N.D. BAT: 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.D. BAT
Largest movements
- Receivables within one year -€84,871
down €84,871 (-86.5%), from €98,147 to €13,276
of which Trade receivables: -€78,467
- Cash -€34,368
down €34,368 (-79.7%), from €43,116 to €8,748
mainly Trade debts (-€72,205) and Contributions, distributions and other (-€47,059)
- Tangible fixed assets +€16,670
up €16,670 (+99.4%), from €16,767 to €33,438
of which Furniture and vehicles: +€16,509
- Trade debts -€72,205
down €72,205 (-80.5%), from €89,680 to €17,475
- Advances received -€29,000
down €29,000 (-100%), from €29,000 to €0
- Profit (loss) carried forward -€16,539
down €16,539 (-60.4%), from €27,363 to €10,824
- Debts after one year +€11,136
up €11,136, from €0 to €11,136
- Tax, wage and social debts +€2,461
up €2,461 (+79.4%), from €3,100 to €5,561
of which Taxes: +€3,411
- Gross operating margin +€27,455
up €27,455 (+103%), from €26,602 to €54,058
- Depreciation +€7,164
up €7,164 (+96.9%), from €7,397 to €14,561
- Taxes +€6,411
new in 2025: €6,411
- Financial charges +€685
up €685 (+77.7%), from €883 to €1,568
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 | €158,401 | €57,153 | -€101,248 | -63.9% |
| Fixed assets | 21/28 | €16,767 | €33,438 | +€16,670 | +99.4% |
| Tangible fixed assets | 22/27 | €16,767 | €33,438 | +€16,670 | +99.4% |
| Plant, machinery and equipment | 23 | €2,582 | €2,743 | +€161 | +6.2% |
| Furniture and vehicles | 24 | €14,186 | €30,694 | +€16,509 | +116% |
| Current assets | 29/58 | €141,634 | €23,715 | -€117,918 | -83.3% |
| Amounts receivable within one year | 40/41 | €98,147 | €13,276 | -€84,871 | -86.5% |
| Trade receivables | 40 | €83,935 | €5,468 | -€78,467 | -93.5% |
| Other amounts receivable | 41 | €14,212 | €7,808 | -€6,404 | -45.1% |
| Cash at bank and in hand | 54/58 | €43,116 | €8,748 | -€34,368 | -79.7% |
| Deferred charges and accrued income | 490/1 | €371 | €1,691 | +€1,321 | +356% |
| Total equity and liabilities | 10/49 | €158,401 | €57,153 | -€101,248 | -63.9% |
| Equity | 10/15 | €28,463 | €11,924 | -€16,539 | -58.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,363 | €10,824 | -€16,539 | -60.4% |
| Amounts payable | 17/49 | €129,938 | €45,229 | -€84,709 | -65.2% |
| Amounts payable after more than one year | 17 | €0 | €11,136 | +€11,136 | |
| Financial debts | 170/4 | €0 | €11,136 | +€11,136 | |
| Amounts payable within one year | 42/48 | €129,938 | €34,093 | -€95,845 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €4,308 | €5,255 | +€948 | +22.0% |
| Trade debts | 44 | €89,680 | €17,475 | -€72,205 | -80.5% |
| Suppliers | 440/4 | €89,680 | €17,475 | -€72,205 | -80.5% |
| Advances received on contracts in progress | 46 | €29,000 | €0 | -€29,000 | -100% |
| Taxes, remuneration and social security | 45 | €3,100 | €5,561 | +€2,461 | +79.4% |
| Taxes | 450/3 | €0 | €3,411 | +€3,411 | |
| Remuneration and social security | 454/9 | €3,100 | €2,150 | -€950 | -30.6% |
| Other amounts payable | 47/48 | €3,850 | €5,801 | +€1,950 | +50.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,397 | €14,561 | +€7,164 | +96.9% |
| Other operating charges | 640/8 | €536 | €1,053 | +€517 | +96.5% |
| Non-recurring operating charges | 66A | €8 | €0 | -€8 | -100% |
| Gross operating margin | 9900 | €26,602 | €54,058 | +€27,455 | +103% |
| Operating profit (loss) | 9901 | €18,662 | €38,444 | +€19,782 | +106% |
| Financial income | 75/76B | €144 | €56 | -€89 | -61.5% |
| Recurring financial income | 75 | €144 | €56 | -€89 | -61.5% |
| Financial charges | 65/66B | €883 | €1,568 | +€685 | +77.7% |
| Recurring financial charges | 65 | €883 | €1,568 | +€685 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | €17,923 | €36,931 | +€19,008 | +106% |
| Income taxes | 67/77 | - | €6,411 | +€6,411 | |
| Profit (loss) for the period | 9904 | €17,923 | €30,520 | +€12,596 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,923 | €30,520 | +€12,596 | +70.3% |
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 18 October 2026 via checked.be.