NACHTEGAEL: 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.
NACHTEGAEL
Largest movements
- Tangible fixed assets -€11,223
down €11,223 (-2.0%), from €550,766 to €539,544
- Cash -€7,827
down €7,827 (-25.9%), from €30,249 to €22,422
mainly Other debts (-€23,071) and Debts after one year (-€17,059)
- Other debts -€23,071
down €23,071 (-48.3%), from €47,774 to €24,703
- Reserves +€19,519
up €19,519 (+12.1%), from €160,865 to €180,385
of which Distributable reserves: +€19,519
- Debts after one year -€17,059
down €17,059 (-66.2%), from €25,784 to €8,725
- Gross operating margin +€2,778
up €2,778 (+7.3%), from €38,002 to €40,780
- Financial charges -€1,298
down €1,298 (-30.0%), from €4,321 to €3,024
- Taxes +€1,018
up €1,018 (+18.5%), from €5,489 to €6,506
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 | €582,548 | €563,499 | -€19,050 | -3.3% |
| Fixed assets | 21/28 | €550,766 | €539,544 | -€11,223 | -2.0% |
| Tangible fixed assets | 22/27 | €550,766 | €539,544 | -€11,223 | -2.0% |
| Land and buildings | 22 | €550,766 | €539,544 | -€11,223 | -2.0% |
| Current assets | 29/58 | €31,782 | €23,955 | -€7,827 | -24.6% |
| Amounts receivable within one year | 40/41 | €1,533 | €1,533 | = | 0.0% |
| Trade receivables | 40 | €1,533 | €1,533 | = | 0.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €30,249 | €22,422 | -€7,827 | -25.9% |
| Total equity and liabilities | 10/49 | €582,548 | €563,499 | -€19,050 | -3.3% |
| Equity | 10/15 | €491,865 | €511,385 | +€19,519 | +4.0% |
| Contributions | 10/11 | €331,000 | €331,000 | = | 0.0% |
| Capital | 10 | €331,000 | €331,000 | = | 0.0% |
| Issued capital | 100 | €331,000 | €331,000 | = | 0.0% |
| Reserves | 13 | €160,865 | €180,385 | +€19,519 | +12.1% |
| Non-distributable reserves | 130/1 | €37,537 | €37,537 | = | 0.0% |
| Legal reserve | 130 | €37,537 | €37,537 | = | 0.0% |
| Distributable reserves | 133 | €123,328 | €142,848 | +€19,519 | +15.8% |
| Amounts payable | 17/49 | €90,683 | €52,114 | -€38,569 | -42.5% |
| Amounts payable after more than one year | 17 | €25,784 | €8,725 | -€17,059 | -66.2% |
| Financial debts | 170/4 | €25,784 | €8,725 | -€17,059 | -66.2% |
| Amounts payable within one year | 42/48 | €64,814 | €43,269 | -€21,545 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €16,550 | €17,059 | +€509 | +3.1% |
| Taxes, remuneration and social security | 45 | €489 | €1,506 | +€1,018 | +208% |
| Taxes | 450/3 | €489 | €1,506 | +€1,018 | +208% |
| Other amounts payable | 47/48 | €47,774 | €24,703 | -€23,071 | -48.3% |
| Accrued charges and deferred income | 492/3 | €85 | €120 | +€35 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,223 | €11,223 | +€0 | 0.0% |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | €38,002 | €40,780 | +€2,778 | +7.3% |
| Operating profit (loss) | 9901 | €26,277 | €29,050 | +€2,773 | +10.6% |
| Financial charges | 65/66B | €4,321 | €3,024 | -€1,298 | -30.0% |
| Recurring financial charges | 65 | €4,321 | €3,024 | -€1,298 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €21,955 | €26,026 | +€4,071 | +18.5% |
| Income taxes | 67/77 | €5,489 | €6,506 | +€1,018 | +18.5% |
| Profit (loss) for the period | 9904 | €16,466 | €19,519 | +€3,053 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,466 | €19,519 | +€3,053 | +18.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.