NALIM: 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.
NALIM
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+2407.2%), from €76,183 to €1.9m
- Deferred charges and accrued income +€295,966
up €295,966 (+143.0%), from €206,921 to €502,887
- Stocks and contracts +€107,870
up €107,870 (+20.9%), from €515,249 to €623,118
- Intangible fixed assets -€106,717
down €106,717 (-17.6%), from €605,084 to €498,367
- Cash -€104,341
down €104,341 (-16.3%), from €641,915 to €537,574
mainly Investment in fixed assets (net) (-€2.0m) and Net result for the year (-€302,427)
- Debts after one year +€1.6m
up €1.6m (+299.1%), from €525,777 to €2.1m
- Profit (loss) carried forward -€302,427
down €302,427 (-409.4%), from -€73,863 to -€376,290
- Current portion of long-term debt +€243,592
up €243,592 (+334.8%), from €72,750 to €316,343
- Accrued charges and deferred income +€189,907
new in 2025: €189,907
- Contributions +€132,000
up €132,000 (+88.0%), from €150,000 to €282,000
- Gross operating margin -€496,612
down €496,612 (-34.6%), from €1.4m to €940,426
- Staff costs -€255,540
down €255,540 (-22.1%), from €1.2m to €898,241
- Depreciation +€67,827
up €67,827 (+40.9%), from €165,817 to €233,645
- Other operating charges -€66,331
down €66,331 (-67.3%), from €98,614 to €32,283
- Financial income +€16,037
new in 2025: €16,037
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 | €2,139,795 | €4,188,128 | +€2.0m | +95.7% |
| Formation expenses | 20 | €29,188 | €32,990 | +€3,802 | +13.0% |
| Fixed assets | 21/28 | €681,267 | €2,408,451 | +€1.7m | +253.5% |
| Intangible fixed assets | 21 | €605,084 | €498,367 | -€106,717 | -17.6% |
| Tangible fixed assets | 22/27 | €76,183 | €1,910,083 | +€1.8m | +2407.2% |
| Land and buildings | 22 | - | €83,453 | +€83,453 | |
| Plant, machinery and equipment | 23 | €76,183 | €553,251 | +€477,069 | +626.2% |
| Furniture and vehicles | 24 | - | €762,627 | +€762,627 | |
| Other tangible fixed assets | 26 | - | €510,751 | +€510,751 | |
| Current assets | 29/58 | €1,429,340 | €1,746,687 | +€317,347 | +22.2% |
| Stocks and contracts in progress | 3 | €515,249 | €623,118 | +€107,870 | +20.9% |
| Stocks | 30/36 | €515,249 | €623,118 | +€107,870 | +20.9% |
| Amounts receivable within one year | 40/41 | €65,256 | €83,108 | +€17,852 | +27.4% |
| Trade receivables | 40 | €63,392 | €21,822 | -€41,570 | -65.6% |
| Other amounts receivable | 41 | €1,864 | €61,287 | +€59,423 | +3187.7% |
| Cash at bank and in hand | 54/58 | €641,915 | €537,574 | -€104,341 | -16.3% |
| Deferred charges and accrued income | 490/1 | €206,921 | €502,887 | +€295,966 | +143.0% |
| Total equity and liabilities | 10/49 | €2,139,795 | €4,188,128 | +€2.0m | +95.7% |
| Equity | 10/15 | €76,137 | -€94,290 | -€170,427 | |
| Contributions | 10/11 | €150,000 | €282,000 | +€132,000 | +88.0% |
| Capital | 10 | €150,000 | €282,000 | +€132,000 | +88.0% |
| Issued capital | 100 | €150,000 | €282,000 | +€132,000 | +88.0% |
| Profit (loss) carried forward | 14 | -€73,863 | -€376,290 | -€302,427 | -409.4% |
| Amounts payable | 17/49 | €2,063,658 | €4,282,418 | +€2.2m | +107.5% |
| Amounts payable after more than one year | 17 | €525,777 | €2,098,364 | +€1.6m | +299.1% |
| Financial debts | 170/4 | €525,777 | €2,098,364 | +€1.6m | +299.1% |
| Amounts payable within one year | 42/48 | €1,537,881 | €1,994,148 | +€456,266 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €72,750 | €316,343 | +€243,592 | +334.8% |
| Trade debts | 44 | €1,273,294 | €1,368,288 | +€94,994 | +7.5% |
| Suppliers | 440/4 | €1,273,294 | €1,368,288 | +€94,994 | +7.5% |
| Taxes, remuneration and social security | 45 | €187,142 | €174,580 | -€12,562 | -6.7% |
| Taxes | 450/3 | €15,782 | €5,985 | -€9,796 | -62.1% |
| Remuneration and social security | 454/9 | €171,361 | €168,595 | -€2,766 | -1.6% |
| Other amounts payable | 47/48 | €4,695 | €134,937 | +€130,243 | +2774.2% |
| Accrued charges and deferred income | 492/3 | - | €189,907 | +€189,907 | |
| Non-recurring operating income | 76A | €133,510 | €475,542 | +€342,032 | +256.2% |
| Remuneration, social security and pensions | 62 | €1,153,781 | €898,241 | -€255,540 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,817 | €233,645 | +€67,827 | +40.9% |
| Other operating charges | 640/8 | €98,614 | €32,283 | -€66,331 | -67.3% |
| Non-recurring operating charges | 66A | €667 | - | -€667 | |
| Gross operating margin | 9900 | €1,437,038 | €940,426 | -€496,612 | -34.6% |
| Operating profit (loss) | 9901 | €18,158 | -€223,744 | -€241,902 | |
| Financial income | 75/76B | - | €16,037 | +€16,037 | |
| Recurring financial income | 75 | - | €16,037 | +€16,037 | |
| Financial charges | 65/66B | €91,853 | €94,616 | +€2,763 | +3.0% |
| Recurring financial charges | 65 | €91,853 | €94,616 | +€2,763 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | -€73,695 | -€302,323 | -€228,628 | -310.2% |
| Income taxes | 67/77 | €168 | €105 | -€64 | -37.8% |
| Profit (loss) for the period | 9904 | -€73,863 | -€302,427 | -€228,564 | -309.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,863 | -€302,427 | -€228,564 | -309.4% |
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 7 October 2026 via checked.be.