NAMICO: 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.
What changed
NAMICO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€272,753
2024 · €357,176-€84,423
Equity
€4.1m
2024 · €3.9m+€272,753
Cash
€407,341
2024 · €2.1m-€1.7m
Balance sheet total
€4.4m
2024 · €4.2m+€238,292
Largest movements
Assets
- Current investments +€1.9m
up €1.9m (+104.7%), from €1.8m to €3.7m
- Cash -€1.7m
down €1.7m (-80.5%), from €2.1m to €407,341
mainly Current investments (-€1.9m) and Other debts (-€32,458)
Equity and liabilities
- Reserves +€273,000
up €273,000 (+7.9%), from €3.5m to €3.7m
of which Distributable reserves: +€273,000
Income statement
- Gross operating margin -€313,233
down €313,233 (-33.4%), from €937,272 to €624,040
- Financial income +€197,007
up €197,007 (+708.9%), from €27,791 to €224,798
of which Financial income: +€197,191
- Taxes -€69,890
down €69,890 (-56.5%), from €123,598 to €53,708
- Financial charges +€40,887
up €40,887 (+231.5%), from €17,662 to €58,550
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.
Result 2024
€357,176
Gross operating margin
-€313,233
Staff costs
-€2,714
Depreciation
+€7,037
Other operating charges
-€1,569
Other operating items
+€45
Financial income
+€197,007
Financial charges
-€40,887
Taxes
+€69,890
Result 2025
€272,753
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.
From operations
+€242,681
Investment
-€1.9m
Financing
€0
Cash 2024
€2.1m
From operations (derived)
+€242,681
Net result for the year
+€272,753
Depreciation
+€5,881
Receivables within one year
-€10,175
Deferred charges and accrued income
+€8,682
Trade debts
-€10,666
Tax, wage and social debts
+€11,326
Other debts
-€32,458
Accrued charges and deferred income
-€2,662
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€25,458
Current investments
-€1.9m
Cash 2025
€407,341
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,171,019 | €4,409,312 | +€238,292 | +5.7% |
| Fixed assets | 21/28 | €261,417 | €280,994 | +€19,577 | +7.5% |
| Tangible fixed assets | 22/27 | €261,417 | €280,994 | +€19,577 | +7.5% |
| Land and buildings | 22 | €258,972 | €277,218 | +€18,246 | +7.0% |
| Plant, machinery and equipment | 23 | €2,445 | €1,152 | -€1,293 | -52.9% |
| Furniture and vehicles | 24 | €0 | €2,625 | +€2,625 | |
| Current assets | 29/58 | €3,909,602 | €4,128,318 | +€218,715 | +5.6% |
| Amounts receivable within one year | 40/41 | €1,885 | €12,060 | +€10,175 | +539.7% |
| Trade receivables | 40 | €1,743 | €11,636 | +€9,893 | +567.7% |
| Other amounts receivable | 41 | €143 | €424 | +€282 | +197.3% |
| Current investments | 50/53 | €1,809,188 | €3,703,389 | +€1.9m | +104.7% |
| Cash at bank and in hand | 54/58 | €2,084,319 | €407,341 | -€1.7m | -80.5% |
| Deferred charges and accrued income | 490/1 | €14,210 | €5,527 | -€8,682 | -61.1% |
| Total equity and liabilities | 10/49 | €4,171,019 | €4,409,312 | +€238,292 | +5.7% |
| Equity | 10/15 | €3,874,116 | €4,146,869 | +€272,753 | +7.0% |
| Contributions | 10/11 | €410,000 | €410,000 | = | 0.0% |
| Capital | 10 | €410,000 | €410,000 | = | 0.0% |
| Issued capital | 100 | €410,000 | €410,000 | = | 0.0% |
| Reserves | 13 | €3,463,276 | €3,736,276 | +€273,000 | +7.9% |
| Non-distributable reserves | 130/1 | €41,000 | €41,000 | = | 0.0% |
| Legal reserve | 130 | €41,000 | €41,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €276 | €276 | = | 0.0% |
| Distributable reserves | 133 | €3,422,000 | €3,695,000 | +€273,000 | +8.0% |
| Profit (loss) carried forward | 14 | €840 | €593 | -€247 | -29.4% |
| Amounts payable | 17/49 | €296,903 | €262,442 | -€34,461 | -11.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €287,859 | €256,060 | -€31,799 | -11.0% |
| Trade debts | 44 | €13,270 | €2,604 | -€10,666 | -80.4% |
| Suppliers | 440/4 | €13,270 | €2,604 | -€10,666 | -80.4% |
| Taxes, remuneration and social security | 45 | €129,587 | €140,913 | +€11,326 | +8.7% |
| Taxes | 450/3 | €71,282 | €75,220 | +€3,938 | +5.5% |
| Remuneration and social security | 454/9 | €58,305 | €65,693 | +€7,388 | +12.7% |
| Other amounts payable | 47/48 | €145,002 | €112,543 | -€32,458 | -22.4% |
| Accrued charges and deferred income | 492/3 | €9,044 | €6,382 | -€2,662 | -29.4% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €443,521 | €446,235 | +€2,714 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,918 | €5,881 | -€7,037 | -54.5% |
| Other operating charges | 640/8 | €10,142 | €11,710 | +€1,569 | +15.5% |
| Non-recurring operating charges | 66A | €45 | €0 | -€45 | -100.0% |
| Gross operating margin | 9900 | €937,272 | €624,040 | -€313,233 | -33.4% |
| Operating profit (loss) | 9901 | €470,646 | €160,213 | -€310,433 | -66.0% |
| Financial income | 75/76B | €27,791 | €224,798 | +€197,007 | +708.9% |
| Recurring financial income | 75 | €27,607 | €224,798 | +€197,191 | +714.3% |
| Non-recurring financial income | 76B | €184 | €0 | -€184 | -100.0% |
| Financial charges | 65/66B | €17,662 | €58,550 | +€40,887 | +231.5% |
| Recurring financial charges | 65 | €17,662 | €58,550 | +€40,887 | +231.5% |
| Profit (loss) for the period before taxes | 9903 | €480,774 | €326,461 | -€154,313 | -32.1% |
| Income taxes | 67/77 | €123,598 | €53,708 | -€69,890 | -56.5% |
| Profit (loss) for the period | 9904 | €357,176 | €272,753 | -€84,423 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €357,176 | €272,753 | -€84,423 | -23.6% |
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.