NATHAN VILAR: 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 VILAR
Largest movements
- Stocks and contracts +€37,188
up €37,188 (+39.6%), from €93,972 to €131,159
- Tangible fixed assets -€31,258
down €31,258 (-9.7%), from €321,044 to €289,785
of which Land and buildings: -€16,513
- Receivables within one year -€5,196
down €5,196 (-25.4%), from €20,458 to €15,262
of which Trade receivables: -€5,390
- Other debts +€11,486
up €11,486 (+362%), from €3,174 to €14,661
- Short-term financial debts -€11,139
down €11,139 (-40.9%), from €27,254 to €16,115
- Debts after one year -€9,888
down €9,888 (-2.9%), from €336,603 to €326,715
- Current portion of long-term debt +€9,774
up €9,774 (+27.4%), from €35,731 to €45,505
- Tax, wage and social debts -€9,203
down €9,203 (-51.6%), from €17,852 to €8,649
of which Taxes: -€7,203
- Financial charges +€8,375
up €8,375 (+86.2%), from €9,716 to €18,091
- Depreciation +€4,818
up €4,818 (+18.2%), from €26,441 to €31,258
- Taxes -€3,730
down €3,730 (-59.4%), from €6,277 to €2,547
- Gross operating margin -€3,440
down €3,440 (-5.3%), from €64,827 to €61,387
- Other operating charges +€847
up €847 (+126%), from €675 to €1,522
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 | €473,026 | €474,801 | +€1,775 | +0.4% |
| Fixed assets | 21/28 | €330,794 | €299,536 | -€31,258 | -9.4% |
| Tangible fixed assets | 22/27 | €321,044 | €289,785 | -€31,258 | -9.7% |
| Land and buildings | 22 | €284,621 | €268,108 | -€16,513 | -5.8% |
| Plant, machinery and equipment | 23 | €4,283 | €3,459 | -€824 | -19.2% |
| Furniture and vehicles | 24 | €30,515 | €16,846 | -€13,669 | -44.8% |
| Other tangible fixed assets | 26 | €1,624 | €1,372 | -€252 | -15.5% |
| Financial fixed assets | 28 | €9,750 | €9,751 | +€1 | 0.0% |
| Current assets | 29/58 | €142,233 | €175,265 | +€33,033 | +23.2% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Trade receivables | 290 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | - | €25,000 | +€25,000 | |
| Stocks and contracts in progress | 3 | €93,972 | €131,159 | +€37,188 | +39.6% |
| Stocks | 30/36 | €93,972 | €131,159 | +€37,188 | +39.6% |
| Amounts receivable within one year | 40/41 | €20,458 | €15,262 | -€5,196 | -25.4% |
| Trade receivables | 40 | €18,199 | €12,809 | -€5,390 | -29.6% |
| Other amounts receivable | 41 | €2,259 | €2,453 | +€194 | +8.6% |
| Cash at bank and in hand | 54/58 | €901 | €2,299 | +€1,398 | +155% |
| Deferred charges and accrued income | 490/1 | €1,902 | €1,545 | -€357 | -18.8% |
| Total equity and liabilities | 10/49 | €473,026 | €474,801 | +€1,775 | +0.4% |
| Equity | 10/15 | €48,788 | €56,757 | +€7,968 | +16.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €37,839 | €44,357 | +€6,517 | +17.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €37,839 | €44,357 | +€6,517 | +17.2% |
| Profit (loss) carried forward | 14 | -€1,451 | €0 | +€1,451 | |
| Amounts payable | 17/49 | €424,238 | €418,044 | -€6,193 | -1.5% |
| Amounts payable after more than one year | 17 | €336,603 | €326,715 | -€9,888 | -2.9% |
| Financial debts | 170/4 | €336,603 | €326,715 | -€9,888 | -2.9% |
| Amounts payable within one year | 42/48 | €84,635 | €87,513 | +€2,878 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €35,731 | €45,505 | +€9,774 | +27.4% |
| Financial debts | 43 | €27,254 | €16,115 | -€11,139 | -40.9% |
| Credit institutions | 430/8 | €27,254 | €16,115 | -€11,139 | -40.9% |
| Trade debts | 44 | €623 | €2,583 | +€1,960 | +314% |
| Suppliers | 440/4 | €623 | €2,583 | +€1,960 | +314% |
| Taxes, remuneration and social security | 45 | €17,852 | €8,649 | -€9,203 | -51.6% |
| Taxes | 450/3 | €15,852 | €8,649 | -€7,203 | -45.4% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €3,174 | €14,661 | +€11,486 | +362% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,817 | +€817 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,441 | €31,258 | +€4,818 | +18.2% |
| Other operating charges | 640/8 | €675 | €1,522 | +€847 | +126% |
| Gross operating margin | 9900 | €64,827 | €61,387 | -€3,440 | -5.3% |
| Operating profit (loss) | 9901 | €37,711 | €28,607 | -€9,104 | -24.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.5% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.5% |
| Financial charges | 65/66B | €9,716 | €18,091 | +€8,375 | +86.2% |
| Recurring financial charges | 65 | €9,716 | €18,091 | +€8,375 | +86.2% |
| Profit (loss) for the period before taxes | 9903 | €27,996 | €10,515 | -€17,481 | -62.4% |
| Income taxes | 67/77 | €6,277 | €2,547 | -€3,730 | -59.4% |
| Profit (loss) for the period | 9904 | €21,720 | €7,968 | -€13,752 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,720 | €7,968 | -€13,752 | -63.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.