NAM PROPERTY: 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 PROPERTY
Largest movements
- Cash +€110,272
up €110,272 (+98.6%), from €111,836 to €222,109
mainly Net result for the year (+€171,813) and Depreciation (+€67,904)
- Tangible fixed assets -€76,681
down €76,681 (-6.5%), from €1.2m to €1.1m
of which Land and buildings: -€98,730
- Receivables within one year +€73,605
up €73,605 (+1,548%), from €4,755 to €78,360
of which Trade receivables: +€59,995
- Reserves +€171,813
up €171,813 (+36.2%), from €474,482 to €646,295
of which Distributable reserves: +€130,563
- Debts after one year -€133,822
down €133,822 (-18.6%), from €718,332 to €584,510
of which Financial debts: -€133,822
- Tax, wage and social debts +€55,209
up €55,209 (+193%), from €28,541 to €83,750
of which Taxes: +€46,095
- Gross operating margin +€124,185
up €124,185 (+48.8%), from €254,479 to €378,664
- Financial income +€54,980
up €54,980 (+245,117%), from €22 to €55,002
of which Non-recurring financial income: +€55,000
- Taxes +€38,236
up €38,236 (+193%), from €19,764 to €58,000
- Depreciation -€26,452
down €26,452 (-28.0%), from €94,356 to €67,904
- Staff costs +€17,836
up €17,836 (+26.4%), from €67,629 to €85,465
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 | €1,289,204 | €1,395,736 | +€106,532 | +8.3% |
| Fixed assets | 21/28 | €1,171,948 | €1,095,267 | -€76,681 | -6.5% |
| Tangible fixed assets | 22/27 | €1,171,682 | €1,095,001 | -€76,681 | -6.5% |
| Land and buildings | 22 | €1,164,743 | €1,066,013 | -€98,730 | -8.5% |
| Furniture and vehicles | 24 | €6,939 | €28,988 | +€22,049 | +318% |
| Financial fixed assets | 28 | €266 | €266 | = | 0.0% |
| Current assets | 29/58 | €117,257 | €300,469 | +€183,213 | +156% |
| Amounts receivable within one year | 40/41 | €4,755 | €78,360 | +€73,605 | +1,548% |
| Trade receivables | 40 | €4,742 | €64,736 | +€59,995 | +1,265% |
| Other amounts receivable | 41 | €14 | €13,624 | +€13,611 | +99,419% |
| Cash at bank and in hand | 54/58 | €111,836 | €222,109 | +€110,272 | +98.6% |
| Deferred charges and accrued income | 490/1 | €665 | €0 | -€665 | -100% |
| Total equity and liabilities | 10/49 | €1,289,204 | €1,395,736 | +€106,532 | +8.3% |
| Equity | 10/15 | €481,327 | €653,140 | +€171,813 | +35.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €474,482 | €646,295 | +€171,813 | +36.2% |
| Tax-exempt reserves | 132 | - | €41,250 | +€41,250 | |
| Distributable reserves | 133 | €474,482 | €605,045 | +€130,563 | +27.5% |
| Profit (loss) carried forward | 14 | €644 | €644 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €13,750 | +€13,750 | |
| Deferred taxes | 168 | - | €13,750 | +€13,750 | |
| Amounts payable | 17/49 | €807,877 | €728,847 | -€79,031 | -9.8% |
| Amounts payable after more than one year | 17 | €718,332 | €584,510 | -€133,822 | -18.6% |
| Financial debts | 170/4 | €716,132 | €582,310 | -€133,822 | -18.7% |
| Other amounts payable | 178/9 | €2,200 | €2,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,545 | €144,337 | +€54,791 | +61.2% |
| Current portion of amounts payable after more than one year | 42 | €54,781 | €46,939 | -€7,843 | -14.3% |
| Trade debts | 44 | €3,050 | €11,948 | +€8,898 | +292% |
| Suppliers | 440/4 | €3,050 | €11,948 | +€8,898 | +292% |
| Taxes, remuneration and social security | 45 | €28,541 | €83,750 | +€55,209 | +193% |
| Taxes | 450/3 | €16,571 | €62,666 | +€46,095 | +278% |
| Remuneration and social security | 454/9 | €11,970 | €21,084 | +€9,114 | +76.1% |
| Other amounts payable | 47/48 | €3,173 | €1,700 | -€1,473 | -46.4% |
| Remuneration, social security and pensions | 62 | €67,629 | €85,465 | +€17,836 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,356 | €67,904 | -€26,452 | -28.0% |
| Other operating charges | 640/8 | €10,284 | €16,665 | +€6,380 | +62.0% |
| Gross operating margin | 9900 | €254,479 | €378,664 | +€124,185 | +48.8% |
| Operating profit (loss) | 9901 | €82,210 | €208,631 | +€126,420 | +154% |
| Financial income | 75/76B | €22 | €55,002 | +€54,980 | +245,117% |
| Recurring financial income | 75 | €22 | €2 | -€20 | -90.7% |
| Non-recurring financial income | 76B | - | €55,000 | +€55,000 | |
| Financial charges | 65/66B | €17,947 | €20,070 | +€2,123 | +11.8% |
| Recurring financial charges | 65 | €17,947 | €20,070 | +€2,123 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €64,286 | €243,563 | +€179,277 | +279% |
| Transfer to deferred taxes | 680 | - | €13,750 | +€13,750 | |
| Income taxes | 67/77 | €19,764 | €58,000 | +€38,236 | +193% |
| Profit (loss) for the period | 9904 | €44,522 | €171,813 | +€127,291 | +286% |
| Transfer to tax-exempt reserves | 689 | - | €41,250 | +€41,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,522 | €130,563 | +€86,041 | +193% |
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 22 October 2026 via checked.be.