NATURANCE: 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.
NATURANCE
Largest movements
- Intangible fixed assets -€93,950
down €93,950 (-27.0%), from €348,238 to €254,288
- Stocks and contracts -€55,494
down €55,494 (-12.9%), from €428,745 to €373,251
- Cash +€55,275
up €55,275 (+184%), from €30,104 to €85,379
mainly Depreciation (+€136,939) and Net result for the year (+€106,264)
- Tangible fixed assets -€36,144
down €36,144 (-3.9%), from €923,559 to €887,415
of which Land and buildings: -€21,667
- Receivables within one year +€18,425
up €18,425 (+20.4%), from €90,170 to €108,595
of which Trade receivables: +€28,109
- Debts after one year -€155,196
down €155,196 (-17.0%), from €910,633 to €755,437
- Reserves +€106,264
up €106,264 (+40.7%), from €261,178 to €367,441
of which Distributable reserves: +€106,264
- Other debts -€76,080
down €76,080 (-39.4%), from €193,011 to €116,931
- Tax, wage and social debts +€33,306
up €33,306 (+71.0%), from €46,896 to €80,202
of which Taxes: +€35,090
- Trade debts -€29,284
down €29,284 (-33.6%), from €87,081 to €57,797
- Gross operating margin +€64,569
up €64,569 (+14.2%), from €454,157 to €518,726
- Taxes +€34,168
up €34,168 (+123%), from €27,792 to €61,960
- Staff costs -€25,243
down €25,243 (-12.2%), from €207,452 to €182,208
- Financial charges -€6,984
down €6,984 (-22.5%), from €31,038 to €24,054
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 | €1,834,471 | €1,722,603 | -€111,868 | -6.1% |
| Fixed assets | 21/28 | €1,271,877 | €1,141,783 | -€130,094 | -10.2% |
| Intangible fixed assets | 21 | €348,238 | €254,288 | -€93,950 | -27.0% |
| Tangible fixed assets | 22/27 | €923,559 | €887,415 | -€36,144 | -3.9% |
| Land and buildings | 22 | €882,685 | €861,018 | -€21,667 | -2.5% |
| Plant, machinery and equipment | 23 | €9,321 | €7,292 | -€2,029 | -21.8% |
| Furniture and vehicles | 24 | €31,553 | €19,105 | -€12,448 | -39.5% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €562,593 | €580,819 | +€18,226 | +3.2% |
| Stocks and contracts in progress | 3 | €428,745 | €373,251 | -€55,494 | -12.9% |
| Stocks | 30/36 | €428,745 | €373,251 | -€55,494 | -12.9% |
| Amounts receivable within one year | 40/41 | €90,170 | €108,595 | +€18,425 | +20.4% |
| Trade receivables | 40 | €78,733 | €106,842 | +€28,109 | +35.7% |
| Other amounts receivable | 41 | €11,437 | €1,753 | -€9,683 | -84.7% |
| Current investments | 50/53 | €10,492 | €10,608 | +€116 | +1.1% |
| Cash at bank and in hand | 54/58 | €30,104 | €85,379 | +€55,275 | +184% |
| Deferred charges and accrued income | 490/1 | €3,082 | €2,986 | -€96 | -3.1% |
| Total equity and liabilities | 10/49 | €1,834,471 | €1,722,603 | -€111,868 | -6.1% |
| Equity | 10/15 | €411,178 | €517,441 | +€106,264 | +25.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €261,178 | €367,441 | +€106,264 | +40.7% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €246,178 | €352,441 | +€106,264 | +43.2% |
| Amounts payable | 17/49 | €1,423,293 | €1,205,161 | -€218,132 | -15.3% |
| Amounts payable after more than one year | 17 | €910,633 | €755,437 | -€155,196 | -17.0% |
| Financial debts | 170/4 | €910,633 | €755,437 | -€155,196 | -17.0% |
| Amounts payable within one year | 42/48 | €500,352 | €410,419 | -€89,933 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €173,364 | €155,196 | -€18,168 | -10.5% |
| Financial debts | 43 | €0 | €293 | +€293 | |
| Credit institutions | 430/8 | €0 | €293 | +€293 | |
| Trade debts | 44 | €87,081 | €57,797 | -€29,284 | -33.6% |
| Suppliers | 440/4 | €87,081 | €57,797 | -€29,284 | -33.6% |
| Taxes, remuneration and social security | 45 | €46,896 | €80,202 | +€33,306 | +71.0% |
| Taxes | 450/3 | €21,935 | €57,025 | +€35,090 | +160% |
| Remuneration and social security | 454/9 | €24,961 | €23,177 | -€1,784 | -7.1% |
| Other amounts payable | 47/48 | €193,011 | €116,931 | -€76,080 | -39.4% |
| Accrued charges and deferred income | 492/3 | €12,308 | €39,305 | +€26,997 | +219% |
| Remuneration, social security and pensions | 62 | €207,452 | €182,208 | -€25,243 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,196 | €136,939 | -€257 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€869 | €0 | +€869 | |
| Other operating charges | 640/8 | €8,178 | €7,806 | -€371 | -4.5% |
| Gross operating margin | 9900 | €454,157 | €518,726 | +€64,569 | +14.2% |
| Operating profit (loss) | 9901 | €102,201 | €191,772 | +€89,572 | +87.6% |
| Financial income | 75/76B | €768 | €505 | -€263 | -34.2% |
| Recurring financial income | 75 | €768 | €505 | -€263 | -34.2% |
| Financial charges | 65/66B | €31,038 | €24,054 | -€6,984 | -22.5% |
| Recurring financial charges | 65 | €31,038 | €24,054 | -€6,984 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €71,931 | €168,224 | +€96,293 | +134% |
| Income taxes | 67/77 | €27,792 | €61,960 | +€34,168 | +123% |
| Profit (loss) for the period | 9904 | €44,139 | €106,264 | +€62,124 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €44,139 | €106,264 | +€62,124 | +141% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.