N.J.M.: 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.J.M.
Largest movements
- Receivables within one year -€192,518
down €192,518 (-100%), from €192,518 to €0
of which Other amounts receivable: -€192,518
- Tangible fixed assets -€23,332
down €23,332 (-3.7%), from €631,973 to €608,641
- Other debts -€134,683
down €134,683 (-100%), from €134,683 to €0
- Reserves -€40,356
down €40,356 (-14.8%), from €272,153 to €231,797
of which Distributable reserves: -€30,375
- Debts after one year -€36,341
down €36,341 (-16.3%), from €223,061 to €186,720
- Financial charges -€2,632
down €2,632 (-34.0%), from €7,730 to €5,099
- Gross operating margin -€2,596
down €2,596 (-6.4%), from €40,845 to €38,249
- Financial income -€1,637
down €1,637 (-55.6%), from €2,943 to €1,306
- Taxes -€1,373
down €1,373 (-20.4%), from €6,733 to €5,360
- Other operating charges -€635
down €635 (-18.5%), from €3,440 to €2,805
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 | €825,631 | €613,027 | -€212,605 | -25.8% |
| Fixed assets | 21/28 | €631,973 | €608,641 | -€23,332 | -3.7% |
| Tangible fixed assets | 22/27 | €631,973 | €608,641 | -€23,332 | -3.7% |
| Land and buildings | 22 | €631,973 | €608,641 | -€23,332 | -3.7% |
| Current assets | 29/58 | €193,658 | €4,386 | -€189,273 | -97.7% |
| Amounts receivable within one year | 40/41 | €192,518 | €0 | -€192,518 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €192,518 | €0 | -€192,518 | -100% |
| Cash at bank and in hand | 54/58 | €0 | €3,428 | +€3,428 | |
| Deferred charges and accrued income | 490/1 | €1,140 | €957 | -€183 | -16.0% |
| Total equity and liabilities | 10/49 | €825,631 | €613,027 | -€212,605 | -25.8% |
| Equity | 10/15 | €346,521 | €306,165 | -€40,356 | -11.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €272,153 | €231,797 | -€40,356 | -14.8% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,346 | €200,365 | -€9,981 | -4.7% |
| Distributable reserves | 133 | €54,371 | €23,995 | -€30,375 | -55.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €70,115 | €66,788 | -€3,327 | -4.7% |
| Deferred taxes | 168 | €70,115 | €66,788 | -€3,327 | -4.7% |
| Amounts payable | 17/49 | €408,995 | €240,073 | -€168,922 | -41.3% |
| Amounts payable after more than one year | 17 | €223,061 | €186,720 | -€36,341 | -16.3% |
| Financial debts | 170/4 | €223,061 | €186,720 | -€36,341 | -16.3% |
| Amounts payable within one year | 42/48 | €185,934 | €53,353 | -€132,581 | -71.3% |
| Current portion of amounts payable after more than one year | 42 | €36,096 | €36,341 | +€245 | +0.7% |
| Trade debts | 44 | €1,428 | €1,613 | +€184 | +12.9% |
| Suppliers | 440/4 | €1,428 | €1,613 | +€184 | +12.9% |
| Taxes, remuneration and social security | 45 | €13,727 | €15,400 | +€1,673 | +12.2% |
| Taxes | 450/3 | €13,727 | €15,400 | +€1,673 | +12.2% |
| Other amounts payable | 47/48 | €134,683 | €0 | -€134,683 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €4,871 | +€4,871 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,332 | €23,332 | = | 0.0% |
| Other operating charges | 640/8 | €3,440 | €2,805 | -€635 | -18.5% |
| Gross operating margin | 9900 | €40,845 | €38,249 | -€2,596 | -6.4% |
| Operating profit (loss) | 9901 | €14,073 | €12,112 | -€1,961 | -13.9% |
| Financial income | 75/76B | €2,943 | €1,306 | -€1,637 | -55.6% |
| Recurring financial income | 75 | €2,943 | €1,306 | -€1,637 | -55.6% |
| Financial charges | 65/66B | €7,730 | €5,099 | -€2,632 | -34.0% |
| Recurring financial charges | 65 | €7,730 | €5,099 | -€2,632 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €9,286 | €8,319 | -€967 | -10.4% |
| Transfer from deferred taxes | 780 | €3,327 | €3,327 | = | 0.0% |
| Income taxes | 67/77 | €6,733 | €5,360 | -€1,373 | -20.4% |
| Profit (loss) for the period | 9904 | €5,880 | €6,286 | +€406 | +6.9% |
| Transfer from tax-exempt reserves | 789 | €9,981 | €9,981 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,860 | €16,266 | +€406 | +2.6% |
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 19 October 2026 via checked.be.