NADAN: 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.
NADAN
Largest movements
- Tangible fixed assets -€830,952
down €830,952 (-15.8%), from €5.3m to €4.4m
of which Land and buildings: -€747,204
- Stocks and contracts +€800,237
new in 2025: €800,237
- Receivables within one year +€351,104
up €351,104 (+1500.6%), from €23,398 to €374,502
of which Trade receivables: +€201,340
- Other debts +€400,000
up €400,000 (+2003.5%), from €19,965 to €419,965
- Debts after one year -€351,694
down €351,694 (-15.0%), from €2.3m to €2.0m
- Trade debts +€325,581
up €325,581 (+1168.5%), from €27,864 to €353,446
- Taxes -€128,294
down €128,294, from €128,292 to -€2
- Depreciation -€42,814
down €42,814 (-25.3%), from €169,551 to €126,737
- Gross operating margin +€23,691
up €23,691 (+2.8%), from €853,577 to €877,268
- Financial charges -€13,552
down €13,552 (-11.8%), from €115,169 to €101,616
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 | €5,641,405 | €5,995,822 | +€354,417 | +6.3% |
| Fixed assets | 21/28 | €5,273,229 | €4,442,277 | -€830,952 | -15.8% |
| Tangible fixed assets | 22/27 | €5,273,229 | €4,442,277 | -€830,952 | -15.8% |
| Land and buildings | 22 | €5,189,482 | €4,442,277 | -€747,204 | -14.4% |
| Assets under construction and advance payments | 27 | €83,748 | - | -€83,748 | |
| Current assets | 29/58 | €368,176 | €1,553,545 | +€1.2m | +322.0% |
| Stocks and contracts in progress | 3 | - | €800,237 | +€800,237 | |
| Stocks | 30/36 | - | €800,237 | +€800,237 | |
| Amounts receivable within one year | 40/41 | €23,398 | €374,502 | +€351,104 | +1500.6% |
| Trade receivables | 40 | €8,660 | €210,000 | +€201,340 | +2325.0% |
| Other amounts receivable | 41 | €14,738 | €164,502 | +€149,764 | +1016.2% |
| Cash at bank and in hand | 54/58 | €344,432 | €378,185 | +€33,754 | +9.8% |
| Deferred charges and accrued income | 490/1 | €346 | €621 | +€275 | +79.3% |
| Total equity and liabilities | 10/49 | €5,641,405 | €5,995,822 | +€354,417 | +6.3% |
| Equity | 10/15 | €2,825,000 | €2,794,428 | -€30,572 | -1.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €67,801 | €67,801 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €42,801 | €42,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,507,199 | €2,476,627 | -€30,572 | -1.2% |
| Amounts payable | 17/49 | €2,816,405 | €3,201,395 | +€384,989 | +13.7% |
| Amounts payable after more than one year | 17 | €2,337,424 | €1,985,731 | -€351,694 | -15.0% |
| Financial debts | 170/4 | €2,337,424 | €1,985,731 | -€351,694 | -15.0% |
| Amounts payable within one year | 42/48 | €408,431 | €1,143,402 | +€734,971 | +180.0% |
| Current portion of amounts payable after more than one year | 42 | €337,910 | €351,694 | +€13,784 | +4.1% |
| Trade debts | 44 | €27,864 | €353,446 | +€325,581 | +1168.5% |
| Suppliers | 440/4 | €27,864 | €353,446 | +€325,581 | +1168.5% |
| Taxes, remuneration and social security | 45 | €22,692 | €18,298 | -€4,394 | -19.4% |
| Taxes | 450/3 | €22,692 | €18,298 | -€4,394 | -19.4% |
| Other amounts payable | 47/48 | €19,965 | €419,965 | +€400,000 | +2003.5% |
| Accrued charges and deferred income | 492/3 | €70,550 | €72,262 | +€1,712 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,551 | €126,737 | -€42,814 | -25.3% |
| Other operating charges | 640/8 | €57,802 | €59,082 | +€1,280 | +2.2% |
| Non-recurring operating charges | 66A | - | €620,468 | +€620,468 | |
| Gross operating margin | 9900 | €853,577 | €877,268 | +€23,691 | +2.8% |
| Operating profit (loss) | 9901 | €626,224 | €70,981 | -€555,243 | -88.7% |
| Financial income | 75/76B | €129 | €61 | -€68 | -52.7% |
| Recurring financial income | 75 | €129 | €61 | -€68 | -52.7% |
| Financial charges | 65/66B | €115,169 | €101,616 | -€13,552 | -11.8% |
| Recurring financial charges | 65 | €115,169 | €101,616 | -€13,552 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €511,184 | -€30,574 | -€541,759 | |
| Income taxes | 67/77 | €128,292 | -€2 | -€128,294 | |
| Profit (loss) for the period | 9904 | €382,893 | -€30,572 | -€413,465 | |
| Profit (loss) for the period to be appropriated | 9905 | €382,893 | -€30,572 | -€413,465 |
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.