NAHECA: 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.
NAHECA
Largest movements
- Receivables within one year +€38,358
up €38,358 (+170.3%), from €22,531 to €60,889
of which Trade receivables: +€38,137
- Cash +€20,828
up €20,828 (+33.1%), from €63,007 to €83,835
mainly Net result for the year (+€53,602) and Tax, wage and social debts (+€20,984)
- Tangible fixed assets -€4,410
down €4,410 (-25.2%), from €17,508 to €13,098
- Tax, wage and social debts +€20,984
up €20,984 (+52.7%), from €39,813 to €60,797
- Profit (loss) carried forward +€19,302
up €19,302 (+38.6%), from €49,978 to €69,279
- Other debts +€12,005
up €12,005 (+100.0%), from €12,005 to €24,010
- Accrued charges and deferred income +€1,849
up €1,849 (+461.8%), from €400 to €2,250
- Other operating charges -€6,369
down €6,369 (-91.8%), from €6,935 to €566
- Depreciation +€4,085
up €4,085 (+137.7%), from €2,966 to €7,051
- Taxes +€3,275
up €3,275 (+21.7%), from €15,127 to €18,402
- Gross operating margin +€2,716
up €2,716 (+3.5%), from €76,955 to €79,670
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 | €114,502 | €167,349 | +€52,847 | +46.2% |
| Fixed assets | 21/28 | €17,623 | €13,213 | -€4,410 | -25.0% |
| Tangible fixed assets | 22/27 | €17,508 | €13,098 | -€4,410 | -25.2% |
| Furniture and vehicles | 24 | €17,508 | €13,098 | -€4,410 | -25.2% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €96,879 | €154,136 | +€57,257 | +59.1% |
| Amounts receivable within one year | 40/41 | €22,531 | €60,889 | +€38,358 | +170.3% |
| Trade receivables | 40 | €22,363 | €60,500 | +€38,137 | +170.5% |
| Other amounts receivable | 41 | €167 | €389 | +€222 | +132.7% |
| Current investments | 50/53 | €10,206 | €9,260 | -€946 | -9.3% |
| Cash at bank and in hand | 54/58 | €63,007 | €83,835 | +€20,828 | +33.1% |
| Deferred charges and accrued income | 490/1 | €1,135 | €152 | -€983 | -86.6% |
| Total equity and liabilities | 10/49 | €114,502 | €167,349 | +€52,847 | +46.2% |
| Equity | 10/15 | €58,189 | €77,490 | +€19,302 | +33.2% |
| Contributions | 10/11 | €6,351 | €6,351 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,978 | €69,279 | +€19,302 | +38.6% |
| Amounts payable | 17/49 | €56,313 | €89,858 | +€33,545 | +59.6% |
| Amounts payable within one year | 42/48 | €55,913 | €87,609 | +€31,696 | +56.7% |
| Trade debts | 44 | €4,094 | €2,802 | -€1,293 | -31.6% |
| Suppliers | 440/4 | €4,094 | €2,802 | -€1,293 | -31.6% |
| Taxes, remuneration and social security | 45 | €39,813 | €60,797 | +€20,984 | +52.7% |
| Taxes | 450/3 | €39,813 | €60,797 | +€20,984 | +52.7% |
| Other amounts payable | 47/48 | €12,005 | €24,010 | +€12,005 | +100.0% |
| Accrued charges and deferred income | 492/3 | €400 | €2,250 | +€1,849 | +461.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,966 | €7,051 | +€4,085 | +137.7% |
| Other operating charges | 640/8 | €6,935 | €566 | -€6,369 | -91.8% |
| Gross operating margin | 9900 | €76,955 | €79,670 | +€2,716 | +3.5% |
| Operating profit (loss) | 9901 | €67,054 | €72,053 | +€4,999 | +7.5% |
| Financial income | 75/76B | €140 | €67 | -€73 | -52.2% |
| Recurring financial income | 75 | €140 | €67 | -€73 | -52.2% |
| Financial charges | 65/66B | €368 | €116 | -€251 | -68.3% |
| Recurring financial charges | 65 | €368 | €116 | -€251 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | €66,826 | €72,003 | +€5,177 | +7.7% |
| Income taxes | 67/77 | €15,127 | €18,402 | +€3,275 | +21.7% |
| Profit (loss) for the period | 9904 | €51,699 | €53,602 | +€1,902 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,699 | €53,602 | +€1,902 | +3.7% |
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 10 October 2026 via checked.be.