NAMAHN: 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.
NAMAHN
Largest movements
- Tangible fixed assets -€46,181
down €46,181 (-9.3%), from €497,457 to €451,276
of which Land and buildings: -€34,696
- Receivables within one year -€27,766
down €27,766 (-12.7%), from €218,004 to €190,239
of which Trade receivables: -€31,984
- Deferred charges and accrued income -€15,524
down €15,524 (-47.3%), from €32,826 to €17,301
- Profit (loss) carried forward -€251,659
down €251,659 (-46.2%), from -€545,186 to -€796,844
- Other debts +€166,739
up €166,739 (+39.1%), from €426,862 to €593,601
- Short-term financial debts +€69,397
up €69,397 (+116.0%), from €59,832 to €129,229
- Tax, wage and social debts -€63,491
down €63,491 (-69.2%), from €91,759 to €28,269
of which Remuneration and social security: -€56,861
- Debts after one year -€30,789
down €30,789 (-15.0%), from €204,962 to €174,173
- Staff costs -€405,569
down €405,569 (-41.2%), from €983,447 to €577,878
- Gross operating margin -€260,757
down €260,757 (-36.9%), from €706,610 to €445,853
- Depreciation -€16,044
down €16,044 (-21.2%), from €75,681 to €59,637
- Financial charges +€13,762
up €13,762 (+52.9%), from €26,028 to €39,789
of which Financial charges: +€16,862
- Write-downs -€9,666
down €9,666 (-100.0%), from €9,666 to €0
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 | €781,928 | €678,729 | -€103,199 | -13.2% |
| Fixed assets | 21/28 | €509,340 | €456,861 | -€52,479 | -10.3% |
| Intangible fixed assets | 21 | €10,883 | €4,585 | -€6,298 | -57.9% |
| Tangible fixed assets | 22/27 | €497,457 | €451,276 | -€46,181 | -9.3% |
| Land and buildings | 22 | €466,243 | €431,548 | -€34,696 | -7.4% |
| Plant, machinery and equipment | 23 | €4,426 | €4,805 | +€379 | +8.6% |
| Furniture and vehicles | 24 | €23,648 | €14,924 | -€8,724 | -36.9% |
| Leasing and similar rights | 25 | €3,139 | €0 | -€3,139 | -100.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €272,587 | €221,867 | -€50,720 | -18.6% |
| Stocks and contracts in progress | 3 | €13,903 | €13,903 | = | 0.0% |
| Stocks | 30/36 | €13,903 | €13,903 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €218,004 | €190,239 | -€27,766 | -12.7% |
| Trade receivables | 40 | €213,953 | €181,969 | -€31,984 | -14.9% |
| Other amounts receivable | 41 | €4,051 | €8,269 | +€4,218 | +104.1% |
| Cash at bank and in hand | 54/58 | €7,854 | €424 | -€7,430 | -94.6% |
| Deferred charges and accrued income | 490/1 | €32,826 | €17,301 | -€15,524 | -47.3% |
| Total equity and liabilities | 10/49 | €781,928 | €678,729 | -€103,199 | -13.2% |
| Equity | 10/15 | -€273,194 | -€526,267 | -€253,073 | -92.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €237,494 | €237,494 | = | 0.0% |
| Distributable reserves | 133 | €237,494 | €237,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,186 | -€796,844 | -€251,659 | -46.2% |
| Investment grants | 15 | €14,498 | €13,083 | -€1,414 | -9.8% |
| Amounts payable | 17/49 | €1,055,121 | €1,204,995 | +€149,874 | +14.2% |
| Amounts payable after more than one year | 17 | €204,962 | €174,173 | -€30,789 | -15.0% |
| Financial debts | 170/4 | €204,962 | €174,173 | -€30,789 | -15.0% |
| Amounts payable within one year | 42/48 | €849,884 | €1,030,822 | +€180,938 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €42,749 | €37,096 | -€5,652 | -13.2% |
| Financial debts | 43 | €59,832 | €129,229 | +€69,397 | +116.0% |
| Credit institutions | 430/8 | €59,832 | €129,229 | +€69,397 | +116.0% |
| Trade debts | 44 | €196,688 | €191,617 | -€5,071 | -2.6% |
| Suppliers | 440/4 | €196,688 | €191,617 | -€5,071 | -2.6% |
| Advances received on contracts in progress | 46 | €31,993 | €51,010 | +€19,017 | +59.4% |
| Taxes, remuneration and social security | 45 | €91,759 | €28,269 | -€63,491 | -69.2% |
| Taxes | 450/3 | €17,736 | €11,107 | -€6,629 | -37.4% |
| Remuneration and social security | 454/9 | €74,023 | €17,162 | -€56,861 | -76.8% |
| Other amounts payable | 47/48 | €426,862 | €593,601 | +€166,739 | +39.1% |
| Accrued charges and deferred income | 492/3 | €275 | €0 | -€275 | -100.0% |
| Non-recurring operating income | 76A | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €983,447 | €577,878 | -€405,569 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,681 | €59,637 | -€16,044 | -21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,666 | €0 | -€9,666 | -100.0% |
| Other operating charges | 640/8 | €20,239 | €20,771 | +€532 | +2.6% |
| Non-recurring operating charges | 66A | - | €670 | +€670 | |
| Gross operating margin | 9900 | €706,610 | €445,853 | -€260,757 | -36.9% |
| Operating profit (loss) | 9901 | -€382,423 | -€213,103 | +€169,320 | +44.3% |
| Financial income | 75/76B | €3,634 | €1,606 | -€2,028 | -55.8% |
| Recurring financial income | 75 | €3,634 | €1,606 | -€2,028 | -55.8% |
| Financial charges | 65/66B | €26,028 | €39,789 | +€13,762 | +52.9% |
| Recurring financial charges | 65 | €22,928 | €39,789 | +€16,862 | +73.5% |
| Non-recurring financial charges | 66B | €3,100 | €0 | -€3,100 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€404,817 | -€251,286 | +€153,531 | +37.9% |
| Income taxes | 67/77 | €345 | €372 | +€27 | +7.9% |
| Profit (loss) for the period | 9904 | -€405,163 | -€251,659 | +€153,504 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€405,163 | -€251,659 | +€153,504 | +37.9% |
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.