N & F: 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 & F
Largest movements
- Receivables within one year +€32,485
up €32,485 (+36.5%), from €88,957 to €121,442
- Tangible fixed assets -€7,299
down €7,299 (-12.8%), from €56,888 to €49,589
- Reserves +€24,880
up €24,880 (+34.1%), from €72,945 to €97,825
of which Distributable reserves: +€24,880
- Financial income +€2,425
up €2,425 (+61.6%), from €3,935 to €6,360
- Taxes +€869
up €869 (+7.3%), from €11,871 to €12,741
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 | €166,301 | €191,815 | +€25,513 | +15.3% |
| Fixed assets | 21/28 | €56,888 | €49,589 | -€7,299 | -12.8% |
| Tangible fixed assets | 22/27 | €56,888 | €49,589 | -€7,299 | -12.8% |
| Land and buildings | 22 | €56,888 | €49,589 | -€7,299 | -12.8% |
| Current assets | 29/58 | €109,413 | €142,226 | +€32,813 | +30.0% |
| Amounts receivable within one year | 40/41 | €88,957 | €121,442 | +€32,485 | +36.5% |
| Other amounts receivable | 41 | €88,957 | €121,442 | +€32,485 | +36.5% |
| Cash at bank and in hand | 54/58 | €20,456 | €20,784 | +€328 | +1.6% |
| Total equity and liabilities | 10/49 | €166,301 | €191,815 | +€25,513 | +15.3% |
| Equity | 10/15 | €153,973 | €178,856 | +€24,883 | +16.2% |
| Contributions | 10/11 | €64,452 | €64,452 | = | 0.0% |
| Capital | 10 | €64,452 | €64,452 | = | 0.0% |
| Issued capital | 100 | €64,452 | €64,452 | = | 0.0% |
| Reserves | 13 | €72,945 | €97,825 | +€24,880 | +34.1% |
| Non-distributable reserves | 130/1 | €6,445 | €6,445 | = | 0.0% |
| Legal reserve | 130 | €6,445 | €6,445 | = | 0.0% |
| Distributable reserves | 133 | €66,500 | €91,380 | +€24,880 | +37.4% |
| Profit (loss) carried forward | 14 | €16,575 | €16,579 | +€3 | 0.0% |
| Amounts payable | 17/49 | €12,329 | €12,958 | +€630 | +5.1% |
| Amounts payable within one year | 42/48 | €12,329 | €12,958 | +€630 | +5.1% |
| Trade debts | 44 | €240 | - | -€240 | |
| Suppliers | 440/4 | €240 | - | -€240 | |
| Taxes, remuneration and social security | 45 | €11,871 | €12,741 | +€869 | +7.3% |
| Taxes | 450/3 | €11,871 | €12,741 | +€869 | +7.3% |
| Other amounts payable | 47/48 | €218 | €218 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,181 | €7,299 | +€118 | +1.6% |
| Other operating charges | 640/8 | €2,787 | €2,819 | +€32 | +1.1% |
| Gross operating margin | 9900 | €41,793 | €41,628 | -€165 | -0.4% |
| Operating profit (loss) | 9901 | €31,825 | €31,510 | -€315 | -1.0% |
| Financial income | 75/76B | €3,935 | €6,360 | +€2,425 | +61.6% |
| Recurring financial income | 75 | €3,935 | €6,360 | +€2,425 | +61.6% |
| Financial charges | 65/66B | €159 | €246 | +€87 | +55.0% |
| Recurring financial charges | 65 | €159 | €246 | +€87 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €35,602 | €37,624 | +€2,022 | +5.7% |
| Income taxes | 67/77 | €11,871 | €12,741 | +€869 | +7.3% |
| Profit (loss) for the period | 9904 | €23,731 | €24,883 | +€1,153 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,731 | €24,883 | +€1,153 | +4.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.