NANDRINVEST: 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.
NANDRINVEST
Largest movements
- Tangible fixed assets -€59,219
down €59,219 (-8.7%), from €679,509 to €620,290
- Receivables within one year +€23,004
up €23,004 (+6.1%), from €379,400 to €402,405
of which Other amounts receivable: +€204,764
- Deferred charges and accrued income +€16,921
up €16,921 (+328%), from €5,153 to €22,074
- Trade debts -€133,286
down €133,286 (-100%), from €133,286 to €0
- Reserves +€96,300
up €96,300 (+21.9%), from €439,359 to €535,659
of which Distributable reserves: +€96,300
- Tax, wage and social debts +€44,835
up €44,835 (+110%), from €40,868 to €85,703
- Debts after one year -€34,027
down €34,027 (-14.4%), from €236,262 to €202,235
- Other debts +€18,000
up €18,000 (+43.6%), from €41,288 to €59,288
- Taxes +€27,123
up €27,123 (+92.6%), from €29,290 to €56,413
- Financial income +€3,873
up €3,873 (+185%), from €2,093 to €5,967
- Depreciation -€2,504
down €2,504 (-4.1%), from €61,723 to €59,219
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 | €1,328,570 | €1,301,721 | -€26,849 | -2.0% |
| Fixed assets | 21/28 | €932,367 | €873,148 | -€59,219 | -6.4% |
| Tangible fixed assets | 22/27 | €679,509 | €620,290 | -€59,219 | -8.7% |
| Land and buildings | 22 | €679,509 | €620,290 | -€59,219 | -8.7% |
| Financial fixed assets | 28 | €252,858 | €252,858 | = | 0.0% |
| Current assets | 29/58 | €396,203 | €428,573 | +€32,370 | +8.2% |
| Amounts receivable within one year | 40/41 | €379,400 | €402,405 | +€23,004 | +6.1% |
| Trade receivables | 40 | €290,744 | €108,985 | -€181,759 | -62.5% |
| Other amounts receivable | 41 | €88,656 | €293,420 | +€204,764 | +231% |
| Cash at bank and in hand | 54/58 | €11,650 | €4,094 | -€7,555 | -64.9% |
| Deferred charges and accrued income | 490/1 | €5,153 | €22,074 | +€16,921 | +328% |
| Total equity and liabilities | 10/49 | €1,328,570 | €1,301,721 | -€26,849 | -2.0% |
| Equity | 10/15 | €841,623 | €920,467 | +€78,844 | +9.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €245,000 | €227,500 | -€17,500 | -7.1% |
| Reserves | 13 | €439,359 | €535,659 | +€96,300 | +21.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €433,159 | €529,459 | +€96,300 | +22.2% |
| Profit (loss) carried forward | 14 | €95,265 | €95,309 | +€44 | 0.0% |
| Amounts payable | 17/49 | €486,947 | €381,253 | -€105,693 | -21.7% |
| Amounts payable after more than one year | 17 | €236,262 | €202,235 | -€34,027 | -14.4% |
| Financial debts | 170/4 | €236,262 | €202,235 | -€34,027 | -14.4% |
| Amounts payable within one year | 42/48 | €250,684 | €179,018 | -€71,666 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €35,242 | €34,027 | -€1,215 | -3.4% |
| Trade debts | 44 | €133,286 | €0 | -€133,286 | -100% |
| Suppliers | 440/4 | €133,286 | €0 | -€133,286 | -100% |
| Taxes, remuneration and social security | 45 | €40,868 | €85,703 | +€44,835 | +110% |
| Taxes | 450/3 | €40,868 | €85,703 | +€44,835 | +110% |
| Other amounts payable | 47/48 | €41,288 | €59,288 | +€18,000 | +43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,723 | €59,219 | -€2,504 | -4.1% |
| Other operating charges | 640/8 | €18,763 | €19,884 | +€1,121 | +6.0% |
| Gross operating margin | 9900 | €232,474 | €232,145 | -€330 | -0.1% |
| Operating profit (loss) | 9901 | €151,989 | €153,041 | +€1,053 | +0.7% |
| Financial income | 75/76B | €2,093 | €5,967 | +€3,873 | +185% |
| Recurring financial income | 75 | €2,093 | €5,967 | +€3,873 | +185% |
| Financial charges | 65/66B | €6,654 | €5,751 | -€904 | -13.6% |
| Recurring financial charges | 65 | €6,654 | €5,751 | -€904 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €147,427 | €153,257 | +€5,830 | +4.0% |
| Income taxes | 67/77 | €29,290 | €56,413 | +€27,123 | +92.6% |
| Profit (loss) for the period | 9904 | €118,137 | €96,844 | -€21,293 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €118,137 | €96,844 | -€21,293 | -18.0% |
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 25 October 2026 via checked.be.