NATMAT: 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.
NATMAT
Largest movements
- Tangible fixed assets -€425,497
down €425,497 (-33.6%), from €1.3m to €839,172
- Stocks and contracts +€239,557
new in 2025: €239,557
- Receivables within one year +€74,830
up €74,830 (+81.3%), from €92,045 to €166,875
of which Other amounts receivable: +€67,752
- Debts after one year -€313,948
down €313,948 (-40.6%), from €773,013 to €459,065
- Other debts +€130,965
up €130,965 (+21.3%), from €614,073 to €745,038
- Current portion of long-term debt +€64,846
up €64,846 (+151.3%), from €42,863 to €107,710
- Trade debts -€22,337
no longer reported in 2025 (was €22,337)
- Profit (loss) carried forward +€19,438
up €19,438 (+29.4%), from -€66,071 to -€46,633
- Gross operating margin +€55,349
up €55,349 (+1506.1%), from €3,675 to €59,024
- Financial income +€12,917
new in 2025: €12,917
of which Financial income: +€12,917
- Financial charges +€7,013
up €7,013 (+28.5%), from €24,604 to €31,618
- Depreciation +€5,764
up €5,764 (+40.1%), from €14,379 to €20,144
- Other operating charges -€1,041
down €1,041 (-58.4%), from €1,782 to €741
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 | €1,396,216 | €1,277,177 | -€119,039 | -8.5% |
| Fixed assets | 21/28 | €1,264,669 | €839,172 | -€425,497 | -33.6% |
| Tangible fixed assets | 22/27 | €1,264,669 | €839,172 | -€425,497 | -33.6% |
| Land and buildings | 22 | €1,264,669 | €839,172 | -€425,497 | -33.6% |
| Current assets | 29/58 | €131,546 | €438,005 | +€306,458 | +233.0% |
| Stocks and contracts in progress | 3 | - | €239,557 | +€239,557 | |
| Stocks | 30/36 | - | €239,557 | +€239,557 | |
| Amounts receivable within one year | 40/41 | €92,045 | €166,875 | +€74,830 | +81.3% |
| Trade receivables | 40 | - | €7,079 | +€7,079 | |
| Other amounts receivable | 41 | €92,045 | €159,797 | +€67,752 | +73.6% |
| Cash at bank and in hand | 54/58 | €39,501 | €31,573 | -€7,928 | -20.1% |
| Total equity and liabilities | 10/49 | €1,396,216 | €1,277,177 | -€119,039 | -8.5% |
| Equity | 10/15 | -€56,071 | -€36,633 | +€19,438 | +34.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,071 | -€46,633 | +€19,438 | +29.4% |
| Amounts payable | 17/49 | €1,452,286 | €1,313,810 | -€138,477 | -9.5% |
| Amounts payable after more than one year | 17 | €773,013 | €459,065 | -€313,948 | -40.6% |
| Financial debts | 170/4 | €773,013 | €459,065 | -€313,948 | -40.6% |
| Amounts payable within one year | 42/48 | €679,274 | €854,745 | +€175,471 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €42,863 | €107,710 | +€64,846 | +151.3% |
| Trade debts | 44 | €22,337 | - | -€22,337 | |
| Suppliers | 440/4 | €22,337 | - | -€22,337 | |
| Taxes, remuneration and social security | 45 | - | €1,997 | +€1,997 | |
| Taxes | 450/3 | - | €1,997 | +€1,997 | |
| Other amounts payable | 47/48 | €614,073 | €745,038 | +€130,965 | +21.3% |
| Non-recurring operating income | 76A | - | €347 | +€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,379 | €20,144 | +€5,764 | +40.1% |
| Other operating charges | 640/8 | €1,782 | €741 | -€1,041 | -58.4% |
| Gross operating margin | 9900 | €3,675 | €59,024 | +€55,349 | +1506.1% |
| Operating profit (loss) | 9901 | -€12,487 | €38,139 | +€50,625 | |
| Financial income | 75/76B | - | €12,917 | +€12,917 | |
| Recurring financial income | 75 | - | €12,917 | +€12,917 | |
| Non-recurring financial income | 76B | - | €12,917 | +€12,917 | |
| Financial charges | 65/66B | €24,604 | €31,618 | +€7,013 | +28.5% |
| Recurring financial charges | 65 | €24,604 | €31,618 | +€7,013 | +28.5% |
| Profit (loss) for the period before taxes | 9903 | -€37,091 | €19,438 | +€56,529 | |
| Profit (loss) for the period | 9904 | -€37,091 | €19,438 | +€56,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,091 | €19,438 | +€56,529 |
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 8 October 2026 via checked.be.