NADLANALON: 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.
NADLANALON
Largest movements
- Current investments -€650,000
no longer reported in 2025 (was €650,000)
- Stocks and contracts -€397,566
down €397,566 (-12.8%), from €3.1m to €2.7m
- Cash +€219,901
up €219,901 (+50.4%), from €436,082 to €655,983
mainly Current investments (+€650,000) and Stocks and contracts (+€397,566)
- Short-term financial debts -€701,317
down €701,317 (-31.0%), from €2.3m to €1.6m
- Profit (loss) carried forward -€108,104
down €108,104 (-46.7%), from €231,499 to €123,396
- Gross operating margin -€473,830
down €473,830 (-81.1%), from €583,972 to €110,143
- Financial charges -€87,971
down €87,971 (-34.2%), from €257,032 to €169,061
- Taxes -€49,183
down €49,183 (-99.5%), from €49,447 to €264
- Other operating charges -€19,826
down €19,826 (-41.7%), from €47,531 to €27,705
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 | €4,931,033 | €4,110,812 | -€820,221 | -16.6% |
| Fixed assets | 21/28 | €734,070 | €697,453 | -€36,617 | -5.0% |
| Tangible fixed assets | 22/27 | €734,070 | €697,453 | -€36,617 | -5.0% |
| Land and buildings | 22 | €683,337 | €665,194 | -€18,142 | -2.7% |
| Furniture and vehicles | 24 | €50,734 | €32,259 | -€18,475 | -36.4% |
| Current assets | 29/58 | €4,196,963 | €3,413,358 | -€783,604 | -18.7% |
| Stocks and contracts in progress | 3 | €3,105,848 | €2,708,282 | -€397,566 | -12.8% |
| Stocks | 30/36 | €3,105,848 | €2,708,282 | -€397,566 | -12.8% |
| Amounts receivable within one year | 40/41 | - | €44,704 | +€44,704 | |
| Trade receivables | 40 | - | €43,250 | +€43,250 | |
| Other amounts receivable | 41 | - | €1,454 | +€1,454 | |
| Current investments | 50/53 | €650,000 | - | -€650,000 | |
| Cash at bank and in hand | 54/58 | €436,082 | €655,983 | +€219,901 | +50.4% |
| Deferred charges and accrued income | 490/1 | €5,032 | €4,389 | -€643 | -12.8% |
| Total equity and liabilities | 10/49 | €4,931,033 | €4,110,812 | -€820,221 | -16.6% |
| Equity | 10/15 | €1,355,849 | €1,240,489 | -€115,360 | -8.5% |
| Contributions | 10/11 | €402,000 | €402,000 | = | 0.0% |
| Reserves | 13 | €722,349 | €715,093 | -€7,256 | -1.0% |
| Tax-exempt reserves | 132 | €147,539 | €140,283 | -€7,256 | -4.9% |
| Distributable reserves | 133 | €574,810 | €574,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,499 | €123,396 | -€108,104 | -46.7% |
| Provisions and deferred taxes | 16 | €49,180 | €46,761 | -€2,419 | -4.9% |
| Deferred taxes | 168 | €49,180 | €46,761 | -€2,419 | -4.9% |
| Amounts payable | 17/49 | €3,526,004 | €2,823,562 | -€702,442 | -19.9% |
| Amounts payable within one year | 42/48 | €3,523,534 | €2,819,897 | -€703,637 | -20.0% |
| Financial debts | 43 | €2,259,862 | €1,558,545 | -€701,317 | -31.0% |
| Credit institutions | 430/8 | €2,259,862 | €1,558,545 | -€701,317 | -31.0% |
| Trade debts | 44 | €9,559 | €17,346 | +€7,787 | +81.5% |
| Suppliers | 440/4 | €9,559 | €17,346 | +€7,787 | +81.5% |
| Taxes, remuneration and social security | 45 | €14,447 | - | -€14,447 | |
| Taxes | 450/3 | €14,447 | - | -€14,447 | |
| Other amounts payable | 47/48 | €1,239,666 | €1,244,006 | +€4,340 | +0.4% |
| Accrued charges and deferred income | 492/3 | €2,471 | €3,665 | +€1,195 | +48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,457 | €36,617 | +€3,160 | +9.4% |
| Other operating charges | 640/8 | €47,531 | €27,705 | -€19,826 | -41.7% |
| Gross operating margin | 9900 | €583,972 | €110,143 | -€473,830 | -81.1% |
| Operating profit (loss) | 9901 | €502,984 | €45,821 | -€457,163 | -90.9% |
| Financial income | 75/76B | €0 | €5,726 | +€5,726 | +57257900.0% |
| Recurring financial income | 75 | €0 | €5,726 | +€5,726 | +57257900.0% |
| Financial charges | 65/66B | €257,032 | €169,061 | -€87,971 | -34.2% |
| Recurring financial charges | 65 | €257,032 | €169,061 | -€87,971 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €245,952 | -€117,515 | -€363,467 | |
| Transfer from deferred taxes | 780 | €2,419 | €2,419 | = | 0.0% |
| Income taxes | 67/77 | €49,447 | €264 | -€49,183 | -99.5% |
| Profit (loss) for the period | 9904 | €198,924 | -€115,360 | -€314,284 | |
| Transfer from tax-exempt reserves | 789 | €7,256 | €7,256 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €206,180 | -€108,104 | -€314,284 |
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.