NAS-HOLDING: 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.
NAS-HOLDING
Largest movements
- Receivables within one year -€234,058
down €234,058 (-20.8%), from €1.1m to €888,628
of which Other amounts receivable: -€197,758
- Cash -€48,459
down €48,459 (-37.9%), from €127,706 to €79,247
mainly Contributions, distributions and other (-€677,591) and Deferred charges and accrued income (-€14,672)
- Reserves -€636,136
down €636,136 (-75.0%), from €847,703 to €211,567
- Other debts +€371,694
up €371,694 (+94.4%), from €393,858 to €765,552
- Gross operating margin -€1,544
down €1,544 (-3.1%), from €49,219 to €47,675
- Financial income -€1,249
down €1,249 (-7.8%), from €15,921 to €14,672
- Taxes -€942
down €942 (-4.6%), from €20,288 to €19,346
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 | €2,628,936 | €2,361,091 | -€267,845 | -10.2% |
| Fixed assets | 21/28 | €1,378,545 | €1,378,545 | = | 0.0% |
| Financial fixed assets | 28 | €1,378,545 | €1,378,545 | = | 0.0% |
| Current assets | 29/58 | €1,250,391 | €982,546 | -€267,845 | -21.4% |
| Amounts receivable within one year | 40/41 | €1,122,686 | €888,628 | -€234,058 | -20.8% |
| Trade receivables | 40 | €45,375 | €9,075 | -€36,300 | -80.0% |
| Other amounts receivable | 41 | €1,077,311 | €879,553 | -€197,758 | -18.4% |
| Cash at bank and in hand | 54/58 | €127,706 | €79,247 | -€48,459 | -37.9% |
| Deferred charges and accrued income | 490/1 | - | €14,672 | +€14,672 | |
| Total equity and liabilities | 10/49 | €2,628,936 | €2,361,091 | -€267,845 | -10.2% |
| Equity | 10/15 | €2,227,703 | €1,591,567 | -€636,136 | -28.6% |
| Contributions | 10/11 | €1,380,000 | €1,380,000 | = | 0.0% |
| Reserves | 13 | €847,703 | €211,567 | -€636,136 | -75.0% |
| Distributable reserves | 133 | €847,703 | €211,567 | -€636,136 | -75.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €401,233 | €769,524 | +€368,290 | +91.8% |
| Amounts payable within one year | 42/48 | €395,884 | €767,923 | +€372,039 | +94.0% |
| Trade debts | 44 | €187 | €605 | +€419 | +224% |
| Suppliers | 440/4 | €187 | €605 | +€419 | +224% |
| Taxes, remuneration and social security | 45 | €1,839 | €1,765 | -€74 | -4.0% |
| Taxes | 450/3 | €1,839 | €1,765 | -€74 | -4.0% |
| Other amounts payable | 47/48 | €393,858 | €765,552 | +€371,694 | +94.4% |
| Accrued charges and deferred income | 492/3 | €5,350 | €1,601 | -€3,749 | -70.1% |
| Other operating charges | 640/8 | €1,221 | €1,256 | +€36 | +2.9% |
| Gross operating margin | 9900 | €49,219 | €47,675 | -€1,544 | -3.1% |
| Operating profit (loss) | 9901 | €47,998 | €46,418 | -€1,580 | -3.3% |
| Financial income | 75/76B | €15,921 | €14,672 | -€1,249 | -7.8% |
| Recurring financial income | 75 | €15,921 | €14,672 | -€1,249 | -7.8% |
| Financial charges | 65/66B | €157 | €288 | +€131 | +83.2% |
| Recurring financial charges | 65 | €157 | €288 | +€131 | +83.2% |
| Profit (loss) for the period before taxes | 9903 | €63,762 | €60,802 | -€2,960 | -4.6% |
| Income taxes | 67/77 | €20,288 | €19,346 | -€942 | -4.6% |
| Profit (loss) for the period | 9904 | €43,474 | €41,456 | -€2,018 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,474 | €41,456 | -€2,018 | -4.6% |
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 29 October 2026 via checked.be.