NaCH: 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.
NaCH
Largest movements
- Financial fixed assets +€22,082
up €22,082 (+15.1%), from €145,820 to €167,902
- Receivables within one year -€21,479
down €21,479 (-81.1%), from €26,469 to €4,990
of which Trade receivables: -€21,360
- Tangible fixed assets +€14,091
up €14,091 (+235.6%), from €5,980 to €20,072
- Cash -€3,366
down €3,366 (-16.6%), from €20,296 to €16,930
mainly Contributions, distributions and other (-€58,824) and Investment in fixed assets (net) (-€41,790)
- Other debts +€60,397
up €60,397 (+263.8%), from €22,896 to €83,293
- Profit (loss) carried forward -€31,595
down €31,595 (-40.5%), from €78,108 to €46,513
- Debts after one year -€23,678
no longer reported in 2025 (was €23,678)
- Tax, wage and social debts +€5,557
up €5,557 (+42.7%), from €13,025 to €18,582
- Provisions -€31,800
no longer reported in 2025 (was €31,800)
- Financial charges +€29,562
up €29,562 (+3353.3%), from €882 to €30,444
- Taxes -€12,479
down €12,479 (-51.9%), from €24,056 to €11,577
- Gross operating margin -€7,691
down €7,691 (-9.5%), from €81,141 to €73,449
- Financial income -€5,684
down €5,684 (-75.8%), from €7,500 to €1,816
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 | €201,000 | €212,382 | +€11,381 | +5.7% |
| Fixed assets | 21/28 | €151,801 | €187,974 | +€36,173 | +23.8% |
| Tangible fixed assets | 22/27 | €5,980 | €20,072 | +€14,091 | +235.6% |
| Furniture and vehicles | 24 | €5,980 | €20,072 | +€14,091 | +235.6% |
| Financial fixed assets | 28 | €145,820 | €167,902 | +€22,082 | +15.1% |
| Current assets | 29/58 | €49,200 | €24,408 | -€24,792 | -50.4% |
| Amounts receivable within one year | 40/41 | €26,469 | €4,990 | -€21,479 | -81.1% |
| Trade receivables | 40 | €21,360 | - | -€21,360 | |
| Other amounts receivable | 41 | €5,109 | €4,990 | -€119 | -2.3% |
| Cash at bank and in hand | 54/58 | €20,296 | €16,930 | -€3,366 | -16.6% |
| Deferred charges and accrued income | 490/1 | €2,434 | €2,488 | +€54 | +2.2% |
| Total equity and liabilities | 10/49 | €201,000 | €212,382 | +€11,381 | +5.7% |
| Equity | 10/15 | €81,108 | €49,513 | -€31,595 | -39.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,108 | €46,513 | -€31,595 | -40.5% |
| Provisions and deferred taxes | 16 | €31,800 | €31,800 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €31,800 | €31,800 | = | 0.0% |
| Other liabilities and charges | 164/5 | €31,800 | €31,800 | = | 0.0% |
| Amounts payable | 17/49 | €88,092 | €131,069 | +€42,976 | +48.8% |
| Amounts payable after more than one year | 17 | €23,678 | - | -€23,678 | |
| Financial debts | 170/4 | €23,678 | - | -€23,678 | |
| Amounts payable within one year | 42/48 | €64,415 | €131,069 | +€66,654 | +103.5% |
| Current portion of amounts payable after more than one year | 42 | €23,385 | €23,678 | +€292 | +1.3% |
| Trade debts | 44 | €5,109 | €5,516 | +€407 | +8.0% |
| Suppliers | 440/4 | €5,109 | €5,516 | +€407 | +8.0% |
| Taxes, remuneration and social security | 45 | €13,025 | €18,582 | +€5,557 | +42.7% |
| Taxes | 450/3 | €13,025 | €18,582 | +€5,557 | +42.7% |
| Other amounts payable | 47/48 | €22,896 | €83,293 | +€60,397 | +263.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,392 | €5,617 | +€1,225 | +27.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €31,800 | - | -€31,800 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €81,141 | €73,449 | -€7,691 | -9.5% |
| Operating profit (loss) | 9901 | €44,562 | €67,433 | +€22,871 | +51.3% |
| Financial income | 75/76B | €7,500 | €1,816 | -€5,684 | -75.8% |
| Recurring financial income | 75 | €7,500 | €1,816 | -€5,684 | -75.8% |
| Financial charges | 65/66B | €882 | €30,444 | +€29,562 | +3353.3% |
| Recurring financial charges | 65 | €882 | €30,444 | +€29,562 | +3353.3% |
| Profit (loss) for the period before taxes | 9903 | €51,180 | €38,805 | -€12,375 | -24.2% |
| Income taxes | 67/77 | €24,056 | €11,577 | -€12,479 | -51.9% |
| Profit (loss) for the period | 9904 | €27,124 | €27,228 | +€104 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,124 | €27,228 | +€104 | +0.4% |
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 11 October 2026 via checked.be.