N.R.S ELECTRONICS: 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.
What changed
N.R.S ELECTRONICS
NACE 26.110, Manufacture of computer, electronic and optical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€379,915
2024 · €328,464+€51,451
Equity
€1.8m
2024 · €1.7m+€132,611
Cash
€301,052
2024 · €251,493+€49,560
Balance sheet total
€2.1m
2024 · €2.1m+€31,393
Largest movements
Assets
- Tangible fixed assets -€85,737
down €85,737 (-21.2%), from €405,051 to €319,314
- Cash +€49,560
up €49,560 (+19.7%), from €251,493 to €301,052
mainly Net result for the year (+€379,915) and Depreciation (+€94,831)
- Stocks and contracts +€37,426
up €37,426 (+2.8%), from €1.4m to €1.4m
- Receivables within one year +€27,456
up €27,456 (+36.9%), from €74,411 to €101,867
of which Trade receivables: +€29,947
Equity and liabilities
- Reserves +€132,611
up €132,611 (+7.8%), from €1.7m to €1.8m
- Debts after one year -€56,022
down €56,022 (-30.1%), from €185,947 to €129,925
- Current portion of long-term debt -€26,274
down €26,274 (-31.9%), from €82,297 to €56,022
Income statement
- Gross operating margin +€73,000
up €73,000 (+8.8%), from €825,889 to €898,888
- Taxes +€31,034
up €31,034 (+22.4%), from €138,756 to €169,790
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.
Result 2024
€328,464
Gross operating margin
+€73,000
Staff costs
+€6,350
Depreciation
+€4,271
Other operating charges
+€23
Other operating items
+€1,407
Financial income
-€1,399
Financial charges
-€1,165
Taxes
-€31,034
Result 2025
€379,915
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€404,635
Investment
-€7,510
Financing
-€347,566
Cash 2024
€251,493
From operations (derived)
+€404,635
Net result for the year
+€379,915
Depreciation
+€94,831
Stocks and contracts
-€37,426
Receivables within one year
-€27,456
Deferred charges and accrued income
-€4,274
Trade debts
+€10,873
Tax, wage and social debts
-€12,340
Smaller working-capital items
+€511
Investment (derived)
-€7,510
Investment in fixed assets (net)
-€7,510
Financing
-€347,566
Debts after one year
-€56,022
Current portion of long-term debt
-€26,274
Short-term financial debts
-€17,965
Contributions, distributions and other
-€247,304
Cash 2025
€301,052
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,087,330 | €2,118,723 | +€31,393 | +1.5% |
| Fixed assets | 21/28 | €406,943 | €319,622 | -€87,322 | -21.5% |
| Intangible fixed assets | 21 | €1,893 | €308 | -€1,585 | -83.7% |
| Tangible fixed assets | 22/27 | €405,051 | €319,314 | -€85,737 | -21.2% |
| Land and buildings | 22 | €237,319 | €195,238 | -€42,081 | -17.7% |
| Plant, machinery and equipment | 23 | €99,705 | €73,569 | -€26,136 | -26.2% |
| Furniture and vehicles | 24 | €68,027 | €50,507 | -€17,520 | -25.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €1,680,387 | €1,799,102 | +€118,715 | +7.1% |
| Stocks and contracts in progress | 3 | €1,354,483 | €1,391,909 | +€37,426 | +2.8% |
| Stocks | 30/36 | €1,354,483 | €1,391,909 | +€37,426 | +2.8% |
| Amounts receivable within one year | 40/41 | €74,411 | €101,867 | +€27,456 | +36.9% |
| Trade receivables | 40 | €56,393 | €86,340 | +€29,947 | +53.1% |
| Other amounts receivable | 41 | €18,018 | €15,527 | -€2,491 | -13.8% |
| Cash at bank and in hand | 54/58 | €251,493 | €301,052 | +€49,560 | +19.7% |
| Deferred charges and accrued income | 490/1 | €0 | €4,274 | +€4,274 | |
| Total equity and liabilities | 10/49 | €2,087,330 | €2,118,723 | +€31,393 | +1.5% |
| Equity | 10/15 | €1,709,489 | €1,842,100 | +€132,611 | +7.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,690,889 | €1,823,500 | +€132,611 | +7.8% |
| Distributable reserves | 133 | €1,690,889 | €1,823,500 | +€132,611 | +7.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €377,840 | €276,623 | -€101,218 | -26.8% |
| Amounts payable after more than one year | 17 | €185,947 | €129,925 | -€56,022 | -30.1% |
| Financial debts | 170/4 | €185,947 | €129,925 | -€56,022 | -30.1% |
| Amounts payable within one year | 42/48 | €191,855 | €146,697 | -€45,158 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €82,297 | €56,022 | -€26,274 | -31.9% |
| Financial debts | 43 | €33,520 | €15,555 | -€17,965 | -53.6% |
| Other loans | 439 | €33,520 | €15,555 | -€17,965 | -53.6% |
| Trade debts | 44 | €16,211 | €27,083 | +€10,873 | +67.1% |
| Suppliers | 440/4 | €16,211 | €27,083 | +€10,873 | +67.1% |
| Taxes, remuneration and social security | 45 | €49,137 | €36,798 | -€12,340 | -25.1% |
| Taxes | 450/3 | €22,308 | €7,243 | -€15,066 | -67.5% |
| Remuneration and social security | 454/9 | €26,829 | €29,555 | +€2,726 | +10.2% |
| Other amounts payable | 47/48 | €10,691 | €11,239 | +€548 | +5.1% |
| Accrued charges and deferred income | 492/3 | €38 | €0 | -€38 | -100% |
| Non-recurring operating income | 76A | €10,987 | €0 | -€10,987 | -100% |
| Remuneration, social security and pensions | 62 | €233,718 | €227,368 | -€6,350 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,102 | €94,831 | -€4,271 | -4.3% |
| Other operating charges | 640/8 | €8,264 | €8,241 | -€23 | -0.3% |
| Non-recurring operating charges | 66A | €1,407 | €0 | -€1,407 | -100% |
| Gross operating margin | 9900 | €825,889 | €898,888 | +€73,000 | +8.8% |
| Operating profit (loss) | 9901 | €483,398 | €568,448 | +€85,050 | +17.6% |
| Financial income | 75/76B | €6,251 | €4,851 | -€1,399 | -22.4% |
| Recurring financial income | 75 | €6,251 | €4,851 | -€1,399 | -22.4% |
| Financial charges | 65/66B | €22,429 | €23,594 | +€1,165 | +5.2% |
| Recurring financial charges | 65 | €22,429 | €23,594 | +€1,165 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €467,220 | €549,706 | +€82,485 | +17.7% |
| Income taxes | 67/77 | €138,756 | €169,790 | +€31,034 | +22.4% |
| Profit (loss) for the period | 9904 | €328,464 | €379,915 | +€51,451 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €328,464 | €379,915 | +€51,451 | +15.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.