NAM KING: 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.
NAM KING
Largest movements
- Cash -€81,333
down €81,333 (-52.7%), from €154,426 to €73,093
mainly Receivables within one year (-€70,069) and Investment in fixed assets (net) (-€14,440)
- Receivables within one year +€70,069
up €70,069 (+37.6%), from €186,505 to €256,574
of which Other amounts receivable: +€57,022
- Deferred charges and accrued income +€14,223
new in 2025: €14,223
- Tangible fixed assets +€9,746
up €9,746 (+26.5%), from €36,827 to €46,573
of which Plant, machinery and equipment: +€6,273
- Reserves +€18,968
up €18,968 (+9.1%), from €207,891 to €226,859
- Tax, wage and social debts -€13,387
down €13,387 (-17.9%), from €74,860 to €61,473
of which Taxes: -€11,791
- Trade debts +€8,611
up €8,611 (+9.7%), from €88,857 to €97,467
- Gross operating margin -€38,931
down €38,931 (-35.8%), from €108,724 to €69,793
- Taxes -€28,890
down €28,890 (-73.8%), from €39,124 to €10,234
- Staff costs +€8,514
up €8,514 (+44.0%), from €19,346 to €27,861
- Financial charges +€3,858
up €3,858 (+65.7%), from €5,870 to €9,728
- Depreciation +€2,671
up €2,671 (+132.0%), from €2,023 to €4,693
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 | €377,807 | €391,999 | +€14,191 | +3.8% |
| Fixed assets | 21/28 | €36,876 | €46,623 | +€9,746 | +26.4% |
| Tangible fixed assets | 22/27 | €36,827 | €46,573 | +€9,746 | +26.5% |
| Plant, machinery and equipment | 23 | €36,827 | €43,100 | +€6,273 | +17.0% |
| Furniture and vehicles | 24 | - | €3,473 | +€3,473 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €340,931 | €345,376 | +€4,445 | +1.3% |
| Stocks and contracts in progress | 3 | - | €1,486 | +€1,486 | |
| Stocks | 30/36 | - | €1,486 | +€1,486 | |
| Amounts receivable within one year | 40/41 | €186,505 | €256,574 | +€70,069 | +37.6% |
| Trade receivables | 40 | - | €13,047 | +€13,047 | |
| Other amounts receivable | 41 | €186,505 | €243,527 | +€57,022 | +30.6% |
| Cash at bank and in hand | 54/58 | €154,426 | €73,093 | -€81,333 | -52.7% |
| Deferred charges and accrued income | 490/1 | - | €14,223 | +€14,223 | |
| Total equity and liabilities | 10/49 | €377,807 | €391,999 | +€14,191 | +3.8% |
| Equity | 10/15 | €214,091 | €233,059 | +€18,968 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €207,891 | €226,859 | +€18,968 | +9.1% |
| Distributable reserves | 133 | €207,891 | €226,859 | +€18,968 | +9.1% |
| Amounts payable | 17/49 | €163,717 | €158,940 | -€4,777 | -2.9% |
| Amounts payable within one year | 42/48 | €163,717 | €158,940 | -€4,777 | -2.9% |
| Trade debts | 44 | €88,857 | €97,467 | +€8,611 | +9.7% |
| Suppliers | 440/4 | €88,857 | €97,467 | +€8,611 | +9.7% |
| Taxes, remuneration and social security | 45 | €74,860 | €61,473 | -€13,387 | -17.9% |
| Taxes | 450/3 | €71,282 | €59,491 | -€11,791 | -16.5% |
| Remuneration and social security | 454/9 | €3,578 | €1,982 | -€1,597 | -44.6% |
| Remuneration, social security and pensions | 62 | €19,346 | €27,861 | +€8,514 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,023 | €4,693 | +€2,671 | +132.0% |
| Other operating charges | 640/8 | €4,768 | €2,753 | -€2,015 | -42.3% |
| Non-recurring operating charges | 66A | €10,140 | - | -€10,140 | |
| Gross operating margin | 9900 | €108,724 | €69,793 | -€38,931 | -35.8% |
| Operating profit (loss) | 9901 | €72,448 | €34,486 | -€37,962 | -52.4% |
| Financial income | 75/76B | €2,609 | €4,444 | +€1,835 | +70.3% |
| Recurring financial income | 75 | €2,609 | €4,444 | +€1,835 | +70.3% |
| Financial charges | 65/66B | €5,870 | €9,728 | +€3,858 | +65.7% |
| Recurring financial charges | 65 | €5,870 | €9,728 | +€3,858 | +65.7% |
| Profit (loss) for the period before taxes | 9903 | €69,187 | €29,202 | -€39,985 | -57.8% |
| Income taxes | 67/77 | €39,124 | €10,234 | -€28,890 | -73.8% |
| Profit (loss) for the period | 9904 | €30,063 | €18,968 | -€11,095 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,063 | €18,968 | -€11,095 | -36.9% |
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 9 October 2026 via checked.be.