DE NACHTEGAAL: 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.
DE NACHTEGAAL
Largest movements
- Receivables after one year +€14,046
new in 2025: €14,046
- Receivables within one year +€11,905
up €11,905 (+207%), from €5,760 to €17,665
of which Trade receivables: +€9,494
- Cash +€1,558
up €1,558 (+34.0%), from €4,580 to €6,138
mainly Net result for the year (+€14,451) and Advances received (+€10,834)
- Stocks and contracts -€599
down €599 (-7.8%), from €7,667 to €7,067
- Deferred charges and accrued income +€492
new in 2025: €492
- Profit (loss) carried forward +€14,451
up €14,451, from -€13,910 to €541
- Advances received +€10,834
new in 2025: €10,834
- Tax, wage and social debts +€1,194
new in 2025: €1,194
- Trade debts +€923
up €923 (+8.4%), from €10,956 to €11,879
- Gross operating margin +€5,115
up €5,115 (+46.2%), from €11,062 to €16,176
- Financial charges +€2,415
up €2,415 (+1,285%), from €188 to €2,603
- Financial income +€1,027
new in 2025: €1,027
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 | €18,007 | €45,408 | +€27,401 | +152% |
| Current assets | 29/58 | €18,007 | €45,408 | +€27,401 | +152% |
| Amounts receivable after more than one year | 29 | - | €14,046 | +€14,046 | |
| Other amounts receivable | 291 | - | €14,046 | +€14,046 | |
| Stocks and contracts in progress | 3 | €7,667 | €7,067 | -€599 | -7.8% |
| Stocks | 30/36 | €7,667 | €7,067 | -€599 | -7.8% |
| Amounts receivable within one year | 40/41 | €5,760 | €17,665 | +€11,905 | +207% |
| Trade receivables | 40 | - | €9,494 | +€9,494 | |
| Other amounts receivable | 41 | €5,760 | €8,171 | +€2,411 | +41.9% |
| Cash at bank and in hand | 54/58 | €4,580 | €6,138 | +€1,558 | +34.0% |
| Deferred charges and accrued income | 490/1 | - | €492 | +€492 | |
| Total equity and liabilities | 10/49 | €18,007 | €45,408 | +€27,401 | +152% |
| Equity | 10/15 | €7,050 | €21,501 | +€14,451 | +205% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,360 | €2,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,910 | €541 | +€14,451 | |
| Amounts payable | 17/49 | €10,956 | €23,907 | +€12,951 | +118% |
| Amounts payable within one year | 42/48 | €10,956 | €23,907 | +€12,951 | +118% |
| Trade debts | 44 | €10,956 | €11,879 | +€923 | +8.4% |
| Suppliers | 440/4 | €10,956 | €11,879 | +€923 | +8.4% |
| Advances received on contracts in progress | 46 | - | €10,834 | +€10,834 | |
| Taxes, remuneration and social security | 45 | - | €1,194 | +€1,194 | |
| Taxes | 450/3 | - | €1,194 | +€1,194 | |
| Other operating charges | 640/8 | €178 | €150 | -€28 | -15.7% |
| Gross operating margin | 9900 | €11,062 | €16,176 | +€5,115 | +46.2% |
| Operating profit (loss) | 9901 | €10,884 | €16,026 | +€5,143 | +47.3% |
| Financial income | 75/76B | - | €1,027 | +€1,027 | |
| Recurring financial income | 75 | - | €1,027 | +€1,027 | |
| Financial charges | 65/66B | €188 | €2,603 | +€2,415 | +1,285% |
| Recurring financial charges | 65 | €188 | €2,603 | +€2,415 | +1,285% |
| Profit (loss) for the period before taxes | 9903 | €10,696 | €14,451 | +€3,755 | +35.1% |
| Profit (loss) for the period | 9904 | €10,696 | €14,451 | +€3,755 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,696 | €14,451 | +€3,755 | +35.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.