N R: 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 R
Largest movements
- Cash +€37,403
up €37,403 (+36.5%), from €102,340 to €139,743
mainly Net result for the year (+€71,850) and Depreciation (+€9,556)
- Tangible fixed assets -€9,556
down €9,556 (-25.6%), from €37,386 to €27,830
- Receivables within one year +€8,985
up €8,985 (+31.5%), from €28,548 to €37,534
of which Trade receivables: +€5,029
- Profit (loss) carried forward +€71,017
up €71,017 (+41.8%), from €170,028 to €241,045
- Other debts -€20,181
down €20,181 (-21.2%), from €95,259 to €75,078
- Tax, wage and social debts -€10,402
down €10,402 (-66.4%), from €15,654 to €5,252
- Gross operating margin +€15,185
up €15,185 (+20.8%), from €72,942 to €88,127
- Financial income +€10,055
up €10,055 (+2,427%), from €414 to €10,469
- Taxes +€2,369
up €2,369 (+16.7%), from €14,164 to €16,534
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 | €286,274 | €324,941 | +€38,667 | +13.5% |
| Fixed assets | 21/28 | €155,386 | €145,830 | -€9,556 | -6.1% |
| Tangible fixed assets | 22/27 | €37,386 | €27,830 | -€9,556 | -25.6% |
| Furniture and vehicles | 24 | €37,386 | €27,830 | -€9,556 | -25.6% |
| Financial fixed assets | 28 | €118,000 | €118,000 | = | 0.0% |
| Current assets | 29/58 | €130,888 | €179,111 | +€48,223 | +36.8% |
| Amounts receivable within one year | 40/41 | €28,548 | €37,534 | +€8,985 | +31.5% |
| Trade receivables | 40 | €21,849 | €26,879 | +€5,029 | +23.0% |
| Other amounts receivable | 41 | €6,699 | €10,655 | +€3,956 | +59.1% |
| Cash at bank and in hand | 54/58 | €102,340 | €139,743 | +€37,403 | +36.5% |
| Deferred charges and accrued income | 490/1 | - | €1,834 | +€1,834 | |
| Total equity and liabilities | 10/49 | €286,274 | €324,941 | +€38,667 | +13.5% |
| Equity | 10/15 | €172,028 | €243,045 | +€71,017 | +41.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,028 | €241,045 | +€71,017 | +41.8% |
| Amounts payable | 17/49 | €114,246 | €81,896 | -€32,350 | -28.3% |
| Amounts payable within one year | 42/48 | €114,111 | €81,896 | -€32,215 | -28.2% |
| Trade debts | 44 | €3,198 | €1,566 | -€1,632 | -51.0% |
| Suppliers | 440/4 | €3,198 | €1,566 | -€1,632 | -51.0% |
| Taxes, remuneration and social security | 45 | €15,654 | €5,252 | -€10,402 | -66.4% |
| Taxes | 450/3 | €15,654 | €5,252 | -€10,402 | -66.4% |
| Other amounts payable | 47/48 | €95,259 | €75,078 | -€20,181 | -21.2% |
| Accrued charges and deferred income | 492/3 | €135 | €0 | -€135 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,556 | €9,556 | = | 0.0% |
| Other operating charges | 640/8 | €914 | €514 | -€400 | -43.8% |
| Non-recurring operating charges | 66A | - | €46 | +€46 | |
| Gross operating margin | 9900 | €72,942 | €88,127 | +€15,185 | +20.8% |
| Operating profit (loss) | 9901 | €62,472 | €78,010 | +€15,539 | +24.9% |
| Financial income | 75/76B | €414 | €10,469 | +€10,055 | +2,427% |
| Recurring financial income | 75 | €414 | €10,469 | +€10,055 | +2,427% |
| Financial charges | 65/66B | €89 | €96 | +€7 | +7.8% |
| Recurring financial charges | 65 | €89 | €96 | +€7 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €62,798 | €88,384 | +€25,586 | +40.7% |
| Income taxes | 67/77 | €14,164 | €16,534 | +€2,369 | +16.7% |
| Profit (loss) for the period | 9904 | €48,633 | €71,850 | +€23,217 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,633 | €71,850 | +€23,217 | +47.7% |
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 13 October 2026 via checked.be.