Natimmo: 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.
What changed
Natimmo
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€87,175
2024 · €72,192+€14,984
Equity
€1.4m
2024 · €1.4m+€87,175
Cash
€32,178
2024 · €15,328+€16,850
Balance sheet total
€2.3m
2024 · €2.3m-€2,003
Largest movements
Assets
- Tangible fixed assets -€44,106
down €44,106 (-2.4%), from €1.9m to €1.8m
Equity and liabilities
- Profit (loss) carried forward +€97,386
up €97,386 (+34.8%), from €279,946 to €377,332
- Other debts -€87,795
down €87,795 (-11.9%), from €739,161 to €651,366
Income statement
- Gross operating margin +€14,427
up €14,427 (+9.1%), from €158,035 to €172,462
- Taxes +€5,293
up €5,293 (+18.3%), from €28,927 to €34,220
- Financial income +€4,482
up €4,482 (+569%), from €788 to €5,269
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.
Result 2024
€72,192
Gross operating margin
+€14,427
Depreciation
-€0
Other operating charges
-€55
Financial income
+€4,482
Financial charges
+€1,423
Taxes
-€5,293
Result 2025
€87,175
raises the resultlowers the result
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.
From operations
+€20,538
Investment
-€3,688
Financing
€0
Cash 2024
€15,328
From operations (derived)
+€20,538
Net result for the year
+€87,175
Depreciation
+€44,106
Deferred charges and accrued income
-€21,566
Provisions
-€5,112
Trade debts
+€54
Tax, wage and social debts
+€5,112
Other debts
-€87,795
Accrued charges and deferred income
-€1,437
Investment (derived)
-€3,688
Current investments
-€3,688
Cash 2025
€32,178
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,270,448 | €2,268,445 | -€2,003 | -0.1% |
| Fixed assets | 21/28 | €1,869,436 | €1,825,329 | -€44,106 | -2.4% |
| Tangible fixed assets | 22/27 | €1,869,436 | €1,825,329 | -€44,106 | -2.4% |
| Land and buildings | 22 | €1,869,436 | €1,825,329 | -€44,106 | -2.4% |
| Current assets | 29/58 | €401,012 | €443,116 | +€42,104 | +10.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €352,104 | €355,792 | +€3,688 | +1.0% |
| Cash at bank and in hand | 54/58 | €15,328 | €32,178 | +€16,850 | +110% |
| Deferred charges and accrued income | 490/1 | €33,580 | €55,146 | +€21,566 | +64.2% |
| Total equity and liabilities | 10/49 | €2,270,448 | €2,268,445 | -€2,003 | -0.1% |
| Equity | 10/15 | €1,357,812 | €1,444,987 | +€87,175 | +6.4% |
| Contributions | 10/11 | €607,500 | €607,500 | = | 0.0% |
| Capital | 10 | €607,500 | €607,500 | = | 0.0% |
| Issued capital | 100 | €607,500 | €607,500 | = | 0.0% |
| Reserves | 13 | €470,367 | €460,156 | -€10,211 | -2.2% |
| Non-distributable reserves | 130/1 | €25,269 | €30,395 | +€5,126 | +20.3% |
| Legal reserve | 130 | €25,269 | €30,395 | +€5,126 | +20.3% |
| Tax-exempt reserves | 132 | €444,764 | €429,427 | -€15,337 | -3.4% |
| Distributable reserves | 133 | €334 | €334 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,946 | €377,332 | +€97,386 | +34.8% |
| Provisions and deferred taxes | 16 | €148,255 | €143,142 | -€5,112 | -3.4% |
| Deferred taxes | 168 | €148,255 | €143,142 | -€5,112 | -3.4% |
| Amounts payable | 17/49 | €764,381 | €680,315 | -€84,066 | -11.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €745,650 | €663,022 | -€82,628 | -11.1% |
| Trade debts | 44 | €272 | €327 | +€54 | +20.0% |
| Suppliers | 440/4 | €272 | €327 | +€54 | +20.0% |
| Taxes, remuneration and social security | 45 | €6,217 | €11,330 | +€5,112 | +82.2% |
| Taxes | 450/3 | €6,217 | €11,330 | +€5,112 | +82.2% |
| Other amounts payable | 47/48 | €739,161 | €651,366 | -€87,795 | -11.9% |
| Accrued charges and deferred income | 492/3 | €18,731 | €17,293 | -€1,437 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,106 | €44,106 | +€0 | 0.0% |
| Other operating charges | 640/8 | €9,927 | €9,982 | +€55 | +0.6% |
| Gross operating margin | 9900 | €158,035 | €172,462 | +€14,427 | +9.1% |
| Operating profit (loss) | 9901 | €104,002 | €118,374 | +€14,372 | +13.8% |
| Financial income | 75/76B | €788 | €5,269 | +€4,482 | +569% |
| Recurring financial income | 75 | €788 | €5,269 | +€4,482 | +569% |
| Financial charges | 65/66B | €8,783 | €7,361 | -€1,423 | -16.2% |
| Recurring financial charges | 65 | €8,783 | €7,361 | -€1,423 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €96,006 | €116,283 | +€20,277 | +21.1% |
| Transfer from deferred taxes | 780 | €5,112 | €5,112 | = | 0.0% |
| Income taxes | 67/77 | €28,927 | €34,220 | +€5,293 | +18.3% |
| Profit (loss) for the period | 9904 | €72,192 | €87,175 | +€14,984 | +20.8% |
| Transfer from tax-exempt reserves | 789 | €15,337 | €15,337 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,528 | €102,512 | +€14,984 | +17.1% |
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 15 October 2026 via checked.be.