NABAD: 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.
NABAD
Largest movements
- Receivables within one year +€7,993
up €7,993 (+15.7%), from €50,883 to €58,876
of which Other amounts receivable: +€6,005
- Deferred charges and accrued income -€919
down €919 (-100%), from €919 to €0
- Profit (loss) carried forward +€25,507
up €25,507 (+117%), from €21,756 to €47,263
- Trade debts -€20,265
down €20,265 (-98.8%), from €20,511 to €246
of which Bills of exchange payable: -€16,434
- Tax, wage and social debts +€2,433
up €2,433 (+15.5%), from €15,746 to €18,180
of which Taxes: +€1,238
- Financial charges +€23,927
up €23,927 (+1,557%), from €1,537 to €25,463
- Gross operating margin +€17,892
up €17,892 (+32.9%), from €54,465 to €72,358
- Taxes -€3,772
down €3,772 (-30.5%), from €12,378 to €8,606
- Other operating charges -€2,394
down €2,394 (-55.4%), from €4,322 to €1,928
- Staff costs +€1,039
up €1,039 (+19.0%), from €5,463 to €6,502
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 | €64,213 | €71,889 | +€7,676 | +12.0% |
| Fixed assets | 21/28 | €10,752 | €10,989 | +€238 | +2.2% |
| Tangible fixed assets | 22/27 | €10,752 | €10,989 | +€238 | +2.2% |
| Furniture and vehicles | 24 | €4,054 | €6,876 | +€2,822 | +69.6% |
| Other tangible fixed assets | 26 | €6,698 | €4,114 | -€2,584 | -38.6% |
| Current assets | 29/58 | €53,461 | €60,899 | +€7,438 | +13.9% |
| Amounts receivable within one year | 40/41 | €50,883 | €58,876 | +€7,993 | +15.7% |
| Trade receivables | 40 | €8,634 | €10,622 | +€1,988 | +23.0% |
| Other amounts receivable | 41 | €42,249 | €48,254 | +€6,005 | +14.2% |
| Cash at bank and in hand | 54/58 | €1,658 | €2,023 | +€365 | +22.0% |
| Deferred charges and accrued income | 490/1 | €919 | €0 | -€919 | -100% |
| Total equity and liabilities | 10/49 | €64,213 | €71,889 | +€7,676 | +12.0% |
| Equity | 10/15 | €27,956 | €53,463 | +€25,507 | +91.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,756 | €47,263 | +€25,507 | +117% |
| Amounts payable | 17/49 | €36,257 | €18,426 | -€17,832 | -49.2% |
| Amounts payable within one year | 42/48 | €36,257 | €18,426 | -€17,832 | -49.2% |
| Trade debts | 44 | €20,511 | €246 | -€20,265 | -98.8% |
| Suppliers | 440/4 | €4,077 | €246 | -€3,831 | -94.0% |
| Bills of exchange payable | 441 | €16,434 | €0 | -€16,434 | -100% |
| Taxes, remuneration and social security | 45 | €15,746 | €18,180 | +€2,433 | +15.5% |
| Taxes | 450/3 | €15,479 | €16,717 | +€1,238 | +8.0% |
| Remuneration and social security | 454/9 | €268 | €1,463 | +€1,196 | +447% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €5,463 | €6,502 | +€1,039 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,120 | €4,351 | -€768 | -15.0% |
| Other operating charges | 640/8 | €4,322 | €1,928 | -€2,394 | -55.4% |
| Gross operating margin | 9900 | €54,465 | €72,358 | +€17,892 | +32.9% |
| Operating profit (loss) | 9901 | €39,560 | €59,577 | +€20,016 | +50.6% |
| Financial income | 75/76B | €677 | €0 | -€677 | -100% |
| Recurring financial income | 75 | €677 | €0 | -€677 | -100% |
| Financial charges | 65/66B | €1,537 | €25,463 | +€23,927 | +1,557% |
| Recurring financial charges | 65 | €1,537 | €25,463 | +€23,927 | +1,557% |
| Profit (loss) for the period before taxes | 9903 | €38,701 | €34,113 | -€4,588 | -11.9% |
| Income taxes | 67/77 | €12,378 | €8,606 | -€3,772 | -30.5% |
| Profit (loss) for the period | 9904 | €26,323 | €25,507 | -€816 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,323 | €25,507 | -€816 | -3.1% |
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 16 October 2026 via checked.be.