NACFER10: 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.
NACFER10
Largest movements
- Receivables within one year -€37,565
down €37,565 (-81.2%), from €46,264 to €8,700
of which Trade receivables: -€40,232
- Tangible fixed assets +€19,563
up €19,563 (+232.0%), from €8,433 to €27,996
of which Other tangible fixed assets: +€18,215
- Deferred charges and accrued income +€9,395
new in 2025: €9,395
- Stocks and contracts +€6,120
new in 2025: €6,120
of which Contracts in progress: +€5,428
- Cash +€2,243
up €2,243 (+223.7%), from €1,003 to €3,246
mainly Receivables within one year (+€37,565) and Other debts (+€33,591)
- Other debts +€33,591
up €33,591 (+290.7%), from €11,556 to €45,147
- Reserves -€31,800
down €31,800 (-100.0%), from €31,800 to €0
- Tax, wage and social debts -€3,902
down €3,902 (-56.0%), from €6,965 to €3,064
of which Taxes: -€4,339
- Advances received +€3,470
new in 2025: €3,470
- Profit (loss) carried forward -€1,368
down €1,368, from €66 to -€1,302
- Gross operating margin -€52,717
down €52,717, from €41,017 to -€11,700
- Write-downs +€18,006
new in 2025: €18,006
- Taxes -€8,358
down €8,358 (-100.0%), from €8,358 to €0
- Other operating charges +€1,402
up €1,402 (+320.6%), from €437 to €1,840
- Depreciation +€837
up €837 (+314.7%), from €266 to €1,103
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 | €55,700 | €55,456 | -€244 | -0.4% |
| Fixed assets | 21/28 | €8,433 | €27,996 | +€19,563 | +232.0% |
| Tangible fixed assets | 22/27 | €8,433 | €27,996 | +€19,563 | +232.0% |
| Furniture and vehicles | 24 | €1,181 | €2,529 | +€1,348 | +114.1% |
| Other tangible fixed assets | 26 | €7,252 | €25,467 | +€18,215 | +251.2% |
| Current assets | 29/58 | €47,267 | €27,460 | -€19,807 | -41.9% |
| Stocks and contracts in progress | 3 | - | €6,120 | +€6,120 | |
| Stocks | 30/36 | - | €692 | +€692 | |
| Contracts in progress | 37 | - | €5,428 | +€5,428 | |
| Amounts receivable within one year | 40/41 | €46,264 | €8,700 | -€37,565 | -81.2% |
| Trade receivables | 40 | €46,264 | €6,032 | -€40,232 | -87.0% |
| Other amounts receivable | 41 | - | €2,667 | +€2,667 | |
| Cash at bank and in hand | 54/58 | €1,003 | €3,246 | +€2,243 | +223.7% |
| Deferred charges and accrued income | 490/1 | - | €9,395 | +€9,395 | |
| Total equity and liabilities | 10/49 | €55,700 | €55,456 | -€244 | -0.4% |
| Equity | 10/15 | €34,866 | €1,698 | -€33,168 | -95.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €31,800 | €0 | -€31,800 | -100.0% |
| Distributable reserves | 133 | €31,800 | €0 | -€31,800 | -100.0% |
| Profit (loss) carried forward | 14 | €66 | -€1,302 | -€1,368 | |
| Amounts payable | 17/49 | €20,834 | €53,758 | +€32,924 | +158.0% |
| Amounts payable within one year | 42/48 | €20,834 | €53,758 | +€32,924 | +158.0% |
| Trade debts | 44 | €2,312 | €2,077 | -€235 | -10.2% |
| Suppliers | 440/4 | €2,312 | €2,077 | -€235 | -10.2% |
| Advances received on contracts in progress | 46 | - | €3,470 | +€3,470 | |
| Taxes, remuneration and social security | 45 | €6,965 | €3,064 | -€3,902 | -56.0% |
| Taxes | 450/3 | €5,824 | €1,484 | -€4,339 | -74.5% |
| Remuneration and social security | 454/9 | €1,142 | €1,579 | +€437 | +38.3% |
| Other amounts payable | 47/48 | €11,556 | €45,147 | +€33,591 | +290.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266 | €1,103 | +€837 | +314.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,006 | +€18,006 | |
| Other operating charges | 640/8 | €437 | €1,840 | +€1,402 | +320.6% |
| Gross operating margin | 9900 | €41,017 | -€11,700 | -€52,717 | |
| Operating profit (loss) | 9901 | €40,314 | -€32,649 | -€72,962 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €90 | €519 | +€429 | +477.7% |
| Recurring financial charges | 65 | €90 | €519 | +€429 | +477.7% |
| Profit (loss) for the period before taxes | 9903 | €40,224 | -€33,168 | -€73,392 | |
| Income taxes | 67/77 | €8,358 | €0 | -€8,358 | -100.0% |
| Profit (loss) for the period | 9904 | €31,866 | -€33,168 | -€65,033 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,866 | -€33,168 | -€65,033 |
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.