N.A.S. CONSTRUCTION: 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.
N.A.S. CONSTRUCTION
Largest movements
- Tangible fixed assets -€75,598
down €75,598 (-64.2%), from €117,824 to €42,226
of which Plant, machinery and equipment: -€97,254
- Receivables within one year -€33,757
down €33,757 (-24.4%), from €138,075 to €104,317
of which Other amounts receivable: -€28,642
- Cash +€12,826
up €12,826 (+843%), from €1,522 to €14,348
mainly Investment in fixed assets (net) (+€69,137) and Receivables within one year (+€33,757)
- Tax, wage and social debts -€50,901
down €50,901 (-78.9%), from €64,531 to €13,630
- Debts after one year -€17,396
down €17,396 (-44.3%), from €39,282 to €21,886
- Trade debts -€14,032
down €14,032 (-58.1%), from €24,164 to €10,132
- Current portion of long-term debt -€11,854
down €11,854 (-43.4%), from €27,328 to €15,474
- Other debts -€4,229
no longer reported in 2025 (was €4,229)
- Gross operating margin -€106,658
down €106,658 (-85.0%), from €125,545 to €18,887
- Other operating charges -€37,236
down €37,236 (-89.9%), from €41,406 to €4,170
- Financial charges -€24,839
down €24,839 (-86.8%), from €28,622 to €3,783
- Depreciation -€19,735
down €19,735 (-75.3%), from €26,195 to €6,461
- Taxes -€9,557
down €9,557 (-82.4%), from €11,593 to €2,037
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 | €257,556 | €161,026 | -€96,530 | -37.5% |
| Fixed assets | 21/28 | €117,959 | €42,361 | -€75,598 | -64.1% |
| Tangible fixed assets | 22/27 | €117,824 | €42,226 | -€75,598 | -64.2% |
| Plant, machinery and equipment | 23 | €117,824 | €20,571 | -€97,254 | -82.5% |
| Furniture and vehicles | 24 | - | €21,656 | +€21,656 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €139,596 | €118,665 | -€20,931 | -15.0% |
| Amounts receivable within one year | 40/41 | €138,075 | €104,317 | -€33,757 | -24.4% |
| Trade receivables | 40 | €69,096 | €63,981 | -€5,115 | -7.4% |
| Other amounts receivable | 41 | €68,979 | €40,336 | -€28,642 | -41.5% |
| Cash at bank and in hand | 54/58 | €1,522 | €14,348 | +€12,826 | +843% |
| Total equity and liabilities | 10/49 | €257,556 | €161,026 | -€96,530 | -37.5% |
| Equity | 10/15 | €98,022 | €99,905 | +€1,883 | +1.9% |
| Contributions | 10/11 | €7,750 | €7,750 | = | 0.0% |
| Contributions outside capital | 11 | €7,750 | €7,750 | = | 0.0% |
| Other | 1109/19 | €7,750 | €7,750 | = | 0.0% |
| Reserves | 13 | €90,272 | €92,155 | +€1,883 | +2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €88,412 | €90,295 | +€1,883 | +2.1% |
| Amounts payable | 17/49 | €159,534 | €61,121 | -€98,413 | -61.7% |
| Amounts payable after more than one year | 17 | €39,282 | €21,886 | -€17,396 | -44.3% |
| Financial debts | 170/4 | €39,282 | €21,886 | -€17,396 | -44.3% |
| Amounts payable within one year | 42/48 | €120,252 | €39,236 | -€81,017 | -67.4% |
| Current portion of amounts payable after more than one year | 42 | €27,328 | €15,474 | -€11,854 | -43.4% |
| Trade debts | 44 | €24,164 | €10,132 | -€14,032 | -58.1% |
| Suppliers | 440/4 | €24,164 | €10,132 | -€14,032 | -58.1% |
| Taxes, remuneration and social security | 45 | €64,531 | €13,630 | -€50,901 | -78.9% |
| Taxes | 450/3 | €64,531 | €13,630 | -€50,901 | -78.9% |
| Other amounts payable | 47/48 | €4,229 | - | -€4,229 | |
| Remuneration, social security and pensions | 62 | €1,636 | €554 | -€1,081 | -66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,195 | €6,461 | -€19,735 | -75.3% |
| Other operating charges | 640/8 | €41,406 | €4,170 | -€37,236 | -89.9% |
| Gross operating margin | 9900 | €125,545 | €18,887 | -€106,658 | -85.0% |
| Operating profit (loss) | 9901 | €56,308 | €7,703 | -€48,606 | -86.3% |
| Financial income | 75/76B | €8,705 | - | -€8,705 | |
| Recurring financial income | 75 | €8,705 | - | -€8,705 | |
| Non-recurring financial income | 76B | €8,705 | - | -€8,705 | |
| Financial charges | 65/66B | €28,622 | €3,783 | -€24,839 | -86.8% |
| Recurring financial charges | 65 | €28,622 | €3,783 | -€24,839 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | €36,391 | €3,920 | -€32,472 | -89.2% |
| Income taxes | 67/77 | €11,593 | €2,037 | -€9,557 | -82.4% |
| Profit (loss) for the period | 9904 | €24,798 | €1,883 | -€22,915 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,798 | €1,883 | -€22,915 | -92.4% |
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 26 October 2026 via checked.be.