NAC: 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.
NAC
Largest movements
- Receivables after one year +€3,356
up €3,356 (+1.6%), from €212,115 to €215,471
- Debts after one year +€2,900
up €2,900 (+5.2%), from €55,710 to €58,610
- Financial income +€61
up €61 (+2.4%), from €2,515 to €2,576
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €212,194 | €215,546 | +€3,352 | +1.6% |
| Current assets | 29/58 | €212,194 | €215,546 | +€3,352 | +1.6% |
| Amounts receivable after more than one year | 29 | €212,115 | €215,471 | +€3,356 | +1.6% |
| Other amounts receivable | 291 | €212,115 | €215,471 | +€3,356 | +1.6% |
| Cash at bank and in hand | 54/58 | €78 | €74 | -€4 | -5.5% |
| Total equity and liabilities | 10/49 | €212,194 | €215,546 | +€3,352 | +1.6% |
| Equity | 10/15 | €154,411 | €152,982 | -€1,429 | -0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €92,411 | €90,982 | -€1,429 | -1.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €86,211 | €84,782 | -€1,429 | -1.7% |
| Amounts payable | 17/49 | €57,783 | €62,564 | +€4,781 | +8.3% |
| Amounts payable after more than one year | 17 | €55,710 | €58,610 | +€2,900 | +5.2% |
| Other amounts payable | 178/9 | €55,710 | €58,610 | +€2,900 | +5.2% |
| Amounts payable within one year | 42/48 | €2,073 | €3,954 | +€1,881 | +90.7% |
| Trade debts | 44 | €1,125 | €1,574 | +€449 | +39.9% |
| Suppliers | 440/4 | €1,125 | €1,574 | +€449 | +39.9% |
| Other amounts payable | 47/48 | €948 | €2,380 | +€1,432 | +150.9% |
| Other operating charges | 640/8 | €44 | €44 | = | 0.0% |
| Gross operating margin | 9900 | -€2,642 | -€2,643 | -€2 | -0.1% |
| Operating profit (loss) | 9901 | -€2,686 | -€2,687 | -€2 | -0.1% |
| Financial income | 75/76B | €2,515 | €2,576 | +€61 | +2.4% |
| Recurring financial income | 75 | €2,515 | €2,576 | +€61 | +2.4% |
| Financial charges | 65/66B | €252 | €252 | -€0 | 0.0% |
| Recurring financial charges | 65 | €252 | €252 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€423 | -€364 | +€59 | +14.0% |
| Profit (loss) for the period | 9904 | -€423 | -€364 | +€59 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€423 | -€364 | +€59 | +14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.