NAMINVEST: 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.
NAMINVEST
Largest movements
- Cash +€21,650
up €21,650 (+63.3%), from €34,192 to €55,842
mainly Net result for the year (+€39,938) and Receivables within one year (+€2,634)
- Profit (loss) carried forward +€37,939
up €37,939 (+7.1%), from €537,706 to €575,645
- Current portion of long-term debt -€20,000
no longer reported in 2025 (was €20,000)
- Turnover +€4,795
up €4,795 (+6.6%), from €72,362 to €77,157
- Gross operating margin +€3,368
up €3,368 (+5.7%), from €59,506 to €62,874
- Purchases and services +€1,426
up €1,426 (+11.1%), from €12,856 to €14,282
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.
Derived cash bridge
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 | €1,310,563 | €1,330,539 | +€19,976 | +1.5% |
| Fixed assets | 21/28 | €1,269,796 | €1,270,751 | +€955 | +0.1% |
| Tangible fixed assets | 22/27 | €110,924 | €111,879 | +€955 | +0.9% |
| Land and buildings | 22 | €107,037 | €107,037 | -€0 | 0.0% |
| Furniture and vehicles | 24 | €0 | €1,354 | +€1,354 | |
| Other tangible fixed assets | 26 | €3,888 | €3,489 | -€399 | -10.3% |
| Financial fixed assets | 28 | €1,158,872 | €1,158,872 | -€0 | 0.0% |
| Current assets | 29/58 | €40,766 | €59,787 | +€19,021 | +46.7% |
| Amounts receivable within one year | 40/41 | €4,704 | €2,070 | -€2,634 | -56.0% |
| Trade receivables | 40 | - | €16 | +€16 | |
| Other amounts receivable | 41 | €4,704 | €2,054 | -€2,650 | -56.3% |
| Cash at bank and in hand | 54/58 | €34,192 | €55,842 | +€21,650 | +63.3% |
| Deferred charges and accrued income | 490/1 | €1,870 | €1,875 | +€5 | +0.3% |
| Total equity and liabilities | 10/49 | €1,310,563 | €1,330,539 | +€19,976 | +1.5% |
| Equity | 10/15 | - | €1,327,966 | +€1.3m | |
| Contributions | 10/11 | €719,000 | €719,000 | = | 0.0% |
| Capital | 10 | €719,000 | €719,000 | = | 0.0% |
| Issued capital | 100 | €719,000 | €719,000 | = | 0.0% |
| Reserves | 13 | €31,321 | €33,321 | +€2,000 | +6.4% |
| Non-distributable reserves | 130/1 | €31,321 | €33,321 | +€2,000 | +6.4% |
| Legal reserve | 130 | €31,321 | €33,321 | +€2,000 | +6.4% |
| Profit (loss) carried forward | 14 | €537,706 | €575,645 | +€37,939 | +7.1% |
| Amounts payable | 17/49 | €22,535 | €2,573 | -€19,962 | -88.6% |
| Amounts payable within one year | 42/48 | €22,535 | €2,573 | -€19,962 | -88.6% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €2,535 | €2,573 | +€38 | +1.5% |
| Suppliers | 440/4 | €2,535 | €2,573 | +€38 | +1.5% |
| Turnover | 70 | €72,362 | €77,157 | +€4,795 | +6.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €12,856 | €14,282 | +€1,426 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101 | €702 | +€601 | +595% |
| Other operating charges | 640/8 | €9,260 | €9,763 | +€503 | +5.4% |
| Gross operating margin | 9900 | €59,506 | €62,874 | +€3,368 | +5.7% |
| Operating profit (loss) | 9901 | €50,145 | €52,409 | +€2,264 | +4.5% |
| Financial income | 75/76B | €875 | €875 | = | 0.0% |
| Recurring financial income | 75 | €875 | €875 | = | 0.0% |
| Financial charges | 65/66B | €529 | €73 | -€456 | -86.2% |
| Recurring financial charges | 65 | €529 | €73 | -€456 | -86.2% |
| Profit (loss) for the period before taxes | 9903 | €50,491 | €53,211 | +€2,720 | +5.4% |
| Income taxes | 67/77 | €12,681 | €13,273 | +€592 | +4.7% |
| Profit (loss) for the period | 9904 | €37,810 | €39,938 | +€2,128 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,810 | €39,938 | +€2,128 | +5.6% |
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 20 October 2026 via checked.be.