NATULE: 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.
NATULE
Largest movements
- Cash +€237,707
up €237,707 (+13.7%), from €1.7m to €2.0m
mainly Net result for the year (+€240,637) and Depreciation (+€30,064)
- Reserves +€240,000
up €240,000 (+17.9%), from €1.3m to €1.6m
- Taxes +€14,721
up €14,721 (+15.7%), from €93,788 to €108,509
- Gross operating margin +€14,078
up €14,078 (+4.3%), from €329,128 to €343,205
- Financial income -€9,448
down €9,448 (-18.5%), from €51,057 to €41,610
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 | €3,023,973 | €3,275,166 | +€251,193 | +8.3% |
| Fixed assets | 21/28 | €1,190,216 | €1,181,308 | -€8,908 | -0.7% |
| Tangible fixed assets | 22/27 | €90,368 | €61,460 | -€28,908 | -32.0% |
| Land and buildings | 22 | €12,716 | €10,805 | -€1,911 | -15.0% |
| Plant, machinery and equipment | 23 | €277 | €1,142 | +€865 | +312% |
| Furniture and vehicles | 24 | €77,375 | €49,513 | -€27,861 | -36.0% |
| Financial fixed assets | 28 | €1,099,848 | €1,119,848 | +€20,000 | +1.8% |
| Current assets | 29/58 | €1,833,757 | €2,093,858 | +€260,101 | +14.2% |
| Amounts receivable within one year | 40/41 | €76,792 | €95,907 | +€19,115 | +24.9% |
| Trade receivables | 40 | €76,792 | €95,907 | +€19,115 | +24.9% |
| Cash at bank and in hand | 54/58 | €1,737,235 | €1,974,942 | +€237,707 | +13.7% |
| Deferred charges and accrued income | 490/1 | €19,731 | €23,009 | +€3,279 | +16.6% |
| Total equity and liabilities | 10/49 | €3,023,973 | €3,275,166 | +€251,193 | +8.3% |
| Equity | 10/15 | €2,705,219 | €2,945,856 | +€240,637 | +8.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,343,000 | €1,583,000 | +€240,000 | +17.9% |
| Distributable reserves | 133 | €1,343,000 | €1,583,000 | +€240,000 | +17.9% |
| Profit (loss) carried forward | 14 | €1,342,219 | €1,342,856 | +€637 | 0.0% |
| Amounts payable | 17/49 | €318,754 | €329,310 | +€10,557 | +3.3% |
| Amounts payable after more than one year | 17 | €273,500 | €273,500 | = | 0.0% |
| Financial debts | 170/4 | €273,500 | €273,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €45,254 | €55,810 | +€10,557 | +23.3% |
| Trade debts | 44 | €6,024 | €9,532 | +€3,508 | +58.2% |
| Suppliers | 440/4 | €6,024 | €9,532 | +€3,508 | +58.2% |
| Taxes, remuneration and social security | 45 | €16,162 | €16,975 | +€813 | +5.0% |
| Taxes | 450/3 | €16,162 | €16,975 | +€813 | +5.0% |
| Other amounts payable | 47/48 | €23,067 | €29,303 | +€6,236 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,084 | €30,064 | -€19 | -0.1% |
| Other operating charges | 640/8 | €1,738 | €1,547 | -€191 | -11.0% |
| Gross operating margin | 9900 | €329,128 | €343,205 | +€14,078 | +4.3% |
| Operating profit (loss) | 9901 | €297,306 | €311,594 | +€14,288 | +4.8% |
| Financial income | 75/76B | €51,057 | €41,610 | -€9,448 | -18.5% |
| Recurring financial income | 75 | €51,057 | €41,610 | -€9,448 | -18.5% |
| Financial charges | 65/66B | €4,777 | €4,058 | -€719 | -15.1% |
| Recurring financial charges | 65 | €4,777 | €4,058 | -€719 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €343,586 | €349,146 | +€5,560 | +1.6% |
| Income taxes | 67/77 | €93,788 | €108,509 | +€14,721 | +15.7% |
| Profit (loss) for the period | 9904 | €249,798 | €240,637 | -€9,161 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €249,798 | €240,637 | -€9,161 | -3.7% |
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.