NAL CONCEPT: 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.
NAL CONCEPT
Largest movements
- Tangible fixed assets +€13,293
new in 2025: €13,293
of which Other tangible fixed assets: +€10,286
- Receivables within one year +€3,443
up €3,443 (+17.6%), from €19,528 to €22,971
of which Other amounts receivable: +€3,643
- Stocks and contracts +€1,784
up €1,784 (+373.2%), from €478 to €2,262
- Cash -€1,352
down €1,352 (-11.6%), from €11,691 to €10,339
mainly Investment in fixed assets (net) (-€15,188) and Receivables within one year (-€3,443)
- Other debts +€17,100
new in 2025: €17,100
- Gross operating margin -€8,144
down €8,144 (-61.2%), from €13,308 to €5,164
- Depreciation +€1,895
new in 2025: €1,895
- Staff costs +€1,857
new in 2025: €1,857
- Taxes -€1,579
down €1,579, from €1,335 to -€244
- Other operating charges -€898
down €898 (-69.6%), from €1,290 to €392
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 | €31,697 | €48,865 | +€17,168 | +54.2% |
| Fixed assets | 21/28 | - | €13,293 | +€13,293 | |
| Tangible fixed assets | 22/27 | - | €13,293 | +€13,293 | |
| Plant, machinery and equipment | 23 | - | €3,007 | +€3,007 | |
| Other tangible fixed assets | 26 | - | €10,286 | +€10,286 | |
| Current assets | 29/58 | €31,697 | €35,572 | +€3,875 | +12.2% |
| Stocks and contracts in progress | 3 | €478 | €2,262 | +€1,784 | +373.2% |
| Stocks | 30/36 | €478 | €2,262 | +€1,784 | +373.2% |
| Amounts receivable within one year | 40/41 | €19,528 | €22,971 | +€3,443 | +17.6% |
| Trade receivables | 40 | €200 | - | -€200 | |
| Other amounts receivable | 41 | €19,328 | €22,971 | +€3,643 | +18.8% |
| Cash at bank and in hand | 54/58 | €11,691 | €10,339 | -€1,352 | -11.6% |
| Total equity and liabilities | 10/49 | €31,697 | €48,865 | +€17,168 | +54.2% |
| Equity | 10/15 | €30,660 | €30,594 | -€66 | -0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,400 | €16,334 | -€66 | -0.4% |
| Amounts payable | 17/49 | €1,037 | €18,271 | +€17,234 | +1661.9% |
| Amounts payable within one year | 42/48 | €1,037 | €18,271 | +€17,234 | +1661.9% |
| Trade debts | 44 | €172 | €374 | +€202 | +117.4% |
| Suppliers | 440/4 | €172 | €374 | +€202 | +117.4% |
| Taxes, remuneration and social security | 45 | €865 | €797 | -€68 | -7.9% |
| Taxes | 450/3 | €865 | €790 | -€75 | -8.7% |
| Remuneration and social security | 454/9 | - | €7 | +€7 | |
| Other amounts payable | 47/48 | - | €17,100 | +€17,100 | |
| Remuneration, social security and pensions | 62 | - | €1,857 | +€1,857 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,895 | +€1,895 | |
| Other operating charges | 640/8 | €1,290 | €392 | -€898 | -69.6% |
| Gross operating margin | 9900 | €13,308 | €5,164 | -€8,144 | -61.2% |
| Operating profit (loss) | 9901 | €12,018 | €1,020 | -€10,998 | -91.5% |
| Financial income | 75/76B | €42 | €35 | -€7 | -16.7% |
| Recurring financial income | 75 | €42 | €35 | -€7 | -16.7% |
| Financial charges | 65/66B | €854 | €1,365 | +€511 | +59.8% |
| Recurring financial charges | 65 | €854 | €1,365 | +€511 | +59.8% |
| Profit (loss) for the period before taxes | 9903 | €11,206 | -€310 | -€11,516 | |
| Income taxes | 67/77 | €1,335 | -€244 | -€1,579 | |
| Profit (loss) for the period | 9904 | €9,871 | -€66 | -€9,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,871 | -€66 | -€9,937 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.