NATE: what changed
NATE
Largest movements
- Current investments +€21,510
up €21,510 (+29.2%), from €73,750 to €95,260
- Tangible fixed assets +€3,290
up €3,290 (+19.1%), from €17,183 to €20,473
of which Land and buildings: +€3,927
- Deferred charges and accrued income +€2,388
up €2,388 (+662%), from €361 to €2,749
- Cash -€1,674
down €1,674 (-4.1%), from €40,408 to €38,733
mainly Current investments (-€21,510) and Investment in fixed assets (net) (-€7,258)
- Reserves +€17,056
up €17,056 (+16.2%), from €104,998 to €122,055
of which Distributable reserves: +€17,056
- Other debts +€7,212
up €7,212 (+177%), from €4,069 to €11,281
- Gross operating margin +€3,854
up €3,854 (+15.1%), from €25,535 to €29,388
- Taxes +€561
up €561 (+7.0%), from €8,002 to €8,563
- Depreciation +€538
up €538 (+15.7%), from €3,430 to €3,968
- Financial income +€331
up €331 (+26.6%), from €1,243 to €1,575
- Financial charges +€295
up €295 (+52.6%), from €561 to €856
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,855 | €157,216 | +€25,362 | +19.2% |
| Fixed assets | 21/28 | €17,183 | €20,473 | +€3,290 | +19.1% |
| Tangible fixed assets | 22/27 | €17,183 | €20,473 | +€3,290 | +19.1% |
| Land and buildings | 22 | €15,274 | €19,200 | +€3,927 | +25.7% |
| Plant, machinery and equipment | 23 | €1,910 | €1,273 | -€637 | -33.3% |
| Current assets | 29/58 | €114,672 | €136,743 | +€22,071 | +19.2% |
| Amounts receivable within one year | 40/41 | €153 | - | -€153 | |
| Other amounts receivable | 41 | €153 | - | -€153 | |
| Current investments | 50/53 | €73,750 | €95,260 | +€21,510 | +29.2% |
| Cash at bank and in hand | 54/58 | €40,408 | €38,733 | -€1,674 | -4.1% |
| Deferred charges and accrued income | 490/1 | €361 | €2,749 | +€2,388 | +662% |
| Total equity and liabilities | 10/49 | €131,855 | €157,216 | +€25,362 | +19.2% |
| Equity | 10/15 | €123,598 | €140,655 | +€17,056 | +13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,998 | €122,055 | +€17,056 | +16.2% |
| Tax-exempt reserves | 132 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €101,198 | €118,254 | +€17,056 | +16.9% |
| Amounts payable | 17/49 | €8,256 | €16,562 | +€8,305 | +101% |
| Amounts payable within one year | 42/48 | €8,256 | €16,497 | +€8,240 | +99.8% |
| Trade debts | 44 | €237 | €1,314 | +€1,077 | +454% |
| Suppliers | 440/4 | €237 | €1,314 | +€1,077 | +454% |
| Taxes, remuneration and social security | 45 | €3,950 | €3,901 | -€49 | -1.2% |
| Taxes | 450/3 | €2,950 | €3,901 | +€951 | +32.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €4,069 | €11,281 | +€7,212 | +177% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,430 | €3,968 | +€538 | +15.7% |
| Other operating charges | 640/8 | €580 | €520 | -€61 | -10.4% |
| Gross operating margin | 9900 | €25,535 | €29,388 | +€3,854 | +15.1% |
| Operating profit (loss) | 9901 | €21,525 | €24,901 | +€3,376 | +15.7% |
| Financial income | 75/76B | €1,243 | €1,575 | +€331 | +26.6% |
| Recurring financial income | 75 | €1,243 | €1,575 | +€331 | +26.6% |
| Financial charges | 65/66B | €561 | €856 | +€295 | +52.6% |
| Recurring financial charges | 65 | €561 | €856 | +€295 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €22,207 | €25,619 | +€3,412 | +15.4% |
| Income taxes | 67/77 | €8,002 | €8,563 | +€561 | +7.0% |
| Profit (loss) for the period | 9904 | €14,205 | €17,056 | +€2,852 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,205 | €17,056 | +€2,852 | +20.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.