NADA: 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.
NADA
Largest movements
- Receivables within one year -€53,749
down €53,749 (-36.5%), from €147,222 to €93,473
of which Trade receivables: -€44,968
- Cash -€50,878
down €50,878 (-22.8%), from €222,882 to €172,003
mainly Net result for the year (-€58,627) and Tax, wage and social debts (-€45,160)
- Profit (loss) carried forward -€58,627
down €58,627 (-40.1%), from €146,024 to €87,397
- Tax, wage and social debts -€45,160
down €45,160 (-52.8%), from €85,488 to €40,328
of which Remuneration and social security: -€46,150
- Gross operating margin +€70,397
up €70,397 (+26.6%), from €264,670 to €335,068
- Staff costs -€24,796
down €24,796 (-5.9%), from €417,467 to €392,671
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 | €391,872 | €286,823 | -€105,049 | -26.8% |
| Fixed assets | 21/28 | €18,508 | €18,087 | -€421 | -2.3% |
| Tangible fixed assets | 22/27 | €1,258 | €837 | -€421 | -33.5% |
| Furniture and vehicles | 24 | €1,258 | €837 | -€421 | -33.5% |
| Financial fixed assets | 28 | €17,250 | €17,250 | = | 0.0% |
| Current assets | 29/58 | €373,364 | €268,736 | -€104,628 | -28.0% |
| Amounts receivable within one year | 40/41 | €147,222 | €93,473 | -€53,749 | -36.5% |
| Trade receivables | 40 | €102,820 | €57,852 | -€44,968 | -43.7% |
| Other amounts receivable | 41 | €44,402 | €35,621 | -€8,781 | -19.8% |
| Current investments | 50/53 | €260 | €260 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €222,882 | €172,003 | -€50,878 | -22.8% |
| Deferred charges and accrued income | 490/1 | €3,000 | €3,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €391,872 | €286,823 | -€105,049 | -26.8% |
| Equity | 10/15 | €304,886 | €246,260 | -€58,627 | -19.2% |
| Contributions | 10/11 | €158,863 | €158,863 | = | 0.0% |
| Capital | 10 | €158,863 | €158,863 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,024 | €87,397 | -€58,627 | -40.1% |
| Amounts payable | 17/49 | €86,985 | €40,563 | -€46,422 | -53.4% |
| Amounts payable within one year | 42/48 | €86,985 | €40,563 | -€46,422 | -53.4% |
| Trade debts | 44 | €1,498 | €235 | -€1,263 | -84.3% |
| Suppliers | 440/4 | €1,498 | €235 | -€1,263 | -84.3% |
| Taxes, remuneration and social security | 45 | €85,488 | €40,328 | -€45,160 | -52.8% |
| Taxes | 450/3 | €10,670 | €11,660 | +€990 | +9.3% |
| Remuneration and social security | 454/9 | €74,817 | €28,668 | -€46,150 | -61.7% |
| Remuneration, social security and pensions | 62 | €417,467 | €392,671 | -€24,796 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,276 | €421 | -€1,855 | -81.5% |
| Other operating charges | 640/8 | €1,166 | €1,713 | +€547 | +47.0% |
| Gross operating margin | 9900 | €264,670 | €335,068 | +€70,397 | +26.6% |
| Operating profit (loss) | 9901 | -€156,238 | -€59,737 | +€96,501 | +61.8% |
| Financial income | 75/76B | €916 | €1,318 | +€402 | +43.8% |
| Recurring financial income | 75 | €916 | €1,318 | +€402 | +43.8% |
| Financial charges | 65/66B | €635 | €207 | -€428 | -67.3% |
| Recurring financial charges | 65 | €635 | €207 | -€428 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | -€155,956 | -€58,627 | +€97,330 | +62.4% |
| Profit (loss) for the period | 9904 | -€155,956 | -€58,627 | +€97,330 | +62.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€155,956 | -€58,627 | +€97,330 | +62.4% |
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 7 October 2026 via checked.be.