N.A.T.: what changed
Two fiscal 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.T.
Largest movements
- Tangible fixed assets -€22,979
down €22,979 (-7.3%), from €315,140 to €292,161
of which Plant, machinery and equipment: -€14,999
- Debts after one year -€13,080
down €13,080 (-23.1%), from €56,730 to €43,650
- Profit (loss) carried forward -€6,922
down €6,922 (-24.2%), from -€28,623 to -€35,545
- Financial charges -€446
down €446 (-14.3%), from €3,127 to €2,681
- Gross operating margin +€356
up €356 (+1.8%), from €19,318 to €19,674
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.
Cash bridge derived
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 | €332,592 | €313,011 | -€19,581 | -5.9% |
| Fixed assets | 21/28 | €315,140 | €292,161 | -€22,979 | -7.3% |
| Tangible fixed assets | 22/27 | €315,140 | €292,161 | -€22,979 | -7.3% |
| Land and buildings | 22 | €141,459 | €133,480 | -€7,980 | -5.6% |
| Plant, machinery and equipment | 23 | €173,681 | €158,682 | -€14,999 | -8.6% |
| Current assets | 29/58 | €17,452 | €20,850 | +€3,397 | +19.5% |
| Amounts receivable within one year | 40/41 | €11,500 | €11,500 | = | 0.0% |
| Other amounts receivable | 41 | €11,500 | €11,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,174 | €4,441 | +€2,267 | +104.3% |
| Deferred charges and accrued income | 490/1 | €3,778 | €4,909 | +€1,130 | +29.9% |
| Total equity and liabilities | 10/49 | €332,592 | €313,011 | -€19,581 | -5.9% |
| Equity | 10/15 | -€8,163 | -€15,085 | -€6,922 | -84.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,623 | -€35,545 | -€6,922 | -24.2% |
| Amounts payable | 17/49 | €340,755 | €328,096 | -€12,659 | -3.7% |
| Amounts payable after more than one year | 17 | €56,730 | €43,650 | -€13,080 | -23.1% |
| Financial debts | 170/4 | €56,730 | €43,650 | -€13,080 | -23.1% |
| Amounts payable within one year | 42/48 | €284,025 | €284,446 | +€421 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €12,587 | €13,080 | +€494 | +3.9% |
| Trade debts | 44 | €181 | €109 | -€73 | -40.0% |
| Suppliers | 440/4 | €181 | €109 | -€73 | -40.0% |
| Other amounts payable | 47/48 | €271,257 | €271,257 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,979 | €22,979 | = | 0.0% |
| Other operating charges | 640/8 | €911 | €937 | +€26 | +2.8% |
| Gross operating margin | 9900 | €19,318 | €19,674 | +€356 | +1.8% |
| Operating profit (loss) | 9901 | -€4,571 | -€4,242 | +€330 | +7.2% |
| Financial charges | 65/66B | €3,127 | €2,681 | -€446 | -14.3% |
| Recurring financial charges | 65 | €3,127 | €2,681 | -€446 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,698 | -€6,922 | +€776 | +10.1% |
| Profit (loss) for the period | 9904 | -€7,698 | -€6,922 | +€776 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,698 | -€6,922 | +€776 | +10.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.