NaCom: 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.
NaCom
Largest movements
- Tangible fixed assets -€569,664
down €569,664 (-52.5%), from €1.1m to €514,915
of which Land and buildings: -€569,126
- Cash +€487,605
up €487,605 (+209.1%), from €233,247 to €720,852
mainly Investment in fixed assets (net) (+€555,974) and Net result for the year (+€206,217)
- Stocks and contracts +€120,000
up €120,000 (+88.4%), from €135,777 to €255,777
- Receivables within one year +€95,148
up €95,148 (+31.9%), from €298,738 to €393,886
of which Other amounts receivable: +€324,484
- Profit (loss) carried forward +€206,217
up €206,217 (+19.7%), from €1.0m to €1.3m
- Other debts -€94,418
down €94,418 (-41.3%), from €228,834 to €134,416
- Tax, wage and social debts +€64,113
up €64,113 (+399.6%), from €16,044 to €80,157
- Debts after one year -€27,327
down €27,327 (-11.9%), from €228,874 to €201,548
of which Financial debts: -€28,377
- Depreciation -€15,307
down €15,307 (-52.8%), from €28,997 to €13,690
- Other operating charges +€14,365
up €14,365 (+328.8%), from €4,370 to €18,735
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 | €1,752,341 | €1,885,431 | +€133,090 | +7.6% |
| Fixed assets | 21/28 | €1,084,579 | €514,915 | -€569,664 | -52.5% |
| Tangible fixed assets | 22/27 | €1,084,579 | €514,915 | -€569,664 | -52.5% |
| Land and buildings | 22 | €1,082,406 | €513,280 | -€569,126 | -52.6% |
| Plant, machinery and equipment | 23 | €2,173 | €1,635 | -€538 | -24.8% |
| Current assets | 29/58 | €667,762 | €1,370,516 | +€702,753 | +105.2% |
| Stocks and contracts in progress | 3 | €135,777 | €255,777 | +€120,000 | +88.4% |
| Stocks | 30/36 | €135,777 | €255,777 | +€120,000 | +88.4% |
| Amounts receivable within one year | 40/41 | €298,738 | €393,886 | +€95,148 | +31.9% |
| Trade receivables | 40 | €296,813 | €67,477 | -€229,336 | -77.3% |
| Other amounts receivable | 41 | €1,925 | €326,410 | +€324,484 | +16854.8% |
| Cash at bank and in hand | 54/58 | €233,247 | €720,852 | +€487,605 | +209.1% |
| Total equity and liabilities | 10/49 | €1,752,341 | €1,885,431 | +€133,090 | +7.6% |
| Equity | 10/15 | €1,227,585 | €1,433,802 | +€206,217 | +16.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €175,651 | €175,651 | = | 0.0% |
| Distributable reserves | 133 | €175,651 | €175,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,045,734 | €1,251,952 | +€206,217 | +19.7% |
| Amounts payable | 17/49 | €524,756 | €451,628 | -€73,128 | -13.9% |
| Amounts payable after more than one year | 17 | €228,874 | €201,548 | -€27,327 | -11.9% |
| Financial debts | 170/4 | €222,144 | €193,767 | -€28,377 | -12.8% |
| Other amounts payable | 178/9 | €6,730 | €7,780 | +€1,050 | +15.6% |
| Amounts payable within one year | 42/48 | €295,882 | €250,081 | -€45,801 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €34,500 | €28,376 | -€6,124 | -17.7% |
| Trade debts | 44 | €16,504 | €7,132 | -€9,372 | -56.8% |
| Suppliers | 440/4 | €16,504 | €7,132 | -€9,372 | -56.8% |
| Taxes, remuneration and social security | 45 | €16,044 | €80,157 | +€64,113 | +399.6% |
| Taxes | 450/3 | €16,044 | €80,157 | +€64,113 | +399.6% |
| Other amounts payable | 47/48 | €228,834 | €134,416 | -€94,418 | -41.3% |
| Non-recurring operating income | 76A | - | €336,027 | +€336,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,997 | €13,690 | -€15,307 | -52.8% |
| Other operating charges | 640/8 | €4,370 | €18,735 | +€14,365 | +328.8% |
| Non-recurring operating charges | 66A | - | €1,255 | +€1,255 | |
| Gross operating margin | 9900 | €324,937 | €324,661 | -€276 | -0.1% |
| Operating profit (loss) | 9901 | €291,571 | €290,981 | -€589 | -0.2% |
| Financial charges | 65/66B | €10,120 | €8,669 | -€1,452 | -14.3% |
| Recurring financial charges | 65 | €10,120 | €8,669 | -€1,452 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €281,450 | €282,312 | +€862 | +0.3% |
| Income taxes | 67/77 | €75,469 | €76,095 | +€626 | +0.8% |
| Profit (loss) for the period | 9904 | €205,981 | €206,217 | +€236 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €205,981 | €206,217 | +€236 | +0.1% |
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 1 October 2026 via checked.be.