NAX BEHEER: 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.
NAX BEHEER
Largest movements
- Tangible fixed assets +€53,363
up €53,363 (+640%), from €8,342 to €61,705
- Reserves +€87,552
up €87,552 (+2.9%), from €3.0m to €3.1m
- Financial income -€484,069
down €484,069 (-93.2%), from €519,598 to €35,529
- Taxes -€43,620
down €43,620 (-52.1%), from €83,755 to €40,135
- Depreciation +€12,082
up €12,082 (+337%), from €3,590 to €15,673
- Gross operating margin +€7,003
up €7,003 (+6.8%), from €103,136 to €110,139
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 | €4,325,190 | €4,385,009 | +€59,819 | +1.4% |
| Fixed assets | 21/28 | €3,262,367 | €3,315,730 | +€53,363 | +1.6% |
| Tangible fixed assets | 22/27 | €8,342 | €61,705 | +€53,363 | +640% |
| Furniture and vehicles | 24 | €8,342 | €61,705 | +€53,363 | +640% |
| Financial fixed assets | 28 | €3,254,025 | €3,254,025 | = | 0.0% |
| Current assets | 29/58 | €1,062,823 | €1,069,279 | +€6,457 | +0.6% |
| Amounts receivable after more than one year | 29 | €600,000 | €600,000 | = | 0.0% |
| Other amounts receivable | 291 | €600,000 | €600,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,133 | €72,721 | +€25,588 | +54.3% |
| Trade receivables | 40 | €38,862 | €53,834 | +€14,971 | +38.5% |
| Other amounts receivable | 41 | €8,271 | €18,887 | +€10,617 | +128% |
| Cash at bank and in hand | 54/58 | €414,822 | €386,057 | -€28,765 | -6.9% |
| Deferred charges and accrued income | 490/1 | €868 | €10,501 | +€9,633 | +1,110% |
| Total equity and liabilities | 10/49 | €4,325,190 | €4,385,009 | +€59,819 | +1.4% |
| Equity | 10/15 | €4,242,314 | €4,329,865 | +€87,552 | +2.1% |
| Contributions | 10/11 | €1,262,800 | €1,262,800 | = | 0.0% |
| Reserves | 13 | €2,979,514 | €3,067,065 | +€87,552 | +2.9% |
| Distributable reserves | 133 | €2,979,514 | €3,067,065 | +€87,552 | +2.9% |
| Amounts payable | 17/49 | €82,876 | €55,144 | -€27,732 | -33.5% |
| Amounts payable within one year | 42/48 | €82,876 | €55,144 | -€27,732 | -33.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,049 | €2,750 | +€1,701 | +162% |
| Suppliers | 440/4 | €1,049 | €2,750 | +€1,701 | +162% |
| Taxes, remuneration and social security | 45 | €81,827 | €52,394 | -€29,434 | -36.0% |
| Taxes | 450/3 | €81,827 | €52,394 | -€29,434 | -36.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,590 | €15,673 | +€12,082 | +337% |
| Other operating charges | 640/8 | €1,853 | €1,743 | -€110 | -5.9% |
| Gross operating margin | 9900 | €103,136 | €110,139 | +€7,003 | +6.8% |
| Operating profit (loss) | 9901 | €97,693 | €92,724 | -€4,969 | -5.1% |
| Financial income | 75/76B | €519,598 | €35,529 | -€484,069 | -93.2% |
| Recurring financial income | 75 | €519,598 | €35,529 | -€484,069 | -93.2% |
| Financial charges | 65/66B | €1,233 | €566 | -€667 | -54.1% |
| Recurring financial charges | 65 | €1,233 | €566 | -€667 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €616,058 | €127,687 | -€488,371 | -79.3% |
| Income taxes | 67/77 | €83,755 | €40,135 | -€43,620 | -52.1% |
| Profit (loss) for the period | 9904 | €532,303 | €87,552 | -€444,751 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €532,303 | €87,552 | -€444,751 | -83.6% |
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 22 October 2026 via checked.be.