NATIMPEX: 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.
NATIMPEX
Largest movements
- Receivables within one year +€80,481
up €80,481 (+78.1%), from €103,029 to €183,510
of which Trade receivables: +€82,334
- Cash -€51,324
down €51,324 (-42.0%), from €122,305 to €70,981
mainly Contributions, distributions and other (-€100,000) and Receivables within one year (-€80,481)
- Tangible fixed assets -€5,959
down €5,959 (-90.5%), from €6,581 to €622
- Deferred charges and accrued income -€2,737
down €2,737 (-65.1%), from €4,207 to €1,470
- Tax, wage and social debts +€11,510
up €11,510 (+277.8%), from €4,144 to €15,654
of which Taxes: +€10,391
- Current portion of long-term debt +€6,464
up €6,464 (+315.5%), from €2,049 to €8,513
- Gross operating margin +€34,568
up €34,568 (+25.4%), from €136,307 to €170,875
- Taxes +€9,083
up €9,083 (+42.7%), from €21,295 to €30,378
- Depreciation -€1,949
down €1,949 (-24.6%), from €7,908 to €5,959
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 | €240,052 | €261,567 | +€21,515 | +9.0% |
| Fixed assets | 21/28 | €6,581 | €622 | -€5,959 | -90.5% |
| Tangible fixed assets | 22/27 | €6,581 | €622 | -€5,959 | -90.5% |
| Furniture and vehicles | 24 | €6,581 | €622 | -€5,959 | -90.5% |
| Current assets | 29/58 | €233,471 | €260,945 | +€27,474 | +11.8% |
| Stocks and contracts in progress | 3 | €3,930 | €4,984 | +€1,054 | +26.8% |
| Stocks | 30/36 | €3,930 | €4,984 | +€1,054 | +26.8% |
| Amounts receivable within one year | 40/41 | €103,029 | €183,510 | +€80,481 | +78.1% |
| Trade receivables | 40 | €91,647 | €173,981 | +€82,334 | +89.8% |
| Other amounts receivable | 41 | €11,382 | €9,529 | -€1,853 | -16.3% |
| Cash at bank and in hand | 54/58 | €122,305 | €70,981 | -€51,324 | -42.0% |
| Deferred charges and accrued income | 490/1 | €4,207 | €1,470 | -€2,737 | -65.1% |
| Total equity and liabilities | 10/49 | €240,052 | €261,567 | +€21,515 | +9.0% |
| Equity | 10/15 | €55,308 | €57,822 | +€2,514 | +4.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,848 | €37,362 | +€2,514 | +7.2% |
| Amounts payable | 17/49 | €184,744 | €203,745 | +€19,001 | +10.3% |
| Amounts payable within one year | 42/48 | €184,744 | €203,745 | +€19,001 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €2,049 | €8,513 | +€6,464 | +315.5% |
| Trade debts | 44 | €77,074 | €79,578 | +€2,504 | +3.2% |
| Suppliers | 440/4 | €77,074 | €79,578 | +€2,504 | +3.2% |
| Taxes, remuneration and social security | 45 | €4,144 | €15,654 | +€11,510 | +277.8% |
| Taxes | 450/3 | €2,287 | €12,678 | +€10,391 | +454.4% |
| Remuneration and social security | 454/9 | €1,857 | €2,976 | +€1,119 | +60.3% |
| Other amounts payable | 47/48 | €101,477 | €100,000 | -€1,477 | -1.5% |
| Remuneration, social security and pensions | 62 | €27,698 | €29,283 | +€1,585 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,908 | €5,959 | -€1,949 | -24.6% |
| Other operating charges | 640/8 | €623 | €529 | -€94 | -15.1% |
| Gross operating margin | 9900 | €136,307 | €170,875 | +€34,568 | +25.4% |
| Operating profit (loss) | 9901 | €100,078 | €135,104 | +€35,026 | +35.0% |
| Financial income | 75/76B | €299 | €140 | -€159 | -53.2% |
| Recurring financial income | 75 | €299 | €140 | -€159 | -53.2% |
| Financial charges | 65/66B | €2,267 | €2,352 | +€85 | +3.7% |
| Recurring financial charges | 65 | €2,267 | €2,352 | +€85 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €98,110 | €132,892 | +€34,782 | +35.5% |
| Income taxes | 67/77 | €21,295 | €30,378 | +€9,083 | +42.7% |
| Profit (loss) for the period | 9904 | €76,815 | €102,514 | +€25,699 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,815 | €102,514 | +€25,699 | +33.5% |
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 12 October 2026 via checked.be.