NATLANDHOEVE: 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.
NATLANDHOEVE
Largest movements
- Receivables within one year +€21,555
up €21,555 (+39.9%), from €53,994 to €75,549
of which Other amounts receivable: +€15,292
- Tangible fixed assets -€13,420
down €13,420 (-21.2%), from €63,199 to €49,779
of which Plant, machinery and equipment: -€18,435
- Stocks and contracts +€6,375
up €6,375 (+12.5%), from €50,830 to €57,205
- Cash -€4,919
down €4,919 (-75.6%), from €6,510 to €1,590
mainly Receivables within one year (-€21,555) and Investment in fixed assets (net) (-€14,493)
- Profit (loss) carried forward +€19,898
up €19,898 (+84.8%), from -€23,472 to -€3,575
- Debts after one year -€11,544
down €11,544 (-29.4%), from €39,205 to €27,660
- Trade debts +€6,406
up €6,406 (+167%), from €3,832 to €10,238
- Reserves -€4,050
down €4,050 (-2.9%), from €137,301 to €133,251
of which Tax-exempt reserves: -€4,050
- Gross operating margin +€26,790
up €26,790 (+155%), from €17,328 to €44,118
- Depreciation -€3,190
down €3,190 (-10.3%), from €31,102 to €27,912
- Financial income +€1,153
new in 2025: €1,153
- Other operating charges +€843
up €843 (+89.9%), from €937 to €1,780
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 | €177,453 | €186,994 | +€9,541 | +5.4% |
| Fixed assets | 21/28 | €63,899 | €50,479 | -€13,420 | -21.0% |
| Tangible fixed assets | 22/27 | €63,199 | €49,779 | -€13,420 | -21.2% |
| Plant, machinery and equipment | 23 | €58,979 | €40,544 | -€18,435 | -31.3% |
| Furniture and vehicles | 24 | €1,981 | - | -€1,981 | |
| Other tangible fixed assets | 26 | €2,238 | €9,235 | +€6,997 | +313% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €113,554 | €136,514 | +€22,960 | +20.2% |
| Stocks and contracts in progress | 3 | €50,830 | €57,205 | +€6,375 | +12.5% |
| Stocks | 30/36 | €50,830 | €57,205 | +€6,375 | +12.5% |
| Amounts receivable within one year | 40/41 | €53,994 | €75,549 | +€21,555 | +39.9% |
| Trade receivables | 40 | €28,316 | €34,580 | +€6,264 | +22.1% |
| Other amounts receivable | 41 | €25,677 | €40,969 | +€15,292 | +59.6% |
| Cash at bank and in hand | 54/58 | €6,510 | €1,590 | -€4,919 | -75.6% |
| Deferred charges and accrued income | 490/1 | €2,221 | €2,170 | -€51 | -2.3% |
| Total equity and liabilities | 10/49 | €177,453 | €186,994 | +€9,541 | +5.4% |
| Equity | 10/15 | €120,029 | €135,876 | +€15,848 | +13.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €137,301 | €133,251 | -€4,050 | -2.9% |
| Tax-exempt reserves | 132 | €9,074 | €5,024 | -€4,050 | -44.6% |
| Distributable reserves | 133 | €128,227 | €128,227 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,472 | -€3,575 | +€19,898 | +84.8% |
| Provisions and deferred taxes | 16 | €3,025 | €1,675 | -€1,350 | -44.6% |
| Deferred taxes | 168 | €3,025 | €1,675 | -€1,350 | -44.6% |
| Amounts payable | 17/49 | €54,400 | €49,443 | -€4,957 | -9.1% |
| Amounts payable after more than one year | 17 | €39,205 | €27,660 | -€11,544 | -29.4% |
| Financial debts | 170/4 | €39,205 | €27,660 | -€11,544 | -29.4% |
| Amounts payable within one year | 42/48 | €15,195 | €21,782 | +€6,588 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | €11,363 | €11,544 | +€182 | +1.6% |
| Trade debts | 44 | €3,832 | €10,238 | +€6,406 | +167% |
| Suppliers | 440/4 | €3,832 | €10,238 | +€6,406 | +167% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,102 | €27,912 | -€3,190 | -10.3% |
| Other operating charges | 640/8 | €937 | €1,780 | +€843 | +89.9% |
| Non-recurring operating charges | 66A | €1,620 | - | -€1,620 | |
| Gross operating margin | 9900 | €17,328 | €44,118 | +€26,790 | +155% |
| Operating profit (loss) | 9901 | -€16,330 | €14,426 | +€30,757 | |
| Financial income | 75/76B | - | €1,153 | +€1,153 | |
| Recurring financial income | 75 | - | €1,153 | +€1,153 | |
| Financial charges | 65/66B | €1,031 | €1,082 | +€51 | +4.9% |
| Recurring financial charges | 65 | €1,031 | €1,082 | +€51 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,362 | €14,498 | +€31,859 | |
| Transfer from deferred taxes | 780 | €1,350 | €1,350 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€16,012 | €15,848 | +€31,859 | |
| Transfer from tax-exempt reserves | 789 | €4,050 | €4,050 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,962 | €19,898 | +€31,859 |
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 21 October 2026 via checked.be.