Natsca: 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.
Natsca
Largest movements
- Receivables within one year -€90,207
down €90,207 (-61.1%), from €147,661 to €57,453
of which Trade receivables: -€71,730
- Intangible fixed assets -€20,000
down €20,000 (-15.8%), from €126,521 to €106,520
- Stocks and contracts -€3,574
down €3,574 (-7.7%), from €46,558 to €42,984
- Profit (loss) carried forward -€80,160
down €80,160, from €10,619 to -€69,541
- Debts after one year -€63,810
down €63,810 (-59.5%), from €107,293 to €43,483
- Current portion of long-term debt +€32,115
new in 2025: €32,115
- Other debts +€13,072
new in 2025: €13,072
- Trade debts -€13,009
down €13,009 (-24.3%), from €53,433 to €40,424
- Gross operating margin -€94,481
down €94,481 (-57.8%), from €163,450 to €68,969
- Depreciation -€7,708
down €7,708 (-26.1%), from €29,512 to €21,803
- Staff costs +€7,170
up €7,170 (+7.2%), from €99,197 to €106,367
- Taxes -€3,635
down €3,635 (-96.3%), from €3,776 to €141
- Financial charges +€2,562
up €2,562 (+48.7%), from €5,260 to €7,821
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 | €331,222 | €220,678 | -€110,544 | -33.4% |
| Fixed assets | 21/28 | €131,857 | €114,409 | -€17,448 | -13.2% |
| Intangible fixed assets | 21 | €126,521 | €106,520 | -€20,000 | -15.8% |
| Tangible fixed assets | 22/27 | €5,337 | €7,889 | +€2,552 | +47.8% |
| Land and buildings | 22 | €3,877 | €6,024 | +€2,147 | +55.4% |
| Plant, machinery and equipment | 23 | €1,166 | €561 | -€606 | -51.9% |
| Furniture and vehicles | 24 | €294 | €1,304 | +€1,010 | +344% |
| Current assets | 29/58 | €199,365 | €106,269 | -€93,096 | -46.7% |
| Stocks and contracts in progress | 3 | €46,558 | €42,984 | -€3,574 | -7.7% |
| Stocks | 30/36 | €46,558 | €42,984 | -€3,574 | -7.7% |
| Amounts receivable within one year | 40/41 | €147,661 | €57,453 | -€90,207 | -61.1% |
| Trade receivables | 40 | €78,484 | €6,755 | -€71,730 | -91.4% |
| Other amounts receivable | 41 | €69,176 | €50,699 | -€18,478 | -26.7% |
| Cash at bank and in hand | 54/58 | €3,999 | €5,831 | +€1,832 | +45.8% |
| Deferred charges and accrued income | 490/1 | €1,147 | - | -€1,147 | |
| Total equity and liabilities | 10/49 | €331,222 | €220,678 | -€110,544 | -33.4% |
| Equity | 10/15 | €136,550 | €56,389 | -€80,160 | -58.7% |
| Contributions | 10/11 | €40,400 | €40,400 | = | 0.0% |
| Reserves | 13 | €85,531 | €85,531 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,001 | €12,001 | = | 0.0% |
| Distributable reserves | 133 | €73,529 | €73,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,619 | -€69,541 | -€80,160 | |
| Provisions and deferred taxes | 16 | €4,013 | €4,013 | = | 0.0% |
| Deferred taxes | 168 | €4,013 | €4,013 | = | 0.0% |
| Amounts payable | 17/49 | €190,659 | €160,275 | -€30,384 | -15.9% |
| Amounts payable after more than one year | 17 | €107,293 | €43,483 | -€63,810 | -59.5% |
| Financial debts | 170/4 | €107,293 | €43,483 | -€63,810 | -59.5% |
| Amounts payable within one year | 42/48 | €83,366 | €116,792 | +€33,426 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | - | €32,115 | +€32,115 | |
| Trade debts | 44 | €53,433 | €40,424 | -€13,009 | -24.3% |
| Suppliers | 440/4 | €53,433 | €40,424 | -€13,009 | -24.3% |
| Taxes, remuneration and social security | 45 | €29,933 | €31,181 | +€1,248 | +4.2% |
| Taxes | 450/3 | €9,975 | €11,751 | +€1,777 | +17.8% |
| Remuneration and social security | 454/9 | €19,959 | €19,430 | -€529 | -2.6% |
| Other amounts payable | 47/48 | - | €13,072 | +€13,072 | |
| Remuneration, social security and pensions | 62 | €99,197 | €106,367 | +€7,170 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,512 | €21,803 | -€7,708 | -26.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,405 | €12,613 | -€1,792 | -12.4% |
| Other operating charges | 640/8 | €1,437 | €383 | -€1,053 | -73.3% |
| Gross operating margin | 9900 | €163,450 | €68,969 | -€94,481 | -57.8% |
| Operating profit (loss) | 9901 | €18,899 | -€72,199 | -€91,098 | |
| Financial income | 75/76B | €1 | €1 | -€1 | -62.2% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -62.2% |
| Financial charges | 65/66B | €5,260 | €7,821 | +€2,562 | +48.7% |
| Recurring financial charges | 65 | €5,260 | €7,821 | +€2,562 | +48.7% |
| Profit (loss) for the period before taxes | 9903 | €13,641 | -€80,019 | -€93,661 | |
| Income taxes | 67/77 | €3,776 | €141 | -€3,635 | -96.3% |
| Profit (loss) for the period | 9904 | €9,866 | -€80,160 | -€90,026 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,866 | -€80,160 | -€90,026 |
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 14 October 2026 via checked.be.