NADIMO: 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.
NADIMO
Largest movements
- Tangible fixed assets -€233,560
down €233,560 (-19.4%), from €1.2m to €973,008
of which Land and buildings: -€135,646
- Receivables within one year +€47,592
up €47,592 (+44.4%), from €107,275 to €154,867
of which Other amounts receivable: +€40,047
- Debts after one year -€82,266
down €82,266 (-23.2%), from €354,856 to €272,590
of which Financial debts: -€82,266
- Reserves -€44,548
down €44,548 (-58.9%), from €75,588 to €31,039
of which Tax-exempt reserves: -€44,548
- Current portion of long-term debt -€35,775
down €35,775 (-29.5%), from €121,201 to €85,426
- Provisions -€22,939
no longer reported in 2025 (was €22,939)
- Tax, wage and social debts +€19,421
up €19,421 (+803.2%), from €2,418 to €21,839
- Depreciation -€25,588
down €25,588 (-24.8%), from €103,233 to €77,645
- Taxes +€23,523
up €23,523 (+385.4%), from €6,104 to €29,627
- Write-downs +€4,817
new in 2025: €4,817
- Gross operating margin -€4,442
down €4,442 (-3.0%), from €147,422 to €142,979
- Financial charges -€3,255
down €3,255 (-27.9%), from €11,678 to €8,422
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 | €1,375,111 | €1,193,476 | -€181,635 | -13.2% |
| Fixed assets | 21/28 | €1,206,568 | €973,008 | -€233,560 | -19.4% |
| Tangible fixed assets | 22/27 | €1,206,568 | €973,008 | -€233,560 | -19.4% |
| Land and buildings | 22 | €1,060,287 | €924,641 | -€135,646 | -12.8% |
| Plant, machinery and equipment | 23 | €146,281 | €48,367 | -€97,914 | -66.9% |
| Current assets | 29/58 | €168,543 | €220,468 | +€51,925 | +30.8% |
| Amounts receivable within one year | 40/41 | €107,275 | €154,867 | +€47,592 | +44.4% |
| Trade receivables | 40 | €51,055 | €58,599 | +€7,544 | +14.8% |
| Other amounts receivable | 41 | €56,221 | €96,268 | +€40,047 | +71.2% |
| Cash at bank and in hand | 54/58 | €58,083 | €64,074 | +€5,991 | +10.3% |
| Deferred charges and accrued income | 490/1 | €3,186 | €1,527 | -€1,658 | -52.0% |
| Total equity and liabilities | 10/49 | €1,375,111 | €1,193,476 | -€181,635 | -13.2% |
| Equity | 10/15 | €796,876 | €735,358 | -€61,518 | -7.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €75,588 | €31,039 | -€44,548 | -58.9% |
| Non-distributable reserves | 130/1 | €31,039 | €31,039 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,039 | €31,039 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,548 | - | -€44,548 | |
| Profit (loss) carried forward | 14 | €658,789 | €641,818 | -€16,970 | -2.6% |
| Provisions and deferred taxes | 16 | €22,939 | - | -€22,939 | |
| Deferred taxes | 168 | €22,939 | - | -€22,939 | |
| Amounts payable | 17/49 | €555,296 | €458,119 | -€97,178 | -17.5% |
| Amounts payable after more than one year | 17 | €354,856 | €272,590 | -€82,266 | -23.2% |
| Financial debts | 170/4 | €299,856 | €217,590 | -€82,266 | -27.4% |
| Other amounts payable | 178/9 | €55,000 | €55,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €198,383 | €181,049 | -€17,334 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €121,201 | €85,426 | -€35,775 | -29.5% |
| Trade debts | 44 | €3,582 | €2,074 | -€1,508 | -42.1% |
| Suppliers | 440/4 | €3,582 | €2,074 | -€1,508 | -42.1% |
| Advances received on contracts in progress | 46 | €33,000 | €33,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,418 | €21,839 | +€19,421 | +803.2% |
| Taxes | 450/3 | €2,418 | €21,839 | +€19,421 | +803.2% |
| Other amounts payable | 47/48 | €38,182 | €38,710 | +€528 | +1.4% |
| Accrued charges and deferred income | 492/3 | €2,057 | €4,479 | +€2,422 | +117.7% |
| Non-recurring operating income | 76A | €6,450 | €2,100 | -€4,349 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,233 | €77,645 | -€25,588 | -24.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,817 | +€4,817 | |
| Other operating charges | 640/8 | €3,253 | €3,836 | +€583 | +17.9% |
| Non-recurring operating charges | 66A | - | €24,612 | +€24,612 | |
| Gross operating margin | 9900 | €147,422 | €142,979 | -€4,442 | -3.0% |
| Operating profit (loss) | 9901 | €40,936 | €32,070 | -€8,866 | -21.7% |
| Financial income | 75/76B | €195 | €94 | -€102 | -52.0% |
| Recurring financial income | 75 | €195 | €94 | -€102 | -52.0% |
| Financial charges | 65/66B | €11,678 | €8,422 | -€3,255 | -27.9% |
| Recurring financial charges | 65 | €11,678 | €8,422 | -€3,255 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €29,453 | €23,741 | -€5,712 | -19.4% |
| Transfer from deferred taxes | 780 | €1,069 | €22,939 | +€21,870 | +2046.6% |
| Income taxes | 67/77 | €6,104 | €29,627 | +€23,523 | +385.4% |
| Profit (loss) for the period | 9904 | €24,418 | €17,053 | -€7,365 | -30.2% |
| Transfer from tax-exempt reserves | 789 | €2,075 | €44,548 | +€42,473 | +2046.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,494 | €61,601 | +€35,108 | +132.5% |
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 12 October 2026 via checked.be.