N-LOGIC: 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-LOGIC
Largest movements
- Tangible fixed assets -€9,356
down €9,356 (-31.2%), from €29,968 to €20,612
- Receivables within one year -€2,528
down €2,528 (-51.1%), from €4,948 to €2,420
of which Trade receivables: -€2,420
- Cash +€2,322
up €2,322 (+1542.2%), from €151 to €2,473
mainly Depreciation (+€9,356) and Receivables within one year (+€2,528)
- Current portion of long-term debt -€10,228
down €10,228 (-100.0%), from €10,228 to €0
- Tax, wage and social debts +€633
up €633 (+268.0%), from €236 to €870
- Trade debts -€586
down €586 (-46.3%), from €1,265 to €679
- Other debts +€556
up €556 (+1.3%), from €41,922 to €42,478
- Depreciation +€2,964
up €2,964 (+46.4%), from €6,392 to €9,356
- Gross operating margin +€1,732
up €1,732 (+20.2%), from €8,573 to €10,305
- Financial charges -€154
down €154 (-44.7%), from €344 to €190
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 | €36,845 | €27,282 | -€9,562 | -26.0% |
| Fixed assets | 21/28 | €29,968 | €20,612 | -€9,356 | -31.2% |
| Tangible fixed assets | 22/27 | €29,968 | €20,612 | -€9,356 | -31.2% |
| Furniture and vehicles | 24 | €29,968 | €20,612 | -€9,356 | -31.2% |
| Current assets | 29/58 | €6,876 | €6,670 | -€206 | -3.0% |
| Amounts receivable within one year | 40/41 | €4,948 | €2,420 | -€2,528 | -51.1% |
| Trade receivables | 40 | €4,840 | €2,420 | -€2,420 | -50.0% |
| Other amounts receivable | 41 | €108 | €0 | -€108 | -100.0% |
| Cash at bank and in hand | 54/58 | €151 | €2,473 | +€2,322 | +1542.2% |
| Deferred charges and accrued income | 490/1 | €1,778 | €1,777 | -€1 | -0.1% |
| Total equity and liabilities | 10/49 | €36,845 | €27,282 | -€9,562 | -26.0% |
| Equity | 10/15 | -€16,807 | -€16,744 | +€63 | +0.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,807 | -€18,744 | +€63 | +0.3% |
| Amounts payable | 17/49 | €53,651 | €44,026 | -€9,625 | -17.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €53,651 | €44,026 | -€9,625 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €10,228 | €0 | -€10,228 | -100.0% |
| Trade debts | 44 | €1,265 | €679 | -€586 | -46.3% |
| Suppliers | 440/4 | €1,265 | €679 | -€586 | -46.3% |
| Taxes, remuneration and social security | 45 | €236 | €870 | +€633 | +268.0% |
| Taxes | 450/3 | €236 | €870 | +€633 | +268.0% |
| Other amounts payable | 47/48 | €41,922 | €42,478 | +€556 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,392 | €9,356 | +€2,964 | +46.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €8,573 | €10,305 | +€1,732 | +20.2% |
| Operating profit (loss) | 9901 | €1,675 | €429 | -€1,246 | -74.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €344 | €190 | -€154 | -44.7% |
| Recurring financial charges | 65 | €344 | €190 | -€154 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €1,331 | €239 | -€1,093 | -82.1% |
| Income taxes | 67/77 | €163 | €176 | +€14 | +8.4% |
| Profit (loss) for the period | 9904 | €1,169 | €63 | -€1,106 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,169 | €63 | -€1,106 | -94.6% |
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 3 October 2026 via checked.be.