NATCHEZ: 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.
NATCHEZ
Largest movements
- Current investments +€102,590
new in 2025: €102,590
- Receivables within one year -€41,975
no longer reported in 2025 (was €41,975)
- Cash +€16,903
up €16,903 (+47.9%), from €35,255 to €52,158
mainly Net result for the year (+€76,696) and Receivables within one year (+€41,975)
- Tangible fixed assets -€7,538
down €7,538 (-18.7%), from €40,205 to €32,666
- Reserves +€76,696
up €76,696 (+185.6%), from €41,317 to €118,013
- Other debts -€46,353
down €46,353 (-98.6%), from €47,006 to €653
- Tax, wage and social debts +€39,967
up €39,967 (+159.4%), from €25,072 to €65,039
- Gross operating margin +€58,438
up €58,438 (+89.1%), from €65,621 to €124,059
- Taxes +€17,272
up €17,272 (+88.9%), from €19,426 to €36,698
- Depreciation +€4,491
up €4,491 (+100.5%), from €4,467 to €8,958
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 | €117,435 | €188,815 | +€71,380 | +60.8% |
| Fixed assets | 21/28 | €40,205 | €32,666 | -€7,538 | -18.7% |
| Tangible fixed assets | 22/27 | €40,205 | €32,666 | -€7,538 | -18.7% |
| Furniture and vehicles | 24 | €40,205 | €32,666 | -€7,538 | -18.7% |
| Current assets | 29/58 | €77,230 | €156,149 | +€78,919 | +102.2% |
| Amounts receivable within one year | 40/41 | €41,975 | - | -€41,975 | |
| Trade receivables | 40 | €41,975 | - | -€41,975 | |
| Current investments | 50/53 | - | €102,590 | +€102,590 | |
| Cash at bank and in hand | 54/58 | €35,255 | €52,158 | +€16,903 | +47.9% |
| Deferred charges and accrued income | 490/1 | - | €1,400 | +€1,400 | |
| Total equity and liabilities | 10/49 | €117,435 | €188,815 | +€71,380 | +60.8% |
| Equity | 10/15 | €44,317 | €121,013 | +€76,696 | +173.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €41,317 | €118,013 | +€76,696 | +185.6% |
| Distributable reserves | 133 | €41,317 | €118,013 | +€76,696 | +185.6% |
| Amounts payable | 17/49 | €73,118 | €67,802 | -€5,316 | -7.3% |
| Amounts payable within one year | 42/48 | €73,118 | €67,802 | -€5,316 | -7.3% |
| Trade debts | 44 | €1,040 | €2,110 | +€1,070 | +102.9% |
| Suppliers | 440/4 | €1,040 | €2,110 | +€1,070 | +102.9% |
| Taxes, remuneration and social security | 45 | €25,072 | €65,039 | +€39,967 | +159.4% |
| Taxes | 450/3 | €25,072 | €65,039 | +€39,967 | +159.4% |
| Other amounts payable | 47/48 | €47,006 | €653 | -€46,353 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,467 | €8,958 | +€4,491 | +100.5% |
| Other operating charges | 640/8 | €387 | €1,159 | +€772 | +199.3% |
| Gross operating margin | 9900 | €65,621 | €124,059 | +€58,438 | +89.1% |
| Operating profit (loss) | 9901 | €60,766 | €113,942 | +€53,175 | +87.5% |
| Financial income | 75/76B | - | €198 | +€198 | |
| Recurring financial income | 75 | - | €198 | +€198 | |
| Financial charges | 65/66B | €23 | €746 | +€722 | +3081.9% |
| Recurring financial charges | 65 | €23 | €746 | +€722 | +3081.9% |
| Profit (loss) for the period before taxes | 9903 | €60,743 | €113,394 | +€52,651 | +86.7% |
| Income taxes | 67/77 | €19,426 | €36,698 | +€17,272 | +88.9% |
| Profit (loss) for the period | 9904 | €41,317 | €76,696 | +€35,379 | +85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,317 | €76,696 | +€35,379 | +85.6% |
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.