NATHA: 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.
NATHA
Largest movements
- Tangible fixed assets +€381,980
up €381,980 (+29.5%), from €1.3m to €1.7m
of which Land and buildings: +€387,985
- Cash -€375,155
down €375,155 (-63.6%), from €589,906 to €214,751
mainly Investment in fixed assets (net) (-€396,381) and Deferred charges and accrued income (-€1,125)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€467,169
down €467,169 (-99.9%), from €467,605 to €436
of which Non-recurring financial income: -€447,286
- Taxes -€47,001
down €47,001 (-99.8%), from €47,098 to €98
- Gross operating margin -€40,391
down €40,391 (-62.2%), from €64,973 to €24,582
- Depreciation +€3,602
up €3,602 (+33.3%), from €10,799 to €14,401
- Other operating charges +€1,437
up €1,437 (+43.2%), from €3,324 to €4,761
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 | €1,887,130 | €1,893,536 | +€6,406 | +0.3% |
| Fixed assets | 21/28 | €1,293,105 | €1,675,085 | +€381,980 | +29.5% |
| Tangible fixed assets | 22/27 | €1,293,105 | €1,675,085 | +€381,980 | +29.5% |
| Land and buildings | 22 | €957,372 | €1,345,357 | +€387,985 | +40.5% |
| Plant, machinery and equipment | 23 | €2,863 | €9,313 | +€6,450 | +225.3% |
| Furniture and vehicles | 24 | - | €634 | +€634 | |
| Other tangible fixed assets | 26 | €332,870 | €319,781 | -€13,089 | -3.9% |
| Current assets | 29/58 | €594,024 | €218,451 | -€375,573 | -63.2% |
| Amounts receivable within one year | 40/41 | €4,118 | €2,575 | -€1,543 | -37.5% |
| Other amounts receivable | 41 | €4,118 | €2,575 | -€1,543 | -37.5% |
| Cash at bank and in hand | 54/58 | €589,906 | €214,751 | -€375,155 | -63.6% |
| Deferred charges and accrued income | 490/1 | - | €1,125 | +€1,125 | |
| Total equity and liabilities | 10/49 | €1,887,130 | €1,893,536 | +€6,406 | +0.3% |
| Equity | 10/15 | €1,887,054 | €1,892,671 | +€5,616 | +0.3% |
| Reserves | 13 | €1,173,421 | €1,173,421 | = | 0.0% |
| Distributable reserves | 133 | €1,173,421 | €1,173,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | €713,633 | €719,250 | +€5,616 | +0.8% |
| Amounts payable | 17/49 | €75 | €865 | +€790 | +1047.4% |
| Amounts payable within one year | 42/48 | €75 | €865 | +€790 | +1047.4% |
| Trade debts | 44 | €13 | €17 | +€5 | +35.6% |
| Suppliers | 440/4 | €13 | €17 | +€5 | +35.6% |
| Taxes, remuneration and social security | 45 | - | €835 | +€835 | |
| Taxes | 450/3 | - | €835 | +€835 | |
| Other amounts payable | 47/48 | €63 | €13 | -€50 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,799 | €14,401 | +€3,602 | +33.3% |
| Other operating charges | 640/8 | €3,324 | €4,761 | +€1,437 | +43.2% |
| Gross operating margin | 9900 | €64,973 | €24,582 | -€40,391 | -62.2% |
| Operating profit (loss) | 9901 | €50,850 | €5,420 | -€45,429 | -89.3% |
| Financial income | 75/76B | €467,605 | €436 | -€467,169 | -99.9% |
| Recurring financial income | 75 | €20,319 | €436 | -€19,883 | -97.9% |
| Non-recurring financial income | 76B | €447,286 | - | -€447,286 | |
| Financial charges | 65/66B | €492 | €142 | -€350 | -71.1% |
| Recurring financial charges | 65 | €492 | €142 | -€350 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | €517,963 | €5,714 | -€512,249 | -98.9% |
| Income taxes | 67/77 | €47,098 | €98 | -€47,001 | -99.8% |
| Profit (loss) for the period | 9904 | €470,865 | €5,616 | -€465,248 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €470,865 | €5,616 | -€465,248 | -98.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.