NADEST: 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.
NADEST
Largest movements
- Tangible fixed assets -€13,064
down €13,064 (-1.9%), from €691,960 to €678,896
- Other debts -€10,078
down €10,078 (-10.3%), from €97,868 to €87,790
- Gross operating margin -€1,680
down €1,680 (-7.3%), from €22,939 to €21,259
- Other operating charges -€519
down €519 (-7.8%), from €6,641 to €6,123
- Depreciation +€459
up €459 (+3.6%), from €12,605 to €13,064
- Taxes -€318
down €318 (-33.6%), from €946 to €628
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 | €778,572 | €765,385 | -€13,188 | -1.7% |
| Fixed assets | 21/28 | €691,960 | €678,896 | -€13,064 | -1.9% |
| Tangible fixed assets | 22/27 | €691,960 | €678,896 | -€13,064 | -1.9% |
| Land and buildings | 22 | €691,960 | €678,896 | -€13,064 | -1.9% |
| Current assets | 29/58 | €86,612 | €86,489 | -€123 | -0.1% |
| Amounts receivable within one year | 40/41 | €1,322 | €2,561 | +€1,239 | +93.7% |
| Other amounts receivable | 41 | €1,322 | €2,561 | +€1,239 | +93.7% |
| Cash at bank and in hand | 54/58 | €84,517 | €83,058 | -€1,458 | -1.7% |
| Deferred charges and accrued income | 490/1 | €774 | €870 | +€96 | +12.4% |
| Total equity and liabilities | 10/49 | €778,572 | €765,385 | -€13,188 | -1.7% |
| Equity | 10/15 | €676,115 | €677,460 | +€1,345 | +0.2% |
| Contributions | 10/11 | €638,800 | €638,800 | = | 0.0% |
| Reserves | 13 | €37,315 | €38,660 | +€1,345 | +3.6% |
| Distributable reserves | 133 | €37,315 | €38,660 | +€1,345 | +3.6% |
| Amounts payable | 17/49 | €102,458 | €87,925 | -€14,533 | -14.2% |
| Amounts payable within one year | 42/48 | €100,058 | €87,925 | -€12,133 | -12.1% |
| Taxes, remuneration and social security | 45 | €2,190 | €135 | -€2,055 | -93.9% |
| Taxes | 450/3 | €2,190 | €135 | -€2,055 | -93.9% |
| Other amounts payable | 47/48 | €97,868 | €87,790 | -€10,078 | -10.3% |
| Accrued charges and deferred income | 492/3 | €2,400 | - | -€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,605 | €13,064 | +€459 | +3.6% |
| Other operating charges | 640/8 | €6,641 | €6,123 | -€519 | -7.8% |
| Gross operating margin | 9900 | €22,939 | €21,259 | -€1,680 | -7.3% |
| Operating profit (loss) | 9901 | €3,693 | €2,072 | -€1,621 | -43.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €72 | €99 | +€27 | +37.6% |
| Recurring financial charges | 65 | €72 | €99 | +€27 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €3,622 | €1,973 | -€1,648 | -45.5% |
| Income taxes | 67/77 | €946 | €628 | -€318 | -33.6% |
| Profit (loss) for the period | 9904 | €2,676 | €1,345 | -€1,330 | -49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,676 | €1,345 | -€1,330 | -49.7% |
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.