NAM: 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.
NAM
Largest movements
- Cash +€22,066
up €22,066 (+44.7%), from €49,346 to €71,412
mainly Net result for the year (+€10,384) and Stocks and contracts (+€6,787)
- Stocks and contracts -€6,787
down €6,787 (-11.2%), from €60,700 to €53,913
- Tangible fixed assets -€2,400
no longer reported in 2024 (was €2,400)
of which Furniture and vehicles: -€2,000
- Receivables within one year +€1,729
up €1,729 (+128%), from €1,346 to €3,075
- Profit (loss) carried forward +€10,384
up €10,384 (+21.0%), from €49,358 to €59,742
- Tax, wage and social debts +€3,920
up €3,920 (+14.9%), from €26,369 to €30,289
of which Taxes: +€11,458
- Staff costs +€13,987
up €13,987 (+14.9%), from €93,815 to €107,802
- Financial charges -€1,609
down €1,609 (-68.2%), from €2,358 to €749
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,131 | €144,590 | +€14,459 | +11.1% |
| Fixed assets | 21/28 | €3,086 | €686 | -€2,400 | -77.8% |
| Tangible fixed assets | 22/27 | €2,400 | - | -€2,400 | |
| Plant, machinery and equipment | 23 | €400 | - | -€400 | |
| Furniture and vehicles | 24 | €2,000 | - | -€2,000 | |
| Financial fixed assets | 28 | €686 | €686 | = | 0.0% |
| Current assets | 29/58 | €127,045 | €143,904 | +€16,859 | +13.3% |
| Stocks and contracts in progress | 3 | €60,700 | €53,913 | -€6,787 | -11.2% |
| Stocks | 30/36 | €60,700 | €53,913 | -€6,787 | -11.2% |
| Amounts receivable within one year | 40/41 | €1,346 | €3,075 | +€1,729 | +128% |
| Trade receivables | 40 | €1,346 | €3,075 | +€1,729 | +128% |
| Current investments | 50/53 | €15,504 | €15,504 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,346 | €71,412 | +€22,066 | +44.7% |
| Deferred charges and accrued income | 490/1 | €149 | - | -€149 | |
| Total equity and liabilities | 10/49 | €130,131 | €144,590 | +€14,459 | +11.1% |
| Equity | 10/15 | €97,077 | €107,461 | +€10,384 | +10.7% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €4,338 | €4,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,338 | €4,338 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,338 | €4,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,358 | €59,742 | +€10,384 | +21.0% |
| Amounts payable | 17/49 | €33,054 | €37,129 | +€4,075 | +12.3% |
| Amounts payable within one year | 42/48 | €33,054 | €37,129 | +€4,075 | +12.3% |
| Trade debts | 44 | €6,685 | €6,840 | +€155 | +2.3% |
| Suppliers | 440/4 | €6,685 | €6,840 | +€155 | +2.3% |
| Taxes, remuneration and social security | 45 | €26,369 | €30,289 | +€3,920 | +14.9% |
| Taxes | 450/3 | €3,072 | €14,530 | +€11,458 | +373% |
| Remuneration and social security | 454/9 | €23,297 | €15,759 | -€7,538 | -32.4% |
| Remuneration, social security and pensions | 62 | €93,815 | €107,802 | +€13,987 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400 | €2,400 | = | 0.0% |
| Other operating charges | 640/8 | €5,072 | €4,788 | -€284 | -5.6% |
| Gross operating margin | 9900 | €126,548 | €126,123 | -€425 | -0.3% |
| Operating profit (loss) | 9901 | €25,261 | €11,133 | -€14,128 | -55.9% |
| Financial charges | 65/66B | €2,358 | €749 | -€1,609 | -68.2% |
| Recurring financial charges | 65 | €2,358 | €749 | -€1,609 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | €22,903 | €10,384 | -€12,519 | -54.7% |
| Profit (loss) for the period | 9904 | €22,903 | €10,384 | -€12,519 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,903 | €10,384 | -€12,519 | -54.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.