N.M.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.M.M.
Largest movements
- Tangible fixed assets -€39,217
down €39,217 (-12.6%), from €311,999 to €272,782
of which Leasing and similar rights: -€23,940
- Receivables within one year +€34,239
up €34,239 (+42.9%), from €79,787 to €114,026
of which Trade receivables: +€24,215
- Cash -€10,444
down €10,444 (-43.6%), from €23,974 to €13,530
mainly Debts after one year (-€40,638) and Receivables within one year (-€34,239)
- Debts after one year -€40,638
down €40,638 (-21.8%), from €186,571 to €145,933
- Other debts +€13,339
up €13,339 (+803%), from €1,661 to €15,000
- Trade debts +€10,348
up €10,348 (+199%), from €5,207 to €15,554
- Tax, wage and social debts -€8,030
down €8,030 (-62.0%), from €12,958 to €4,928
of which Remuneration and social security: -€6,793
- Profit (loss) carried forward +€5,473
up €5,473 (+3.5%), from €156,631 to €162,105
- Staff costs +€37,553
up €37,553 (+26.8%), from €140,140 to €177,693
- Gross operating margin +€28,369
up €28,369 (+12.4%), from €228,484 to €256,853
- Taxes -€4,951
down €4,951 (-41.0%), from €12,081 to €7,130
- Financial income +€2,785
up €2,785 (+178%), from €1,565 to €4,350
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 | €435,041 | €419,619 | -€15,422 | -3.5% |
| Fixed assets | 21/28 | €311,999 | €272,782 | -€39,217 | -12.6% |
| Tangible fixed assets | 22/27 | €311,999 | €272,782 | -€39,217 | -12.6% |
| Plant, machinery and equipment | 23 | €0 | €1,052 | +€1,052 | |
| Furniture and vehicles | 24 | €51,660 | €35,332 | -€16,329 | -31.6% |
| Leasing and similar rights | 25 | €260,339 | €236,399 | -€23,940 | -9.2% |
| Current assets | 29/58 | €123,041 | €146,836 | +€23,795 | +19.3% |
| Stocks and contracts in progress | 3 | €19,280 | €19,280 | = | 0.0% |
| Stocks | 30/36 | €19,280 | €19,280 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €79,787 | €114,026 | +€34,239 | +42.9% |
| Trade receivables | 40 | €79,273 | €103,488 | +€24,215 | +30.5% |
| Other amounts receivable | 41 | €515 | €10,538 | +€10,023 | +1,948% |
| Cash at bank and in hand | 54/58 | €23,974 | €13,530 | -€10,444 | -43.6% |
| Total equity and liabilities | 10/49 | €435,041 | €419,619 | -€15,422 | -3.5% |
| Equity | 10/15 | €177,091 | €182,565 | +€5,473 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,631 | €162,105 | +€5,473 | +3.5% |
| Amounts payable | 17/49 | €257,949 | €237,054 | -€20,895 | -8.1% |
| Amounts payable after more than one year | 17 | €186,571 | €145,933 | -€40,638 | -21.8% |
| Financial debts | 170/4 | €186,571 | €145,933 | -€40,638 | -21.8% |
| Amounts payable within one year | 42/48 | €71,378 | €91,120 | +€19,742 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €51,552 | €55,638 | +€4,086 | +7.9% |
| Trade debts | 44 | €5,207 | €15,554 | +€10,348 | +199% |
| Suppliers | 440/4 | €5,207 | €15,554 | +€10,348 | +199% |
| Taxes, remuneration and social security | 45 | €12,958 | €4,928 | -€8,030 | -62.0% |
| Taxes | 450/3 | €1,238 | - | -€1,238 | |
| Remuneration and social security | 454/9 | €11,721 | €4,928 | -€6,793 | -58.0% |
| Other amounts payable | 47/48 | €1,661 | €15,000 | +€13,339 | +803% |
| Remuneration, social security and pensions | 62 | €140,140 | €177,693 | +€37,553 | +26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,986 | €40,269 | +€1,283 | +3.3% |
| Other operating charges | 640/8 | €3,388 | €3,243 | -€145 | -4.3% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €228,484 | €256,853 | +€28,369 | +12.4% |
| Operating profit (loss) | 9901 | €45,719 | €35,648 | -€10,071 | -22.0% |
| Financial income | 75/76B | €1,565 | €4,350 | +€2,785 | +178% |
| Recurring financial income | 75 | €1,565 | €4,350 | +€2,785 | +178% |
| Financial charges | 65/66B | €11,083 | €12,394 | +€1,311 | +11.8% |
| Recurring financial charges | 65 | €11,083 | €12,394 | +€1,311 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €36,201 | €27,604 | -€8,597 | -23.7% |
| Income taxes | 67/77 | €12,081 | €7,130 | -€4,951 | -41.0% |
| Profit (loss) for the period | 9904 | €24,120 | €20,473 | -€3,646 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,120 | €20,473 | -€3,646 | -15.1% |
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 27 October 2026 via checked.be.