N.M.O.: 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.O.
Largest movements
- Current investments -€20,000
no longer reported in 2025 (was €20,000)
- Cash +€11,459
up €11,459 (+49.8%), from €23,031 to €34,490
mainly Tax, wage and social debts (+€30,510) and Depreciation (+€28,759)
- Deferred charges and accrued income -€4,861
no longer reported in 2025 (was €4,861)
- Tangible fixed assets +€4,273
up €4,273 (+11.0%), from €38,819 to €43,092
of which Furniture and vehicles: +€27,913
- Stocks and contracts -€1,839
down €1,839 (-19.9%), from €9,236 to €7,396
- Profit (loss) carried forward -€58,623
down €58,623 (-91.1%), from -€64,383 to -€123,006
- Tax, wage and social debts +€30,510
up €30,510 (+88.7%), from €34,412 to €64,922
of which Remuneration and social security: +€27,976
- Debts after one year +€17,578
new in 2025: €17,578
- Other debts -€15,745
down €15,745 (-14.7%), from €107,369 to €91,623
- Current portion of long-term debt +€8,710
new in 2025: €8,710
- Staff costs +€45,673
up €45,673 (+19.8%), from €230,235 to €275,908
- Gross operating margin -€10,527
down €10,527 (-4.0%), from €262,526 to €251,999
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 | €115,498 | €104,528 | -€10,969 | -9.5% |
| Fixed assets | 21/28 | €58,369 | €62,642 | +€4,273 | +7.3% |
| Tangible fixed assets | 22/27 | €38,819 | €43,092 | +€4,273 | +11.0% |
| Plant, machinery and equipment | 23 | €3,354 | €4,269 | +€915 | +27.3% |
| Furniture and vehicles | 24 | €3,258 | €31,170 | +€27,913 | +857% |
| Other tangible fixed assets | 26 | €32,207 | €7,652 | -€24,555 | -76.2% |
| Financial fixed assets | 28 | €19,550 | €19,550 | = | 0.0% |
| Current assets | 29/58 | €57,128 | €41,887 | -€15,242 | -26.7% |
| Stocks and contracts in progress | 3 | €9,236 | €7,396 | -€1,839 | -19.9% |
| Stocks | 30/36 | €9,236 | €7,396 | -€1,839 | -19.9% |
| Current investments | 50/53 | €20,000 | - | -€20,000 | |
| Cash at bank and in hand | 54/58 | €23,031 | €34,490 | +€11,459 | +49.8% |
| Deferred charges and accrued income | 490/1 | €4,861 | - | -€4,861 | |
| Total equity and liabilities | 10/49 | €115,498 | €104,528 | -€10,969 | -9.5% |
| Equity | 10/15 | -€33,923 | -€92,546 | -€58,623 | -173% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,383 | -€123,006 | -€58,623 | -91.1% |
| Amounts payable | 17/49 | €149,421 | €197,074 | +€47,654 | +31.9% |
| Amounts payable after more than one year | 17 | - | €17,578 | +€17,578 | |
| Financial debts | 170/4 | - | €17,578 | +€17,578 | |
| Amounts payable within one year | 42/48 | €149,421 | €179,497 | +€30,076 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,710 | +€8,710 | |
| Trade debts | 44 | €7,640 | €14,242 | +€6,602 | +86.4% |
| Suppliers | 440/4 | €7,640 | €14,242 | +€6,602 | +86.4% |
| Taxes, remuneration and social security | 45 | €34,412 | €64,922 | +€30,510 | +88.7% |
| Taxes | 450/3 | €10,482 | €13,016 | +€2,534 | +24.2% |
| Remuneration and social security | 454/9 | €23,930 | €51,906 | +€27,976 | +117% |
| Other amounts payable | 47/48 | €107,369 | €91,623 | -€15,745 | -14.7% |
| Remuneration, social security and pensions | 62 | €230,235 | €275,908 | +€45,673 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,736 | €28,759 | +€23 | +0.1% |
| Other operating charges | 640/8 | €2,653 | €4,113 | +€1,460 | +55.0% |
| Non-recurring operating charges | 66A | €5,251 | - | -€5,251 | |
| Gross operating margin | 9900 | €262,526 | €251,999 | -€10,527 | -4.0% |
| Operating profit (loss) | 9901 | -€4,349 | -€56,781 | -€52,433 | -1,206% |
| Financial income | 75/76B | €178 | - | -€178 | |
| Recurring financial income | 75 | €178 | - | -€178 | |
| Financial charges | 65/66B | €1,351 | €1,802 | +€451 | +33.4% |
| Recurring financial charges | 65 | €1,351 | €1,802 | +€451 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,521 | -€58,583 | -€53,062 | -961% |
| Income taxes | 67/77 | €187 | €40 | -€147 | -78.7% |
| Profit (loss) for the period | 9904 | -€5,709 | -€58,623 | -€52,914 | -927% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,709 | -€58,623 | -€52,914 | -927% |
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.