N-D M L: 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-D M L
Largest movements
- Receivables within one year +€24,105
up €24,105 (+156%), from €15,417 to €39,522
- Tangible fixed assets -€6,019
down €6,019 (-34.3%), from €17,525 to €11,506
of which Furniture and vehicles: -€5,600
- Cash -€1,965
down €1,965 (-86.7%), from €2,267 to €302
mainly Receivables within one year (-€24,105) and Trade debts (-€1,208)
- Profit (loss) carried forward +€15,566
up €15,566 (+57.1%), from €27,267 to €42,833
- Trade debts -€1,208
down €1,208 (-77.4%), from €1,561 to €353
- Current portion of long-term debt +€1,000
up €1,000 (+20.0%), from €5,000 to €6,000
- Tax, wage and social debts +€870
up €870 (+196%), from €444 to €1,314
- Gross operating margin -€3,014
down €3,014 (-9.8%), from €30,853 to €27,839
- Financial income +€1,422
up €1,422 (+1,730%), from €82 to €1,505
- Other operating charges +€546
up €546 (+57.9%), from €943 to €1,488
- Depreciation +€364
up €364 (+5.6%), from €6,544 to €6,908
- Financial charges +€330
up €330 (+476%), from €69 to €400
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 | €36,272 | €52,500 | +€16,229 | +44.7% |
| Fixed assets | 21/28 | €17,525 | €11,506 | -€6,019 | -34.3% |
| Tangible fixed assets | 22/27 | €17,525 | €11,506 | -€6,019 | -34.3% |
| Plant, machinery and equipment | 23 | €1,455 | €1,035 | -€419 | -28.8% |
| Furniture and vehicles | 24 | €16,071 | €10,471 | -€5,600 | -34.8% |
| Current assets | 29/58 | €18,746 | €40,994 | +€22,248 | +119% |
| Amounts receivable within one year | 40/41 | €15,417 | €39,522 | +€24,105 | +156% |
| Other amounts receivable | 41 | €15,417 | €39,522 | +€24,105 | +156% |
| Cash at bank and in hand | 54/58 | €2,267 | €302 | -€1,965 | -86.7% |
| Deferred charges and accrued income | 490/1 | €1,062 | €1,170 | +€108 | +10.2% |
| Total equity and liabilities | 10/49 | €36,272 | €52,500 | +€16,229 | +44.7% |
| Equity | 10/15 | €29,267 | €44,833 | +€15,566 | +53.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,267 | €42,833 | +€15,566 | +57.1% |
| Amounts payable | 17/49 | €7,005 | €7,667 | +€662 | +9.5% |
| Amounts payable within one year | 42/48 | €7,005 | €7,667 | +€662 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €6,000 | +€1,000 | +20.0% |
| Trade debts | 44 | €1,561 | €353 | -€1,208 | -77.4% |
| Suppliers | 440/4 | €1,561 | €353 | -€1,208 | -77.4% |
| Taxes, remuneration and social security | 45 | €444 | €1,314 | +€870 | +196% |
| Taxes | 450/3 | €444 | €1,314 | +€870 | +196% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,544 | €6,908 | +€364 | +5.6% |
| Other operating charges | 640/8 | €943 | €1,488 | +€546 | +57.9% |
| Gross operating margin | 9900 | €30,853 | €27,839 | -€3,014 | -9.8% |
| Operating profit (loss) | 9901 | €23,366 | €19,443 | -€3,924 | -16.8% |
| Financial income | 75/76B | €82 | €1,505 | +€1,422 | +1,730% |
| Recurring financial income | 75 | €82 | €1,505 | +€1,422 | +1,730% |
| Financial charges | 65/66B | €69 | €400 | +€330 | +476% |
| Recurring financial charges | 65 | €69 | €400 | +€330 | +476% |
| Profit (loss) for the period before taxes | 9903 | €23,379 | €20,548 | -€2,831 | -12.1% |
| Income taxes | 67/77 | €5,259 | €4,981 | -€277 | -5.3% |
| Profit (loss) for the period | 9904 | €18,120 | €15,566 | -€2,554 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,120 | €15,566 | -€2,554 | -14.1% |
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 25 October 2026 via checked.be.