NALI: 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.
NALI
Largest movements
- Stocks and contracts +€88,797
up €88,797 (+328.7%), from €27,014 to €115,811
- Receivables within one year -€32,629
down €32,629 (-66.8%), from €48,862 to €16,233
of which Other amounts receivable: -€18,162
- Cash -€18,022
down €18,022 (-45.2%), from €39,875 to €21,854
mainly Stocks and contracts (-€88,797) and Debts after one year (-€5,603)
- Tangible fixed assets -€5,493
down €5,493 (-25.5%), from €21,503 to €16,011
- Deferred charges and accrued income -€2,192
no longer reported in 2025 (was €2,192)
- Trade debts +€32,210
up €32,210 (+122.9%), from €26,207 to €58,416
- Profit (loss) carried forward +€5,978
up €5,978 (+60.4%), from €9,905 to €15,883
- Debts after one year -€5,603
down €5,603 (-32.0%), from €17,500 to €11,898
- Tax, wage and social debts -€2,398
down €2,398 (-14.3%), from €16,748 to €14,350
of which Taxes: -€2,735
- Gross operating margin +€21,488
up €21,488 (+108.7%), from €19,767 to €41,254
- Staff costs +€1,214
up €1,214 (+6.1%), from €20,047 to €21,261
- Write-downs -€1,104
no longer reported in 2025 (was €1,104)
- Other operating charges +€1,041
up €1,041 (+63.7%), from €1,633 to €2,674
- Financial income -€572
down €572 (-61.6%), from €928 to €356
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 | €145,571 | €176,150 | +€30,579 | +21.0% |
| Fixed assets | 21/28 | €27,628 | €22,253 | -€5,375 | -19.5% |
| Tangible fixed assets | 22/27 | €21,503 | €16,011 | -€5,493 | -25.5% |
| Furniture and vehicles | 24 | €21,503 | €16,011 | -€5,493 | -25.5% |
| Financial fixed assets | 28 | €6,124 | €6,242 | +€118 | +1.9% |
| Current assets | 29/58 | €117,943 | €153,898 | +€35,954 | +30.5% |
| Stocks and contracts in progress | 3 | €27,014 | €115,811 | +€88,797 | +328.7% |
| Stocks | 30/36 | €27,014 | €115,811 | +€88,797 | +328.7% |
| Amounts receivable within one year | 40/41 | €48,862 | €16,233 | -€32,629 | -66.8% |
| Trade receivables | 40 | €22,667 | €8,200 | -€14,468 | -63.8% |
| Other amounts receivable | 41 | €26,195 | €8,033 | -€18,162 | -69.3% |
| Cash at bank and in hand | 54/58 | €39,875 | €21,854 | -€18,022 | -45.2% |
| Deferred charges and accrued income | 490/1 | €2,192 | - | -€2,192 | |
| Total equity and liabilities | 10/49 | €145,571 | €176,150 | +€30,579 | +21.0% |
| Equity | 10/15 | €79,905 | €85,883 | +€5,978 | +7.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | - | €50,000 | +€50,000 | |
| Issued capital | 100 | - | €50,000 | +€50,000 | |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | - | €5,000 | +€5,000 | |
| Reserves not available under the articles | 1311 | €5,000 | - | -€5,000 | |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,905 | €15,883 | +€5,978 | +60.4% |
| Amounts payable | 17/49 | €65,666 | €90,267 | +€24,601 | +37.5% |
| Amounts payable after more than one year | 17 | €17,500 | €11,898 | -€5,603 | -32.0% |
| Financial debts | 170/4 | €17,500 | €11,898 | -€5,603 | -32.0% |
| Amounts payable within one year | 42/48 | €48,165 | €78,370 | +€30,204 | +62.7% |
| Current portion of amounts payable after more than one year | 42 | €5,211 | €5,603 | +€392 | +7.5% |
| Trade debts | 44 | €26,207 | €58,416 | +€32,210 | +122.9% |
| Suppliers | 440/4 | €26,207 | €58,416 | +€32,210 | +122.9% |
| Taxes, remuneration and social security | 45 | €16,748 | €14,350 | -€2,398 | -14.3% |
| Taxes | 450/3 | €14,027 | €11,292 | -€2,735 | -19.5% |
| Remuneration and social security | 454/9 | €2,721 | €3,058 | +€337 | +12.4% |
| Remuneration, social security and pensions | 62 | €20,047 | €21,261 | +€1,214 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,278 | €5,493 | +€215 | +4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,104 | - | -€1,104 | |
| Other operating charges | 640/8 | €1,633 | €2,674 | +€1,041 | +63.7% |
| Non-recurring operating charges | 66A | - | €1,663 | +€1,663 | |
| Gross operating margin | 9900 | €19,767 | €41,254 | +€21,488 | +108.7% |
| Operating profit (loss) | 9901 | -€8,295 | €10,164 | +€18,459 | |
| Financial income | 75/76B | €928 | €356 | -€572 | -61.6% |
| Recurring financial income | 75 | €928 | €356 | -€572 | -61.6% |
| Financial charges | 65/66B | €4,236 | €4,385 | +€149 | +3.5% |
| Recurring financial charges | 65 | €4,236 | €4,385 | +€149 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,603 | €6,135 | +€17,738 | |
| Income taxes | 67/77 | €127 | €157 | +€30 | +24.1% |
| Profit (loss) for the period | 9904 | -€11,730 | €5,978 | +€17,708 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,730 | €5,978 | +€17,708 |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.