NaDe Invest: 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.
NaDe Invest
Largest movements
- Tangible fixed assets +€305,762
up €305,762 (+14,670%), from €2,084 to €307,846
of which Land and buildings: +€306,849
- Cash -€37,954
down €37,954 (-43.8%), from €86,688 to €48,734
mainly Investment in fixed assets (net) (-€344,613) and Tax, wage and social debts (-€5,119)
- Debts after one year +€237,857
new in 2025: €237,857
- Profit (loss) carried forward +€28,304
up €28,304 (+46.5%), from €60,858 to €89,162
- Current portion of long-term debt +€8,143
new in 2025: €8,143
- Tax, wage and social debts -€5,119
down €5,119 (-21.7%), from €23,549 to €18,430
of which Taxes: -€5,295
- Depreciation +€37,672
up €37,672 (+3,197%), from €1,178 to €38,851
- Taxes -€9,899
down €9,899 (-57.0%), from €17,355 to €7,457
- Gross operating margin -€4,753
down €4,753 (-5.9%), from €80,952 to €76,200
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 | €88,839 | €356,661 | +€267,822 | +301% |
| Fixed assets | 21/28 | €2,134 | €307,896 | +€305,762 | +14,326% |
| Tangible fixed assets | 22/27 | €2,084 | €307,846 | +€305,762 | +14,670% |
| Land and buildings | 22 | - | €306,849 | +€306,849 | |
| Furniture and vehicles | 24 | €2,084 | €997 | -€1,087 | -52.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €86,705 | €48,765 | -€37,939 | -43.8% |
| Amounts receivable within one year | 40/41 | €17 | €31 | +€14 | +85.8% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €17 | €31 | +€14 | +85.8% |
| Cash at bank and in hand | 54/58 | €86,688 | €48,734 | -€37,954 | -43.8% |
| Total equity and liabilities | 10/49 | €88,839 | €356,661 | +€267,822 | +301% |
| Equity | 10/15 | €62,858 | €91,162 | +€28,304 | +45.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,858 | €89,162 | +€28,304 | +46.5% |
| Amounts payable | 17/49 | €25,981 | €265,499 | +€239,518 | +922% |
| Amounts payable after more than one year | 17 | - | €237,857 | +€237,857 | |
| Financial debts | 170/4 | - | €237,857 | +€237,857 | |
| Amounts payable within one year | 42/48 | €25,981 | €27,641 | +€1,660 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,143 | +€8,143 | |
| Trade debts | 44 | €2,223 | €420 | -€1,803 | -81.1% |
| Suppliers | 440/4 | €2,223 | €420 | -€1,803 | -81.1% |
| Taxes, remuneration and social security | 45 | €23,549 | €18,430 | -€5,119 | -21.7% |
| Taxes | 450/3 | €23,549 | €18,254 | -€5,295 | -22.5% |
| Remuneration and social security | 454/9 | - | €176 | +€176 | |
| Other amounts payable | 47/48 | €209 | €649 | +€440 | +210% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,178 | €38,851 | +€37,672 | +3,197% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | €80,952 | €76,200 | -€4,753 | -5.9% |
| Operating profit (loss) | 9901 | €79,774 | €37,287 | -€42,487 | -53.3% |
| Financial charges | 65/66B | €1,561 | €1,526 | -€35 | -2.2% |
| Recurring financial charges | 65 | €1,561 | €1,526 | -€35 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €78,213 | €35,761 | -€42,452 | -54.3% |
| Income taxes | 67/77 | €17,355 | €7,457 | -€9,899 | -57.0% |
| Profit (loss) for the period | 9904 | €60,858 | €28,304 | -€32,554 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,858 | €28,304 | -€32,554 | -53.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.