N MANAGEMENT GROUP: 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 MANAGEMENT GROUP
Largest movements
- Cash -€54,485
down €54,485 (-99.5%), from €54,751 to €265
mainly Other debts (-€50,482) and Receivables within one year (-€11,800)
- Receivables within one year +€11,800
up €11,800 (+19.9%), from €59,229 to €71,029
of which Trade receivables: +€55,484
- Financial fixed assets +€2,550
new in 2025: €2,550
- Deferred charges and accrued income +€1,551
up €1,551 (+26.5%), from €5,863 to €7,414
- Other debts -€50,482
down €50,482 (-100%), from €50,482 to €0
- Trade debts +€12,544
up €12,544 (+575%), from €2,183 to €14,727
- Accrued charges and deferred income -€4,956
down €4,956 (-10.4%), from €47,647 to €42,691
- Profit (loss) carried forward +€3,507
up €3,507, from €0 to €3,507
- Gross operating margin -€56,888
down €56,888 (-89.2%), from €63,773 to €6,884
- Taxes -€11,981
down €11,981 (-79.6%), from €15,048 to €3,066
- Financial income -€3,634
down €3,634 (-77.2%), from €4,707 to €1,073
- Financial charges -€1,306
down €1,306 (-57.0%), from €2,290 to €984
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 | €119,843 | €81,259 | -€38,584 | -32.2% |
| Fixed assets | 21/28 | €0 | €2,550 | +€2,550 | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €119,843 | €78,709 | -€41,134 | -34.3% |
| Amounts receivable within one year | 40/41 | €59,229 | €71,029 | +€11,800 | +19.9% |
| Trade receivables | 40 | €30 | €55,514 | +€55,484 | +184,947% |
| Other amounts receivable | 41 | €59,199 | €15,515 | -€43,684 | -73.8% |
| Cash at bank and in hand | 54/58 | €54,751 | €265 | -€54,485 | -99.5% |
| Deferred charges and accrued income | 490/1 | €5,863 | €7,414 | +€1,551 | +26.5% |
| Total equity and liabilities | 10/49 | €119,843 | €81,259 | -€38,584 | -32.2% |
| Equity | 10/15 | €18,550 | €22,057 | +€3,507 | +18.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €3,507 | +€3,507 | |
| Amounts payable | 17/49 | €101,293 | €59,201 | -€42,091 | -41.6% |
| Amounts payable within one year | 42/48 | €53,645 | €16,510 | -€37,136 | -69.2% |
| Financial debts | 43 | - | €802 | +€802 | |
| Credit institutions | 430/8 | - | €802 | +€802 | |
| Trade debts | 44 | €2,183 | €14,727 | +€12,544 | +575% |
| Suppliers | 440/4 | €2,183 | €14,727 | +€12,544 | +575% |
| Taxes, remuneration and social security | 45 | €981 | €981 | = | 0.0% |
| Taxes | 450/3 | €981 | €981 | = | 0.0% |
| Other amounts payable | 47/48 | €50,482 | €0 | -€50,482 | -100% |
| Accrued charges and deferred income | 492/3 | €47,647 | €42,691 | -€4,956 | -10.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136 | €0 | -€136 | -100% |
| Other operating charges | 640/8 | €524 | €400 | -€124 | -23.7% |
| Gross operating margin | 9900 | €63,773 | €6,884 | -€56,888 | -89.2% |
| Operating profit (loss) | 9901 | €63,112 | €6,484 | -€56,628 | -89.7% |
| Financial income | 75/76B | €4,707 | €1,073 | -€3,634 | -77.2% |
| Recurring financial income | 75 | €4,707 | €1,073 | -€3,634 | -77.2% |
| Financial charges | 65/66B | €2,290 | €984 | -€1,306 | -57.0% |
| Recurring financial charges | 65 | €2,290 | €984 | -€1,306 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €65,530 | €6,574 | -€58,956 | -90.0% |
| Income taxes | 67/77 | €15,048 | €3,066 | -€11,981 | -79.6% |
| Profit (loss) for the period | 9904 | €50,482 | €3,507 | -€46,975 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,482 | €3,507 | -€46,975 | -93.1% |
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.