Nat & So: 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.
Nat & So
Largest movements
- Financial fixed assets -€750
down €750 (-100.0%), from €750 to €0
- Cash +€694
up €694 (+350.5%), from €198 to €892
mainly Other debts (+€1,243) and Investment in fixed assets (net) (+€750)
- Formation expenses -€290
down €290 (-25.0%), from €1,160 to €870
- Profit (loss) carried forward -€2,104
down €2,104 (-6.4%), from -€32,678 to -€34,782
- Other debts +€1,243
up €1,243 (+8.8%), from €14,110 to €15,353
- Trade debts +€515
up €515 (+21.2%), from €2,433 to €2,948
- Gross operating margin -€1,585
down €1,585 (-916.2%), from -€173 to -€1,758
- Financial charges +€56
new in 2025: €56
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,733 | €2,387 | -€346 | -12.7% |
| Formation expenses | 20 | €1,160 | €870 | -€290 | -25.0% |
| Fixed assets | 21/28 | €750 | €0 | -€750 | -100.0% |
| Financial fixed assets | 28 | €750 | €0 | -€750 | -100.0% |
| Current assets | 29/58 | €823 | €1,517 | +€694 | +84.3% |
| Amounts receivable within one year | 40/41 | €625 | €625 | = | 0.0% |
| Trade receivables | 40 | €625 | €625 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €198 | €892 | +€694 | +350.5% |
| Total equity and liabilities | 10/49 | €2,733 | €2,387 | -€346 | -12.7% |
| Equity | 10/15 | -€14,078 | -€16,182 | -€2,104 | -14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,678 | -€34,782 | -€2,104 | -6.4% |
| Amounts payable | 17/49 | €16,811 | €18,569 | +€1,758 | +10.5% |
| Amounts payable within one year | 42/48 | €16,811 | €18,569 | +€1,758 | +10.5% |
| Trade debts | 44 | €2,433 | €2,948 | +€515 | +21.2% |
| Suppliers | 440/4 | €2,433 | €2,948 | +€515 | +21.2% |
| Taxes, remuneration and social security | 45 | €268 | €268 | = | 0.0% |
| Taxes | 450/3 | €268 | €268 | = | 0.0% |
| Other amounts payable | 47/48 | €14,110 | €15,353 | +€1,243 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290 | €290 | = | 0.0% |
| Gross operating margin | 9900 | -€173 | -€1,758 | -€1,585 | -916.2% |
| Operating profit (loss) | 9901 | -€463 | -€2,048 | -€1,585 | -342.3% |
| Financial charges | 65/66B | - | €56 | +€56 | |
| Recurring financial charges | 65 | - | €56 | +€56 | |
| Profit (loss) for the period before taxes | 9903 | -€463 | -€2,104 | -€1,641 | -354.4% |
| Profit (loss) for the period | 9904 | -€463 | -€2,104 | -€1,641 | -354.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€463 | -€2,104 | -€1,641 | -354.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.