N.R. Management: 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. Management
Largest movements
- Cash +€13,185
up €13,185 (+1,603%), from €822 to €14,007
mainly Other debts (+€7,788) and Net result for the year (+€5,822)
- Receivables within one year -€5,162
down €5,162 (-80.5%), from €6,415 to €1,253
- Debts after one year -€9,500
no longer reported in 2025 (was €9,500)
- Other debts +€7,788
up €7,788 (+102%), from €7,612 to €15,400
- Profit (loss) carried forward +€5,822
up €5,822 (+53.7%), from -€10,842 to -€5,020
- Trade debts +€3,387
up €3,387 (+570%), from €594 to €3,982
- Gross operating margin +€17,383
up €17,383, from -€7,815 to €9,568
- Taxes +€1,704
up €1,704 (+451%), from €378 to €2,083
- Financial income +€673
new in 2025: €673
- Financial charges -€227
down €227 (-29.8%), from €760 to €533
- Depreciation -€99
down €99 (-6.6%), from €1,502 to €1,403
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 | €22,562 | €30,169 | +€7,607 | +33.7% |
| Fixed assets | 21/28 | €13,326 | €13,142 | -€184 | -1.4% |
| Tangible fixed assets | 22/27 | €2,326 | €2,142 | -€184 | -7.9% |
| Plant, machinery and equipment | 23 | €623 | €1,193 | +€570 | +91.4% |
| Furniture and vehicles | 24 | €1,293 | €949 | -€345 | -26.6% |
| Other tangible fixed assets | 26 | €410 | - | -€410 | |
| Financial fixed assets | 28 | €11,000 | €11,000 | = | 0.0% |
| Current assets | 29/58 | €9,236 | €17,027 | +€7,792 | +84.4% |
| Amounts receivable within one year | 40/41 | €6,415 | €1,253 | -€5,162 | -80.5% |
| Trade receivables | 40 | €6,415 | €1,253 | -€5,162 | -80.5% |
| Cash at bank and in hand | 54/58 | €822 | €14,007 | +€13,185 | +1,603% |
| Deferred charges and accrued income | 490/1 | €1,998 | €1,767 | -€231 | -11.6% |
| Total equity and liabilities | 10/49 | €22,562 | €30,169 | +€7,607 | +33.7% |
| Equity | 10/15 | -€1,011 | €4,811 | +€5,822 | |
| Reserves | 13 | €9,831 | €9,831 | = | 0.0% |
| Non-distributable reserves | 130/1 | €92 | - | -€92 | |
| Reserves not available under the articles | 1311 | €92 | - | -€92 | |
| Distributable reserves | 133 | €9,739 | €9,831 | +€92 | +0.9% |
| Profit (loss) carried forward | 14 | -€10,842 | -€5,020 | +€5,822 | +53.7% |
| Amounts payable | 17/49 | €23,573 | €25,358 | +€1,785 | +7.6% |
| Amounts payable after more than one year | 17 | €9,500 | - | -€9,500 | |
| Financial debts | 170/4 | €9,500 | - | -€9,500 | |
| Amounts payable within one year | 42/48 | €14,073 | €25,358 | +€11,285 | +80.2% |
| Trade debts | 44 | €594 | €3,982 | +€3,387 | +570% |
| Suppliers | 440/4 | €594 | €3,982 | +€3,387 | +570% |
| Taxes, remuneration and social security | 45 | €5,866 | €5,977 | +€111 | +1.9% |
| Taxes | 450/3 | €5,866 | €5,977 | +€111 | +1.9% |
| Other amounts payable | 47/48 | €7,612 | €15,400 | +€7,788 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,502 | €1,403 | -€99 | -6.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€7,815 | €9,568 | +€17,383 | |
| Operating profit (loss) | 9901 | -€9,704 | €7,765 | +€17,469 | |
| Financial income | 75/76B | - | €673 | +€673 | |
| Recurring financial income | 75 | - | €673 | +€673 | |
| Financial charges | 65/66B | €760 | €533 | -€227 | -29.8% |
| Recurring financial charges | 65 | €760 | €533 | -€227 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,463 | €7,905 | +€18,368 | |
| Income taxes | 67/77 | €378 | €2,083 | +€1,704 | +451% |
| Profit (loss) for the period | 9904 | -€10,842 | €5,822 | +€16,664 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,842 | €5,822 | +€16,664 |
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 24 October 2026 via checked.be.