NATICA: 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.
NATICA
Largest movements
- Cash +€64,690
up €64,690 (+35.5%), from €182,117 to €246,808
mainly Depreciation (+€89,201) and Net result for the year (+€38,895)
- Tangible fixed assets -€52,251
down €52,251 (-2.8%), from €1.9m to €1.8m
of which Land and buildings: -€61,971
- Reserves +€38,866
up €38,866 (+8.5%), from €455,338 to €494,204
of which Distributable reserves: +€50,450
- Other debts -€20,863
down €20,863 (-8.5%), from €246,524 to €225,661
- Gross operating margin +€50,025
up €50,025 (+35.0%), from €143,007 to €193,032
- Other operating charges +€16,928
up €16,928 (+158.7%), from €10,666 to €27,594
- Taxes +€9,588
up €9,588 (+148.8%), from €6,442 to €16,030
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 | €2,047,114 | €2,061,322 | +€14,208 | +0.7% |
| Fixed assets | 21/28 | €1,862,671 | €1,810,421 | -€52,251 | -2.8% |
| Tangible fixed assets | 22/27 | €1,862,671 | €1,810,421 | -€52,251 | -2.8% |
| Land and buildings | 22 | €1,773,598 | €1,711,627 | -€61,971 | -3.5% |
| Plant, machinery and equipment | 23 | €55,527 | €42,902 | -€12,625 | -22.7% |
| Furniture and vehicles | 24 | €33,546 | €55,892 | +€22,346 | +66.6% |
| Current assets | 29/58 | €184,443 | €250,902 | +€66,458 | +36.0% |
| Amounts receivable within one year | 40/41 | - | €2,466 | +€2,466 | |
| Trade receivables | 40 | - | €2,352 | +€2,352 | |
| Other amounts receivable | 41 | - | €113 | +€113 | |
| Cash at bank and in hand | 54/58 | €182,117 | €246,808 | +€64,690 | +35.5% |
| Deferred charges and accrued income | 490/1 | €2,326 | €1,628 | -€698 | -30.0% |
| Total equity and liabilities | 10/49 | €2,047,114 | €2,061,322 | +€14,208 | +0.7% |
| Equity | 10/15 | €692,206 | €731,100 | +€38,895 | +5.6% |
| Contributions | 10/11 | €236,796 | €236,796 | = | 0.0% |
| Capital | 10 | €236,796 | €236,796 | = | 0.0% |
| Issued capital | 100 | €236,796 | €236,796 | = | 0.0% |
| Reserves | 13 | €455,338 | €494,204 | +€38,866 | +8.5% |
| Non-distributable reserves | 130/1 | €23,680 | €23,680 | = | 0.0% |
| Legal reserve | 130 | €23,680 | €23,680 | = | 0.0% |
| Tax-exempt reserves | 132 | €289,658 | €278,074 | -€11,584 | -4.0% |
| Distributable reserves | 133 | €142,000 | €192,450 | +€50,450 | +35.5% |
| Profit (loss) carried forward | 14 | €72 | €101 | +€29 | +40.2% |
| Provisions and deferred taxes | 16 | €149,130 | €143,163 | -€5,968 | -4.0% |
| Deferred taxes | 168 | €149,130 | €143,163 | -€5,968 | -4.0% |
| Amounts payable | 17/49 | €1,205,779 | €1,187,059 | -€18,719 | -1.6% |
| Amounts payable after more than one year | 17 | €706,910 | €706,910 | = | 0.0% |
| Other amounts payable | 178/9 | €706,910 | €706,910 | = | 0.0% |
| Amounts payable within one year | 42/48 | €284,661 | €267,007 | -€17,654 | -6.2% |
| Financial debts | 43 | €72 | €229 | +€156 | +215.8% |
| Other loans | 439 | €72 | €229 | +€156 | +215.8% |
| Trade debts | 44 | €28,768 | €39,636 | +€10,867 | +37.8% |
| Suppliers | 440/4 | €28,768 | €39,636 | +€10,867 | +37.8% |
| Taxes, remuneration and social security | 45 | €9,297 | €1,482 | -€7,814 | -84.1% |
| Taxes | 450/3 | €9,297 | €1,482 | -€7,814 | -84.1% |
| Other amounts payable | 47/48 | €246,524 | €225,661 | -€20,863 | -8.5% |
| Accrued charges and deferred income | 492/3 | €214,207 | €213,142 | -€1,066 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,060 | €89,201 | +€1,141 | +1.3% |
| Other operating charges | 640/8 | €10,666 | €27,594 | +€16,928 | +158.7% |
| Gross operating margin | 9900 | €143,007 | €193,032 | +€50,025 | +35.0% |
| Operating profit (loss) | 9901 | €44,281 | €76,237 | +€31,956 | +72.2% |
| Financial income | 75/76B | €186 | €1,409 | +€1,223 | +655.9% |
| Recurring financial income | 75 | €186 | €1,409 | +€1,223 | +655.9% |
| Financial charges | 65/66B | €30,392 | €28,689 | -€1,703 | -5.6% |
| Recurring financial charges | 65 | €30,392 | €28,689 | -€1,703 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €14,075 | €48,957 | +€34,882 | +247.8% |
| Transfer from deferred taxes | 780 | €5,968 | €5,968 | = | 0.0% |
| Income taxes | 67/77 | €6,442 | €16,030 | +€9,588 | +148.8% |
| Profit (loss) for the period | 9904 | €13,601 | €38,895 | +€25,294 | +186.0% |
| Transfer from tax-exempt reserves | 789 | €11,584 | €11,584 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,185 | €50,479 | +€25,294 | +100.4% |
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 28 September 2026 via checked.be.