NALU: 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.
NALU
Largest movements
- Receivables within one year +€53,173
up €53,173 (+585.9%), from €9,075 to €62,248
of which Other amounts receivable: +€37,673
- Tangible fixed assets -€23,055
no longer reported in 2025 (was €23,055)
- Cash +€10,515
up €10,515 (+13.2%), from €79,842 to €90,356
mainly Net result for the year (+€45,533) and Tax, wage and social debts (+€26,072)
- Reserves +€45,533
up €45,533 (+266.9%), from €17,057 to €62,590
- Other debts -€30,606
no longer reported in 2025 (was €30,606)
- Tax, wage and social debts +€26,072
up €26,072 (+241.1%), from €10,812 to €36,884
- Gross operating margin +€38,218
up €38,218 (+141.4%), from €27,026 to €65,244
- Taxes +€12,093
up €12,093 (+184.4%), from €6,559 to €18,652
- Depreciation -€2,681
no longer reported in 2025 (was €2,681)
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 | €111,971 | €152,604 | +€40,633 | +36.3% |
| Fixed assets | 21/28 | €23,055 | - | -€23,055 | |
| Tangible fixed assets | 22/27 | €23,055 | - | -€23,055 | |
| Furniture and vehicles | 24 | €23,055 | - | -€23,055 | |
| Current assets | 29/58 | €88,917 | €152,604 | +€63,688 | +71.6% |
| Amounts receivable within one year | 40/41 | €9,075 | €62,248 | +€53,173 | +585.9% |
| Trade receivables | 40 | €9,075 | €24,575 | +€15,500 | +170.8% |
| Other amounts receivable | 41 | - | €37,673 | +€37,673 | |
| Cash at bank and in hand | 54/58 | €79,842 | €90,356 | +€10,515 | +13.2% |
| Total equity and liabilities | 10/49 | €111,971 | €152,604 | +€40,633 | +36.3% |
| Equity | 10/15 | €67,057 | €112,590 | +€45,533 | +67.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €17,057 | €62,590 | +€45,533 | +266.9% |
| Distributable reserves | 133 | €17,057 | €62,590 | +€45,533 | +266.9% |
| Amounts payable | 17/49 | €44,914 | €40,014 | -€4,900 | -10.9% |
| Amounts payable within one year | 42/48 | €44,914 | €40,014 | -€4,900 | -10.9% |
| Trade debts | 44 | €3,497 | €3,131 | -€366 | -10.5% |
| Suppliers | 440/4 | €3,497 | €3,131 | -€366 | -10.5% |
| Taxes, remuneration and social security | 45 | €10,812 | €36,884 | +€26,072 | +241.1% |
| Taxes | 450/3 | €10,812 | €36,884 | +€26,072 | +241.1% |
| Other amounts payable | 47/48 | €30,606 | - | -€30,606 | |
| Non-recurring operating income | 76A | - | €11,945 | +€11,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,681 | - | -€2,681 | |
| Other operating charges | 640/8 | €679 | €641 | -€38 | -5.6% |
| Gross operating margin | 9900 | €27,026 | €65,244 | +€38,218 | +141.4% |
| Operating profit (loss) | 9901 | €23,667 | €64,603 | +€40,936 | +173.0% |
| Financial charges | 65/66B | €51 | €418 | +€367 | +722.8% |
| Recurring financial charges | 65 | €51 | €418 | +€367 | +722.8% |
| Profit (loss) for the period before taxes | 9903 | €23,616 | €64,185 | +€40,569 | +171.8% |
| Income taxes | 67/77 | €6,559 | €18,652 | +€12,093 | +184.4% |
| Profit (loss) for the period | 9904 | €17,057 | €45,533 | +€28,476 | +166.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,057 | €45,533 | +€28,476 | +166.9% |
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 10 October 2026 via checked.be.