NATHAN PROJECTS: 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.
NATHAN PROJECTS
Largest movements
- Cash -€64,782
down €64,782 (-89.9%), from €72,048 to €7,266
mainly Other debts (-€130,000) and Trade debts (-€12,786)
- Stocks and contracts -€42,622
down €42,622 (-100.0%), from €42,622 to €0
- Receivables within one year -€26,838
down €26,838 (-83.6%), from €32,107 to €5,269
of which Trade receivables: -€17,066
- Other debts -€130,000
down €130,000 (-65.0%), from €200,000 to €70,000
- Trade debts -€12,786
down €12,786 (-97.6%), from €13,101 to €315
- Profit (loss) carried forward +€8,109
up €8,109 (+11.0%), from -€73,944 to -€65,835
- Gross operating margin +€104,430
up €104,430, from -€87,234 to €17,195
- Other operating charges -€27,100
down €27,100 (-100.0%), from €27,100 to €0
- Write-downs +€26,709
up €26,709, from -€26,709 to €0
- Financial charges -€14,124
down €14,124 (-62.3%), from €22,658 to €8,534
- Staff costs +€7,302
up €7,302, from -€6,966 to €335
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 | €147,212 | €12,535 | -€134,677 | -91.5% |
| Fixed assets | 21/28 | €217 | €0 | -€217 | -100.0% |
| Tangible fixed assets | 22/27 | €217 | €0 | -€217 | -100.0% |
| Plant, machinery and equipment | 23 | €217 | €0 | -€217 | -100.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €146,995 | €12,535 | -€134,460 | -91.5% |
| Stocks and contracts in progress | 3 | €42,622 | €0 | -€42,622 | -100.0% |
| Stocks | 30/36 | €42,622 | €0 | -€42,622 | -100.0% |
| Amounts receivable within one year | 40/41 | €32,107 | €5,269 | -€26,838 | -83.6% |
| Trade receivables | 40 | €21,325 | €4,259 | -€17,066 | -80.0% |
| Other amounts receivable | 41 | €10,782 | €1,010 | -€9,772 | -90.6% |
| Cash at bank and in hand | 54/58 | €72,048 | €7,266 | -€64,782 | -89.9% |
| Deferred charges and accrued income | 490/1 | €218 | €0 | -€218 | -100.0% |
| Total equity and liabilities | 10/49 | €147,212 | €12,535 | -€134,677 | -91.5% |
| Equity | 10/15 | -€65,889 | -€57,780 | +€8,109 | +12.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,944 | -€65,835 | +€8,109 | +11.0% |
| Amounts payable | 17/49 | €213,101 | €70,315 | -€142,786 | -67.0% |
| Amounts payable within one year | 42/48 | €213,101 | €70,315 | -€142,786 | -67.0% |
| Trade debts | 44 | €13,101 | €315 | -€12,786 | -97.6% |
| Suppliers | 440/4 | €13,101 | €315 | -€12,786 | -97.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €200,000 | €70,000 | -€130,000 | -65.0% |
| Remuneration, social security and pensions | 62 | -€6,966 | €335 | +€7,302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €217 | -€419 | -65.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,709 | €0 | +€26,709 | |
| Other operating charges | 640/8 | €27,100 | €0 | -€27,100 | -100.0% |
| Gross operating margin | 9900 | -€87,234 | €17,195 | +€104,430 | |
| Operating profit (loss) | 9901 | -€81,294 | €16,643 | +€97,937 | |
| Financial income | 75/76B | €3,500 | €0 | -€3,500 | -100.0% |
| Recurring financial income | 75 | €3,500 | €0 | -€3,500 | -100.0% |
| Financial charges | 65/66B | €22,658 | €8,534 | -€14,124 | -62.3% |
| Recurring financial charges | 65 | €22,658 | €8,534 | -€14,124 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | -€100,453 | €8,109 | +€108,562 | |
| Income taxes | 67/77 | -€395 | €0 | +€395 | |
| Profit (loss) for the period | 9904 | -€100,057 | €8,109 | +€108,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€100,057 | €8,109 | +€108,166 |
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 12 October 2026 via checked.be.