NATS RAWLINE: 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.
NATS RAWLINE
Largest movements
- Tangible fixed assets +€142,423
up €142,423 (+308%), from €46,271 to €188,693
of which Other tangible fixed assets: +€132,400
- Cash +€115,996
up €115,996 (+34.3%), from €337,980 to €453,976
mainly Net result for the year (+€307,512) and Debts after one year (+€160,765)
- Receivables within one year +€14,438
up €14,438 (+4.9%), from €296,138 to €310,577
of which Other amounts receivable: +€12,739
- Debts after one year +€160,765
up €160,765 (+130%), from €123,451 to €284,215
- Other debts +€90,433
up €90,433 (+54.9%), from €164,700 to €255,133
- Profit (loss) carried forward -€42,488
down €42,488 (-12.7%), from €334,829 to €292,341
- Accrued charges and deferred income +€20,000
up €20,000 (+10.0%), from €200,000 to €220,000
- Current portion of long-term debt +€19,265
up €19,265 (+54.3%), from €35,446 to €54,711
- Gross operating margin +€105,558
up €105,558 (+21.5%), from €491,716 to €597,274
- Staff costs +€40,841
up €40,841 (+49.2%), from €82,976 to €123,816
- Taxes +€31,912
up €31,912 (+34.3%), from €92,908 to €124,820
- Other operating charges +€13,256
up €13,256 (+632%), from €2,097 to €15,353
- Financial income +€12,932
up €12,932 (+2,351%), from €550 to €13,482
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 | €1,043,035 | €1,312,528 | +€269,494 | +25.8% |
| Fixed assets | 21/28 | €406,990 | €546,622 | +€139,632 | +34.3% |
| Intangible fixed assets | 21 | €7,719 | €4,929 | -€2,790 | -36.1% |
| Tangible fixed assets | 22/27 | €46,271 | €188,693 | +€142,423 | +308% |
| Furniture and vehicles | 24 | €33,287 | €43,309 | +€10,022 | +30.1% |
| Other tangible fixed assets | 26 | €12,984 | €145,384 | +€132,400 | +1,020% |
| Financial fixed assets | 28 | €353,000 | €353,000 | = | 0.0% |
| Current assets | 29/58 | €636,045 | €765,906 | +€129,861 | +20.4% |
| Amounts receivable within one year | 40/41 | €296,138 | €310,577 | +€14,438 | +4.9% |
| Trade receivables | 40 | €238,120 | €239,819 | +€1,699 | +0.7% |
| Other amounts receivable | 41 | €58,019 | €70,758 | +€12,739 | +22.0% |
| Cash at bank and in hand | 54/58 | €337,980 | €453,976 | +€115,996 | +34.3% |
| Deferred charges and accrued income | 490/1 | €1,926 | €1,353 | -€573 | -29.7% |
| Total equity and liabilities | 10/49 | €1,043,035 | €1,312,528 | +€269,494 | +25.8% |
| Equity | 10/15 | €355,289 | €312,801 | -€42,488 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €334,829 | €292,341 | -€42,488 | -12.7% |
| Amounts payable | 17/49 | €687,745 | €999,727 | +€311,982 | +45.4% |
| Amounts payable after more than one year | 17 | €123,451 | €284,215 | +€160,765 | +130% |
| Financial debts | 170/4 | €123,451 | €284,215 | +€160,765 | +130% |
| Amounts payable within one year | 42/48 | €364,295 | €495,512 | +€131,217 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €35,446 | €54,711 | +€19,265 | +54.3% |
| Trade debts | 44 | €78,352 | €93,341 | +€14,989 | +19.1% |
| Suppliers | 440/4 | €78,352 | €93,341 | +€14,989 | +19.1% |
| Taxes, remuneration and social security | 45 | €85,796 | €92,327 | +€6,531 | +7.6% |
| Taxes | 450/3 | €76,715 | €76,550 | -€165 | -0.2% |
| Remuneration and social security | 454/9 | €9,081 | €15,777 | +€6,696 | +73.7% |
| Other amounts payable | 47/48 | €164,700 | €255,133 | +€90,433 | +54.9% |
| Accrued charges and deferred income | 492/3 | €200,000 | €220,000 | +€20,000 | +10.0% |
| Remuneration, social security and pensions | 62 | €82,976 | €123,816 | +€40,841 | +49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,041 | €21,779 | +€2,737 | +14.4% |
| Other operating charges | 640/8 | €2,097 | €15,353 | +€13,256 | +632% |
| Gross operating margin | 9900 | €491,716 | €597,274 | +€105,558 | +21.5% |
| Operating profit (loss) | 9901 | €387,601 | €436,326 | +€48,724 | +12.6% |
| Financial income | 75/76B | €550 | €13,482 | +€12,932 | +2,351% |
| Recurring financial income | 75 | €550 | €13,482 | +€12,932 | +2,351% |
| Financial charges | 65/66B | €14,795 | €17,476 | +€2,681 | +18.1% |
| Recurring financial charges | 65 | €14,795 | €17,476 | +€2,681 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €373,357 | €432,332 | +€58,975 | +15.8% |
| Income taxes | 67/77 | €92,908 | €124,820 | +€31,912 | +34.3% |
| Profit (loss) for the period | 9904 | €280,449 | €307,512 | +€27,063 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €280,449 | €307,512 | +€27,063 | +9.6% |
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.