N & N PROJECTS: 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 & N PROJECTS
Largest movements
- Tangible fixed assets -€16,921
down €16,921 (-22.4%), from €75,418 to €58,497
of which Leasing and similar rights: -€16,796
- Cash -€5,891
down €5,891 (-88.8%), from €6,634 to €743
mainly Debts after one year (-€16,704) and Current portion of long-term debt (-€5,698)
- Receivables within one year +€1,776
up €1,776 (+11.5%), from €15,447 to €17,223
of which Trade receivables: +€3,333
- Debts after one year -€16,704
down €16,704 (-40.6%), from €41,154 to €24,449
- Current portion of long-term debt -€5,698
down €5,698 (-25.4%), from €22,403 to €16,704
- Gross operating margin -€11,315
down €11,315 (-30.7%), from €36,813 to €25,498
- Taxes -€2,174
down €2,174 (-63.8%), from €3,409 to €1,235
- Other operating charges +€1,441
up €1,441 (+64.0%), from €2,253 to €3,694
- Depreciation -€1,268
down €1,268 (-6.4%), from €19,796 to €18,528
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 | €99,897 | €78,040 | -€21,857 | -21.9% |
| Formation expenses | 20 | €458 | €258 | -€200 | -43.7% |
| Fixed assets | 21/28 | €75,418 | €58,497 | -€16,921 | -22.4% |
| Tangible fixed assets | 22/27 | €75,418 | €58,497 | -€16,921 | -22.4% |
| Land and buildings | 22 | €953 | €840 | -€114 | -11.9% |
| Furniture and vehicles | 24 | €18,863 | €18,852 | -€12 | -0.1% |
| Leasing and similar rights | 25 | €55,601 | €38,805 | -€16,796 | -30.2% |
| Current assets | 29/58 | €24,022 | €19,286 | -€4,736 | -19.7% |
| Amounts receivable within one year | 40/41 | €15,447 | €17,223 | +€1,776 | +11.5% |
| Trade receivables | 40 | €13,559 | €16,891 | +€3,333 | +24.6% |
| Other amounts receivable | 41 | €1,888 | €331 | -€1,557 | -82.5% |
| Cash at bank and in hand | 54/58 | €6,634 | €743 | -€5,891 | -88.8% |
| Deferred charges and accrued income | 490/1 | €1,940 | €1,320 | -€620 | -32.0% |
| Total equity and liabilities | 10/49 | €99,897 | €78,040 | -€21,857 | -21.9% |
| Equity | 10/15 | €24,028 | €24,043 | +€15 | +0.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,028 | €21,043 | +€15 | +0.1% |
| Distributable reserves | 133 | €21,028 | €21,043 | +€15 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €75,869 | €53,998 | -€21,872 | -28.8% |
| Amounts payable after more than one year | 17 | €41,154 | €24,449 | -€16,704 | -40.6% |
| Financial debts | 170/4 | €41,154 | €24,449 | -€16,704 | -40.6% |
| Amounts payable within one year | 42/48 | €34,716 | €29,548 | -€5,167 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €22,403 | €16,704 | -€5,698 | -25.4% |
| Trade debts | 44 | €3,116 | €3,346 | +€230 | +7.4% |
| Suppliers | 440/4 | €3,116 | €3,346 | +€230 | +7.4% |
| Taxes, remuneration and social security | 45 | €9,197 | €9,498 | +€301 | +3.3% |
| Taxes | 450/3 | €9,197 | €7,648 | -€1,549 | -16.8% |
| Remuneration and social security | 454/9 | €0 | €1,850 | +€1,850 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,796 | €18,528 | -€1,268 | -6.4% |
| Other operating charges | 640/8 | €2,253 | €3,694 | +€1,441 | +64.0% |
| Gross operating margin | 9900 | €36,813 | €25,498 | -€11,315 | -30.7% |
| Operating profit (loss) | 9901 | €14,764 | €3,277 | -€11,488 | -77.8% |
| Financial income | 75/76B | €77 | €66 | -€11 | -14.0% |
| Recurring financial income | 75 | €77 | €66 | -€11 | -14.0% |
| Financial charges | 65/66B | €1,983 | €2,093 | +€109 | +5.5% |
| Recurring financial charges | 65 | €1,983 | €2,093 | +€109 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €12,858 | €1,250 | -€11,608 | -90.3% |
| Income taxes | 67/77 | €3,409 | €1,235 | -€2,174 | -63.8% |
| Profit (loss) for the period | 9904 | €9,449 | €15 | -€9,434 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,449 | €15 | -€9,434 | -99.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.