NAdAlAu: 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.
NAdAlAu
Largest movements
- Receivables within one year -€36,397
down €36,397 (-66.5%), from €54,757 to €18,361
of which Trade receivables: -€21,833
- Cash -€20,526
down €20,526 (-26.0%), from €78,822 to €58,297
mainly Investment in fixed assets (net) (-€36,485) and Net result for the year (-€35,022)
- Tangible fixed assets +€13,425
up €13,425 (+4.2%), from €320,030 to €333,456
of which Furniture and vehicles: +€24,221
- Deferred charges and accrued income +€10,877
up €10,877 (+672.0%), from €1,619 to €12,496
- Profit (loss) carried forward -€35,022
new in 2025: -€35,022
- Trade debts +€17,869
up €17,869 (+224.4%), from €7,962 to €25,831
- Accrued charges and deferred income -€13,243
down €13,243 (-98.1%), from €13,503 to €259
- Current portion of long-term debt +€11,756
up €11,756 (+93.4%), from €12,584 to €24,340
- Reserves -€10,000
down €10,000 (-7.4%), from €134,495 to €124,495
- Gross operating margin -€50,507
down €50,507, from €50,112 to -€396
- Depreciation +€9,842
up €9,842 (+74.5%), from €13,217 to €23,059
- Other operating charges -€7,127
down €7,127 (-75.4%), from €9,455 to €2,328
- Taxes -€5,215
down €5,215 (-95.4%), from €5,464 to €250
- Financial charges +€2,100
up €2,100 (+30.5%), from €6,889 to €8,989
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 | €455,229 | €422,609 | -€32,620 | -7.2% |
| Fixed assets | 21/28 | €320,030 | €333,456 | +€13,425 | +4.2% |
| Tangible fixed assets | 22/27 | €320,030 | €333,456 | +€13,425 | +4.2% |
| Land and buildings | 22 | €312,967 | €303,355 | -€9,611 | -3.1% |
| Plant, machinery and equipment | 23 | €1,815 | €2,382 | +€567 | +31.3% |
| Furniture and vehicles | 24 | €1,059 | €25,280 | +€24,221 | +2288.2% |
| Other tangible fixed assets | 26 | €4,190 | €2,438 | -€1,752 | -41.8% |
| Current assets | 29/58 | €135,198 | €89,153 | -€46,045 | -34.1% |
| Amounts receivable within one year | 40/41 | €54,757 | €18,361 | -€36,397 | -66.5% |
| Trade receivables | 40 | €33,658 | €11,825 | -€21,833 | -64.9% |
| Other amounts receivable | 41 | €21,099 | €6,536 | -€14,563 | -69.0% |
| Cash at bank and in hand | 54/58 | €78,822 | €58,297 | -€20,526 | -26.0% |
| Deferred charges and accrued income | 490/1 | €1,619 | €12,496 | +€10,877 | +672.0% |
| Total equity and liabilities | 10/49 | €455,229 | €422,609 | -€32,620 | -7.2% |
| Equity | 10/15 | €138,995 | €93,973 | -€45,022 | -32.4% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €134,495 | €124,495 | -€10,000 | -7.4% |
| Distributable reserves | 133 | €134,495 | €124,495 | -€10,000 | -7.4% |
| Profit (loss) carried forward | 14 | - | -€35,022 | -€35,022 | |
| Amounts payable | 17/49 | €316,234 | €328,636 | +€12,402 | +3.9% |
| Amounts payable after more than one year | 17 | €261,115 | €261,132 | +€16 | 0.0% |
| Financial debts | 170/4 | €261,115 | €261,132 | +€16 | 0.0% |
| Amounts payable within one year | 42/48 | €41,616 | €67,246 | +€25,629 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €12,584 | €24,340 | +€11,756 | +93.4% |
| Financial debts | 43 | €4,052 | €4,067 | +€15 | +0.4% |
| Credit institutions | 430/8 | €4,052 | €4,067 | +€15 | +0.4% |
| Trade debts | 44 | €7,962 | €25,831 | +€17,869 | +224.4% |
| Suppliers | 440/4 | €7,962 | €25,831 | +€17,869 | +224.4% |
| Taxes, remuneration and social security | 45 | €12,177 | €11,036 | -€1,141 | -9.4% |
| Taxes | 450/3 | €12,177 | €11,036 | -€1,141 | -9.4% |
| Other amounts payable | 47/48 | €4,842 | €1,972 | -€2,870 | -59.3% |
| Accrued charges and deferred income | 492/3 | €13,503 | €259 | -€13,243 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,217 | €23,059 | +€9,842 | +74.5% |
| Other operating charges | 640/8 | €9,455 | €2,328 | -€7,127 | -75.4% |
| Gross operating margin | 9900 | €50,112 | -€396 | -€50,507 | |
| Operating profit (loss) | 9901 | €27,439 | -€25,783 | -€53,222 | |
| Financial income | 75/76B | €16 | €0 | -€16 | -100.0% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -100.0% |
| Financial charges | 65/66B | €6,889 | €8,989 | +€2,100 | +30.5% |
| Recurring financial charges | 65 | €6,889 | €8,989 | +€2,100 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €20,566 | -€34,772 | -€55,338 | |
| Income taxes | 67/77 | €5,464 | €250 | -€5,215 | -95.4% |
| Profit (loss) for the period | 9904 | €15,101 | -€35,022 | -€50,123 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,101 | -€35,022 | -€50,123 |
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 6 October 2026 via checked.be.