NATA: 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.
NATA
Largest movements
- Tangible fixed assets +€41,582
up €41,582 (+14.6%), from €284,111 to €325,693
of which Other tangible fixed assets: +€48,846
- Deferred charges and accrued income -€27,288
down €27,288 (-49.6%), from €54,976 to €27,688
- Cash -€21,288
down €21,288 (-18.9%), from €112,788 to €91,501
mainly Investment in fixed assets (net) (-€110,247) and Trade debts (-€37,229)
- Stocks and contracts +€16,108
up €16,108 (+36.6%), from €44,001 to €60,109
- Other debts +€60,830
up €60,830 (+221.6%), from €27,454 to €88,283
- Trade debts -€37,229
down €37,229 (-20.9%), from €178,493 to €141,263
- Debts after one year +€19,233
up €19,233 (+15.7%), from €122,636 to €141,869
- Reserves -€17,193
down €17,193 (-23.6%), from €72,834 to €55,642
of which Distributable reserves: -€17,193
- Tax, wage and social debts -€11,380
down €11,380 (-11.3%), from €100,534 to €89,154
of which Remuneration and social security: -€11,142
- Gross operating margin -€82,775
down €82,775 (-10.0%), from €829,181 to €746,406
- Staff costs -€58,557
down €58,557 (-8.0%), from €728,942 to €670,386
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 | €652,134 | €666,291 | +€14,157 | +2.2% |
| Fixed assets | 21/28 | €285,221 | €326,802 | +€41,582 | +14.6% |
| Tangible fixed assets | 22/27 | €284,111 | €325,693 | +€41,582 | +14.6% |
| Plant, machinery and equipment | 23 | €58,557 | €55,991 | -€2,565 | -4.4% |
| Furniture and vehicles | 24 | €18,413 | €13,714 | -€4,699 | -25.5% |
| Other tangible fixed assets | 26 | €207,141 | €255,987 | +€48,846 | +23.6% |
| Financial fixed assets | 28 | €1,110 | €1,110 | = | 0.0% |
| Current assets | 29/58 | €366,913 | €339,488 | -€27,425 | -7.5% |
| Stocks and contracts in progress | 3 | €44,001 | €60,109 | +€16,108 | +36.6% |
| Stocks | 30/36 | €44,001 | €60,109 | +€16,108 | +36.6% |
| Amounts receivable within one year | 40/41 | €55,147 | €60,190 | +€5,043 | +9.1% |
| Trade receivables | 40 | €47,749 | €51,073 | +€3,324 | +7.0% |
| Other amounts receivable | 41 | €7,399 | €9,118 | +€1,719 | +23.2% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,788 | €91,501 | -€21,288 | -18.9% |
| Deferred charges and accrued income | 490/1 | €54,976 | €27,688 | -€27,288 | -49.6% |
| Total equity and liabilities | 10/49 | €652,134 | €666,291 | +€14,157 | +2.2% |
| Equity | 10/15 | €134,334 | €117,142 | -€17,193 | -12.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €72,834 | €55,642 | -€17,193 | -23.6% |
| Non-distributable reserves | 130/1 | €7,184 | €7,184 | = | 0.0% |
| Legal reserve | 130 | €7,184 | €7,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,849 | €6,849 | = | 0.0% |
| Distributable reserves | 133 | €58,802 | €41,609 | -€17,193 | -29.2% |
| Amounts payable | 17/49 | €517,799 | €549,149 | +€31,350 | +6.1% |
| Amounts payable after more than one year | 17 | €122,636 | €141,869 | +€19,233 | +15.7% |
| Financial debts | 170/4 | €122,636 | €141,869 | +€19,233 | +15.7% |
| Amounts payable within one year | 42/48 | €392,532 | €404,422 | +€11,890 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €61,051 | €52,307 | -€8,744 | -14.3% |
| Financial debts | 43 | €25,000 | €33,414 | +€8,414 | +33.7% |
| Credit institutions | 430/8 | €25,000 | €33,414 | +€8,414 | +33.7% |
| Trade debts | 44 | €178,493 | €141,263 | -€37,229 | -20.9% |
| Suppliers | 440/4 | €178,493 | €141,263 | -€37,229 | -20.9% |
| Taxes, remuneration and social security | 45 | €100,534 | €89,154 | -€11,380 | -11.3% |
| Taxes | 450/3 | €25,426 | €25,188 | -€238 | -0.9% |
| Remuneration and social security | 454/9 | €75,108 | €63,966 | -€11,142 | -14.8% |
| Other amounts payable | 47/48 | €27,454 | €88,283 | +€60,830 | +221.6% |
| Accrued charges and deferred income | 492/3 | €2,632 | €2,858 | +€227 | +8.6% |
| Non-recurring operating income | 76A | €905 | - | -€905 | |
| Remuneration, social security and pensions | 62 | €728,942 | €670,386 | -€58,557 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,677 | €68,665 | +€3,988 | +6.2% |
| Other operating charges | 640/8 | €3,668 | €2,978 | -€690 | -18.8% |
| Gross operating margin | 9900 | €829,181 | €746,406 | -€82,775 | -10.0% |
| Operating profit (loss) | 9901 | €31,894 | €4,377 | -€27,517 | -86.3% |
| Financial income | 75/76B | €4,405 | €1,274 | -€3,131 | -71.1% |
| Recurring financial income | 75 | €4,405 | €1,274 | -€3,131 | -71.1% |
| Financial charges | 65/66B | €24,659 | €22,391 | -€2,268 | -9.2% |
| Recurring financial charges | 65 | €24,659 | €22,391 | -€2,268 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €11,640 | -€16,740 | -€28,380 | |
| Income taxes | 67/77 | €7,697 | €453 | -€7,244 | -94.1% |
| Profit (loss) for the period | 9904 | €3,943 | -€17,193 | -€21,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,943 | -€17,193 | -€21,136 |
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 3 October 2026 via checked.be.