NAZOE: 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.
NAZOE
Largest movements
- Tangible fixed assets -€33
no longer reported in 2025 (was €33)
- Cash -€20
down €20 (-43.0%), from €46 to €26
mainly Short-term financial debts (-€3,378) and Net result for the year (-€2,397)
- Other debts +€5,723
up €5,723 (+18.6%), from €30,699 to €36,421
- Short-term financial debts -€3,378
no longer reported in 2025 (was €3,378)
- Profit (loss) carried forward -€2,397
down €2,397 (-5.4%), from -€43,998 to -€46,395
- Gross operating margin +€4,874
up €4,874 (+72.6%), from -€6,713 to -€1,839
- Depreciation -€418
down €418 (-92.6%), from €451 to €33
- Other operating charges -€344
no longer reported in 2025 (was €344)
- Financial income -€70
no longer reported in 2025 (was €70)
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 | €79 | €26 | -€53 | -67.0% |
| Fixed assets | 21/28 | €33 | - | -€33 | |
| Tangible fixed assets | 22/27 | €33 | - | -€33 | |
| Other tangible fixed assets | 26 | €33 | - | -€33 | |
| Current assets | 29/58 | €46 | €26 | -€20 | -43.0% |
| Cash at bank and in hand | 54/58 | €46 | €26 | -€20 | -43.0% |
| Total equity and liabilities | 10/49 | €79 | €26 | -€53 | -67.0% |
| Equity | 10/15 | -€33,998 | -€36,395 | -€2,397 | -7.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | -€43,998 | -€46,395 | -€2,397 | -5.4% |
| Amounts payable | 17/49 | €34,077 | €36,421 | +€2,344 | +6.9% |
| Amounts payable within one year | 42/48 | €34,077 | €36,421 | +€2,344 | +6.9% |
| Financial debts | 43 | €3,378 | - | -€3,378 | |
| Credit institutions | 430/8 | €3,378 | - | -€3,378 | |
| Other amounts payable | 47/48 | €30,699 | €36,421 | +€5,723 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €451 | €33 | -€418 | -92.6% |
| Other operating charges | 640/8 | €344 | - | -€344 | |
| Gross operating margin | 9900 | -€6,713 | -€1,839 | +€4,874 | +72.6% |
| Operating profit (loss) | 9901 | -€7,508 | -€1,872 | +€5,636 | +75.1% |
| Financial income | 75/76B | €70 | - | -€70 | |
| Recurring financial income | 75 | €70 | - | -€70 | |
| Financial charges | 65/66B | €568 | €525 | -€43 | -7.6% |
| Recurring financial charges | 65 | €568 | €525 | -€43 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,006 | -€2,397 | +€5,609 | +70.1% |
| Profit (loss) for the period | 9904 | -€8,006 | -€2,397 | +€5,609 | +70.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,006 | -€2,397 | +€5,609 | +70.1% |
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 5 October 2026 via checked.be.