NADECE: 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.
NADECE
Largest movements
- Tangible fixed assets -€16,053
down €16,053 (-7.3%), from €219,494 to €203,440
of which Land and buildings: -€16,442
- Receivables within one year +€15,981
up €15,981 (+25.8%), from €62,016 to €77,997
of which Trade receivables: +€15,181
- Cash -€12,266
down €12,266 (-20.8%), from €58,842 to €46,576
mainly Contributions, distributions and other (-€29,943) and Debts after one year (-€29,819)
- Receivables after one year -€5,951
down €5,951 (-100.0%), from €5,951 to €0
- Debts after one year -€29,819
down €29,819 (-46.5%), from €64,112 to €34,294
- Reserves +€25,364
up €25,364 (+11.9%), from €213,918 to €239,282
of which Distributable reserves: +€25,364
- Tax, wage and social debts -€17,936
down €17,936 (-66.3%), from €27,034 to €9,098
- Gross operating margin -€3,911
down €3,911 (-3.6%), from €108,594 to €104,683
- Depreciation -€2,062
down €2,062 (-10.3%), from €19,983 to €17,921
- Financial charges -€1,690
down €1,690 (-26.4%), from €6,413 to €4,722
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 | €348,713 | €329,363 | -€19,350 | -5.5% |
| Fixed assets | 21/28 | €220,844 | €204,790 | -€16,053 | -7.3% |
| Tangible fixed assets | 22/27 | €219,494 | €203,440 | -€16,053 | -7.3% |
| Land and buildings | 22 | €217,009 | €200,567 | -€16,442 | -7.6% |
| Plant, machinery and equipment | 23 | €1,196 | €2,414 | +€1,218 | +101.8% |
| Furniture and vehicles | 24 | €1,288 | €459 | -€829 | -64.4% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €127,869 | €124,573 | -€3,296 | -2.6% |
| Amounts receivable after more than one year | 29 | €5,951 | €0 | -€5,951 | -100.0% |
| Trade receivables | 290 | €5,951 | €0 | -€5,951 | -100.0% |
| Amounts receivable within one year | 40/41 | €62,016 | €77,997 | +€15,981 | +25.8% |
| Trade receivables | 40 | €51,772 | €66,953 | +€15,181 | +29.3% |
| Other amounts receivable | 41 | €10,244 | €11,044 | +€800 | +7.8% |
| Cash at bank and in hand | 54/58 | €58,842 | €46,576 | -€12,266 | -20.8% |
| Deferred charges and accrued income | 490/1 | €1,060 | €0 | -€1,060 | -100.0% |
| Total equity and liabilities | 10/49 | €348,713 | €329,363 | -€19,350 | -5.5% |
| Equity | 10/15 | €226,318 | €251,682 | +€25,364 | +11.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €213,918 | €239,282 | +€25,364 | +11.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €212,058 | €237,422 | +€25,364 | +12.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €122,395 | €77,681 | -€44,714 | -36.5% |
| Amounts payable after more than one year | 17 | €64,112 | €34,294 | -€29,819 | -46.5% |
| Financial debts | 170/4 | €64,112 | €34,294 | -€29,819 | -46.5% |
| Amounts payable within one year | 42/48 | €57,406 | €43,387 | -€14,019 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €28,335 | €29,819 | +€1,484 | +5.2% |
| Trade debts | 44 | €2,037 | €2,191 | +€153 | +7.5% |
| Suppliers | 440/4 | €2,037 | €2,191 | +€153 | +7.5% |
| Taxes, remuneration and social security | 45 | €27,034 | €9,098 | -€17,936 | -66.3% |
| Taxes | 450/3 | €27,034 | €9,098 | -€17,936 | -66.3% |
| Other amounts payable | 47/48 | €0 | €2,280 | +€2,280 | |
| Accrued charges and deferred income | 492/3 | €876 | €0 | -€876 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,983 | €17,921 | -€2,062 | -10.3% |
| Other operating charges | 640/8 | €3,015 | €3,684 | +€669 | +22.2% |
| Gross operating margin | 9900 | €108,594 | €104,683 | -€3,911 | -3.6% |
| Operating profit (loss) | 9901 | €85,595 | €83,078 | -€2,517 | -2.9% |
| Financial income | 75/76B | €594 | €1,426 | +€832 | +140.2% |
| Recurring financial income | 75 | €594 | €1,426 | +€832 | +140.2% |
| Financial charges | 65/66B | €6,413 | €4,722 | -€1,690 | -26.4% |
| Recurring financial charges | 65 | €6,413 | €4,722 | -€1,690 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €79,776 | €79,782 | +€5 | 0.0% |
| Income taxes | 67/77 | €24,531 | €24,475 | -€57 | -0.2% |
| Profit (loss) for the period | 9904 | €55,245 | €55,307 | +€62 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,245 | €55,307 | +€62 | +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 8 October 2026 via checked.be.