NATCO: 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.
NATCO
Largest movements
- Tangible fixed assets -€29,190
down €29,190 (-18.7%), from €156,126 to €126,936
of which Other tangible fixed assets: -€23,912
- Cash -€18,108
down €18,108 (-47.6%), from €38,010 to €19,903
mainly Other debts (-€63,381) and Trade debts (-€16,859)
- Deferred charges and accrued income -€10,813
down €10,813 (-76.2%), from €14,199 to €3,386
- Other debts -€63,381
no longer reported in 2024 (was €63,381)
- Profit (loss) carried forward +€51,313
up €51,313 (+12.0%), from -€426,754 to -€375,441
- Trade debts -€16,859
down €16,859 (-38.4%), from €43,957 to €27,098
- Debts after one year -€15,346
down €15,346 (-3.8%), from €401,638 to €386,292
of which Financial debts: -€12,741
- Tax, wage and social debts -€9,847
down €9,847 (-28.2%), from €34,962 to €25,116
of which Remuneration and social security: -€9,445
- Gross operating margin +€105,374
up €105,374 (+53.2%), from €197,945 to €303,319
- Staff costs +€19,729
up €19,729 (+9.9%), from €199,759 to €219,488
- Financial income +€9,157
up €9,157 (+959.5%), from €954 to €10,112
of which Non-recurring financial income: +€7,301
- Depreciation +€4,716
up €4,716 (+16.3%), from €28,937 to €33,652
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €219,774 | €163,817 | -€55,958 | -25.5% |
| Fixed assets | 21/28 | €156,970 | €127,781 | -€29,190 | -18.6% |
| Tangible fixed assets | 22/27 | €156,126 | €126,936 | -€29,190 | -18.7% |
| Plant, machinery and equipment | 23 | €33,232 | €25,661 | -€7,571 | -22.8% |
| Furniture and vehicles | 24 | €3,676 | €5,970 | +€2,294 | +62.4% |
| Other tangible fixed assets | 26 | €119,218 | €95,306 | -€23,912 | -20.1% |
| Financial fixed assets | 28 | €845 | €845 | = | 0.0% |
| Current assets | 29/58 | €62,804 | €36,036 | -€26,768 | -42.6% |
| Stocks and contracts in progress | 3 | €8,764 | €10,289 | +€1,525 | +17.4% |
| Stocks | 30/36 | €8,764 | €10,289 | +€1,525 | +17.4% |
| Amounts receivable within one year | 40/41 | €1,831 | €2,458 | +€627 | +34.3% |
| Trade receivables | 40 | €1,349 | €2,458 | +€1,109 | +82.2% |
| Other amounts receivable | 41 | €482 | - | -€482 | |
| Cash at bank and in hand | 54/58 | €38,010 | €19,903 | -€18,108 | -47.6% |
| Deferred charges and accrued income | 490/1 | €14,199 | €3,386 | -€10,813 | -76.2% |
| Total equity and liabilities | 10/49 | €219,774 | €163,817 | -€55,958 | -25.5% |
| Equity | 10/15 | -€336,351 | -€287,429 | +€48,922 | +14.5% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€426,754 | -€375,441 | +€51,313 | +12.0% |
| Investment grants | 15 | €16,035 | €13,644 | -€2,391 | -14.9% |
| Amounts payable | 17/49 | €556,125 | €451,246 | -€104,879 | -18.9% |
| Amounts payable after more than one year | 17 | €401,638 | €386,292 | -€15,346 | -3.8% |
| Financial debts | 170/4 | €85,669 | €72,929 | -€12,741 | -14.9% |
| Other amounts payable | 178/9 | €315,968 | €313,363 | -€2,605 | -0.8% |
| Amounts payable within one year | 42/48 | €154,488 | €64,954 | -€89,534 | -58.0% |
| Current portion of amounts payable after more than one year | 42 | €12,187 | €12,741 | +€554 | +4.5% |
| Trade debts | 44 | €43,957 | €27,098 | -€16,859 | -38.4% |
| Suppliers | 440/4 | €43,957 | €27,098 | -€16,859 | -38.4% |
| Taxes, remuneration and social security | 45 | €34,962 | €25,116 | -€9,847 | -28.2% |
| Taxes | 450/3 | €4,979 | €4,577 | -€402 | -8.1% |
| Remuneration and social security | 454/9 | €29,984 | €20,538 | -€9,445 | -31.5% |
| Other amounts payable | 47/48 | €63,381 | - | -€63,381 | |
| Non-recurring operating income | 76A | €4,788 | - | -€4,788 | |
| Remuneration, social security and pensions | 62 | €199,759 | €219,488 | +€19,729 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,937 | €33,652 | +€4,716 | +16.3% |
| Other operating charges | 640/8 | €1,432 | €1,616 | +€184 | +12.9% |
| Gross operating margin | 9900 | €197,945 | €303,319 | +€105,374 | +53.2% |
| Operating profit (loss) | 9901 | -€32,182 | €48,563 | +€80,745 | |
| Financial income | 75/76B | €954 | €10,112 | +€9,157 | +959.5% |
| Recurring financial income | 75 | €954 | €2,811 | +€1,856 | +194.5% |
| Non-recurring financial income | 76B | - | €7,301 | +€7,301 | |
| Financial charges | 65/66B | €4,290 | €6,767 | +€2,477 | +57.7% |
| Recurring financial charges | 65 | €4,288 | €6,756 | +€2,468 | +57.6% |
| Non-recurring financial charges | 66B | €2 | €11 | +€9 | +420.9% |
| Profit (loss) for the period before taxes | 9903 | -€35,517 | €51,908 | +€87,425 | |
| Income taxes | 67/77 | €585 | €595 | +€9 | +1.6% |
| Profit (loss) for the period | 9904 | -€36,103 | €51,313 | +€87,416 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,103 | €51,313 | +€87,416 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.