NADEO: 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.
NADEO
Largest movements
- Cash +€14,888
up €14,888 (+104.6%), from €14,229 to €29,116
mainly Net result for the year (+€29,541) and Depreciation (+€3,874)
- Deferred charges and accrued income +€9,029
up €9,029 (+1344.8%), from €671 to €9,701
- Receivables within one year +€771
up €771 (+4.2%), from €18,450 to €19,221
of which Trade receivables: +€771
- Profit (loss) carried forward +€29,334
up €29,334 (+130.7%), from €22,443 to €51,777
- Tax, wage and social debts -€2,790
down €2,790 (-28.9%), from €9,653 to €6,863
of which Taxes: -€2,960
- Other debts -€2,335
down €2,335 (-22.2%), from €10,541 to €8,205
- Gross operating margin +€11,378
up €11,378 (+36.2%), from €31,442 to €42,820
- Depreciation +€2,351
up €2,351 (+154.4%), from €1,523 to €3,874
- Taxes +€1,606
up €1,606 (+24.3%), from €6,614 to €8,220
- Financial charges +€1,183
up €1,183 (+40358.7%), from €3 to €1,185
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 | €43,591 | €68,722 | +€25,131 | +57.7% |
| Fixed assets | 21/28 | €10,241 | €10,684 | +€444 | +4.3% |
| Tangible fixed assets | 22/27 | €10,241 | €10,684 | +€444 | +4.3% |
| Furniture and vehicles | 24 | €10,241 | €10,684 | +€444 | +4.3% |
| Current assets | 29/58 | €33,350 | €58,038 | +€24,688 | +74.0% |
| Amounts receivable within one year | 40/41 | €18,450 | €19,221 | +€771 | +4.2% |
| Trade receivables | 40 | €18,368 | €19,138 | +€771 | +4.2% |
| Other amounts receivable | 41 | €82 | €82 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,229 | €29,116 | +€14,888 | +104.6% |
| Deferred charges and accrued income | 490/1 | €671 | €9,701 | +€9,029 | +1344.8% |
| Total equity and liabilities | 10/49 | €43,591 | €68,722 | +€25,131 | +57.7% |
| Equity | 10/15 | €22,943 | €52,277 | +€29,334 | +127.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,443 | €51,777 | +€29,334 | +130.7% |
| Amounts payable | 17/49 | €20,648 | €16,445 | -€4,202 | -20.4% |
| Amounts payable within one year | 42/48 | €20,648 | €15,819 | -€4,828 | -23.4% |
| Trade debts | 44 | €454 | €751 | +€297 | +65.3% |
| Suppliers | 440/4 | €454 | €751 | +€297 | +65.3% |
| Taxes, remuneration and social security | 45 | €9,653 | €6,863 | -€2,790 | -28.9% |
| Taxes | 450/3 | €8,042 | €5,082 | -€2,960 | -36.8% |
| Remuneration and social security | 454/9 | €1,611 | €1,781 | +€170 | +10.6% |
| Other amounts payable | 47/48 | €10,541 | €8,205 | -€2,335 | -22.2% |
| Accrued charges and deferred income | 492/3 | - | €626 | +€626 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,523 | €3,874 | +€2,351 | +154.4% |
| Gross operating margin | 9900 | €31,442 | €42,820 | +€11,378 | +36.2% |
| Operating profit (loss) | 9901 | €29,919 | €38,946 | +€9,027 | +30.2% |
| Financial charges | 65/66B | €3 | €1,185 | +€1,183 | +40358.7% |
| Recurring financial charges | 65 | €3 | €1,185 | +€1,183 | +40358.7% |
| Profit (loss) for the period before taxes | 9903 | €29,916 | €37,761 | +€7,845 | +26.2% |
| Income taxes | 67/77 | €6,614 | €8,220 | +€1,606 | +24.3% |
| Profit (loss) for the period | 9904 | €23,302 | €29,541 | +€6,239 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,302 | €29,541 | +€6,239 | +26.8% |
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 5 October 2026 via checked.be.