NAMKHA: 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.
NAMKHA
Largest movements
- Financial fixed assets +€455,000
up €455,000 (+5.8%), from €7.9m to €8.3m
- Cash -€322,854
down €322,854 (-67.5%), from €478,464 to €155,610
mainly Investment in fixed assets (net) (-€455,891) and Receivables after one year (-€270,632)
- Receivables within one year -€321,380
down €321,380 (-63.8%), from €503,992 to €182,612
of which Other amounts receivable: -€315,318
- Receivables after one year +€270,632
up €270,632 (+45.5%), from €595,199 to €865,831
of which Other amounts receivable: +€266,202
- Reserves +€421,438
up €421,438 (+5.3%), from €8.0m to €8.4m
- Debts after one year -€265,749
down €265,749 (-28.1%), from €946,814 to €681,065
of which Financial debts: -€195,749
- Gross operating margin -€428,193
down €428,193, from €337,955 to -€90,237
- Taxes -€131,941
down €131,941 (-75.5%), from €174,660 to €42,719
- Financial income -€74,506
down €74,506 (-10.2%), from €731,920 to €657,414
- Depreciation +€8,538
up €8,538 (+20.1%), from €42,518 to €51,056
- Financial charges -€6,551
down €6,551 (-11.8%), from €55,557 to €49,006
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 | €9,685,103 | €9,714,647 | +€29,544 | +0.3% |
| Fixed assets | 21/28 | €8,100,520 | €8,505,355 | +€404,835 | +5.0% |
| Tangible fixed assets | 22/27 | €207,151 | €156,987 | -€50,165 | -24.2% |
| Land and buildings | 22 | €3,289 | €2,851 | -€438 | -13.3% |
| Plant, machinery and equipment | 23 | €5,185 | €3,977 | -€1,208 | -23.3% |
| Furniture and vehicles | 24 | €166,225 | €122,158 | -€44,067 | -26.5% |
| Other tangible fixed assets | 26 | €29,977 | €25,526 | -€4,452 | -14.8% |
| Assets under construction and advance payments | 27 | €2,475 | €2,475 | = | 0.0% |
| Financial fixed assets | 28 | €7,893,369 | €8,348,369 | +€455,000 | +5.8% |
| Current assets | 29/58 | €1,584,583 | €1,209,292 | -€375,292 | -23.7% |
| Amounts receivable after more than one year | 29 | €595,199 | €865,831 | +€270,632 | +45.5% |
| Trade receivables | 290 | €95,199 | €99,629 | +€4,430 | +4.7% |
| Other amounts receivable | 291 | €500,000 | €766,202 | +€266,202 | +53.2% |
| Amounts receivable within one year | 40/41 | €503,992 | €182,612 | -€321,380 | -63.8% |
| Trade receivables | 40 | €6,916 | €854 | -€6,062 | -87.6% |
| Other amounts receivable | 41 | €497,076 | €181,758 | -€315,318 | -63.4% |
| Cash at bank and in hand | 54/58 | €478,464 | €155,610 | -€322,854 | -67.5% |
| Deferred charges and accrued income | 490/1 | €6,928 | €5,239 | -€1,690 | -24.4% |
| Total equity and liabilities | 10/49 | €9,685,103 | €9,714,647 | +€29,544 | +0.3% |
| Equity | 10/15 | €8,177,664 | €8,599,102 | +€421,438 | +5.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €7,977,664 | €8,399,102 | +€421,438 | +5.3% |
| Distributable reserves | 133 | €7,977,664 | €8,399,102 | +€421,438 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,507,439 | €1,115,545 | -€391,894 | -26.0% |
| Amounts payable after more than one year | 17 | €946,814 | €681,065 | -€265,749 | -28.1% |
| Financial debts | 170/4 | €736,814 | €541,065 | -€195,749 | -26.6% |
| Other amounts payable | 178/9 | €210,000 | €140,000 | -€70,000 | -33.3% |
| Amounts payable within one year | 42/48 | €548,502 | €432,784 | -€115,718 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €258,029 | €265,749 | +€7,720 | +3.0% |
| Financial debts | 43 | €20,274 | €0 | -€20,274 | -100% |
| Credit institutions | 430/8 | €20,274 | €0 | -€20,274 | -100% |
| Trade debts | 44 | €17,597 | €7,913 | -€9,684 | -55.0% |
| Suppliers | 440/4 | €17,597 | €7,913 | -€9,684 | -55.0% |
| Taxes, remuneration and social security | 45 | €251,265 | €157,916 | -€93,349 | -37.2% |
| Taxes | 450/3 | €251,265 | €157,916 | -€93,349 | -37.2% |
| Other amounts payable | 47/48 | €1,337 | €1,207 | -€131 | -9.8% |
| Accrued charges and deferred income | 492/3 | €12,123 | €1,696 | -€10,427 | -86.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €8 | -€27 | -€35 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,518 | €51,056 | +€8,538 | +20.1% |
| Other operating charges | 640/8 | €2,101 | €2,152 | +€50 | +2.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €337,955 | -€90,237 | -€428,193 | |
| Operating profit (loss) | 9901 | €293,328 | -€143,418 | -€436,746 | |
| Financial income | 75/76B | €731,920 | €657,414 | -€74,506 | -10.2% |
| Recurring financial income | 75 | €731,920 | €657,414 | -€74,506 | -10.2% |
| Financial charges | 65/66B | €55,557 | €49,006 | -€6,551 | -11.8% |
| Recurring financial charges | 65 | €55,557 | €49,006 | -€6,551 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €969,691 | €464,990 | -€504,701 | -52.0% |
| Income taxes | 67/77 | €174,660 | €42,719 | -€131,941 | -75.5% |
| Profit (loss) for the period | 9904 | €795,030 | €422,271 | -€372,759 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €795,030 | €422,271 | -€372,759 | -46.9% |
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 22 October 2026 via checked.be.