NALO BOUW: 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.
NALO BOUW
Largest movements
- Cash +€25,478
up €25,478 (+36.5%), from €69,888 to €95,366
mainly Net result for the year (+€33,539) and Depreciation (+€1,130)
- Receivables within one year +€6,983
up €6,983 (+10.2%), from €68,504 to €75,488
of which Trade receivables: +€6,636
- Reserves +€33,539
up €33,539 (+22.3%), from €150,388 to €183,927
- Gross operating margin +€36,045
up €36,045 (+232%), from €15,567 to €51,612
- Taxes +€10,478
up €10,478 (+279%), from €3,758 to €14,236
- Financial income +€1,539
up €1,539 (+262%), from €587 to €2,126
- Financial charges -€822
down €822 (-19.5%), from €4,221 to €3,399
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 | €202,001 | €234,522 | +€32,521 | +16.1% |
| Fixed assets | 21/28 | €2,817 | €1,687 | -€1,130 | -40.1% |
| Tangible fixed assets | 22/27 | €2,817 | €1,687 | -€1,130 | -40.1% |
| Furniture and vehicles | 24 | €2,817 | €1,687 | -€1,130 | -40.1% |
| Current assets | 29/58 | €199,183 | €232,835 | +€33,651 | +16.9% |
| Amounts receivable within one year | 40/41 | €68,504 | €75,488 | +€6,983 | +10.2% |
| Trade receivables | 40 | €68,504 | €75,140 | +€6,636 | +9.7% |
| Other amounts receivable | 41 | - | €348 | +€348 | |
| Current investments | 50/53 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,888 | €95,366 | +€25,478 | +36.5% |
| Deferred charges and accrued income | 490/1 | €791 | €1,981 | +€1,190 | +150% |
| Total equity and liabilities | 10/49 | €202,001 | €234,522 | +€32,521 | +16.1% |
| Equity | 10/15 | €185,235 | €218,774 | +€33,539 | +18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,388 | €183,927 | +€33,539 | +22.3% |
| Distributable reserves | 133 | €150,388 | €183,927 | +€33,539 | +22.3% |
| Profit (loss) carried forward | 14 | €16,247 | €16,247 | = | 0.0% |
| Amounts payable | 17/49 | €16,766 | €15,748 | -€1,018 | -6.1% |
| Amounts payable within one year | 42/48 | €16,766 | €15,748 | -€1,018 | -6.1% |
| Trade debts | 44 | €1,205 | €593 | -€612 | -50.8% |
| Suppliers | 440/4 | €1,205 | €593 | -€612 | -50.8% |
| Taxes, remuneration and social security | 45 | €7,630 | €6,616 | -€1,014 | -13.3% |
| Taxes | 450/3 | €7,630 | €6,616 | -€1,014 | -13.3% |
| Other amounts payable | 47/48 | €7,931 | €8,539 | +€608 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,130 | €1,130 | = | 0.0% |
| Other operating charges | 640/8 | €1,340 | €1,380 | +€41 | +3.0% |
| Non-recurring operating charges | 66A | €53 | €53 | = | 0.0% |
| Gross operating margin | 9900 | €15,567 | €51,612 | +€36,045 | +232% |
| Operating profit (loss) | 9901 | €13,044 | €49,048 | +€36,004 | +276% |
| Financial income | 75/76B | €587 | €2,126 | +€1,539 | +262% |
| Recurring financial income | 75 | €587 | €2,126 | +€1,539 | +262% |
| Financial charges | 65/66B | €4,221 | €3,399 | -€822 | -19.5% |
| Recurring financial charges | 65 | €4,221 | €3,399 | -€822 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €9,410 | €47,775 | +€38,365 | +408% |
| Income taxes | 67/77 | €3,758 | €14,236 | +€10,478 | +279% |
| Profit (loss) for the period | 9904 | €5,652 | €33,539 | +€27,887 | +493% |
| Profit (loss) for the period to be appropriated | 9905 | €5,652 | €33,539 | +€27,887 | +493% |
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 19 October 2026 via checked.be.