DE NACHTEGAAL: what changed
What changed
DE NACHTEGAAL
NACE 38.330, Waste collection, recovery and disposal activities
filed annual accounts (NBB)
Net result for the year
€23,662
2024 · €4,535+€19,127
Equity
€172,821
2024 · €149,159+€23,662
Cash
€36,371
2024 · €26,810+€9,561
Balance sheet total
€764,346
2024 · €614,754+€149,593
Largest movements
Assets
- Tangible fixed assets +€113,948
up €113,948 (+27.9%), from €408,280 to €522,228
of which Leasing and similar rights: +€107,731
- Receivables within one year +€24,974
up €24,974 (+14.4%), from €172,940 to €197,915
of which Trade receivables: +€24,914
- Cash +€9,561
up €9,561 (+35.7%), from €26,810 to €36,371
mainly Depreciation (+€109,757) and Other debts (+€45,517)
Equity and liabilities
- Other debts +€45,517
up €45,517 (+20.2%), from €225,524 to €271,041
- Debts after one year +€35,189
up €35,189 (+48.5%), from €72,500 to €107,689
- Short-term financial debts +€35,000
new in 2025: €35,000
- Current portion of long-term debt +€24,823
up €24,823 (+76.4%), from €32,500 to €57,323
- Reserves +€23,662
up €23,662 (+20.0%), from €118,159 to €141,821
Income statement
- Gross operating margin +€30,327
up €30,327 (+26.9%), from €112,761 to €143,088
- Depreciation +€11,411
up €11,411 (+11.6%), from €98,346 to €109,757
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4,535
Gross operating margin
+€30,327
Depreciation
-€11,411
Other operating charges
+€89
Financial income
+€0
Financial charges
+€527
Taxes
-€405
Result 2025
€23,662
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€138,254
Investment
-€223,705
Financing
+€95,012
Cash 2024
€26,810
From operations (derived)
+€138,254
Net result for the year
+€23,662
Depreciation
+€109,757
Receivables within one year
-€24,974
Deferred charges and accrued income
-€1,110
Trade debts
-€11,455
Tax, wage and social debts
+€1,510
Other debts
+€45,517
Accrued charges and deferred income
-€4,653
Investment (derived)
-€223,705
Investment in fixed assets (net)
-€223,705
Financing
+€95,012
Debts after one year
+€35,189
Current portion of long-term debt
+€24,823
Short-term financial debts
+€35,000
Cash 2025
€36,371
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €614,754 | €764,346 | +€149,593 | +24.3% |
| Fixed assets | 21/28 | €408,280 | €522,228 | +€113,948 | +27.9% |
| Tangible fixed assets | 22/27 | €408,280 | €522,228 | +€113,948 | +27.9% |
| Land and buildings | 22 | €308,849 | €326,599 | +€17,750 | +5.7% |
| Plant, machinery and equipment | 23 | €99,265 | €87,898 | -€11,367 | -11.5% |
| Furniture and vehicles | 24 | €166 | €0 | -€166 | -100% |
| Leasing and similar rights | 25 | - | €107,731 | +€107,731 | |
| Current assets | 29/58 | €206,474 | €242,119 | +€35,645 | +17.3% |
| Amounts receivable within one year | 40/41 | €172,940 | €197,915 | +€24,974 | +14.4% |
| Trade receivables | 40 | €172,940 | €197,855 | +€24,914 | +14.4% |
| Other amounts receivable | 41 | - | €60 | +€60 | |
| Cash at bank and in hand | 54/58 | €26,810 | €36,371 | +€9,561 | +35.7% |
| Deferred charges and accrued income | 490/1 | €6,723 | €7,833 | +€1,110 | +16.5% |
| Total equity and liabilities | 10/49 | €614,754 | €764,346 | +€149,593 | +24.3% |
| Equity | 10/15 | €149,159 | €172,821 | +€23,662 | +15.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €118,159 | €141,821 | +€23,662 | +20.0% |
| Distributable reserves | 133 | €118,159 | €141,821 | +€23,662 | +20.0% |
| Amounts payable | 17/49 | €465,595 | €591,526 | +€125,931 | +27.0% |
| Amounts payable after more than one year | 17 | €72,500 | €107,689 | +€35,189 | +48.5% |
| Financial debts | 170/4 | €72,500 | €107,689 | +€35,189 | +48.5% |
| Amounts payable within one year | 42/48 | €387,519 | €482,914 | +€95,395 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €32,500 | €57,323 | +€24,823 | +76.4% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €97,332 | €85,877 | -€11,455 | -11.8% |
| Suppliers | 440/4 | €97,332 | €85,877 | -€11,455 | -11.8% |
| Taxes, remuneration and social security | 45 | €32,163 | €33,673 | +€1,510 | +4.7% |
| Taxes | 450/3 | €13,313 | €14,823 | +€1,510 | +11.3% |
| Remuneration and social security | 454/9 | €18,850 | €18,850 | = | 0.0% |
| Other amounts payable | 47/48 | €225,524 | €271,041 | +€45,517 | +20.2% |
| Accrued charges and deferred income | 492/3 | €5,576 | €923 | -€4,653 | -83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,346 | €109,757 | +€11,411 | +11.6% |
| Other operating charges | 640/8 | €1,492 | €1,404 | -€89 | -5.9% |
| Gross operating margin | 9900 | €112,761 | €143,088 | +€30,327 | +26.9% |
| Operating profit (loss) | 9901 | €12,923 | €31,927 | +€19,005 | +147% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,286 | €4,759 | -€527 | -10.0% |
| Recurring financial charges | 65 | €5,286 | €4,759 | -€527 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €7,637 | €27,169 | +€19,532 | +256% |
| Income taxes | 67/77 | €3,102 | €3,507 | +€405 | +13.0% |
| Profit (loss) for the period | 9904 | €4,535 | €23,662 | +€19,127 | +422% |
| Profit (loss) for the period to be appropriated | 9905 | €4,535 | €23,662 | +€19,127 | +422% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.