NATANS: 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.
NATANS
Largest movements
- Receivables within one year +€73,819
up €73,819 (+46.3%), from €159,379 to €233,198
of which Other amounts receivable: +€90,361
- Cash -€40,091
down €40,091 (-19.8%), from €202,183 to €162,091
mainly Receivables within one year (-€73,819) and Trade debts (-€49,131)
- Tangible fixed assets -€15,589
down €15,589 (-35.3%), from €44,210 to €28,621
of which Other tangible fixed assets: -€7,814
- Intangible fixed assets -€14,286
down €14,286 (-38.0%), from €37,612 to €23,327
- Trade debts -€49,131
down €49,131 (-77.9%), from €63,091 to €13,959
- Reserves +€45,756
up €45,756 (+19.6%), from €232,949 to €278,705
of which Distributable reserves: +€45,756
- Other debts +€22,494
up €22,494 (+51.3%), from €43,866 to €66,360
- Debts after one year -€14,559
down €14,559 (-57.0%), from €25,560 to €11,001
- Gross operating margin -€55,538
down €55,538 (-12.3%), from €453,246 to €397,707
- Staff costs +€23,400
up €23,400 (+8.8%), from €264,606 to €288,006
- Taxes +€6,534
up €6,534 (+71.4%), from €9,154 to €15,688
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 | €450,502 | €455,975 | +€5,473 | +1.2% |
| Fixed assets | 21/28 | €81,823 | €51,948 | -€29,875 | -36.5% |
| Intangible fixed assets | 21 | €37,612 | €23,327 | -€14,286 | -38.0% |
| Tangible fixed assets | 22/27 | €44,210 | €28,621 | -€15,589 | -35.3% |
| Plant, machinery and equipment | 23 | €17,558 | €11,843 | -€5,715 | -32.5% |
| Furniture and vehicles | 24 | €5,018 | €2,957 | -€2,061 | -41.1% |
| Other tangible fixed assets | 26 | €21,634 | €13,821 | -€7,814 | -36.1% |
| Current assets | 29/58 | €368,679 | €404,028 | +€35,348 | +9.6% |
| Stocks and contracts in progress | 3 | €5,470 | €5,300 | -€170 | -3.1% |
| Stocks | 30/36 | €5,470 | €5,300 | -€170 | -3.1% |
| Amounts receivable within one year | 40/41 | €159,379 | €233,198 | +€73,819 | +46.3% |
| Trade receivables | 40 | €17,041 | €500 | -€16,541 | -97.1% |
| Other amounts receivable | 41 | €142,338 | €232,698 | +€90,361 | +63.5% |
| Cash at bank and in hand | 54/58 | €202,183 | €162,091 | -€40,091 | -19.8% |
| Deferred charges and accrued income | 490/1 | €1,647 | €3,437 | +€1,790 | +109% |
| Total equity and liabilities | 10/49 | €450,502 | €455,975 | +€5,473 | +1.2% |
| Equity | 10/15 | €252,149 | €297,905 | +€45,756 | +18.1% |
| Contributions | 10/11 | €19,200 | €19,200 | = | 0.0% |
| Reserves | 13 | €232,949 | €278,705 | +€45,756 | +19.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €232,949 | €278,705 | +€45,756 | +19.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €198,353 | €158,070 | -€40,283 | -20.3% |
| Amounts payable after more than one year | 17 | €25,560 | €11,001 | -€14,559 | -57.0% |
| Financial debts | 170/4 | €25,560 | €11,001 | -€14,559 | -57.0% |
| Amounts payable within one year | 42/48 | €167,757 | €141,117 | -€26,640 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €14,436 | €14,559 | +€123 | +0.9% |
| Trade debts | 44 | €63,091 | €13,959 | -€49,131 | -77.9% |
| Suppliers | 440/4 | €63,091 | €13,959 | -€49,131 | -77.9% |
| Taxes, remuneration and social security | 45 | €46,364 | €46,239 | -€126 | -0.3% |
| Taxes | 450/3 | €2,331 | €1,961 | -€370 | -15.9% |
| Remuneration and social security | 454/9 | €44,034 | €44,278 | +€244 | +0.6% |
| Other amounts payable | 47/48 | €43,866 | €66,360 | +€22,494 | +51.3% |
| Accrued charges and deferred income | 492/3 | €5,036 | €5,953 | +€917 | +18.2% |
| Remuneration, social security and pensions | 62 | €264,606 | €288,006 | +€23,400 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,530 | €33,006 | -€4,523 | -12.1% |
| Other operating charges | 640/8 | €1,869 | €656 | -€1,213 | -64.9% |
| Gross operating margin | 9900 | €453,246 | €397,707 | -€55,538 | -12.3% |
| Operating profit (loss) | 9901 | €149,241 | €76,039 | -€73,203 | -49.0% |
| Financial income | 75/76B | €1,839 | €3,472 | +€1,633 | +88.8% |
| Recurring financial income | 75 | €1,839 | €3,472 | +€1,633 | +88.8% |
| Financial charges | 65/66B | €17,650 | €18,067 | +€417 | +2.4% |
| Recurring financial charges | 65 | €17,650 | €18,067 | +€417 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €133,431 | €61,444 | -€71,987 | -54.0% |
| Income taxes | 67/77 | €9,154 | €15,688 | +€6,534 | +71.4% |
| Profit (loss) for the period | 9904 | €124,277 | €45,756 | -€78,521 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €124,277 | €45,756 | -€78,521 | -63.2% |
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 13 October 2026 via checked.be.