NATE: 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.
NATE
Largest movements
- Current investments +€21,510
up €21,510 (+29.2%), from €73,750 to €95,260
- Tangible fixed assets +€3,290
up €3,290 (+19.1%), from €17,183 to €20,473
of which Land and buildings: +€3,927
- Deferred charges and accrued income +€2,388
up €2,388 (+662%), from €361 to €2,749
- Cash -€1,674
down €1,674 (-4.1%), from €40,408 to €38,733
mainly Current investments (-€21,510) and Investment in fixed assets (net) (-€7,258)
- Reserves +€17,056
up €17,056 (+16.2%), from €104,998 to €122,055
of which Distributable reserves: +€17,056
- Other debts +€7,212
up €7,212 (+177%), from €4,069 to €11,281
- Gross operating margin +€3,854
up €3,854 (+15.1%), from €25,535 to €29,388
- Taxes +€561
up €561 (+7.0%), from €8,002 to €8,563
- Depreciation +€538
up €538 (+15.7%), from €3,430 to €3,968
- Financial income +€331
up €331 (+26.6%), from €1,243 to €1,575
- Financial charges +€295
up €295 (+52.6%), from €561 to €856
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 | €131,855 | €157,216 | +€25,362 | +19.2% |
| Fixed assets | 21/28 | €17,183 | €20,473 | +€3,290 | +19.1% |
| Tangible fixed assets | 22/27 | €17,183 | €20,473 | +€3,290 | +19.1% |
| Land and buildings | 22 | €15,274 | €19,200 | +€3,927 | +25.7% |
| Plant, machinery and equipment | 23 | €1,910 | €1,273 | -€637 | -33.3% |
| Current assets | 29/58 | €114,672 | €136,743 | +€22,071 | +19.2% |
| Amounts receivable within one year | 40/41 | €153 | - | -€153 | |
| Other amounts receivable | 41 | €153 | - | -€153 | |
| Current investments | 50/53 | €73,750 | €95,260 | +€21,510 | +29.2% |
| Cash at bank and in hand | 54/58 | €40,408 | €38,733 | -€1,674 | -4.1% |
| Deferred charges and accrued income | 490/1 | €361 | €2,749 | +€2,388 | +662% |
| Total equity and liabilities | 10/49 | €131,855 | €157,216 | +€25,362 | +19.2% |
| Equity | 10/15 | €123,598 | €140,655 | +€17,056 | +13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,998 | €122,055 | +€17,056 | +16.2% |
| Tax-exempt reserves | 132 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €101,198 | €118,254 | +€17,056 | +16.9% |
| Amounts payable | 17/49 | €8,256 | €16,562 | +€8,305 | +101% |
| Amounts payable within one year | 42/48 | €8,256 | €16,497 | +€8,240 | +99.8% |
| Trade debts | 44 | €237 | €1,314 | +€1,077 | +454% |
| Suppliers | 440/4 | €237 | €1,314 | +€1,077 | +454% |
| Taxes, remuneration and social security | 45 | €3,950 | €3,901 | -€49 | -1.2% |
| Taxes | 450/3 | €2,950 | €3,901 | +€951 | +32.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €4,069 | €11,281 | +€7,212 | +177% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,430 | €3,968 | +€538 | +15.7% |
| Other operating charges | 640/8 | €580 | €520 | -€61 | -10.4% |
| Gross operating margin | 9900 | €25,535 | €29,388 | +€3,854 | +15.1% |
| Operating profit (loss) | 9901 | €21,525 | €24,901 | +€3,376 | +15.7% |
| Financial income | 75/76B | €1,243 | €1,575 | +€331 | +26.6% |
| Recurring financial income | 75 | €1,243 | €1,575 | +€331 | +26.6% |
| Financial charges | 65/66B | €561 | €856 | +€295 | +52.6% |
| Recurring financial charges | 65 | €561 | €856 | +€295 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €22,207 | €25,619 | +€3,412 | +15.4% |
| Income taxes | 67/77 | €8,002 | €8,563 | +€561 | +7.0% |
| Profit (loss) for the period | 9904 | €14,205 | €17,056 | +€2,852 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,205 | €17,056 | +€2,852 | +20.1% |
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 15 October 2026 via checked.be.