NATHUR INVEST: 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.
NATHUR INVEST
Largest movements
- Financial fixed assets +€104.2m
up €104.2m (+765%), from €13.6m to €117.9m
- Current investments +€6.6m
up €6.6m (+130%), from €5.0m to €11.6m
- Cash -€1.8m
down €1.8m (-78.8%), from €2.3m to €487,501
mainly Investment in fixed assets (net) (-€104.2m) and Current investments (-€6.6m)
- Other debts +€105.4m
up €105.4m (+197%), from €53.4m to €158.8m
- Profit (loss) carried forward +€3.8m
up €3.8m (+6.8%), from -€55.4m to -€51.6m
- Financial income +€4.4m
up €4.4m (+1,341%), from €325,834 to €4.7m
of which Financial income: +€2.3m
- Gross operating margin -€9,878
down €9,878 (-27.1%), from -€36,463 to -€46,341
- Financial charges +€3,266
up €3,266 (+547%), from €597 to €3,863
- Other operating charges -€978
down €978 (-5.7%), from €17,258 to €16,281
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 | €21,301,575 | €130,494,215 | +€109.2m | +513% |
| Fixed assets | 21/28 | €13,627,098 | €117,871,886 | +€104.2m | +765% |
| Financial fixed assets | 28 | €13,627,098 | €117,871,886 | +€104.2m | +765% |
| Current assets | 29/58 | €7,674,478 | €12,622,328 | +€4.9m | +64.5% |
| Amounts receivable within one year | 40/41 | €321,665 | €532,157 | +€210,492 | +65.4% |
| Other amounts receivable | 41 | €321,665 | €532,157 | +€210,492 | +65.4% |
| Current investments | 50/53 | €5,042,954 | €11,592,954 | +€6.6m | +130% |
| Cash at bank and in hand | 54/58 | €2,301,664 | €487,501 | -€1.8m | -78.8% |
| Deferred charges and accrued income | 490/1 | €8,196 | €9,717 | +€1,521 | +18.6% |
| Total equity and liabilities | 10/49 | €21,301,575 | €130,494,215 | +€109.2m | +513% |
| Equity | 10/15 | -€52,119,192 | -€48,337,483 | +€3.8m | +7.3% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Capital | 10 | €3,000,000 | €3,000,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €300,000 | €300,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300,000 | €300,000 | = | 0.0% |
| Legal reserve | 130 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,419,192 | -€51,637,483 | +€3.8m | +6.8% |
| Amounts payable | 17/49 | €73,420,768 | €178,831,698 | +€105.4m | +144% |
| Amounts payable after more than one year | 17 | €20,000,000 | €20,000,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000,000 | €20,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,420,768 | €158,831,698 | +€105.4m | +197% |
| Other amounts payable | 47/48 | €53,420,768 | €158,831,698 | +€105.4m | +197% |
| Other operating charges | 640/8 | €17,258 | €16,281 | -€978 | -5.7% |
| Non-recurring operating charges | 66A | €65,472,627 | €848,000 | -€64.6m | -98.7% |
| Gross operating margin | 9900 | -€36,463 | -€46,341 | -€9,878 | -27.1% |
| Operating profit (loss) | 9901 | -€65,526,349 | -€910,622 | +€64.6m | +98.6% |
| Financial income | 75/76B | €325,834 | €4,696,194 | +€4.4m | +1,341% |
| Recurring financial income | 75 | €325,834 | €2,588,085 | +€2.3m | +694% |
| Non-recurring financial income | 76B | - | €2,108,109 | +€2.1m | |
| Financial charges | 65/66B | €597 | €3,863 | +€3,266 | +547% |
| Recurring financial charges | 65 | €597 | €3,863 | +€3,266 | +547% |
| Profit (loss) for the period before taxes | 9903 | -€65,201,113 | €3,781,709 | +€69.0m | |
| Profit (loss) for the period | 9904 | -€65,201,113 | €3,781,709 | +€69.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,201,113 | €3,781,709 | +€69.0m |
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 25 October 2026 via checked.be.