NATHING: 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.
NATHING
Largest movements
- Tangible fixed assets -€8,247
down €8,247 (-1.8%), from €463,178 to €454,931
of which Land and buildings: -€12,582
- Debts after one year -€17,815
down €17,815 (-5.3%), from €334,481 to €316,666
of which Financial debts: -€16,614
- Trade debts -€11,197
down €11,197 (-21.2%), from €52,746 to €41,549
- Tax, wage and social debts +€10,705
up €10,705 (+52.4%), from €20,443 to €31,148
of which Taxes: +€7,100
- Current portion of long-term debt +€8,774
up €8,774 (+23.2%), from €37,867 to €46,641
- Gross operating margin +€20,402
up €20,402 (+20.5%), from €99,664 to €120,066
- Staff costs +€18,566
up €18,566 (+37.1%), from €50,090 to €68,657
- Depreciation +€4,704
up €4,704 (+19.8%), from €23,760 to €28,464
- Taxes -€2,756
down €2,756 (-40.1%), from €6,865 to €4,109
- Financial income +€1,309
up €1,309 (+97.0%), from €1,349 to €2,658
of which Financial income: +€1,309
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 | €555,901 | €547,517 | -€8,384 | -1.5% |
| Fixed assets | 21/28 | €464,328 | €456,081 | -€8,247 | -1.8% |
| Tangible fixed assets | 22/27 | €463,178 | €454,931 | -€8,247 | -1.8% |
| Land and buildings | 22 | €403,274 | €390,692 | -€12,582 | -3.1% |
| Plant, machinery and equipment | 23 | €11,735 | €22,207 | +€10,473 | +89.2% |
| Furniture and vehicles | 24 | €28,838 | €22,413 | -€6,425 | -22.3% |
| Leasing and similar rights | 25 | €15,529 | €11,268 | -€4,262 | -27.4% |
| Other tangible fixed assets | 26 | €3,802 | €8,350 | +€4,549 | +119.6% |
| Financial fixed assets | 28 | €1,150 | €1,150 | = | 0.0% |
| Current assets | 29/58 | €91,573 | €91,436 | -€137 | -0.1% |
| Stocks and contracts in progress | 3 | €3,100 | €4,300 | +€1,200 | +38.7% |
| Stocks | 30/36 | €3,100 | €4,300 | +€1,200 | +38.7% |
| Amounts receivable within one year | 40/41 | €78,615 | €80,889 | +€2,273 | +2.9% |
| Trade receivables | 40 | €78,101 | €79,250 | +€1,149 | +1.5% |
| Other amounts receivable | 41 | €514 | €1,639 | +€1,125 | +218.8% |
| Cash at bank and in hand | 54/58 | €7,291 | €4,125 | -€3,167 | -43.4% |
| Deferred charges and accrued income | 490/1 | €2,566 | €2,123 | -€444 | -17.3% |
| Total equity and liabilities | 10/49 | €555,901 | €547,517 | -€8,384 | -1.5% |
| Equity | 10/15 | €60,214 | €61,362 | +€1,148 | +1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €39,266 | €40,414 | +€1,148 | +2.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €39,266 | €40,414 | +€1,148 | +2.9% |
| Profit (loss) carried forward | 14 | €948 | €948 | = | 0.0% |
| Amounts payable | 17/49 | €495,687 | €486,155 | -€9,532 | -1.9% |
| Amounts payable after more than one year | 17 | €334,481 | €316,666 | -€17,815 | -5.3% |
| Financial debts | 170/4 | €305,666 | €289,051 | -€16,614 | -5.4% |
| Other amounts payable | 178/9 | €28,815 | €27,615 | -€1,200 | -4.2% |
| Amounts payable within one year | 42/48 | €161,056 | €169,338 | +€8,283 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €37,867 | €46,641 | +€8,774 | +23.2% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €52,746 | €41,549 | -€11,197 | -21.2% |
| Suppliers | 440/4 | €52,746 | €41,549 | -€11,197 | -21.2% |
| Taxes, remuneration and social security | 45 | €20,443 | €31,148 | +€10,705 | +52.4% |
| Taxes | 450/3 | €15,050 | €22,150 | +€7,100 | +47.2% |
| Remuneration and social security | 454/9 | €5,392 | €8,998 | +€3,605 | +66.9% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Non-recurring operating income | 76A | €6,055 | €0 | -€6,055 | -100.0% |
| Remuneration, social security and pensions | 62 | €50,090 | €68,657 | +€18,566 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,760 | €28,464 | +€4,704 | +19.8% |
| Other operating charges | 640/8 | €3,667 | €3,610 | -€57 | -1.6% |
| Gross operating margin | 9900 | €99,664 | €120,066 | +€20,402 | +20.5% |
| Operating profit (loss) | 9901 | €22,147 | €19,335 | -€2,811 | -12.7% |
| Financial income | 75/76B | €1,349 | €2,658 | +€1,309 | +97.0% |
| Recurring financial income | 75 | €1,349 | €2,658 | +€1,309 | +97.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €16,472 | €16,737 | +€265 | +1.6% |
| Recurring financial charges | 65 | €16,472 | €16,737 | +€265 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €7,024 | €5,257 | -€1,768 | -25.2% |
| Income taxes | 67/77 | €6,865 | €4,109 | -€2,756 | -40.1% |
| Profit (loss) for the period | 9904 | €160 | €1,148 | +€988 | +618.8% |
| Profit (loss) for the period to be appropriated | 9905 | €160 | €1,148 | +€988 | +618.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.