NAMFON: 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.
NAMFON
Largest movements
- Cash -€170,480
down €170,480 (-80.4%), from €212,031 to €41,551
mainly Accrued charges and deferred income (-€111,207) and Receivables within one year (-€59,697)
- Receivables within one year +€59,697
up €59,697 (+162.9%), from €36,653 to €96,350
- Tangible fixed assets -€12,015
down €12,015 (-12.0%), from €100,015 to €88,000
of which Land and buildings: -€11,000
- Accrued charges and deferred income -€111,207
no longer reported in 2025 (was €111,207)
- Trade debts +€49,831
up €49,831 (+2487.8%), from €2,003 to €51,834
- Profit (loss) carried forward -€47,490
down €47,490 (-47.5%), from €99,945 to €52,455
- Tax, wage and social debts -€9,948
down €9,948 (-33.5%), from €29,663 to €19,715
- Other debts -€3,946
down €3,946 (-23.1%), from €17,059 to €13,113
- Gross operating margin -€228,842
down €228,842, from €195,021 to -€33,821
- Taxes -€48,215
down €48,215 (-99.6%), from €48,409 to €194
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 | €351,369 | €228,609 | -€122,760 | -34.9% |
| Fixed assets | 21/28 | €100,015 | €88,000 | -€12,015 | -12.0% |
| Tangible fixed assets | 22/27 | €100,015 | €88,000 | -€12,015 | -12.0% |
| Land and buildings | 22 | €99,000 | €88,000 | -€11,000 | -11.1% |
| Furniture and vehicles | 24 | €1,015 | - | -€1,015 | |
| Current assets | 29/58 | €251,354 | €140,609 | -€110,745 | -44.1% |
| Amounts receivable within one year | 40/41 | €36,653 | €96,350 | +€59,697 | +162.9% |
| Trade receivables | 40 | €36,653 | €96,350 | +€59,697 | +162.9% |
| Cash at bank and in hand | 54/58 | €212,031 | €41,551 | -€170,480 | -80.4% |
| Deferred charges and accrued income | 490/1 | €2,670 | €2,708 | +€38 | +1.4% |
| Total equity and liabilities | 10/49 | €351,369 | €228,609 | -€122,760 | -34.9% |
| Equity | 10/15 | €191,437 | €143,947 | -€47,490 | -24.8% |
| Contributions | 10/11 | €25,492 | €25,492 | = | 0.0% |
| Revaluation surpluses | 12 | €66,000 | €66,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,945 | €52,455 | -€47,490 | -47.5% |
| Amounts payable | 17/49 | €159,932 | €84,662 | -€75,270 | -47.1% |
| Amounts payable within one year | 42/48 | €48,725 | €84,662 | +€35,937 | +73.8% |
| Trade debts | 44 | €2,003 | €51,834 | +€49,831 | +2487.8% |
| Suppliers | 440/4 | €2,003 | €51,834 | +€49,831 | +2487.8% |
| Taxes, remuneration and social security | 45 | €29,663 | €19,715 | -€9,948 | -33.5% |
| Taxes | 450/3 | €29,663 | €19,715 | -€9,948 | -33.5% |
| Other amounts payable | 47/48 | €17,059 | €13,113 | -€3,946 | -23.1% |
| Accrued charges and deferred income | 492/3 | €111,207 | - | -€111,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,277 | €12,015 | +€738 | +6.5% |
| Other operating charges | 640/8 | €1,364 | €1,057 | -€307 | -22.5% |
| Gross operating margin | 9900 | €195,021 | -€33,821 | -€228,842 | |
| Operating profit (loss) | 9901 | €182,380 | -€46,893 | -€229,273 | |
| Financial income | 75/76B | €406 | €46 | -€360 | -88.7% |
| Recurring financial income | 75 | €406 | €46 | -€360 | -88.7% |
| Financial charges | 65/66B | €1,954 | €449 | -€1,505 | -77.0% |
| Recurring financial charges | 65 | €1,954 | €449 | -€1,505 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €180,832 | -€47,296 | -€228,128 | |
| Income taxes | 67/77 | €48,409 | €194 | -€48,215 | -99.6% |
| Profit (loss) for the period | 9904 | €132,423 | -€47,490 | -€179,913 | |
| Profit (loss) for the period to be appropriated | 9905 | €132,423 | -€47,490 | -€179,913 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.