N.B.9: 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.
N.B.9
Largest movements
- Cash +€67,626
up €67,626 (+44.7%), from €151,338 to €218,964
mainly Depreciation (+€128,792) and Net result for the year (+€127,340)
- Receivables within one year -€30,652
down €30,652 (-85.9%), from €35,664 to €5,012
of which Trade receivables: -€23,255
- Profit (loss) carried forward +€64,190
up €64,190 (+13.8%), from €463,947 to €528,137
- Reserves +€63,150
up €63,150 (+2526.0%), from €2,500 to €65,650
of which Tax-exempt reserves: +€63,150
- Debts after one year -€61,111
down €61,111 (-23.7%), from €257,580 to €196,468
- Current portion of long-term debt -€25,076
down €25,076 (-12.6%), from €199,162 to €174,087
- Trade debts -€22,658
down €22,658 (-31.1%), from €72,872 to €50,214
- Gross operating margin +€42,058
up €42,058 (+11.7%), from €358,368 to €400,426
- Other operating charges +€11,991
up €11,991 (+34.6%), from €34,634 to €46,625
- Taxes +€6,701
up €6,701 (+18.4%), from €36,344 to €43,046
- Depreciation -€4,655
down €4,655 (-3.5%), from €133,447 to €128,792
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.
Cash bridge derived
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 | €1,103,110 | €1,147,831 | +€44,721 | +4.1% |
| Fixed assets | 21/28 | €880,709 | €890,497 | +€9,788 | +1.1% |
| Tangible fixed assets | 22/27 | €880,346 | €890,134 | +€9,788 | +1.1% |
| Land and buildings | 22 | €778,303 | €816,534 | +€38,231 | +4.9% |
| Plant, machinery and equipment | 23 | €5,870 | €4,732 | -€1,138 | -19.4% |
| Furniture and vehicles | 24 | €96,173 | €53,296 | -€42,877 | -44.6% |
| Leasing and similar rights | 25 | - | €15,573 | +€15,573 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €222,401 | €257,333 | +€34,933 | +15.7% |
| Stocks and contracts in progress | 3 | €21,488 | €21,488 | = | 0.0% |
| Stocks | 30/36 | €21,488 | €21,488 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,664 | €5,012 | -€30,652 | -85.9% |
| Trade receivables | 40 | €26,161 | €2,906 | -€23,255 | -88.9% |
| Other amounts receivable | 41 | €9,503 | €2,106 | -€7,397 | -77.8% |
| Cash at bank and in hand | 54/58 | €151,338 | €218,964 | +€67,626 | +44.7% |
| Deferred charges and accrued income | 490/1 | €13,911 | €11,869 | -€2,042 | -14.7% |
| Total equity and liabilities | 10/49 | €1,103,110 | €1,147,831 | +€44,721 | +4.1% |
| Equity | 10/15 | €491,447 | €618,787 | +€127,340 | +25.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €65,650 | +€63,150 | +2526.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Profit (loss) carried forward | 14 | €463,947 | €528,137 | +€64,190 | +13.8% |
| Amounts payable | 17/49 | €611,663 | €529,044 | -€82,619 | -13.5% |
| Amounts payable after more than one year | 17 | €257,580 | €196,468 | -€61,111 | -23.7% |
| Financial debts | 170/4 | €257,580 | €196,468 | -€61,111 | -23.7% |
| Amounts payable within one year | 42/48 | €354,083 | €332,576 | -€21,508 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €199,162 | €174,087 | -€25,076 | -12.6% |
| Trade debts | 44 | €72,872 | €50,214 | -€22,658 | -31.1% |
| Suppliers | 440/4 | €72,872 | €50,214 | -€22,658 | -31.1% |
| Taxes, remuneration and social security | 45 | €17,856 | €25,848 | +€7,992 | +44.8% |
| Taxes | 450/3 | €14,538 | €22,352 | +€7,813 | +53.7% |
| Remuneration and social security | 454/9 | €3,317 | €3,496 | +€178 | +5.4% |
| Other amounts payable | 47/48 | €64,193 | €82,428 | +€18,234 | +28.4% |
| Remuneration, social security and pensions | 62 | €48,765 | €45,127 | -€3,638 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,447 | €128,792 | -€4,655 | -3.5% |
| Other operating charges | 640/8 | €34,634 | €46,625 | +€11,991 | +34.6% |
| Non-recurring operating charges | 66A | - | €912 | +€912 | |
| Gross operating margin | 9900 | €358,368 | €400,426 | +€42,058 | +11.7% |
| Operating profit (loss) | 9901 | €141,523 | €178,971 | +€37,448 | +26.5% |
| Financial income | 75/76B | €2,660 | €590 | -€2,070 | -77.8% |
| Recurring financial income | 75 | €2,660 | €590 | -€2,070 | -77.8% |
| Financial charges | 65/66B | €11,338 | €9,175 | -€2,163 | -19.1% |
| Recurring financial charges | 65 | €11,338 | €9,175 | -€2,163 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €132,845 | €170,386 | +€37,541 | +28.3% |
| Income taxes | 67/77 | €36,344 | €43,046 | +€6,701 | +18.4% |
| Profit (loss) for the period | 9904 | €96,501 | €127,340 | +€30,839 | +32.0% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €96,501 | €64,190 | -€32,311 | -33.5% |
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 11 October 2026 via checked.be.