Nanof: what changed
What changed
Nanof
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€83,804
2024 · €86,322-€2,518
Equity
€219,229
2024 · €365,425-€146,196
Cash
€15,128
2024 · €9,205+€5,923
Balance sheet total
€511,946
2024 · €481,876+€30,069
Largest movements
Assets
- Current investments +€39,002
up €39,002 (+24.5%), from €159,000 to €198,002
- Tangible fixed assets -€10,907
down €10,907 (-3.9%), from €281,380 to €270,472
of which Land and buildings: -€6,818
- Cash +€5,923
up €5,923 (+64.3%), from €9,205 to €15,128
mainly Other debts (+€185,311) and Net result for the year (+€83,804)
Equity and liabilities
- Other debts +€185,311
up €185,311, from €0 to €185,311
- Reserves -€146,196
down €146,196 (-42.2%), from €346,825 to €200,629
- Debts after one year -€9,037
down €9,037 (-11.1%), from €81,630 to €72,592
Income statement
- Gross operating margin -€6,757
down €6,757 (-5.2%), from €130,098 to €123,341
- Financial income +€2,871
up €2,871 (+424%), from €677 to €3,548
- Depreciation -€2,079
down €2,079 (-16.0%), from €12,986 to €10,907
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€86,322
Gross operating margin
-€6,757
Depreciation
+€2,079
Other operating charges
-€159
Financial income
+€2,871
Financial charges
+€308
Taxes
-€860
Result 2025
€83,804
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€283,604
Investment
-€39,002
Financing
-€238,679
Cash 2024
€9,205
From operations (derived)
+€283,604
Net result for the year
+€83,804
Depreciation
+€10,907
Receivables within one year
+€3,035
Deferred charges and accrued income
+€913
Smaller working-capital items
-€366
Other debts
+€185,311
Investment (derived)
-€39,002
Current investments
-€39,002
Financing
-€238,679
Debts after one year
-€9,037
Current portion of long-term debt
+€359
Contributions, distributions and other
-€230,000
Cash 2025
€15,128
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €481,876 | €511,946 | +€30,069 | +6.2% |
| Fixed assets | 21/28 | €281,380 | €270,472 | -€10,907 | -3.9% |
| Tangible fixed assets | 22/27 | €281,380 | €270,472 | -€10,907 | -3.9% |
| Land and buildings | 22 | €267,042 | €260,224 | -€6,818 | -2.6% |
| Furniture and vehicles | 24 | €14,337 | €10,248 | -€4,089 | -28.5% |
| Current assets | 29/58 | €200,496 | €241,473 | +€40,977 | +20.4% |
| Amounts receivable within one year | 40/41 | €30,795 | €27,760 | -€3,035 | -9.9% |
| Trade receivables | 40 | €26,267 | €26,751 | +€484 | +1.8% |
| Other amounts receivable | 41 | €4,527 | €1,009 | -€3,519 | -77.7% |
| Current investments | 50/53 | €159,000 | €198,002 | +€39,002 | +24.5% |
| Cash at bank and in hand | 54/58 | €9,205 | €15,128 | +€5,923 | +64.3% |
| Deferred charges and accrued income | 490/1 | €1,497 | €583 | -€913 | -61.0% |
| Total equity and liabilities | 10/49 | €481,876 | €511,946 | +€30,069 | +6.2% |
| Equity | 10/15 | €365,425 | €219,229 | -€146,196 | -40.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €346,825 | €200,629 | -€146,196 | -42.2% |
| Distributable reserves | 133 | €346,825 | €200,629 | -€146,196 | -42.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,451 | €292,717 | +€176,266 | +151% |
| Amounts payable after more than one year | 17 | €81,630 | €72,592 | -€9,037 | -11.1% |
| Financial debts | 170/4 | €81,630 | €72,592 | -€9,037 | -11.1% |
| Amounts payable within one year | 42/48 | €34,821 | €220,124 | +€185,303 | +532% |
| Current portion of amounts payable after more than one year | 42 | €8,679 | €9,037 | +€359 | +4.1% |
| Trade debts | 44 | €1,715 | €1,326 | -€389 | -22.7% |
| Suppliers | 440/4 | €1,715 | €1,326 | -€389 | -22.7% |
| Taxes, remuneration and social security | 45 | €24,427 | €24,450 | +€23 | +0.1% |
| Taxes | 450/3 | €24,427 | €24,450 | +€23 | +0.1% |
| Other amounts payable | 47/48 | €0 | €185,311 | +€185,311 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,986 | €10,907 | -€2,079 | -16.0% |
| Other operating charges | 640/8 | €2,212 | €2,371 | +€159 | +7.2% |
| Gross operating margin | 9900 | €130,098 | €123,341 | -€6,757 | -5.2% |
| Operating profit (loss) | 9901 | €114,900 | €110,063 | -€4,837 | -4.2% |
| Financial income | 75/76B | €677 | €3,548 | +€2,871 | +424% |
| Recurring financial income | 75 | €677 | €3,548 | +€2,871 | +424% |
| Financial charges | 65/66B | €4,059 | €3,752 | -€308 | -7.6% |
| Recurring financial charges | 65 | €4,059 | €3,752 | -€308 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €111,518 | €109,859 | -€1,658 | -1.5% |
| Income taxes | 67/77 | €25,196 | €26,056 | +€860 | +3.4% |
| Profit (loss) for the period | 9904 | €86,322 | €83,804 | -€2,518 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,322 | €83,804 | -€2,518 | -2.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.