N.F.DEVELOPMENT: what changed
Two fiscal 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.DEVELOPMENT
Largest movements
- Cash -€242,108
down €242,108 (-59.7%), from €405,421 to €163,313
mainly Other debts (-€189,300) and Net result for the year (-€64,951)
- Receivables within one year -€7,474
down €7,474 (-85.6%), from €8,735 to €1,261
of which Trade receivables: -€7,417
- Other debts -€189,300
down €189,300 (-89.3%), from €212,084 to €22,784
- Profit (loss) carried forward -€64,951
down €64,951 (-12.8%), from €505,718 to €440,767
- Financial income -€27,345
no longer reported in 2025 (was €27,345)
- Gross operating margin -€25,749
down €25,749 (-82.8%), from -€31,082 to -€56,831
- Financial charges -€984
down €984 (-94.6%), from €1,040 to €56
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 | €736,359 | €478,794 | -€257,565 | -35.0% |
| Fixed assets | 21/28 | €321,005 | €314,101 | -€6,903 | -2.2% |
| Tangible fixed assets | 22/27 | €11,005 | €4,101 | -€6,903 | -62.7% |
| Plant, machinery and equipment | 23 | €1,484 | €1,302 | -€182 | -12.3% |
| Furniture and vehicles | 24 | €9,520 | €2,799 | -€6,721 | -70.6% |
| Financial fixed assets | 28 | €310,000 | €310,000 | = | 0.0% |
| Current assets | 29/58 | €415,354 | €164,693 | -€250,661 | -60.3% |
| Amounts receivable within one year | 40/41 | €8,735 | €1,261 | -€7,474 | -85.6% |
| Trade receivables | 40 | €8,677 | €1,261 | -€7,417 | -85.5% |
| Other amounts receivable | 41 | €57 | - | -€57 | |
| Cash at bank and in hand | 54/58 | €405,421 | €163,313 | -€242,108 | -59.7% |
| Deferred charges and accrued income | 490/1 | €1,199 | €119 | -€1,079 | -90.0% |
| Total equity and liabilities | 10/49 | €736,359 | €478,794 | -€257,565 | -35.0% |
| Equity | 10/15 | €510,718 | €445,767 | -€64,951 | -12.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €505,718 | €440,767 | -€64,951 | -12.8% |
| Amounts payable | 17/49 | €225,641 | €33,027 | -€192,613 | -85.4% |
| Amounts payable within one year | 42/48 | €225,641 | €33,027 | -€192,613 | -85.4% |
| Current portion of amounts payable after more than one year | 42 | €4,651 | - | -€4,651 | |
| Trade debts | 44 | €6,245 | €5,342 | -€903 | -14.5% |
| Suppliers | 440/4 | €6,245 | €5,342 | -€903 | -14.5% |
| Taxes, remuneration and social security | 45 | €2,661 | €4,902 | +€2,241 | +84.2% |
| Taxes | 450/3 | €181 | €2,422 | +€2,241 | +1235.1% |
| Remuneration and social security | 454/9 | €2,479 | €2,479 | = | 0.0% |
| Other amounts payable | 47/48 | €212,084 | €22,784 | -€189,300 | -89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,027 | €6,903 | -€123 | -1.8% |
| Other operating charges | 640/8 | €384 | €799 | +€414 | +107.8% |
| Gross operating margin | 9900 | -€31,082 | -€56,831 | -€25,749 | -82.8% |
| Operating profit (loss) | 9901 | -€38,493 | -€64,533 | -€26,040 | -67.6% |
| Financial income | 75/76B | €27,345 | - | -€27,345 | |
| Recurring financial income | 75 | €27,345 | - | -€27,345 | |
| Financial charges | 65/66B | €1,040 | €56 | -€984 | -94.6% |
| Recurring financial charges | 65 | €1,040 | €56 | -€984 | -94.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,188 | -€64,589 | -€52,401 | -429.9% |
| Income taxes | 67/77 | €174 | €362 | +€188 | +107.7% |
| Profit (loss) for the period | 9904 | -€12,363 | -€64,951 | -€52,589 | -425.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,363 | -€64,951 | -€52,589 | -425.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.