NADOHOLD: 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.
What changed
NADOHOLD
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€41,901
2024 · €49,794-€7,893
Equity
€2.2m
2024 · €2.1m+€41,901
Cash
€179,758
2024 · €138,172+€41,586
Balance sheet total
€3.6m
2024 · €3.6m-€11,325
Largest movements
Assets
- Tangible fixed assets -€52,687
down €52,687 (-6.1%), from €869,819 to €817,132
of which Land and buildings: -€28,406
- Cash +€41,586
up €41,586 (+30.1%), from €138,172 to €179,758
mainly Depreciation (+€53,550) and Net result for the year (+€41,901)
Equity and liabilities
- Reserves +€41,750
up €41,750 (+4.9%), from €850,890 to €892,640
Income statement
- Gross operating margin -€88,542
down €88,542 (-31.8%), from €278,653 to €190,111
- Financial charges -€74,756
down €74,756 (-50.7%), from €147,325 to €72,570
- Taxes -€6,241
down €6,241 (-26.7%), from €23,378 to €17,138
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.
Result 2024
€49,794
Gross operating margin
-€88,542
Depreciation
-€2,584
Other operating charges
+€1,724
Financial income
+€514
Financial charges
+€74,756
Taxes
+€6,241
Result 2025
€41,901
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€71,580
Investment
-€862
Financing
-€29,131
Cash 2024
€138,172
From operations (derived)
+€71,580
Net result for the year
+€41,901
Depreciation
+€53,550
Receivables within one year
-€2,689
Deferred charges and accrued income
+€2,912
Trade debts
+€1,663
Tax, wage and social debts
+€284
Other debts
-€22,539
Accrued charges and deferred income
-€3,504
Investment (derived)
-€862
Investment in fixed assets (net)
-€862
Financing
-€29,131
Debts after one year
-€30,976
Current portion of long-term debt
+€1,845
Cash 2025
€179,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,615,611 | €3,604,286 | -€11,325 | -0.3% |
| Fixed assets | 21/28 | €3,408,569 | €3,355,882 | -€52,687 | -1.5% |
| Tangible fixed assets | 22/27 | €869,819 | €817,132 | -€52,687 | -6.1% |
| Land and buildings | 22 | €796,442 | €768,037 | -€28,406 | -3.6% |
| Plant, machinery and equipment | 23 | - | €826 | +€826 | |
| Furniture and vehicles | 24 | €67,664 | €44,461 | -€23,203 | -34.3% |
| Other tangible fixed assets | 26 | €5,713 | €3,808 | -€1,904 | -33.3% |
| Financial fixed assets | 28 | €2,538,750 | €2,538,750 | = | 0.0% |
| Current assets | 29/58 | €207,042 | €248,404 | +€41,362 | +20.0% |
| Amounts receivable within one year | 40/41 | €63,937 | €66,625 | +€2,689 | +4.2% |
| Other amounts receivable | 41 | €63,937 | €66,625 | +€2,689 | +4.2% |
| Cash at bank and in hand | 54/58 | €138,172 | €179,758 | +€41,586 | +30.1% |
| Deferred charges and accrued income | 490/1 | €4,933 | €2,021 | -€2,912 | -59.0% |
| Total equity and liabilities | 10/49 | €3,615,611 | €3,604,286 | -€11,325 | -0.3% |
| Equity | 10/15 | €2,135,048 | €2,176,950 | +€41,901 | +2.0% |
| Contributions | 10/11 | €1,288,750 | €1,288,750 | = | 0.0% |
| Reserves | 13 | €850,890 | €892,640 | +€41,750 | +4.9% |
| Distributable reserves | 133 | €850,890 | €892,640 | +€41,750 | +4.9% |
| Profit (loss) carried forward | 14 | -€4,592 | -€4,441 | +€151 | +3.3% |
| Amounts payable | 17/49 | €1,480,562 | €1,427,336 | -€53,226 | -3.6% |
| Amounts payable after more than one year | 17 | €397,510 | €366,534 | -€30,976 | -7.8% |
| Financial debts | 170/4 | €397,510 | €366,534 | -€30,976 | -7.8% |
| Amounts payable within one year | 42/48 | €1,073,165 | €1,054,419 | -€18,746 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €30,494 | €32,339 | +€1,845 | +6.0% |
| Trade debts | 44 | €1,894 | €3,557 | +€1,663 | +87.8% |
| Suppliers | 440/4 | €1,894 | €3,557 | +€1,663 | +87.8% |
| Taxes, remuneration and social security | 45 | €22,629 | €22,913 | +€284 | +1.3% |
| Taxes | 450/3 | €22,629 | €19,861 | -€2,768 | -12.2% |
| Remuneration and social security | 454/9 | - | €3,052 | +€3,052 | |
| Other amounts payable | 47/48 | €1,018,149 | €995,610 | -€22,539 | -2.2% |
| Accrued charges and deferred income | 492/3 | €9,887 | €6,383 | -€3,504 | -35.4% |
| Non-recurring operating income | 76A | €26,790 | €3,593 | -€23,197 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,966 | €53,550 | +€2,584 | +5.1% |
| Other operating charges | 640/8 | €7,588 | €5,864 | -€1,724 | -22.7% |
| Gross operating margin | 9900 | €278,653 | €190,111 | -€88,542 | -31.8% |
| Operating profit (loss) | 9901 | €220,099 | €130,697 | -€89,403 | -40.6% |
| Financial income | 75/76B | €398 | €912 | +€514 | +129% |
| Recurring financial income | 75 | €398 | €912 | +€514 | +129% |
| Financial charges | 65/66B | €147,325 | €72,570 | -€74,756 | -50.7% |
| Recurring financial charges | 65 | €147,325 | €72,570 | -€74,756 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €73,172 | €59,039 | -€14,133 | -19.3% |
| Income taxes | 67/77 | €23,378 | €17,138 | -€6,241 | -26.7% |
| Profit (loss) for the period | 9904 | €49,794 | €41,901 | -€7,893 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,794 | €41,901 | -€7,893 | -15.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.