NACHTEGAAL: 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.
NACHTEGAAL
Largest movements
- Tangible fixed assets +€37,506
up €37,506 (+16.1%), from €232,851 to €270,357
- Other debts +€32,471
up €32,471 (+10.3%), from €315,851 to €348,322
- Profit (loss) carried forward +€5,035
up €5,035 (+3.1%), from -€161,389 to -€156,354
- Gross operating margin +€17,221
up €17,221, from -€2,947 to €14,274
- Depreciation -€553
down €553 (-6.7%), from €8,216 to €7,663
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 | €232,865 | €270,371 | +€37,506 | +16.1% |
| Fixed assets | 21/28 | €232,851 | €270,357 | +€37,506 | +16.1% |
| Tangible fixed assets | 22/27 | €232,851 | €270,357 | +€37,506 | +16.1% |
| Land and buildings | 22 | €232,851 | €270,357 | +€37,506 | +16.1% |
| Current assets | 29/58 | €14 | €14 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14 | €14 | = | 0.0% |
| Total equity and liabilities | 10/49 | €232,865 | €270,371 | +€37,506 | +16.1% |
| Equity | 10/15 | -€82,986 | -€77,951 | +€5,035 | +6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €16,403 | €16,403 | = | 0.0% |
| Non-distributable reserves | 130/1 | €275 | €275 | = | 0.0% |
| Reserves not available under the articles | 1311 | €275 | €275 | = | 0.0% |
| Distributable reserves | 133 | €16,127 | €16,127 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,389 | -€156,354 | +€5,035 | +3.1% |
| Amounts payable | 17/49 | €315,851 | €348,322 | +€32,471 | +10.3% |
| Amounts payable within one year | 42/48 | €315,851 | €348,322 | +€32,471 | +10.3% |
| Other amounts payable | 47/48 | €315,851 | €348,322 | +€32,471 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,216 | €7,663 | -€553 | -6.7% |
| Other operating charges | 640/8 | €1,529 | €1,576 | +€47 | +3.1% |
| Gross operating margin | 9900 | -€2,947 | €14,274 | +€17,221 | |
| Operating profit (loss) | 9901 | -€12,692 | €5,035 | +€17,727 | |
| Financial charges | 65/66B | €45 | - | -€45 | |
| Recurring financial charges | 65 | €45 | - | -€45 | |
| Profit (loss) for the period before taxes | 9903 | -€12,737 | €5,035 | +€17,772 | |
| Profit (loss) for the period | 9904 | -€12,737 | €5,035 | +€17,772 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,737 | €5,035 | +€17,772 |
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.