NAMAR: what changed
Two fiscal 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.
NAMAR
Largest movements
- Current investments +€125,000
new in 2024: €125,000
- Cash -€86,822
down €86,822 (-54.4%), from €159,676 to €72,854
mainly Current investments (-€125,000) and Contributions, distributions and other (-€40,402)
- Receivables after one year -€43,241
down €43,241 (-30.6%), from €141,257 to €98,017
- Receivables within one year -€27,346
down €27,346 (-38.6%), from €70,883 to €43,538
of which Other amounts receivable: -€28,217
- Tangible fixed assets -€19,135
down €19,135 (-26.7%), from €71,641 to €52,506
of which Plant, machinery and equipment: -€9,635
- Other debts -€34,892
down €34,892 (-43.0%), from €81,051 to €46,159
- Reserves -€13,818
down €13,818 (-4.9%), from €279,780 to €265,963
of which Distributable reserves: -€13,818
- Provisions -€8,000
down €8,000 (-100.0%), from €8,000 to €0
- Staff costs -€15,190
down €15,190 (-51.3%), from €29,636 to €14,447
- Taxes +€8,796
up €8,796, from -€596 to €8,200
- Other operating charges -€4,044
down €4,044 (-60.2%), from €6,714 to €2,671
- Provisions +€3,881
up €3,881 (+32.7%), from -€11,881 to -€8,000
- Gross operating margin -€3,018
down €3,018 (-4.6%), from €65,012 to €61,995
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €454,859 | €401,438 | -€53,422 | -11.7% |
| Fixed assets | 21/28 | €71,641 | €52,506 | -€19,135 | -26.7% |
| Tangible fixed assets | 22/27 | €71,641 | €52,506 | -€19,135 | -26.7% |
| Plant, machinery and equipment | 23 | €42,036 | €32,401 | -€9,635 | -22.9% |
| Furniture and vehicles | 24 | €29,605 | €20,105 | -€9,500 | -32.1% |
| Current assets | 29/58 | €383,218 | €348,931 | -€34,287 | -8.9% |
| Amounts receivable after more than one year | 29 | €141,257 | €98,017 | -€43,241 | -30.6% |
| Other amounts receivable | 291 | €141,257 | €98,017 | -€43,241 | -30.6% |
| Stocks and contracts in progress | 3 | €2,945 | €2,648 | -€297 | -10.1% |
| Stocks | 30/36 | €2,945 | €2,648 | -€297 | -10.1% |
| Amounts receivable within one year | 40/41 | €70,883 | €43,538 | -€27,346 | -38.6% |
| Trade receivables | 40 | - | €871 | +€871 | |
| Other amounts receivable | 41 | €70,883 | €42,666 | -€28,217 | -39.8% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €159,676 | €72,854 | -€86,822 | -54.4% |
| Deferred charges and accrued income | 490/1 | €8,457 | €6,875 | -€1,582 | -18.7% |
| Total equity and liabilities | 10/49 | €454,859 | €401,438 | -€53,422 | -11.7% |
| Equity | 10/15 | €341,280 | €327,463 | -€13,818 | -4.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €279,780 | €265,963 | -€13,818 | -4.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €273,630 | €259,813 | -€13,818 | -5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €8,000 | €0 | -€8,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €8,000 | €0 | -€8,000 | -100.0% |
| Major repairs and maintenance | 162 | €8,000 | €0 | -€8,000 | -100.0% |
| Amounts payable | 17/49 | €105,579 | €73,975 | -€31,604 | -29.9% |
| Amounts payable within one year | 42/48 | €105,579 | €73,975 | -€31,604 | -29.9% |
| Trade debts | 44 | €17,312 | €17,168 | -€144 | -0.8% |
| Suppliers | 440/4 | €17,312 | €17,168 | -€144 | -0.8% |
| Taxes, remuneration and social security | 45 | €7,216 | €10,647 | +€3,432 | +47.6% |
| Taxes | 450/3 | €405 | €7,900 | +€7,495 | +1850.5% |
| Remuneration and social security | 454/9 | €6,811 | €2,747 | -€4,063 | -59.7% |
| Other amounts payable | 47/48 | €81,051 | €46,159 | -€34,892 | -43.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,636 | €14,447 | -€15,190 | -51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,940 | €20,964 | -€976 | -4.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€11,881 | -€8,000 | +€3,881 | +32.7% |
| Other operating charges | 640/8 | €6,714 | €2,671 | -€4,044 | -60.2% |
| Gross operating margin | 9900 | €65,012 | €61,995 | -€3,018 | -4.6% |
| Operating profit (loss) | 9901 | €18,603 | €31,914 | +€13,311 | +71.6% |
| Financial income | 75/76B | €4,102 | €3,259 | -€843 | -20.5% |
| Recurring financial income | 75 | €4,102 | €3,259 | -€843 | -20.5% |
| Financial charges | 65/66B | €566 | €388 | -€178 | -31.4% |
| Recurring financial charges | 65 | €566 | €388 | -€178 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €22,139 | €34,785 | +€12,646 | +57.1% |
| Income taxes | 67/77 | -€596 | €8,200 | +€8,796 | |
| Profit (loss) for the period | 9904 | €22,735 | €26,585 | +€3,850 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,735 | €26,585 | +€3,850 | +16.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.