NAEDTS: 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.
What changed
NAEDTS
NACE 46.212, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€67,665
2024 · €53,920+€13,745
Equity
€632,789
2024 · €565,124+€67,665
Cash
€116,582
2024 · €135,316-€18,735
Balance sheet total
€2.4m
2024 · €2.3m+€66,206
Largest movements
Assets
- Stocks and contracts +€65,320
up €65,320 (+33.4%), from €195,280 to €260,600
of which Stocks: +€40,920
- Deferred charges and accrued income -€24,214
down €24,214 (-32.5%), from €74,395 to €50,181
Equity and liabilities
- Reserves +€67,665
up €67,665 (+13.9%), from €486,531 to €554,197
- Current portion of long-term debt +€42,875
up €42,875 (+28.5%), from €150,447 to €193,322
- Debts after one year -€23,703
down €23,703 (-5.2%), from €458,104 to €434,401
Income statement
- Gross operating margin +€38,525
up €38,525 (+12.3%), from €313,780 to €352,305
- Taxes +€21,609
up €21,609 (+79.8%), from €27,092 to €48,701
- Depreciation +€21,082
up €21,082 (+19.8%), from €106,740 to €127,822
- Write-downs -€9,500
new in 2025: -€9,500
- Financial charges -€4,565
down €4,565 (-13.3%), from €34,319 to €29,754
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
€53,920
Gross operating margin
+€38,525
Staff costs
+€186
Depreciation
-€21,082
Write-downs
+€9,500
Other operating charges
+€3,591
Other operating items
+€915
Financial income
-€845
Financial charges
+€4,565
Taxes
-€21,609
Result 2025
€67,665
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.
From operations
+€127,544
Investment
-€150,451
Financing
+€4,172
Cash 2024
€135,316
From operations (derived)
+€127,544
Net result for the year
+€67,665
Depreciation
+€127,822
Stocks and contracts
-€65,320
Receivables within one year
-€21,206
Deferred charges and accrued income
+€24,214
Trade debts
-€16,954
Tax, wage and social debts
+€5,599
Other debts
+€5,990
Accrued charges and deferred income
-€265
Investment (derived)
-€150,451
Investment in fixed assets (net)
-€150,451
Financing
+€4,172
Debts after one year
-€23,703
Current portion of long-term debt
+€42,875
Short-term financial debts
-€15,000
Cash 2025
€116,582
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,302,975 | €2,369,181 | +€66,206 | +2.9% |
| Fixed assets | 21/28 | €1,326,312 | €1,348,941 | +€22,629 | +1.7% |
| Tangible fixed assets | 22/27 | €728,418 | €751,047 | +€22,629 | +3.1% |
| Land and buildings | 22 | €393,449 | €354,643 | -€38,807 | -9.9% |
| Plant, machinery and equipment | 23 | €117,032 | €138,747 | +€21,716 | +18.6% |
| Furniture and vehicles | 24 | €69,296 | €124,230 | +€54,935 | +79.3% |
| Other tangible fixed assets | 26 | €148,641 | €133,426 | -€15,215 | -10.2% |
| Financial fixed assets | 28 | €597,894 | €597,894 | = | 0.0% |
| Current assets | 29/58 | €976,663 | €1,020,241 | +€43,578 | +4.5% |
| Stocks and contracts in progress | 3 | €195,280 | €260,600 | +€65,320 | +33.4% |
| Stocks | 30/36 | €15,180 | €56,100 | +€40,920 | +269.6% |
| Contracts in progress | 37 | €180,100 | €204,500 | +€24,400 | +13.5% |
| Amounts receivable within one year | 40/41 | €539,672 | €560,879 | +€21,206 | +3.9% |
| Trade receivables | 40 | €437,873 | €480,665 | +€42,792 | +9.8% |
| Other amounts receivable | 41 | €101,799 | €80,213 | -€21,586 | -21.2% |
| Current investments | 50/53 | €32,000 | €32,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €135,316 | €116,582 | -€18,735 | -13.8% |
| Deferred charges and accrued income | 490/1 | €74,395 | €50,181 | -€24,214 | -32.5% |
| Total equity and liabilities | 10/49 | €2,302,975 | €2,369,181 | +€66,206 | +2.9% |
| Equity | 10/15 | €565,124 | €632,789 | +€67,665 | +12.0% |
| Contributions | 10/11 | €78,592 | €78,592 | = | 0.0% |
| Reserves | 13 | €486,531 | €554,197 | +€67,665 | +13.9% |
| Distributable reserves | 133 | €486,531 | €554,197 | +€67,665 | +13.9% |
| Provisions and deferred taxes | 16 | €200,000 | €200,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €200,000 | €200,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,537,852 | €1,536,393 | -€1,459 | -0.1% |
| Amounts payable after more than one year | 17 | €458,104 | €434,401 | -€23,703 | -5.2% |
| Financial debts | 170/4 | €458,104 | €434,401 | -€23,703 | -5.2% |
| Amounts payable within one year | 42/48 | €878,098 | €900,608 | +€22,510 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €150,447 | €193,322 | +€42,875 | +28.5% |
| Financial debts | 43 | €275,000 | €260,000 | -€15,000 | -5.5% |
| Credit institutions | 430/8 | €275,000 | €260,000 | -€15,000 | -5.5% |
| Trade debts | 44 | €367,978 | €351,025 | -€16,954 | -4.6% |
| Suppliers | 440/4 | €367,978 | €351,025 | -€16,954 | -4.6% |
| Taxes, remuneration and social security | 45 | €33,138 | €38,736 | +€5,599 | +16.9% |
| Taxes | 450/3 | €7,278 | €18,163 | +€10,885 | +149.6% |
| Remuneration and social security | 454/9 | €25,860 | €20,574 | -€5,286 | -20.4% |
| Other amounts payable | 47/48 | €51,536 | €57,525 | +€5,990 | +11.6% |
| Accrued charges and deferred income | 492/3 | €201,649 | €201,384 | -€265 | -0.1% |
| Remuneration, social security and pensions | 62 | €75,088 | €74,902 | -€186 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,740 | €127,822 | +€21,082 | +19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€9,500 | -€9,500 | |
| Other operating charges | 640/8 | €17,006 | €13,416 | -€3,591 | -21.1% |
| Non-recurring operating charges | 66A | €915 | - | -€915 | |
| Gross operating margin | 9900 | €313,780 | €352,305 | +€38,525 | +12.3% |
| Operating profit (loss) | 9901 | €114,031 | €145,665 | +€31,635 | +27.7% |
| Financial income | 75/76B | €1,301 | €455 | -€845 | -65.0% |
| Recurring financial income | 75 | €1,301 | €455 | -€845 | -65.0% |
| Financial charges | 65/66B | €34,319 | €29,754 | -€4,565 | -13.3% |
| Recurring financial charges | 65 | €34,319 | €29,754 | -€4,565 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €81,012 | €116,367 | +€35,355 | +43.6% |
| Income taxes | 67/77 | €27,092 | €48,701 | +€21,609 | +79.8% |
| Profit (loss) for the period | 9904 | €53,920 | €67,665 | +€13,745 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,920 | €67,665 | +€13,745 | +25.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.