NAIADE-TORNACUM: 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.
NAIADE-TORNACUM
Largest movements
- Tangible fixed assets -€216,222
down €216,222 (-9.9%), from €2.2m to €2.0m
of which Land and buildings: -€215,078
- Cash +€38,174
up €38,174 (+41.7%), from €91,564 to €129,738
mainly Depreciation (+€247,090) and Other debts (+€21,768)
- Debts after one year -€198,968
down €198,968 (-32.0%), from €622,035 to €423,067
of which Financial debts: -€198,968
- Profit (loss) carried forward -€24,215
down €24,215 (-3.5%), from -€696,827 to -€721,041
- Gross operating margin +€19,723
up €19,723 (+6.9%), from €283,970 to €303,693
- Financial charges -€13,031
down €13,031 (-28.7%), from €45,434 to €32,403
- Turnover +€11,790
up €11,790 (+3.1%), from €377,869 to €389,659
- Purchases and services -€7,933
down €7,933 (-8.4%), from €93,899 to €85,966
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 | €2,288,340 | €2,101,881 | -€186,460 | -8.1% |
| Fixed assets | 21/28 | €2,188,335 | €1,972,113 | -€216,222 | -9.9% |
| Tangible fixed assets | 22/27 | €2,188,335 | €1,972,113 | -€216,222 | -9.9% |
| Land and buildings | 22 | €2,185,901 | €1,970,823 | -€215,078 | -9.8% |
| Plant, machinery and equipment | 23 | €2,433 | €1,290 | -€1,143 | -47.0% |
| Current assets | 29/58 | €100,006 | €129,768 | +€29,762 | +29.8% |
| Amounts receivable within one year | 40/41 | €8,442 | €30 | -€8,412 | -99.6% |
| Trade receivables | 40 | €8,412 | - | -€8,412 | |
| Other amounts receivable | 41 | €30 | €30 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €91,564 | €129,738 | +€38,174 | +41.7% |
| Total equity and liabilities | 10/49 | €2,288,340 | €2,101,881 | -€186,460 | -8.1% |
| Equity | 10/15 | €153,173 | €128,959 | -€24,215 | -15.8% |
| Contributions | 10/11 | €850,000 | €850,000 | = | 0.0% |
| Capital | 10 | €850,000 | €850,000 | = | 0.0% |
| Issued capital | 100 | €850,000 | €850,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€696,827 | -€721,041 | -€24,215 | -3.5% |
| Amounts payable | 17/49 | €2,135,167 | €1,972,922 | -€162,245 | -7.6% |
| Amounts payable after more than one year | 17 | €622,035 | €423,067 | -€198,968 | -32.0% |
| Financial debts | 170/4 | €606,805 | €407,837 | -€198,968 | -32.8% |
| Other amounts payable | 178/9 | €15,230 | €15,230 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,513,132 | €1,549,855 | +€36,723 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €198,968 | €198,968 | = | 0.0% |
| Trade debts | 44 | €6,921 | €21,876 | +€14,955 | +216% |
| Suppliers | 440/4 | €6,921 | €21,876 | +€14,955 | +216% |
| Other amounts payable | 47/48 | €1,307,242 | €1,329,011 | +€21,768 | +1.7% |
| Turnover | 70 | €377,869 | €389,659 | +€11,790 | +3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €93,899 | €85,966 | -€7,933 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,454 | €247,090 | -€3,364 | -1.3% |
| Other operating charges | 640/8 | €48,640 | €49,292 | +€652 | +1.3% |
| Gross operating margin | 9900 | €283,970 | €303,693 | +€19,723 | +6.9% |
| Operating profit (loss) | 9901 | -€15,124 | €7,311 | +€22,435 | |
| Financial income | 75/76B | €9 | €877 | +€868 | +9,658% |
| Recurring financial income | 75 | €9 | €877 | +€868 | +9,658% |
| Financial charges | 65/66B | €45,434 | €32,403 | -€13,031 | -28.7% |
| Recurring financial charges | 65 | €45,434 | €32,403 | -€13,031 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€60,549 | -€24,215 | +€36,334 | +60.0% |
| Profit (loss) for the period | 9904 | -€60,549 | -€24,215 | +€36,334 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,549 | -€24,215 | +€36,334 | +60.0% |
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 23 October 2026 via checked.be.