NADER: 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.
NADER
Largest movements
- Receivables within one year +€8,130
up €8,130 (+115.0%), from €7,069 to €15,199
of which Trade receivables: +€13,416
- Tangible fixed assets +€7,471
up €7,471 (+51.7%), from €14,459 to €21,929
- Other debts +€16,828
new in 2025: €16,828
- Current portion of long-term debt -€3,134
down €3,134 (-33.3%), from €9,401 to €6,267
- Trade debts +€1,176
new in 2025: €1,176
- Profit (loss) carried forward +€670
up €670 (+24.3%), from -€2,758 to -€2,088
- Turnover -€26,462
no longer reported in 2025 (was €26,462)
- Gross operating margin +€19,632
up €19,632 (+237.5%), from €8,266 to €27,898
- Purchases and services -€18,195
no longer reported in 2025 (was €18,195)
- Staff costs +€17,794
new in 2025: €17,794
- Other operating charges +€2,027
new in 2025: €2,027
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 | €23,323 | €38,864 | +€15,541 | +66.6% |
| Fixed assets | 21/28 | €14,484 | €21,955 | +€7,471 | +51.6% |
| Tangible fixed assets | 22/27 | €14,459 | €21,929 | +€7,471 | +51.7% |
| Furniture and vehicles | 24 | €14,459 | €21,929 | +€7,471 | +51.7% |
| Financial fixed assets | 28 | €26 | €26 | = | 0.0% |
| Current assets | 29/58 | €8,839 | €16,909 | +€8,070 | +91.3% |
| Amounts receivable within one year | 40/41 | €7,069 | €15,199 | +€8,130 | +115.0% |
| Trade receivables | 40 | €950 | €14,366 | +€13,416 | +1412.1% |
| Other amounts receivable | 41 | €6,118 | €833 | -€5,285 | -86.4% |
| Cash at bank and in hand | 54/58 | €1,771 | €1,710 | -€60 | -3.4% |
| Total equity and liabilities | 10/49 | €23,323 | €38,864 | +€15,541 | +66.6% |
| Equity | 10/15 | €3,439 | €4,109 | +€670 | +19.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,758 | -€2,088 | +€670 | +24.3% |
| Amounts payable | 17/49 | €19,884 | €34,755 | +€14,870 | +74.8% |
| Amounts payable after more than one year | 17 | €10,484 | €10,484 | = | 0.0% |
| Financial debts | 170/4 | €10,484 | €10,484 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,401 | €24,271 | +€14,870 | +158.2% |
| Current portion of amounts payable after more than one year | 42 | €9,401 | €6,267 | -€3,134 | -33.3% |
| Trade debts | 44 | - | €1,176 | +€1,176 | |
| Suppliers | 440/4 | - | €1,176 | +€1,176 | |
| Other amounts payable | 47/48 | - | €16,828 | +€16,828 | |
| Turnover | 70 | €26,462 | - | -€26,462 | |
| Goods, raw materials, services and sundry goods | 60/61 | €18,195 | - | -€18,195 | |
| Remuneration, social security and pensions | 62 | - | €17,794 | +€17,794 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,229 | €7,229 | = | 0.0% |
| Other operating charges | 640/8 | - | €2,027 | +€2,027 | |
| Gross operating margin | 9900 | €8,266 | €27,898 | +€19,632 | +237.5% |
| Operating profit (loss) | 9901 | €1,037 | €847 | -€190 | -18.3% |
| Financial charges | 65/66B | €410 | €177 | -€233 | -56.9% |
| Recurring financial charges | 65 | €410 | €177 | -€233 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €627 | €670 | +€44 | +7.0% |
| Profit (loss) for the period | 9904 | €627 | €670 | +€44 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €627 | €670 | +€44 | +7.0% |
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 30 September 2026 via checked.be.