Gérard Nadine: what changed
Gérard Nadine
Largest movements
- Cash +€13,105
up €13,105 (+67.1%), from €19,521 to €32,626
mainly Net result for the year (+€21,654) and Depreciation (+€6,773)
- Tangible fixed assets -€5,162
down €5,162 (-4.0%), from €128,426 to €123,264
of which Land and buildings: -€5,183
- Deferred charges and accrued income -€3,133
down €3,133 (-86.8%), from €3,609 to €477
- Reserves +€19,000
up €19,000 (+24.2%), from €78,500 to €97,500
- Debts after one year -€12,765
down €12,765 (-43.3%), from €29,483 to €16,719
- Current portion of long-term debt -€1,784
down €1,784 (-12.3%), from €14,548 to €12,765
- Turnover -€96,198
no longer reported in 2025 (was €96,198)
- Purchases and services -€69,043
no longer reported in 2025 (was €69,043)
- Gross operating margin +€14,473
up €14,473 (+53.3%), from €27,155 to €41,628
- Taxes +€1,171
up €1,171 (+19.9%), from €5,890 to €7,061
- Other operating charges +€1,044
up €1,044 (+87.3%), from €1,196 to €2,240
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,431 | €157,872 | +€5,441 | +3.6% |
| Fixed assets | 21/28 | €128,426 | €123,264 | -€5,162 | -4.0% |
| Tangible fixed assets | 22/27 | €128,426 | €123,264 | -€5,162 | -4.0% |
| Land and buildings | 22 | €126,190 | €121,007 | -€5,183 | -4.1% |
| Plant, machinery and equipment | 23 | €1,354 | €880 | -€475 | -35.0% |
| Furniture and vehicles | 24 | €881 | €1,377 | +€496 | +56.3% |
| Current assets | 29/58 | €24,005 | €34,608 | +€10,603 | +44.2% |
| Amounts receivable within one year | 40/41 | €875 | €1,506 | +€631 | +72.1% |
| Trade receivables | 40 | €875 | €1,506 | +€631 | +72.1% |
| Cash at bank and in hand | 54/58 | €19,521 | €32,626 | +€13,105 | +67.1% |
| Deferred charges and accrued income | 490/1 | €3,609 | €477 | -€3,133 | -86.8% |
| Total equity and liabilities | 10/49 | €152,431 | €157,872 | +€5,441 | +3.6% |
| Equity | 10/15 | €89,516 | €109,171 | +€19,654 | +22.0% |
| Contributions | 10/11 | €6,820 | €6,820 | = | 0.0% |
| Reserves | 13 | €78,500 | €97,500 | +€19,000 | +24.2% |
| Distributable reserves | 133 | €78,500 | €97,500 | +€19,000 | +24.2% |
| Profit (loss) carried forward | 14 | €4,196 | €4,851 | +€654 | +15.6% |
| Amounts payable | 17/49 | €62,915 | €48,702 | -€14,213 | -22.6% |
| Amounts payable after more than one year | 17 | €29,483 | €16,719 | -€12,765 | -43.3% |
| Financial debts | 170/4 | €29,483 | €16,719 | -€12,765 | -43.3% |
| Amounts payable within one year | 42/48 | €33,431 | €31,983 | -€1,449 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €14,548 | €12,765 | -€1,784 | -12.3% |
| Trade debts | 44 | €3,030 | €1,509 | -€1,520 | -50.2% |
| Suppliers | 440/4 | €3,030 | €1,509 | -€1,520 | -50.2% |
| Taxes, remuneration and social security | 45 | €12,448 | €12,831 | +€383 | +3.1% |
| Taxes | 450/3 | €12,448 | €12,231 | -€217 | -1.7% |
| Remuneration and social security | 454/9 | - | €600 | +€600 | |
| Other amounts payable | 47/48 | €3,406 | €4,878 | +€1,472 | +43.2% |
| Turnover | 70 | €96,198 | - | -€96,198 | |
| Goods, raw materials, services and sundry goods | 60/61 | €69,043 | - | -€69,043 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,610 | €6,773 | +€163 | +2.5% |
| Other operating charges | 640/8 | €1,196 | €2,240 | +€1,044 | +87.3% |
| Gross operating margin | 9900 | €27,155 | €41,628 | +€14,473 | +53.3% |
| Operating profit (loss) | 9901 | €19,349 | €32,615 | +€13,266 | +68.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,216 | €3,900 | +€683 | +21.2% |
| Recurring financial charges | 65 | €3,216 | €3,900 | +€683 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €16,133 | €28,715 | +€12,582 | +78.0% |
| Income taxes | 67/77 | €5,890 | €7,061 | +€1,171 | +19.9% |
| Profit (loss) for the period | 9904 | €10,243 | €21,654 | +€11,412 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €10,243 | €21,654 | +€11,412 | +111% |
Next steps
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 3 November 2026 via checked.be.