NAMAX: 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.
NAMAX
Largest movements
- Cash +€14,441
up €14,441 (+39.3%), from €36,761 to €51,202
mainly Advances received (+€13,545) and Net result for the year (+€11,668)
- Receivables within one year +€11,720
up €11,720 (+867.6%), from €1,351 to €13,071
of which Trade receivables: +€10,479
- Tangible fixed assets -€3,815
down €3,815 (-8.7%), from €43,797 to €39,982
- Advances received +€13,545
new in 2025: €13,545
- Profit (loss) carried forward +€11,668
up €11,668, from -€2,791 to €8,877
- Current portion of long-term debt -€1,864
no longer reported in 2025 (was €1,864)
- Trade debts -€1,580
down €1,580 (-27.4%), from €5,759 to €4,179
- Gross operating margin +€34,582
up €34,582 (+35.5%), from €97,501 to €132,083
- Staff costs +€11,027
up €11,027 (+10.8%), from €102,384 to €113,411
- Depreciation -€7,019
down €7,019 (-57.9%), from €12,120 to €5,101
- Financial charges -€2,746
down €2,746 (-83.9%), from €3,273 to €527
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 | €90,965 | €113,652 | +€22,687 | +24.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €43,797 | €39,982 | -€3,815 | -8.7% |
| Tangible fixed assets | 22/27 | €43,797 | €39,982 | -€3,815 | -8.7% |
| Land and buildings | 22 | €30,527 | €29,848 | -€679 | -2.2% |
| Plant, machinery and equipment | 23 | €5,694 | €4,423 | -€1,271 | -22.3% |
| Furniture and vehicles | 24 | €7,510 | €5,711 | -€1,800 | -24.0% |
| Leasing and similar rights | 25 | €65 | €0 | -€65 | -100.0% |
| Current assets | 29/58 | €47,168 | €73,670 | +€26,501 | +56.2% |
| Stocks and contracts in progress | 3 | €8,857 | €9,354 | +€497 | +5.6% |
| Stocks | 30/36 | €8,857 | €9,354 | +€497 | +5.6% |
| Amounts receivable within one year | 40/41 | €1,351 | €13,071 | +€11,720 | +867.6% |
| Trade receivables | 40 | €1,351 | €11,830 | +€10,479 | +775.7% |
| Other amounts receivable | 41 | - | €1,241 | +€1,241 | |
| Cash at bank and in hand | 54/58 | €36,761 | €51,202 | +€14,441 | +39.3% |
| Deferred charges and accrued income | 490/1 | €199 | €42 | -€157 | -78.9% |
| Total equity and liabilities | 10/49 | €90,965 | €113,652 | +€22,687 | +24.9% |
| Equity | 10/15 | €47,209 | €58,877 | +€11,668 | +24.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,791 | €8,877 | +€11,668 | |
| Amounts payable | 17/49 | €43,756 | €54,774 | +€11,019 | +25.2% |
| Amounts payable within one year | 42/48 | €43,756 | €54,774 | +€11,019 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €1,864 | - | -€1,864 | |
| Trade debts | 44 | €5,759 | €4,179 | -€1,580 | -27.4% |
| Suppliers | 440/4 | €5,759 | €4,179 | -€1,580 | -27.4% |
| Advances received on contracts in progress | 46 | - | €13,545 | +€13,545 | |
| Taxes, remuneration and social security | 45 | €17,518 | €18,109 | +€591 | +3.4% |
| Taxes | 450/3 | €3,089 | €1,160 | -€1,929 | -62.4% |
| Remuneration and social security | 454/9 | €14,429 | €16,949 | +€2,520 | +17.5% |
| Other amounts payable | 47/48 | €18,614 | €18,942 | +€328 | +1.8% |
| Remuneration, social security and pensions | 62 | €102,384 | €113,411 | +€11,027 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,120 | €5,101 | -€7,019 | -57.9% |
| Other operating charges | 640/8 | €1,952 | €1,647 | -€305 | -15.6% |
| Gross operating margin | 9900 | €97,501 | €132,083 | +€34,582 | +35.5% |
| Operating profit (loss) | 9901 | -€18,955 | €11,924 | +€30,880 | |
| Financial income | 75/76B | €174 | €351 | +€177 | +101.7% |
| Recurring financial income | 75 | €174 | €351 | +€177 | +101.7% |
| Financial charges | 65/66B | €3,273 | €527 | -€2,746 | -83.9% |
| Recurring financial charges | 65 | €3,273 | €527 | -€2,746 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,054 | €11,749 | +€33,803 | |
| Income taxes | 67/77 | - | €81 | +€81 | |
| Profit (loss) for the period | 9904 | -€22,054 | €11,668 | +€33,722 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,054 | €11,668 | +€33,722 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.