NASAM: what changed
Two fiscal 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.
What changed
NASAM
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€69,709
2024 · -€80,107+€10,397
Equity
-€254,107
2024 · -€184,398-€69,709
Cash
€19,124
2024 · €8,359+€10,765
Balance sheet total
€1.1m
2024 · €1.1m-€21,252
Largest movements
Assets
- Receivables after one year -€22,500
no longer reported in 2025 (was €22,500)
Equity and liabilities
- Other debts +€79,934
up €79,934 (+43.9%), from €182,000 to €261,934
- Profit (loss) carried forward -€64,457
down €64,457 (-16.1%), from -€399,703 to -€464,160
- Debts after one year -€15,347
down €15,347 (-1.5%), from €994,913 to €979,566
Income statement
- Other operating charges -€30,712
down €30,712 (-87.3%), from €35,163 to €4,451
- Depreciation -€25,795
down €25,795 (-41.1%), from €62,791 to €36,996
- Gross operating margin -€23,816
down €23,816 (-78.9%), from €30,173 to €6,357
- Write-downs +€11,250
new in 2025: €11,250
- Taxes +€10,586
up €10,586 (+1119.9%), from €945 to €11,531
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.
Result 2024
-€80,107
Gross operating margin
-€23,816
Depreciation
+€25,795
Write-downs
-€11,250
Other operating charges
+€30,712
Financial income
-€7
Financial charges
+€438
Taxes
-€10,586
Deferred taxes and other
-€890
Result 2025
-€69,709
Cash bridge derived
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.
From operations
+€50,931
Investment
-€21,985
Financing
-€18,180
Cash 2024
€8,359
From operations (derived)
+€50,931
Net result for the year
-€69,709
Depreciation
+€36,996
Receivables after one year
+€22,500
Receivables within one year
-€4,730
Deferred charges and accrued income
-€763
Provisions
-€3,502
Trade debts
+€2,657
Tax, wage and social debts
-€8,833
Other debts
+€79,934
Accrued charges and deferred income
-€3,619
Investment (derived)
-€21,985
Investment in fixed assets (net)
-€21,985
Financing
-€18,180
Debts after one year
-€15,347
Current portion of long-term debt
-€2,833
Cash 2025
€19,124
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,107,490 | €1,086,237 | -€21,252 | -1.9% |
| Fixed assets | 21/28 | €1,071,588 | €1,056,577 | -€15,011 | -1.4% |
| Intangible fixed assets | 21 | €7,500 | - | -€7,500 | |
| Tangible fixed assets | 22/27 | €1,013,838 | €1,006,327 | -€7,511 | -0.7% |
| Land and buildings | 22 | €1,003,127 | €999,428 | -€3,699 | -0.4% |
| Plant, machinery and equipment | 23 | €150 | - | -€150 | |
| Furniture and vehicles | 24 | €10,562 | €6,900 | -€3,662 | -34.7% |
| Financial fixed assets | 28 | €50,250 | €50,250 | = | 0.0% |
| Current assets | 29/58 | €35,901 | €29,660 | -€6,242 | -17.4% |
| Amounts receivable after more than one year | 29 | €22,500 | - | -€22,500 | |
| Trade receivables | 290 | €22,500 | - | -€22,500 | |
| Amounts receivable within one year | 40/41 | €3,686 | €8,417 | +€4,730 | +128.3% |
| Trade receivables | 40 | €3,686 | €6,417 | +€2,730 | +74.1% |
| Other amounts receivable | 41 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €8,359 | €19,124 | +€10,765 | +128.8% |
| Deferred charges and accrued income | 490/1 | €1,356 | €2,120 | +€763 | +56.3% |
| Total equity and liabilities | 10/49 | €1,107,490 | €1,086,237 | -€21,252 | -1.9% |
| Equity | 10/15 | -€184,398 | -€254,107 | -€69,709 | -37.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,705 | €191,453 | -€5,253 | -2.7% |
| Tax-exempt reserves | 132 | €169,845 | €164,593 | -€5,253 | -3.1% |
| Distributable reserves | 133 | €26,860 | €26,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€399,703 | -€464,160 | -€64,457 | -16.1% |
| Provisions and deferred taxes | 16 | €55,223 | €51,722 | -€3,502 | -6.3% |
| Deferred taxes | 168 | €55,223 | €51,722 | -€3,502 | -6.3% |
| Amounts payable | 17/49 | €1,236,664 | €1,288,623 | +€51,959 | +4.2% |
| Amounts payable after more than one year | 17 | €994,913 | €979,566 | -€15,347 | -1.5% |
| Financial debts | 170/4 | €994,913 | €979,566 | -€15,347 | -1.5% |
| Amounts payable within one year | 42/48 | €238,133 | €309,057 | +€70,924 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €18,180 | €15,347 | -€2,833 | -15.6% |
| Trade debts | 44 | €26,324 | €28,980 | +€2,657 | +10.1% |
| Suppliers | 440/4 | €26,324 | €28,980 | +€2,657 | +10.1% |
| Taxes, remuneration and social security | 45 | €11,629 | €2,795 | -€8,833 | -76.0% |
| Taxes | 450/3 | €11,629 | €2,795 | -€8,833 | -76.0% |
| Other amounts payable | 47/48 | €182,000 | €261,934 | +€79,934 | +43.9% |
| Accrued charges and deferred income | 492/3 | €3,619 | - | -€3,619 | |
| Non-recurring operating income | 76A | €27 | - | -€27 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,791 | €36,996 | -€25,795 | -41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,250 | +€11,250 | |
| Other operating charges | 640/8 | €35,163 | €4,451 | -€30,712 | -87.3% |
| Gross operating margin | 9900 | €30,173 | €6,357 | -€23,816 | -78.9% |
| Operating profit (loss) | 9901 | -€67,781 | -€46,340 | +€21,442 | +31.6% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €15,778 | €15,341 | -€438 | -2.8% |
| Recurring financial charges | 65 | €15,778 | €15,341 | -€438 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | -€83,553 | -€61,680 | +€21,873 | +26.2% |
| Transfer from deferred taxes | 780 | €4,391 | €3,502 | -€890 | -20.3% |
| Income taxes | 67/77 | €945 | €11,531 | +€10,586 | +1119.9% |
| Profit (loss) for the period | 9904 | -€80,107 | -€69,709 | +€10,397 | +13.0% |
| Transfer from tax-exempt reserves | 789 | €13,174 | €5,253 | -€7,921 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,933 | -€64,457 | +€2,476 | +3.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.