DE NATIE: 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 NATIE
Largest movements
- Receivables within one year -€64,794
down €64,794 (-62.1%), from €104,296 to €39,503
of which Other amounts receivable: -€37,181
- Intangible fixed assets -€6,000
down €6,000 (-16.7%), from €36,000 to €30,000
- Tangible fixed assets -€4,411
down €4,411 (-13.3%), from €33,192 to €28,781
of which Plant, machinery and equipment: -€4,832
- Deferred charges and accrued income +€3,065
up €3,065 (+1,662%), from €184 to €3,249
- Cash +€1,816
up €1,816 (+331%), from €548 to €2,364
mainly Receivables within one year (+€64,794) and Tax, wage and social debts (+€23,441)
- Profit (loss) carried forward -€75,743
down €75,743 (-100%), from -€75,710 to -€151,453
- Tax, wage and social debts +€23,441
up €23,441 (+144%), from €16,298 to €39,739
of which Taxes: +€19,922
- Advances received -€13,819
down €13,819 (-14.1%), from €98,332 to €84,513
- Debts after one year -€8,864
down €8,864 (-78.0%), from €11,358 to €2,494
- Trade debts +€6,781
up €6,781 (+7.0%), from €96,684 to €103,465
- Write-downs +€71,298
new in 2025: €71,298
- Gross operating margin -€26,272
down €26,272 (-28.5%), from €92,226 to €65,953
- Taxes +€12,391
up €12,391 (+27,186%), from €46 to €12,437
- Staff costs -€8,312
down €8,312 (-18.8%), from €44,198 to €35,886
- Other operating charges +€3,210
up €3,210 (+58.3%), from €5,504 to €8,714
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 | €177,011 | €106,687 | -€70,324 | -39.7% |
| Fixed assets | 21/28 | €71,982 | €61,571 | -€10,411 | -14.5% |
| Intangible fixed assets | 21 | €36,000 | €30,000 | -€6,000 | -16.7% |
| Tangible fixed assets | 22/27 | €33,192 | €28,781 | -€4,411 | -13.3% |
| Plant, machinery and equipment | 23 | €26,668 | €21,836 | -€4,832 | -18.1% |
| Furniture and vehicles | 24 | - | €1,509 | +€1,509 | |
| Other tangible fixed assets | 26 | €6,524 | €5,437 | -€1,087 | -16.7% |
| Financial fixed assets | 28 | €2,790 | €2,790 | = | 0.0% |
| Current assets | 29/58 | €105,029 | €45,116 | -€59,913 | -57.0% |
| Amounts receivable within one year | 40/41 | €104,296 | €39,503 | -€64,794 | -62.1% |
| Trade receivables | 40 | €55,973 | €28,359 | -€27,613 | -49.3% |
| Other amounts receivable | 41 | €48,324 | €11,143 | -€37,181 | -76.9% |
| Cash at bank and in hand | 54/58 | €548 | €2,364 | +€1,816 | +331% |
| Deferred charges and accrued income | 490/1 | €184 | €3,249 | +€3,065 | +1,662% |
| Total equity and liabilities | 10/49 | €177,011 | €106,687 | -€70,324 | -39.7% |
| Equity | 10/15 | -€57,110 | -€132,853 | -€75,743 | -133% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,710 | -€151,453 | -€75,743 | -100% |
| Amounts payable | 17/49 | €234,121 | €239,540 | +€5,419 | +2.3% |
| Amounts payable after more than one year | 17 | €11,358 | €2,494 | -€8,864 | -78.0% |
| Financial debts | 170/4 | €11,358 | €2,494 | -€8,864 | -78.0% |
| Amounts payable within one year | 42/48 | €220,301 | €237,046 | +€16,746 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €8,987 | €9,330 | +€343 | +3.8% |
| Trade debts | 44 | €96,684 | €103,465 | +€6,781 | +7.0% |
| Suppliers | 440/4 | €96,684 | €103,465 | +€6,781 | +7.0% |
| Advances received on contracts in progress | 46 | €98,332 | €84,513 | -€13,819 | -14.1% |
| Taxes, remuneration and social security | 45 | €16,298 | €39,739 | +€23,441 | +144% |
| Taxes | 450/3 | €15,654 | €35,576 | +€19,922 | +127% |
| Remuneration and social security | 454/9 | €644 | €4,163 | +€3,519 | +546% |
| Accrued charges and deferred income | 492/3 | €2,463 | - | -€2,463 | |
| Remuneration, social security and pensions | 62 | €44,198 | €35,886 | -€8,312 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,920 | €11,931 | +€11 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €71,298 | +€71,298 | |
| Other operating charges | 640/8 | €5,504 | €8,714 | +€3,210 | +58.3% |
| Gross operating margin | 9900 | €92,226 | €65,953 | -€26,272 | -28.5% |
| Operating profit (loss) | 9901 | €30,603 | -€61,876 | -€92,479 | |
| Financial income | 75/76B | €232 | €2,126 | +€1,894 | +818% |
| Recurring financial income | 75 | €232 | €2,126 | +€1,894 | +818% |
| Financial charges | 65/66B | €2,006 | €3,556 | +€1,550 | +77.3% |
| Recurring financial charges | 65 | €2,006 | €3,556 | +€1,550 | +77.3% |
| Profit (loss) for the period before taxes | 9903 | €28,829 | -€63,306 | -€92,135 | |
| Income taxes | 67/77 | €46 | €12,437 | +€12,391 | +27,186% |
| Profit (loss) for the period | 9904 | €28,783 | -€75,743 | -€104,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,783 | -€75,743 | -€104,526 |
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 21 October 2026 via checked.be.