NATAN: 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
NATAN
NACE 14.210, Manufacture of outerwear
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€256,496
2024 · €877,833-€621,336
Equity
€5.8m
2024 · €5.6m+€189,496
Cash
€622,351
2024 · €468,486+€153,865
Balance sheet total
€12.7m
2024 · €11.5m+€1.2m
Largest movements
Assets
- Receivables within one year +€501,608
up €501,608 (+30.1%), from €1.7m to €2.2m
of which Trade receivables: +€408,095
- Deferred charges and accrued income +€265,950
up €265,950 (+33.3%), from €799,771 to €1.1m
- Tangible fixed assets +€167,386
up €167,386 (+8.7%), from €1.9m to €2.1m
of which Plant, machinery and equipment: +€128,907
- Cash +€153,865
up €153,865 (+32.8%), from €468,486 to €622,351
mainly Short-term financial debts (+€1.3m) and Depreciation (+€354,810)
Equity and liabilities
- Short-term financial debts +€1.3m
new in 2025: €1.3m
- Trade debts -€520,783
down €520,783 (-23.4%), from €2.2m to €1.7m
- Debts after one year +€345,302
up €345,302 (+74.2%), from €465,167 to €810,469
- Other debts -€191,024
down €191,024 (-40.4%), from €473,250 to €282,226
- Reserves +€189,496
up €189,496 (+3.6%), from €5.3m to €5.5m
of which Tax-exempt reserves: +€421,000
Income statement
- Goods and materials +€1.0m
up €1.0m (+15.4%), from €6.7m to €7.8m
of which Change in stocks: decrease (increase): +€1.4m
- Turnover +€985,228
up €985,228 (+6.1%), from €16.1m to €17.1m
- Services and other goods +€949,008
up €949,008 (+26.7%), from €3.5m to €4.5m
- Staff costs +€286,855
up €286,855 (+8.1%), from €3.5m to €3.8m
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
€877,833
Turnover
+€985,228
Other operating income
-€81,423
Goods and materials
-€1.0m
Services and other goods
-€949,008
Staff costs
-€286,855
Depreciation
-€15,912
Other operating charges
+€37,613
Other operating items
+€732,560
Financial income
-€8,879
Financial charges
-€47,367
Taxes
+€49,317
Result 2025
€256,496
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
-€1.0m
Investment
-€533,552
Financing
+€1.7m
Cash 2024
€468,486
From operations (derived)
-€1.0m
Net result for the year
+€256,496
Depreciation
+€354,810
Stocks and contracts
-€53,446
Receivables within one year
-€501,608
Deferred charges and accrued income
-€265,950
Trade debts
-€520,783
Tax, wage and social debts
-€21,286
Advances received
+€69,282
Other debts
-€191,024
Accrued charges and deferred income
-€149,569
Investment (derived)
-€533,552
Investment in fixed assets (net)
-€578,082
Current investments
+€44,530
Financing
+€1.7m
Debts after one year
+€345,302
Current portion of long-term debt
+€158,277
Short-term financial debts
+€1.3m
Contributions, distributions and other
-€67,000
Cash 2025
€622,351
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,549,779 | €12,703,390 | +€1.2m | +10.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,983,887 | €2,207,159 | +€223,272 | +11.3% |
| Intangible fixed assets | 21 | €40,073 | €95,959 | +€55,886 | +139.5% |
| Tangible fixed assets | 22/27 | €1,913,537 | €2,080,924 | +€167,386 | +8.7% |
| Plant, machinery and equipment | 23 | €11,714 | €140,621 | +€128,907 | +1100.5% |
| Furniture and vehicles | 24 | €331,266 | €355,694 | +€24,428 | +7.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,570,557 | €1,584,608 | +€14,051 | +0.9% |
| Financial fixed assets | 28 | €30,277 | €30,277 | = | 0.0% |
| Other financial fixed assets | 284/8 | €30,277 | €30,277 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €30,277 | €30,277 | = | 0.0% |
| Current assets | 29/58 | €9,565,892 | €10,496,230 | +€930,339 | +9.7% |
| Stocks and contracts in progress | 3 | €5,909,925 | €5,963,371 | +€53,446 | +0.9% |
| Stocks | 30/36 | €5,909,925 | €5,963,371 | +€53,446 | +0.9% |
| Goods purchased for resale | 34 | €5,909,925 | €5,963,371 | +€53,446 | +0.9% |
| Amounts receivable within one year | 40/41 | €1,666,466 | €2,168,074 | +€501,608 | +30.1% |
| Trade receivables | 40 | €1,608,025 | €2,016,119 | +€408,095 | +25.4% |
| Other amounts receivable | 41 | €58,441 | €151,954 | +€93,513 | +160.0% |
| Current investments | 50/53 | €721,243 | €676,713 | -€44,530 | -6.2% |
| Own shares | 50 | €721,243 | €676,713 | -€44,530 | -6.2% |
| Cash at bank and in hand | 54/58 | €468,486 | €622,351 | +€153,865 | +32.8% |
| Deferred charges and accrued income | 490/1 | €799,771 | €1,065,721 | +€265,950 | +33.3% |
| Total equity and liabilities | 10/49 | €11,549,779 | €12,703,390 | +€1.2m | +10.0% |
| Equity | 10/15 | €5,579,379 | €5,768,876 | +€189,496 | +3.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €5,329,379 | €5,518,876 | +€189,496 | +3.6% |
| Non-distributable reserves | 130/1 | €1,163,543 | €1,163,543 | = | 0.0% |
| Legal reserve | 130 | €115,000 | €115,000 | = | 0.0% |
| Own shares acquired | 1312 | €1,048,543 | €1,048,543 | = | 0.0% |
| Tax-exempt reserves | 132 | €517,830 | €938,830 | +€421,000 | +81.3% |
| Distributable reserves | 133 | €3,648,006 | €3,416,503 | -€231,504 | -6.3% |
| Amounts payable | 17/49 | €5,970,400 | €6,934,514 | +€964,114 | +16.1% |
| Amounts payable after more than one year | 17 | €465,167 | €810,469 | +€345,302 | +74.2% |
| Financial debts | 170/4 | €465,167 | €810,469 | +€345,302 | +74.2% |
| Credit institutions | 173 | €65,167 | €410,469 | +€345,302 | +529.9% |
| Other loans | 174 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,753,286 | €4,521,667 | +€768,381 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €172,652 | €330,928 | +€158,277 | +91.7% |
| Financial debts | 43 | - | €1,273,915 | +€1.3m | |
| Credit institutions | 430/8 | - | €1,273,915 | +€1.3m | |
| Trade debts | 44 | €2,224,213 | €1,703,430 | -€520,783 | -23.4% |
| Suppliers | 440/4 | €2,224,213 | €1,703,430 | -€520,783 | -23.4% |
| Advances received on contracts in progress | 46 | €163,570 | €232,851 | +€69,282 | +42.4% |
| Taxes, remuneration and social security | 45 | €719,601 | €698,316 | -€21,286 | -3.0% |
| Taxes | 450/3 | €336,395 | €317,939 | -€18,456 | -5.5% |
| Remuneration and social security | 454/9 | €383,206 | €380,377 | -€2,830 | -0.7% |
| Other amounts payable | 47/48 | €473,250 | €282,226 | -€191,024 | -40.4% |
| Accrued charges and deferred income | 492/3 | €1,751,947 | €1,602,379 | -€149,569 | -8.5% |
| Operating income | 70/76A | €16,376,758 | €17,194,063 | +€817,305 | +5.0% |
| Turnover | 70 | €16,126,434 | €17,111,662 | +€985,228 | +6.1% |
| Other operating income | 74 | €160,324 | €78,901 | -€81,423 | -50.8% |
| Non-recurring operating income | 76A | €90,000 | €3,500 | -€86,500 | -96.1% |
| Operating charges | 60/66A | €15,055,995 | €16,487,708 | +€1.4m | +9.5% |
| Goods for resale, raw materials and consumables | 60 | €6,732,837 | €7,769,449 | +€1.0m | +15.4% |
| Purchases | 600/8 | €8,150,133 | €7,822,895 | -€327,238 | -4.0% |
| Change in stocks: decrease (increase) | 609 | -€1,417,296 | -€53,446 | +€1.4m | +96.2% |
| Services and other goods | 61 | €3,548,444 | €4,497,452 | +€949,008 | +26.7% |
| Remuneration, social security and pensions | 62 | €3,529,896 | €3,816,751 | +€286,855 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €338,898 | €354,810 | +€15,912 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €68,055 | €30,442 | -€37,613 | -55.3% |
| Non-recurring operating charges | 66A | €837,865 | €18,804 | -€819,060 | -97.8% |
| Operating profit (loss) | 9901 | €1,320,763 | €706,354 | -€614,409 | -46.5% |
| Financial income | 75/76B | €19,584 | €10,706 | -€8,879 | -45.3% |
| Recurring financial income | 75 | €19,584 | €10,706 | -€8,879 | -45.3% |
| Income from current assets | 751 | - | €2,909 | +€2,909 | |
| Other financial income | 752/9 | €19,584 | €7,797 | -€11,787 | -60.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €279,563 | €326,929 | +€47,367 | +16.9% |
| Recurring financial charges | 65 | €279,563 | €326,929 | +€47,367 | +16.9% |
| Debt charges | 650 | €26,593 | €102,321 | +€75,728 | +284.8% |
| Other financial charges | 652/9 | €252,969 | €224,608 | -€28,362 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €1,060,785 | €390,131 | -€670,654 | -63.2% |
| Income taxes | 67/77 | €182,952 | €133,635 | -€49,317 | -27.0% |
| Taxes | 670/3 | €182,952 | €133,635 | -€49,317 | -27.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €877,833 | €256,496 | -€621,336 | -70.8% |
| Transfer to tax-exempt reserves | 689 | €517,830 | €421,000 | -€96,830 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €360,003 | -€164,504 | -€524,506 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.