NAFIMMO: 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.
NAFIMMO
Largest movements
- Tangible fixed assets -€24,856
down €24,856 (-12.3%), from €201,701 to €176,846
of which Furniture and vehicles: -€26,200
- Cash -€12,723
down €12,723 (-2.1%), from €596,589 to €583,867
mainly Net result for the year (-€30,149) and Investment in fixed assets (net) (-€13,635)
- Profit (loss) carried forward -€30,149
down €30,149 (-57.3%), from -€52,635 to -€82,784
- Gross operating margin +€5,615
up €5,615 (+67.8%), from €8,288 to €13,903
- Financial income -€3,712
down €3,712 (-100%), from €3,712 to €0
- Depreciation +€2,442
up €2,442 (+6.8%), from €36,049 to €38,491
- Other operating charges +€144
up €144 (+3.1%), from €4,616 to €4,760
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 | €799,012 | €761,434 | -€37,578 | -4.7% |
| Fixed assets | 21/28 | €201,701 | €176,846 | -€24,856 | -12.3% |
| Tangible fixed assets | 22/27 | €201,701 | €176,846 | -€24,856 | -12.3% |
| Land and buildings | 22 | €147,197 | €148,017 | +€820 | +0.6% |
| Plant, machinery and equipment | 23 | €1,589 | €2,112 | +€524 | +33.0% |
| Furniture and vehicles | 24 | €52,916 | €26,716 | -€26,200 | -49.5% |
| Current assets | 29/58 | €597,311 | €584,588 | -€12,723 | -2.1% |
| Amounts receivable within one year | 40/41 | €721 | €721 | = | 0.0% |
| Other amounts receivable | 41 | €721 | €721 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €596,589 | €583,867 | -€12,723 | -2.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €799,012 | €761,434 | -€37,578 | -4.7% |
| Equity | 10/15 | €764,088 | €733,939 | -€30,149 | -3.9% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Capital | 10 | €347,051 | €347,051 | = | 0.0% |
| Issued capital | 100 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €469,672 | €469,672 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,839 | €25,839 | = | 0.0% |
| Legal reserve | 130 | €25,839 | €25,839 | = | 0.0% |
| Distributable reserves | 133 | €443,833 | €443,833 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,635 | -€82,784 | -€30,149 | -57.3% |
| Amounts payable | 17/49 | €34,924 | €27,494 | -€7,430 | -21.3% |
| Amounts payable after more than one year | 17 | €20,093 | €14,735 | -€5,358 | -26.7% |
| Financial debts | 170/4 | €18,638 | €13,280 | -€5,358 | -28.7% |
| Other amounts payable | 178/9 | €1,455 | €1,455 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,831 | €11,489 | -€3,342 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €5,279 | €5,358 | +€79 | +1.5% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €390 | +€390 | |
| Taxes | 450/3 | €0 | €390 | +€390 | |
| Other amounts payable | 47/48 | €9,552 | €5,741 | -€3,811 | -39.9% |
| Accrued charges and deferred income | 492/3 | - | €1,270 | +€1,270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,049 | €38,491 | +€2,442 | +6.8% |
| Other operating charges | 640/8 | €4,616 | €4,760 | +€144 | +3.1% |
| Gross operating margin | 9900 | €8,288 | €13,903 | +€5,615 | +67.8% |
| Operating profit (loss) | 9901 | -€32,377 | -€29,347 | +€3,029 | +9.4% |
| Financial income | 75/76B | €3,712 | €0 | -€3,712 | -100% |
| Recurring financial income | 75 | €3,712 | €0 | -€3,712 | -100% |
| Financial charges | 65/66B | €489 | €411 | -€78 | -15.9% |
| Recurring financial charges | 65 | €489 | €411 | -€78 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,153 | -€29,758 | -€605 | -2.1% |
| Income taxes | 67/77 | €392 | €390 | -€2 | -0.5% |
| Profit (loss) for the period | 9904 | -€29,545 | -€30,149 | -€603 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,545 | -€30,149 | -€603 | -2.0% |
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 13 October 2026 via checked.be.