N.B.S.: 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.S.
Largest movements
- Stocks and contracts -€144,570
down €144,570 (-44.4%), from €325,734 to €181,163
- Cash +€112,181
up €112,181 (+108%), from €103,772 to €215,953
mainly Stocks and contracts (+€144,570) and Net result for the year (+€46,218)
- Deferred charges and accrued income +€27,342
up €27,342 (+292%), from €9,370 to €36,712
- Tangible fixed assets -€23,974
down €23,974 (-19.6%), from €122,342 to €98,367
of which Plant, machinery and equipment: -€15,556
- Receivables within one year +€15,806
up €15,806 (+14.2%), from €111,492 to €127,298
- Other debts -€95,000
down €95,000 (-25.3%), from €375,000 to €280,000
- Profit (loss) carried forward +€46,218
up €46,218 (+112%), from €41,316 to €87,534
- Trade debts +€18,367
up €18,367 (+10.1%), from €181,471 to €199,839
- Tax, wage and social debts +€15,199
up €15,199 (+21.5%), from €70,558 to €85,757
of which Taxes: +€13,319
- Gross operating margin -€28,500
down €28,500 (-3.5%), from €810,126 to €781,625
- Taxes +€13,133
up €13,133 (+111%), from €11,807 to €24,940
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 | €688,805 | €673,589 | -€15,215 | -2.2% |
| Fixed assets | 21/28 | €138,438 | €112,464 | -€25,974 | -18.8% |
| Intangible fixed assets | 21 | €2,000 | - | -€2,000 | |
| Tangible fixed assets | 22/27 | €122,342 | €98,367 | -€23,974 | -19.6% |
| Plant, machinery and equipment | 23 | €100,319 | €84,763 | -€15,556 | -15.5% |
| Furniture and vehicles | 24 | €22,023 | €13,604 | -€8,419 | -38.2% |
| Financial fixed assets | 28 | €14,097 | €14,097 | = | 0.0% |
| Current assets | 29/58 | €550,367 | €561,126 | +€10,759 | +2.0% |
| Stocks and contracts in progress | 3 | €325,734 | €181,163 | -€144,570 | -44.4% |
| Stocks | 30/36 | €325,734 | €181,163 | -€144,570 | -44.4% |
| Amounts receivable within one year | 40/41 | €111,492 | €127,298 | +€15,806 | +14.2% |
| Trade receivables | 40 | €111,492 | €127,298 | +€15,806 | +14.2% |
| Cash at bank and in hand | 54/58 | €103,772 | €215,953 | +€112,181 | +108% |
| Deferred charges and accrued income | 490/1 | €9,370 | €36,712 | +€27,342 | +292% |
| Total equity and liabilities | 10/49 | €688,805 | €673,589 | -€15,215 | -2.2% |
| Equity | 10/15 | €61,776 | €107,994 | +€46,218 | +74.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,316 | €87,534 | +€46,218 | +112% |
| Amounts payable | 17/49 | €627,029 | €565,595 | -€61,433 | -9.8% |
| Amounts payable within one year | 42/48 | €627,029 | €565,595 | -€61,433 | -9.8% |
| Trade debts | 44 | €181,471 | €199,839 | +€18,367 | +10.1% |
| Suppliers | 440/4 | €181,471 | €199,839 | +€18,367 | +10.1% |
| Taxes, remuneration and social security | 45 | €70,558 | €85,757 | +€15,199 | +21.5% |
| Taxes | 450/3 | €11,807 | €25,126 | +€13,319 | +113% |
| Remuneration and social security | 454/9 | €58,751 | €60,631 | +€1,880 | +3.2% |
| Other amounts payable | 47/48 | €375,000 | €280,000 | -€95,000 | -25.3% |
| Remuneration, social security and pensions | 62 | €651,421 | €656,238 | +€4,817 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,989 | €42,415 | +€4,427 | +11.7% |
| Other operating charges | 640/8 | €2,894 | €3,296 | +€403 | +13.9% |
| Gross operating margin | 9900 | €810,126 | €781,625 | -€28,500 | -3.5% |
| Operating profit (loss) | 9901 | €117,822 | €79,675 | -€38,147 | -32.4% |
| Financial charges | 65/66B | €11,255 | €8,518 | -€2,738 | -24.3% |
| Recurring financial charges | 65 | €11,255 | €8,518 | -€2,738 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €106,567 | €71,158 | -€35,409 | -33.2% |
| Income taxes | 67/77 | €11,807 | €24,940 | +€13,133 | +111% |
| Profit (loss) for the period | 9904 | €94,760 | €46,218 | -€48,542 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €94,760 | €46,218 | -€48,542 | -51.2% |
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.