NATARON: 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.
NATARON
Largest movements
- Cash +€7,746
up €7,746 (+348.0%), from €2,226 to €9,972
mainly Net result for the year (+€23,079) and Depreciation (+€4,840)
- Tangible fixed assets -€4,840
down €4,840 (-24.5%), from €19,789 to €14,949
of which Furniture and vehicles: -€3,773
- Stocks and contracts -€3,795
down €3,795 (-27.8%), from €13,652 to €9,857
- Receivables within one year -€1,111
down €1,111 (-52.9%), from €2,100 to €989
of which Other amounts receivable: -€1,082
- Profit (loss) carried forward +€23,079
up €23,079 (+10.5%), from -€220,423 to -€197,344
- Short-term financial debts -€10,630
no longer reported in 2025 (was €10,630)
- Other debts -€7,812
down €7,812 (-7.0%), from €111,052 to €103,240
- Current portion of long-term debt -€3,529
no longer reported in 2025 (was €3,529)
- Trade debts -€3,108
down €3,108 (-66.6%), from €4,669 to €1,561
- Gross operating margin +€17,046
up €17,046 (+138.2%), from €12,335 to €29,381
- Depreciation +€2,482
up €2,482 (+105.3%), from €2,358 to €4,840
- Financial charges -€541
down €541 (-44.2%), from €1,224 to €683
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 | €37,767 | €35,767 | -€2,000 | -5.3% |
| Fixed assets | 21/28 | €19,789 | €14,949 | -€4,840 | -24.5% |
| Tangible fixed assets | 22/27 | €19,789 | €14,949 | -€4,840 | -24.5% |
| Plant, machinery and equipment | 23 | €1,596 | €529 | -€1,067 | -66.9% |
| Furniture and vehicles | 24 | €18,193 | €14,420 | -€3,773 | -20.7% |
| Current assets | 29/58 | €17,978 | €20,818 | +€2,840 | +15.8% |
| Stocks and contracts in progress | 3 | €13,652 | €9,857 | -€3,795 | -27.8% |
| Stocks | 30/36 | €13,652 | €9,857 | -€3,795 | -27.8% |
| Amounts receivable within one year | 40/41 | €2,100 | €989 | -€1,111 | -52.9% |
| Trade receivables | 40 | €29 | - | -€29 | |
| Other amounts receivable | 41 | €2,071 | €989 | -€1,082 | -52.2% |
| Cash at bank and in hand | 54/58 | €2,226 | €9,972 | +€7,746 | +348.0% |
| Total equity and liabilities | 10/49 | €37,767 | €35,767 | -€2,000 | -5.3% |
| Equity | 10/15 | -€92,113 | -€69,034 | +€23,079 | +25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,710 | €109,710 | = | 0.0% |
| Distributable reserves | 133 | €109,710 | €109,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€220,423 | -€197,344 | +€23,079 | +10.5% |
| Amounts payable | 17/49 | €129,880 | €104,801 | -€25,079 | -19.3% |
| Amounts payable within one year | 42/48 | €129,880 | €104,801 | -€25,079 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €3,529 | - | -€3,529 | |
| Financial debts | 43 | €10,630 | - | -€10,630 | |
| Credit institutions | 430/8 | €10,630 | - | -€10,630 | |
| Trade debts | 44 | €4,669 | €1,561 | -€3,108 | -66.6% |
| Suppliers | 440/4 | €4,669 | €1,561 | -€3,108 | -66.6% |
| Other amounts payable | 47/48 | €111,052 | €103,240 | -€7,812 | -7.0% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,358 | €4,840 | +€2,482 | +105.3% |
| Other operating charges | 640/8 | €974 | €926 | -€48 | -4.9% |
| Gross operating margin | 9900 | €12,335 | €29,381 | +€17,046 | +138.2% |
| Operating profit (loss) | 9901 | €9,003 | €23,615 | +€14,612 | +162.3% |
| Financial income | 75/76B | €151 | €149 | -€2 | -1.3% |
| Recurring financial income | 75 | €151 | €149 | -€2 | -1.3% |
| Financial charges | 65/66B | €1,224 | €683 | -€541 | -44.2% |
| Recurring financial charges | 65 | €1,224 | €683 | -€541 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €7,930 | €23,081 | +€15,151 | +191.1% |
| Income taxes | 67/77 | €2 | €2 | = | 0.0% |
| Profit (loss) for the period | 9904 | €7,928 | €23,079 | +€15,151 | +191.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,928 | €23,079 | +€15,151 | +191.1% |
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 10 October 2026 via checked.be.