NASTAT: 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.
NASTAT
Largest movements
- Receivables within one year +€780,736
up €780,736 (+38.6%), from €2.0m to €2.8m
of which Other amounts receivable: +€779,948
- Cash -€449,614
down €449,614 (-60.1%), from €747,570 to €297,956
mainly Receivables within one year (-€780,736) and Debts after one year (-€428,571)
- Reserves +€1.1m
up €1.1m (+22.4%), from €4.9m to €6.0m
- Debts after one year -€428,571
down €428,571 (-33.3%), from €1.3m to €857,143
- Tax, wage and social debts -€188,964
down €188,964 (-35.9%), from €526,904 to €337,941
of which Taxes: -€181,506
- Other debts -€171,822
down €171,822 (-69.0%), from €248,943 to €77,121
- Financial income -€501,710
down €501,710 (-26.8%), from €1.9m to €1.4m
- Gross operating margin -€85,719
down €85,719 (-29.0%), from €296,068 to €210,349
- Taxes -€53,311
down €53,311 (-22.3%), from €238,849 to €185,538
- Staff costs -€48,685
down €48,685 (-75.8%), from €64,207 to €15,522
- Financial charges -€8,837
down €8,837 (-25.9%), from €34,129 to €25,292
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 | €7,447,628 | €7,757,433 | +€309,805 | +4.2% |
| Fixed assets | 21/28 | €4,596,909 | €4,576,254 | -€20,655 | -0.4% |
| Tangible fixed assets | 22/27 | €96,878 | €76,223 | -€20,655 | -21.3% |
| Plant, machinery and equipment | 23 | €280 | €100 | -€180 | -64.3% |
| Furniture and vehicles | 24 | €93,713 | €73,885 | -€19,828 | -21.2% |
| Other tangible fixed assets | 26 | €2,885 | €2,238 | -€647 | -22.4% |
| Financial fixed assets | 28 | €4,500,031 | €4,500,031 | = | 0.0% |
| Current assets | 29/58 | €2,850,719 | €3,181,180 | +€330,460 | +11.6% |
| Amounts receivable within one year | 40/41 | €2,022,146 | €2,802,882 | +€780,736 | +38.6% |
| Trade receivables | 40 | - | €788 | +€788 | |
| Other amounts receivable | 41 | €2,022,146 | €2,802,095 | +€779,948 | +38.6% |
| Cash at bank and in hand | 54/58 | €747,570 | €297,956 | -€449,614 | -60.1% |
| Deferred charges and accrued income | 490/1 | €81,003 | €80,341 | -€661 | -0.8% |
| Total equity and liabilities | 10/49 | €7,447,628 | €7,757,433 | +€309,805 | +4.2% |
| Equity | 10/15 | €4,930,616 | €6,029,565 | +€1.1m | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,912,016 | €6,010,965 | +€1.1m | +22.4% |
| Distributable reserves | 133 | €4,912,016 | €6,010,965 | +€1.1m | +22.4% |
| Amounts payable | 17/49 | €2,517,012 | €1,727,868 | -€789,144 | -31.4% |
| Amounts payable after more than one year | 17 | €1,285,714 | €857,143 | -€428,571 | -33.3% |
| Financial debts | 170/4 | €1,285,714 | €857,143 | -€428,571 | -33.3% |
| Amounts payable within one year | 42/48 | €1,220,141 | €862,653 | -€357,488 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €428,571 | €428,571 | = | 0.0% |
| Trade debts | 44 | €15,722 | €19,020 | +€3,298 | +21.0% |
| Suppliers | 440/4 | €15,722 | €19,020 | +€3,298 | +21.0% |
| Taxes, remuneration and social security | 45 | €526,904 | €337,941 | -€188,964 | -35.9% |
| Taxes | 450/3 | €519,446 | €337,940 | -€181,506 | -34.9% |
| Remuneration and social security | 454/9 | €7,458 | €0 | -€7,458 | -100.0% |
| Other amounts payable | 47/48 | €248,943 | €77,121 | -€171,822 | -69.0% |
| Accrued charges and deferred income | 492/3 | €11,157 | €8,072 | -€3,085 | -27.7% |
| Remuneration, social security and pensions | 62 | €64,207 | €15,522 | -€48,685 | -75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,155 | €26,203 | +€49 | +0.2% |
| Other operating charges | 640/8 | €1,473 | €2,982 | +€1,510 | +103% |
| Gross operating margin | 9900 | €296,068 | €210,349 | -€85,719 | -29.0% |
| Operating profit (loss) | 9901 | €204,234 | €165,642 | -€38,592 | -18.9% |
| Financial income | 75/76B | €1,875,317 | €1,373,607 | -€501,710 | -26.8% |
| Recurring financial income | 75 | €1,875,317 | €1,373,607 | -€501,710 | -26.8% |
| Financial charges | 65/66B | €34,129 | €25,292 | -€8,837 | -25.9% |
| Recurring financial charges | 65 | €34,129 | €25,292 | -€8,837 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €2,045,422 | €1,513,957 | -€531,465 | -26.0% |
| Income taxes | 67/77 | €238,849 | €185,538 | -€53,311 | -22.3% |
| Profit (loss) for the period | 9904 | €1,806,573 | €1,328,418 | -€478,154 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,806,573 | €1,328,418 | -€478,154 | -26.5% |
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 18 October 2026 via checked.be.