NADS: 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.
NADS
Largest movements
- Tangible fixed assets -€1,379
down €1,379 (-14.2%), from €9,734 to €8,355
- Cash +€1,086
up €1,086 (+780%), from €139 to €1,225
mainly Other debts (+€3,024) and Depreciation (+€1,379)
- Receivables within one year -€562
down €562 (-8.9%), from €6,339 to €5,777
of which Other amounts receivable: -€1,249
- Trade debts -€4,698
down €4,698 (-58.3%), from €8,064 to €3,366
- Other debts +€3,024
new in 2025: €3,024
- Tax, wage and social debts +€829
up €829 (+31.3%), from €2,651 to €3,480
- Gross operating margin +€2,877
up €2,877, from -€90 to €2,787
- Financial charges +€557
up €557 (+121%), from €461 to €1,018
- Financial income -€100
no longer reported in 2025 (was €100)
- Depreciation -€41
down €41 (-2.9%), from €1,419 to €1,379
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,212 | €15,358 | -€855 | -5.3% |
| Fixed assets | 21/28 | €9,734 | €8,355 | -€1,379 | -14.2% |
| Tangible fixed assets | 22/27 | €9,734 | €8,355 | -€1,379 | -14.2% |
| Plant, machinery and equipment | 23 | €9,734 | €8,355 | -€1,379 | -14.2% |
| Current assets | 29/58 | €6,479 | €7,002 | +€524 | +8.1% |
| Amounts receivable within one year | 40/41 | €6,339 | €5,777 | -€562 | -8.9% |
| Trade receivables | 40 | €5,090 | €5,777 | +€687 | +13.5% |
| Other amounts receivable | 41 | €1,249 | - | -€1,249 | |
| Cash at bank and in hand | 54/58 | €139 | €1,225 | +€1,086 | +780% |
| Total equity and liabilities | 10/49 | €16,212 | €15,358 | -€855 | -5.3% |
| Equity | 10/15 | €5,498 | €5,489 | -€9 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,102 | -€13,111 | -€9 | -0.1% |
| Amounts payable | 17/49 | €10,715 | €9,869 | -€846 | -7.9% |
| Amounts payable within one year | 42/48 | €10,715 | €9,869 | -€846 | -7.9% |
| Trade debts | 44 | €8,064 | €3,366 | -€4,698 | -58.3% |
| Suppliers | 440/4 | €8,064 | €3,366 | -€4,698 | -58.3% |
| Taxes, remuneration and social security | 45 | €2,651 | €3,480 | +€829 | +31.3% |
| Taxes | 450/3 | €2,651 | €3,480 | +€829 | +31.3% |
| Other amounts payable | 47/48 | - | €3,024 | +€3,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,419 | €1,379 | -€41 | -2.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€90 | €2,787 | +€2,877 | |
| Operating profit (loss) | 9901 | -€1,896 | €1,009 | +€2,905 | |
| Financial income | 75/76B | €100 | - | -€100 | |
| Recurring financial income | 75 | €100 | - | -€100 | |
| Financial charges | 65/66B | €461 | €1,018 | +€557 | +121% |
| Recurring financial charges | 65 | €461 | €1,018 | +€557 | +121% |
| Profit (loss) for the period before taxes | 9903 | -€2,257 | -€9 | +€2,248 | +99.6% |
| Profit (loss) for the period | 9904 | -€2,257 | -€9 | +€2,248 | +99.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,257 | -€9 | +€2,248 | +99.6% |
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 30 October 2026 via checked.be.