NURAZ: 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.
NURAZ
Largest movements
- Cash +€24,095
up €24,095 (+70.6%), from €34,147 to €58,241
mainly Net result for the year (+€50,492) and Depreciation (+€11,383)
- Receivables within one year +€19,915
up €19,915 (+64.7%), from €30,804 to €50,719
of which Other amounts receivable: +€35,234
- Tangible fixed assets -€11,383
down €11,383 (-49.0%), from €23,246 to €11,863
of which Furniture and vehicles: -€11,263
- Profit (loss) carried forward +€50,492
up €50,492, from -€19,367 to €31,126
- Other debts -€18,658
no longer reported in 2025 (was €18,658)
- Tax, wage and social debts +€11,183
up €11,183 (+213.1%), from €5,248 to €16,432
- Trade debts -€9,903
down €9,903 (-85.1%), from €11,637 to €1,734
- Accrued charges and deferred income +€6,696
up €6,696 (+49.9%), from €13,416 to €20,112
- Gross operating margin +€133,486
up €133,486, from -€4,510 to €128,976
- Other operating charges +€27,346
up €27,346 (+779.9%), from €3,506 to €30,853
- Taxes -€15,466
down €15,466 (-29.8%), from €51,937 to €36,471
- Depreciation -€5,714
down €5,714 (-33.4%), from €17,097 to €11,383
- Staff costs -€1,870
down €1,870 (-97.0%), from €1,927 to €57
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 | €88,197 | €120,823 | +€32,627 | +37.0% |
| Fixed assets | 21/28 | €23,246 | €11,863 | -€11,383 | -49.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €23,246 | €11,863 | -€11,383 | -49.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €22,526 | €11,263 | -€11,263 | -50.0% |
| Other tangible fixed assets | 26 | €720 | €600 | -€120 | -16.7% |
| Current assets | 29/58 | €64,950 | €108,960 | +€44,010 | +67.8% |
| Amounts receivable within one year | 40/41 | €30,804 | €50,719 | +€19,915 | +64.7% |
| Trade receivables | 40 | €22,370 | €7,051 | -€15,319 | -68.5% |
| Other amounts receivable | 41 | €8,433 | €43,668 | +€35,234 | +417.8% |
| Cash at bank and in hand | 54/58 | €34,147 | €58,241 | +€24,095 | +70.6% |
| Total equity and liabilities | 10/49 | €88,197 | €120,823 | +€32,627 | +37.0% |
| Equity | 10/15 | €1,093 | €51,586 | +€50,492 | +4617.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,367 | €31,126 | +€50,492 | |
| Amounts payable | 17/49 | €87,103 | €69,238 | -€17,865 | -20.5% |
| Amounts payable after more than one year | 17 | €30,960 | €24,284 | -€6,676 | -21.6% |
| Financial debts | 170/4 | €30,960 | €24,284 | -€6,676 | -21.6% |
| Amounts payable within one year | 42/48 | €42,727 | €24,842 | -€17,886 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €7,184 | €6,676 | -€508 | -7.1% |
| Trade debts | 44 | €11,637 | €1,734 | -€9,903 | -85.1% |
| Suppliers | 440/4 | €11,637 | €1,734 | -€9,903 | -85.1% |
| Taxes, remuneration and social security | 45 | €5,248 | €16,432 | +€11,183 | +213.1% |
| Taxes | 450/3 | €5,248 | €16,432 | +€11,183 | +213.1% |
| Other amounts payable | 47/48 | €18,658 | - | -€18,658 | |
| Accrued charges and deferred income | 492/3 | €13,416 | €20,112 | +€6,696 | +49.9% |
| Non-recurring operating income | 76A | - | €63,300 | +€63,300 | |
| Remuneration, social security and pensions | 62 | €1,927 | €57 | -€1,870 | -97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,097 | €11,383 | -€5,714 | -33.4% |
| Other operating charges | 640/8 | €3,506 | €30,853 | +€27,346 | +779.9% |
| Gross operating margin | 9900 | -€4,510 | €128,976 | +€133,486 | |
| Operating profit (loss) | 9901 | -€27,040 | €86,683 | +€113,723 | |
| Financial income | 75/76B | €5 | €1,113 | +€1,108 | +23085.0% |
| Recurring financial income | 75 | €5 | €1,113 | +€1,108 | +23085.0% |
| Financial charges | 65/66B | -€393 | €833 | +€1,226 | |
| Recurring financial charges | 65 | -€393 | €833 | +€1,226 | |
| Profit (loss) for the period before taxes | 9903 | -€26,642 | €86,963 | +€113,605 | |
| Income taxes | 67/77 | €51,937 | €36,471 | -€15,466 | -29.8% |
| Profit (loss) for the period | 9904 | -€78,579 | €50,492 | +€129,071 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,579 | €50,492 | +€129,071 |
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.