NAFCONSULT: 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.
NAFCONSULT
Largest movements
- Tangible fixed assets +€198,276
up €198,276 (+40.4%), from €490,191 to €688,467
- Current investments -€105,000
no longer reported in 2025 (was €105,000)
- Receivables within one year +€25,722
up €25,722 (+148.9%), from €17,276 to €42,998
of which Trade receivables: +€19,580
- Debts after one year +€69,437
up €69,437 (+11.1%), from €626,460 to €695,897
- Current portion of long-term debt +€30,147
up €30,147 (+96.4%), from €31,258 to €61,405
- Reserves +€29,476
up €29,476 (+5.9%), from €501,775 to €531,251
- Depreciation +€37,251
up €37,251 (+83.8%), from €44,473 to €81,724
- Gross operating margin -€29,103
down €29,103 (-15.1%), from €192,295 to €163,192
- Taxes -€21,034
down €21,034 (-56.6%), from €37,167 to €16,133
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 | €1,261,891 | €1,389,462 | +€127,570 | +10.1% |
| Fixed assets | 21/28 | €1,112,191 | €1,310,467 | +€198,276 | +17.8% |
| Tangible fixed assets | 22/27 | €490,191 | €688,467 | +€198,276 | +40.4% |
| Land and buildings | 22 | €490,191 | €688,467 | +€198,276 | +40.4% |
| Financial fixed assets | 28 | €622,000 | €622,000 | = | 0.0% |
| Current assets | 29/58 | €149,700 | €78,995 | -€70,705 | -47.2% |
| Amounts receivable within one year | 40/41 | €17,276 | €42,998 | +€25,722 | +148.9% |
| Trade receivables | 40 | €15,420 | €35,000 | +€19,580 | +127.0% |
| Other amounts receivable | 41 | €1,856 | €7,998 | +€6,142 | +330.9% |
| Current investments | 50/53 | €105,000 | - | -€105,000 | |
| Cash at bank and in hand | 54/58 | €24,498 | €32,775 | +€8,277 | +33.8% |
| Deferred charges and accrued income | 490/1 | €2,926 | €3,222 | +€296 | +10.1% |
| Total equity and liabilities | 10/49 | €1,261,891 | €1,389,462 | +€127,570 | +10.1% |
| Equity | 10/15 | €554,775 | €583,251 | +€28,476 | +5.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €501,775 | €531,251 | +€29,476 | +5.9% |
| Distributable reserves | 133 | €501,775 | €531,251 | +€29,476 | +5.9% |
| Profit (loss) carried forward | 14 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Amounts payable | 17/49 | €707,116 | €806,211 | +€99,094 | +14.0% |
| Amounts payable after more than one year | 17 | €626,460 | €695,897 | +€69,437 | +11.1% |
| Financial debts | 170/4 | €626,460 | €695,897 | +€69,437 | +11.1% |
| Amounts payable within one year | 42/48 | €60,553 | €91,062 | +€30,509 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €31,258 | €61,405 | +€30,147 | +96.4% |
| Trade debts | 44 | €8,233 | €9,721 | +€1,488 | +18.1% |
| Suppliers | 440/4 | €8,233 | €9,721 | +€1,488 | +18.1% |
| Taxes, remuneration and social security | 45 | €13,776 | €8,764 | -€5,012 | -36.4% |
| Taxes | 450/3 | €13,776 | €8,764 | -€5,012 | -36.4% |
| Other amounts payable | 47/48 | €7,286 | €11,173 | +€3,887 | +53.3% |
| Accrued charges and deferred income | 492/3 | €20,103 | €19,252 | -€851 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,473 | €81,724 | +€37,251 | +83.8% |
| Other operating charges | 640/8 | €6,712 | €4,791 | -€1,921 | -28.6% |
| Gross operating margin | 9900 | €192,295 | €163,192 | -€29,103 | -15.1% |
| Operating profit (loss) | 9901 | €141,110 | €76,676 | -€64,434 | -45.7% |
| Financial income | 75/76B | €529 | €1,367 | +€837 | +158.2% |
| Recurring financial income | 75 | €529 | €1,367 | +€837 | +158.2% |
| Financial charges | 65/66B | €30,978 | €32,434 | +€1,456 | +4.7% |
| Recurring financial charges | 65 | €30,978 | €32,434 | +€1,456 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €110,661 | €45,609 | -€65,052 | -58.8% |
| Income taxes | 67/77 | €37,167 | €16,133 | -€21,034 | -56.6% |
| Profit (loss) for the period | 9904 | €73,494 | €29,476 | -€44,018 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,494 | €29,476 | -€44,018 | -59.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.