Natsu: 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.
Natsu
Largest movements
- Cash +€21,136
up €21,136 (+49.1%), from €43,089 to €64,226
mainly Net result for the year (+€31,837) and Receivables within one year (+€5,157)
- Receivables within one year -€5,157
down €5,157 (-28.7%), from €17,938 to €12,781
of which Trade receivables: -€5,876
- Tangible fixed assets +€4,840
up €4,840 (+323.2%), from €1,498 to €6,337
- Profit (loss) carried forward +€31,837
up €31,837 (+72.0%), from €44,214 to €76,051
- Tax, wage and social debts -€10,742
down €10,742 (-93.9%), from €11,438 to €697
of which Taxes: -€10,742
- Trade debts +€868
up €868 (+73.7%), from €1,177 to €2,045
- Gross operating margin -€5,200
down €5,200 (-10.2%), from €51,022 to €45,822
- Depreciation +€3,089
up €3,089 (+696.1%), from €444 to €3,533
- Taxes -€1,146
down €1,146 (-10.0%), from €11,438 to €10,292
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 | €62,576 | €84,057 | +€21,482 | +34.3% |
| Fixed assets | 21/28 | €1,498 | €6,337 | +€4,840 | +323.2% |
| Tangible fixed assets | 22/27 | €1,498 | €6,337 | +€4,840 | +323.2% |
| Furniture and vehicles | 24 | €1,498 | €6,337 | +€4,840 | +323.2% |
| Current assets | 29/58 | €61,078 | €77,720 | +€16,642 | +27.2% |
| Amounts receivable within one year | 40/41 | €17,938 | €12,781 | -€5,157 | -28.7% |
| Trade receivables | 40 | €17,331 | €11,455 | -€5,876 | -33.9% |
| Other amounts receivable | 41 | €606 | €1,325 | +€719 | +118.7% |
| Cash at bank and in hand | 54/58 | €43,089 | €64,226 | +€21,136 | +49.1% |
| Deferred charges and accrued income | 490/1 | €51 | €714 | +€662 | +1292.8% |
| Total equity and liabilities | 10/49 | €62,576 | €84,057 | +€21,482 | +34.3% |
| Equity | 10/15 | €45,714 | €77,551 | +€31,837 | +69.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,214 | €76,051 | +€31,837 | +72.0% |
| Amounts payable | 17/49 | €16,862 | €6,506 | -€10,356 | -61.4% |
| Amounts payable within one year | 42/48 | €16,862 | €6,506 | -€10,356 | -61.4% |
| Trade debts | 44 | €1,177 | €2,045 | +€868 | +73.7% |
| Suppliers | 440/4 | €1,177 | €2,045 | +€868 | +73.7% |
| Taxes, remuneration and social security | 45 | €11,438 | €697 | -€10,742 | -93.9% |
| Taxes | 450/3 | €11,438 | €697 | -€10,742 | -93.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,246 | €3,765 | -€481 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €444 | €3,533 | +€3,089 | +696.1% |
| Other operating charges | 640/8 | €75 | €30 | -€45 | -60.1% |
| Gross operating margin | 9900 | €51,022 | €45,822 | -€5,200 | -10.2% |
| Operating profit (loss) | 9901 | €50,503 | €42,259 | -€8,244 | -16.3% |
| Financial income | 75/76B | €8 | €10 | +€2 | +22.6% |
| Recurring financial income | 75 | €8 | €10 | +€2 | +22.6% |
| Financial charges | 65/66B | €96 | €140 | +€44 | +46.2% |
| Recurring financial charges | 65 | €96 | €140 | +€44 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | €50,416 | €42,129 | -€8,287 | -16.4% |
| Income taxes | 67/77 | €11,438 | €10,292 | -€1,146 | -10.0% |
| Profit (loss) for the period | 9904 | €38,978 | €31,837 | -€7,140 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,978 | €31,837 | -€7,140 | -18.3% |
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 7 October 2026 via checked.be.