NATHOM: 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.
NATHOM
Largest movements
- Cash -€45,433
down €45,433 (-36.1%), from €125,836 to €80,403
mainly Debts after one year (-€55,686) and Other debts (-€47,300)
- Tangible fixed assets -€5,659
down €5,659 (-82.4%), from €6,868 to €1,209
- Reserves +€83,840
up €83,840 (+36.3%), from €230,975 to €314,815
- Debts after one year -€55,686
down €55,686 (-100.0%), from €55,686 to €0
- Other debts -€47,300
down €47,300 (-97.7%), from €48,395 to €1,095
- Current portion of long-term debt -€40,620
down €40,620 (-100.0%), from €40,620 to €0
- Tax, wage and social debts +€10,985
up €10,985 (+37.6%), from €29,210 to €40,195
- Gross operating margin -€5,243
down €5,243 (-4.1%), from €128,434 to €123,192
- Taxes +€5,190
up €5,190 (+20.0%), from €25,907 to €31,097
- Financial charges -€1,804
down €1,804 (-56.2%), from €3,208 to €1,404
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 | €409,452 | €359,425 | -€50,027 | -12.2% |
| Fixed assets | 21/28 | €256,868 | €251,209 | -€5,659 | -2.2% |
| Tangible fixed assets | 22/27 | €6,868 | €1,209 | -€5,659 | -82.4% |
| Furniture and vehicles | 24 | €6,868 | €1,209 | -€5,659 | -82.4% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €152,584 | €108,216 | -€44,368 | -29.1% |
| Amounts receivable within one year | 40/41 | €24,529 | €27,085 | +€2,556 | +10.4% |
| Trade receivables | 40 | €24,529 | €27,000 | +€2,471 | +10.1% |
| Other amounts receivable | 41 | - | €85 | +€85 | |
| Cash at bank and in hand | 54/58 | €125,836 | €80,403 | -€45,433 | -36.1% |
| Deferred charges and accrued income | 490/1 | €2,219 | €728 | -€1,491 | -67.2% |
| Total equity and liabilities | 10/49 | €409,452 | €359,425 | -€50,027 | -12.2% |
| Equity | 10/15 | €233,475 | €317,315 | +€83,840 | +35.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €230,975 | €314,815 | +€83,840 | +36.3% |
| Distributable reserves | 133 | €230,975 | €314,815 | +€83,840 | +36.3% |
| Amounts payable | 17/49 | €175,976 | €42,110 | -€133,866 | -76.1% |
| Amounts payable after more than one year | 17 | €55,686 | €0 | -€55,686 | -100.0% |
| Financial debts | 170/4 | €55,686 | €0 | -€55,686 | -100.0% |
| Amounts payable within one year | 42/48 | €120,290 | €42,110 | -€78,180 | -65.0% |
| Current portion of amounts payable after more than one year | 42 | €40,620 | €0 | -€40,620 | -100.0% |
| Trade debts | 44 | €2,065 | €820 | -€1,244 | -60.3% |
| Suppliers | 440/4 | €2,065 | €820 | -€1,244 | -60.3% |
| Taxes, remuneration and social security | 45 | €29,210 | €40,195 | +€10,985 | +37.6% |
| Taxes | 450/3 | €29,210 | €40,195 | +€10,985 | +37.6% |
| Other amounts payable | 47/48 | €48,395 | €1,095 | -€47,300 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,659 | €5,659 | = | 0.0% |
| Other operating charges | 640/8 | €1,032 | €1,192 | +€160 | +15.5% |
| Gross operating margin | 9900 | €128,434 | €123,192 | -€5,243 | -4.1% |
| Operating profit (loss) | 9901 | €121,743 | €116,340 | -€5,403 | -4.4% |
| Financial income | 75/76B | €74 | €0 | -€74 | -100.0% |
| Recurring financial income | 75 | €74 | €0 | -€74 | -100.0% |
| Financial charges | 65/66B | €3,208 | €1,404 | -€1,804 | -56.2% |
| Recurring financial charges | 65 | €3,208 | €1,404 | -€1,804 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €118,609 | €114,937 | -€3,672 | -3.1% |
| Income taxes | 67/77 | €25,907 | €31,097 | +€5,190 | +20.0% |
| Profit (loss) for the period | 9904 | €92,702 | €83,840 | -€8,863 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €92,702 | €83,840 | -€8,863 | -9.6% |
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 9 October 2026 via checked.be.