NATUGA: 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.
NATUGA
Largest movements
- Receivables within one year +€38,162
up €38,162 (+65.7%), from €58,080 to €96,242
of which Other amounts receivable: +€53,338
- Receivables after one year -€12,831
no longer reported in 2025 (was €12,831)
- Cash -€7,363
down €7,363 (-50.5%), from €14,573 to €7,210
mainly Receivables within one year (-€38,162) and Tax, wage and social debts (-€8,761)
- Stocks and contracts +€5,538
up €5,538 (+88.6%), from €6,253 to €11,791
- Deferred charges and accrued income +€3,987
up €3,987 (+416.2%), from €958 to €4,945
- Profit (loss) carried forward +€28,822
up €28,822 (+51.8%), from €55,641 to €84,463
- Tax, wage and social debts -€8,761
down €8,761 (-32.7%), from €26,804 to €18,043
- Trade debts +€5,834
up €5,834 (+47.5%), from €12,294 to €18,128
- Accrued charges and deferred income +€2,620
new in 2025: €2,620
- Gross operating margin -€6,391
down €6,391 (-12.1%), from €53,010 to €46,619
- Financial income +€3,661
up €3,661 (+1519.1%), from €241 to €3,902
- Taxes -€882
down €882 (-5.9%), from €14,882 to €14,000
- Other operating charges +€869
up €869 (+61.7%), from €1,409 to €2,278
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 | €99,739 | €128,254 | +€28,515 | +28.6% |
| Fixed assets | 21/28 | €7,044 | €8,066 | +€1,022 | +14.5% |
| Intangible fixed assets | 21 | €3,203 | €2,059 | -€1,144 | -35.7% |
| Tangible fixed assets | 22/27 | €1,874 | €4,040 | +€2,166 | +115.6% |
| Furniture and vehicles | 24 | €1,874 | €4,040 | +€2,166 | +115.6% |
| Financial fixed assets | 28 | €1,967 | €1,967 | = | 0.0% |
| Current assets | 29/58 | €92,695 | €120,188 | +€27,493 | +29.7% |
| Amounts receivable after more than one year | 29 | €12,831 | - | -€12,831 | |
| Other amounts receivable | 291 | €12,831 | - | -€12,831 | |
| Stocks and contracts in progress | 3 | €6,253 | €11,791 | +€5,538 | +88.6% |
| Stocks | 30/36 | €6,253 | €11,791 | +€5,538 | +88.6% |
| Amounts receivable within one year | 40/41 | €58,080 | €96,242 | +€38,162 | +65.7% |
| Trade receivables | 40 | €41,368 | €26,192 | -€15,176 | -36.7% |
| Other amounts receivable | 41 | €16,712 | €70,050 | +€53,338 | +319.2% |
| Cash at bank and in hand | 54/58 | €14,573 | €7,210 | -€7,363 | -50.5% |
| Deferred charges and accrued income | 490/1 | €958 | €4,945 | +€3,987 | +416.2% |
| Total equity and liabilities | 10/49 | €99,739 | €128,254 | +€28,515 | +28.6% |
| Equity | 10/15 | €60,641 | €89,463 | +€28,822 | +47.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,641 | €84,463 | +€28,822 | +51.8% |
| Amounts payable | 17/49 | €39,098 | €38,791 | -€307 | -0.8% |
| Amounts payable within one year | 42/48 | €39,098 | €36,171 | -€2,927 | -7.5% |
| Trade debts | 44 | €12,294 | €18,128 | +€5,834 | +47.5% |
| Suppliers | 440/4 | €12,294 | €18,128 | +€5,834 | +47.5% |
| Taxes, remuneration and social security | 45 | €26,804 | €18,043 | -€8,761 | -32.7% |
| Taxes | 450/3 | €26,804 | €18,043 | -€8,761 | -32.7% |
| Accrued charges and deferred income | 492/3 | - | €2,620 | +€2,620 | |
| Non-recurring operating income | 76A | - | €42 | +€42 | |
| Remuneration, social security and pensions | 62 | €3,018 | €3,058 | +€40 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,478 | €2,055 | -€423 | -17.1% |
| Other operating charges | 640/8 | €1,409 | €2,278 | +€869 | +61.7% |
| Gross operating margin | 9900 | €53,010 | €46,619 | -€6,391 | -12.1% |
| Operating profit (loss) | 9901 | €46,105 | €39,228 | -€6,877 | -14.9% |
| Financial income | 75/76B | €241 | €3,902 | +€3,661 | +1519.1% |
| Recurring financial income | 75 | €241 | €3,902 | +€3,661 | +1519.1% |
| Financial charges | 65/66B | €655 | €308 | -€347 | -53.0% |
| Recurring financial charges | 65 | €655 | €308 | -€347 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €45,691 | €42,822 | -€2,869 | -6.3% |
| Income taxes | 67/77 | €14,882 | €14,000 | -€882 | -5.9% |
| Profit (loss) for the period | 9904 | €30,809 | €28,822 | -€1,987 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,809 | €28,822 | -€1,987 | -6.4% |
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 4 October 2026 via checked.be.