NAM&SON: 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&SON
Largest movements
- Tangible fixed assets +€352,414
up €352,414 (+298%), from €118,330 to €470,744
of which Land and buildings: +€357,235
- Receivables within one year +€303,331
up €303,331 (+30.6%), from €992,890 to €1.3m
of which Trade receivables: +€289,630
- Cash +€101,722
up €101,722 (+41.6%), from €244,802 to €346,524
mainly Trade debts (+€576,959) and Net result for the year (+€177,195)
- Trade debts +€576,959
up €576,959 (+106%), from €544,586 to €1.1m
- Reserves +€177,195
up €177,195 (+57.2%), from €309,963 to €487,158
- Financial charges +€191,728
up €191,728 (+118%), from €162,222 to €353,951
- Gross operating margin +€158,278
up €158,278 (+51.5%), from €307,134 to €465,412
- Taxes -€15,083
down €15,083 (-14.7%), from €102,575 to €87,491
- Depreciation +€5,933
up €5,933 (+20.9%), from €28,336 to €34,269
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 | €1,359,065 | €2,113,514 | +€754,449 | +55.5% |
| Fixed assets | 21/28 | €118,330 | €470,744 | +€352,414 | +298% |
| Tangible fixed assets | 22/27 | €118,330 | €470,744 | +€352,414 | +298% |
| Land and buildings | 22 | €51,878 | €409,113 | +€357,235 | +689% |
| Plant, machinery and equipment | 23 | €7,749 | €6,849 | -€901 | -11.6% |
| Furniture and vehicles | 24 | €47,981 | €44,061 | -€3,920 | -8.2% |
| Other tangible fixed assets | 26 | €10,721 | €10,721 | = | 0.0% |
| Current assets | 29/58 | €1,240,735 | €1,642,771 | +€402,035 | +32.4% |
| Amounts receivable within one year | 40/41 | €992,890 | €1,296,221 | +€303,331 | +30.6% |
| Trade receivables | 40 | €984,221 | €1,273,850 | +€289,630 | +29.4% |
| Other amounts receivable | 41 | €8,669 | €22,371 | +€13,701 | +158% |
| Cash at bank and in hand | 54/58 | €244,802 | €346,524 | +€101,722 | +41.6% |
| Deferred charges and accrued income | 490/1 | €3,044 | €26 | -€3,018 | -99.2% |
| Total equity and liabilities | 10/49 | €1,359,065 | €2,113,514 | +€754,449 | +55.5% |
| Equity | 10/15 | €709,963 | €887,158 | +€177,195 | +25.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €309,963 | €487,158 | +€177,195 | +57.2% |
| Distributable reserves | 133 | €309,963 | €487,158 | +€177,195 | +57.2% |
| Amounts payable | 17/49 | €649,102 | €1,226,357 | +€577,255 | +88.9% |
| Amounts payable within one year | 42/48 | €649,102 | €1,226,357 | +€577,255 | +88.9% |
| Trade debts | 44 | €544,586 | €1,121,544 | +€576,959 | +106% |
| Suppliers | 440/4 | €544,586 | €1,121,544 | +€576,959 | +106% |
| Taxes, remuneration and social security | 45 | €104,516 | €104,812 | +€296 | +0.3% |
| Taxes | 450/3 | €102,575 | €104,812 | +€2,237 | +2.2% |
| Remuneration and social security | 454/9 | €1,942 | - | -€1,942 | |
| Non-recurring operating income | 76A | - | €12,295 | +€12,295 | |
| Remuneration, social security and pensions | 62 | €4,208 | €7,969 | +€3,761 | +89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,336 | €34,269 | +€5,933 | +20.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €68 | +€68 | |
| Other operating charges | 640/8 | €516 | €1,488 | +€972 | +188% |
| Gross operating margin | 9900 | €307,134 | €465,412 | +€158,278 | +51.5% |
| Operating profit (loss) | 9901 | €274,074 | €421,619 | +€147,545 | +53.8% |
| Financial income | 75/76B | €199,441 | €197,018 | -€2,424 | -1.2% |
| Recurring financial income | 75 | €199,441 | €197,018 | -€2,424 | -1.2% |
| Financial charges | 65/66B | €162,222 | €353,951 | +€191,728 | +118% |
| Recurring financial charges | 65 | €162,222 | €353,951 | +€191,728 | +118% |
| Profit (loss) for the period before taxes | 9903 | €311,293 | €264,686 | -€46,607 | -15.0% |
| Income taxes | 67/77 | €102,575 | €87,491 | -€15,083 | -14.7% |
| Profit (loss) for the period | 9904 | €208,718 | €177,195 | -€31,524 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €208,718 | €177,195 | -€31,524 | -15.1% |
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 13 October 2026 via checked.be.