Nacé Holding: 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.
Nacé Holding
Largest movements
- Current investments +€30,780
up €30,780 (+39.7%), from €77,610 to €108,390
- Cash +€26,700
up €26,700 (+63.5%), from €42,038 to €68,738
mainly Net result for the year (+€43,213) and Receivables within one year (+€8,187)
- Receivables within one year -€8,187
down €8,187 (-47.2%), from €17,331 to €9,144
of which Other amounts receivable: -€6,297
- Reserves +€43,213
up €43,213 (+45.2%), from €95,660 to €138,873
- Tax, wage and social debts +€7,615
up €7,615 (+21.8%), from €35,001 to €42,616
of which Taxes: +€9,595
- Gross operating margin -€26,618
down €26,618 (-32.7%), from €81,450 to €54,832
- Taxes -€11,134
down €11,134 (-48.4%), from €23,018 to €11,884
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 | €136,979 | €188,049 | +€51,069 | +37.3% |
| Fixed assets | 21/28 | - | €1,777 | +€1,777 | |
| Tangible fixed assets | 22/27 | - | €1,777 | +€1,777 | |
| Furniture and vehicles | 24 | - | €1,777 | +€1,777 | |
| Current assets | 29/58 | €136,979 | €186,272 | +€49,292 | +36.0% |
| Amounts receivable within one year | 40/41 | €17,331 | €9,144 | -€8,187 | -47.2% |
| Trade receivables | 40 | €10,890 | €9,000 | -€1,890 | -17.4% |
| Other amounts receivable | 41 | €6,441 | €144 | -€6,297 | -97.8% |
| Current investments | 50/53 | €77,610 | €108,390 | +€30,780 | +39.7% |
| Cash at bank and in hand | 54/58 | €42,038 | €68,738 | +€26,700 | +63.5% |
| Total equity and liabilities | 10/49 | €136,979 | €188,049 | +€51,069 | +37.3% |
| Equity | 10/15 | €100,660 | €143,873 | +€43,213 | +42.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €95,660 | €138,873 | +€43,213 | +45.2% |
| Distributable reserves | 133 | €95,660 | €138,873 | +€43,213 | +45.2% |
| Amounts payable | 17/49 | €36,319 | €44,176 | +€7,856 | +21.6% |
| Amounts payable within one year | 42/48 | €36,319 | €44,176 | +€7,856 | +21.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,318 | €1,560 | +€242 | +18.4% |
| Suppliers | 440/4 | €1,318 | €1,560 | +€242 | +18.4% |
| Taxes, remuneration and social security | 45 | €35,001 | €42,616 | +€7,615 | +21.8% |
| Taxes | 450/3 | €31,013 | €40,608 | +€9,595 | +30.9% |
| Remuneration and social security | 454/9 | €3,988 | €2,008 | -€1,980 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €372 | +€372 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €81,450 | €54,832 | -€26,618 | -32.7% |
| Operating profit (loss) | 9901 | €81,063 | €54,060 | -€27,002 | -33.3% |
| Financial income | 75/76B | €410 | €1,114 | +€703 | +171% |
| Recurring financial income | 75 | €410 | €1,114 | +€703 | +171% |
| Financial charges | 65/66B | €55 | €77 | +€22 | +39.6% |
| Recurring financial charges | 65 | €55 | €77 | +€22 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €81,418 | €55,097 | -€26,321 | -32.3% |
| Income taxes | 67/77 | €23,018 | €11,884 | -€11,134 | -48.4% |
| Profit (loss) for the period | 9904 | €58,399 | €43,213 | -€15,186 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,399 | €43,213 | -€15,186 | -26.0% |
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 20 October 2026 via checked.be.