N.R.T. MANAGEMENT: what changed
N.R.T. MANAGEMENT
Largest movements
- Receivables after one year -€35,000
down €35,000 (-100%), from €35,000 to €0
- Cash +€26,181
up €26,181 (+83.6%), from €31,313 to €57,493
mainly Net result for the year (+€79,717) and Other debts (+€53,963)
- Receivables within one year +€18,090
up €18,090 (+46.0%), from €39,344 to €57,434
of which Other amounts receivable: +€16,029
- Tangible fixed assets -€10,391
down €10,391 (-24.2%), from €42,953 to €32,562
of which Leasing and similar rights: -€10,251
- Deferred charges and accrued income -€7,825
down €7,825 (-77.3%), from €10,127 to €2,302
- Other debts +€53,963
up €53,963 (+131%), from €41,037 to €95,000
- Short-term financial debts -€30,000
down €30,000 (-50.0%), from €60,000 to €30,000
- Reserves -€15,283
down €15,283 (-94.2%), from €16,218 to €935
- Current portion of long-term debt -€12,034
down €12,034 (-70.8%), from €16,987 to €4,953
- Debts after one year -€4,953
down €4,953 (-100%), from €4,953 to €0
- Gross operating margin -€80,803
down €80,803 (-40.2%), from €200,898 to €120,095
- Taxes -€20,806
down €20,806 (-47.7%), from €43,649 to €22,843
- Financial income -€9,273
down €9,273 (-91.6%), from €10,127 to €854
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,737 | €149,792 | -€8,945 | -5.6% |
| Fixed assets | 21/28 | €42,953 | €32,562 | -€10,391 | -24.2% |
| Tangible fixed assets | 22/27 | €42,953 | €32,562 | -€10,391 | -24.2% |
| Plant, machinery and equipment | 23 | €6,443 | €5,720 | -€722 | -11.2% |
| Furniture and vehicles | 24 | €3,735 | €4,317 | +€582 | +15.6% |
| Leasing and similar rights | 25 | €32,776 | €22,525 | -€10,251 | -31.3% |
| Current assets | 29/58 | €115,784 | €117,230 | +€1,446 | +1.2% |
| Amounts receivable after more than one year | 29 | €35,000 | €0 | -€35,000 | -100% |
| Other amounts receivable | 291 | €35,000 | €0 | -€35,000 | -100% |
| Amounts receivable within one year | 40/41 | €39,344 | €57,434 | +€18,090 | +46.0% |
| Trade receivables | 40 | €38,993 | €41,055 | +€2,061 | +5.3% |
| Other amounts receivable | 41 | €351 | €16,380 | +€16,029 | +4,570% |
| Cash at bank and in hand | 54/58 | €31,313 | €57,493 | +€26,181 | +83.6% |
| Deferred charges and accrued income | 490/1 | €10,127 | €2,302 | -€7,825 | -77.3% |
| Total equity and liabilities | 10/49 | €158,737 | €149,792 | -€8,945 | -5.6% |
| Equity | 10/15 | €17,218 | €1,935 | -€15,283 | -88.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €16,218 | €935 | -€15,283 | -94.2% |
| Distributable reserves | 133 | €16,218 | €935 | -€15,283 | -94.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €141,519 | €147,857 | +€6,338 | +4.5% |
| Amounts payable after more than one year | 17 | €4,953 | €0 | -€4,953 | -100% |
| Financial debts | 170/4 | €4,953 | €0 | -€4,953 | -100% |
| Amounts payable within one year | 42/48 | €135,520 | €147,229 | +€11,709 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €16,987 | €4,953 | -€12,034 | -70.8% |
| Financial debts | 43 | €60,000 | €30,000 | -€30,000 | -50.0% |
| Credit institutions | 430/8 | €60,000 | €30,000 | -€30,000 | -50.0% |
| Trade debts | 44 | €1,276 | €2,399 | +€1,122 | +87.9% |
| Suppliers | 440/4 | €1,276 | €2,399 | +€1,122 | +87.9% |
| Taxes, remuneration and social security | 45 | €16,220 | €14,878 | -€1,342 | -8.3% |
| Taxes | 450/3 | €13,897 | €12,558 | -€1,339 | -9.6% |
| Remuneration and social security | 454/9 | €2,323 | €2,320 | -€3 | -0.1% |
| Other amounts payable | 47/48 | €41,037 | €95,000 | +€53,963 | +131% |
| Accrued charges and deferred income | 492/3 | €1,046 | €628 | -€418 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,480 | €12,566 | +€86 | +0.7% |
| Other operating charges | 640/8 | €3,233 | €2,440 | -€793 | -24.5% |
| Gross operating margin | 9900 | €200,898 | €120,095 | -€80,803 | -40.2% |
| Operating profit (loss) | 9901 | €185,186 | €105,089 | -€80,097 | -43.3% |
| Financial income | 75/76B | €10,127 | €854 | -€9,273 | -91.6% |
| Recurring financial income | 75 | €10,127 | €854 | -€9,273 | -91.6% |
| Financial charges | 65/66B | €4,612 | €3,383 | -€1,229 | -26.6% |
| Recurring financial charges | 65 | €4,612 | €3,383 | -€1,229 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €190,701 | €102,560 | -€88,141 | -46.2% |
| Income taxes | 67/77 | €43,649 | €22,843 | -€20,806 | -47.7% |
| Profit (loss) for the period | 9904 | €147,051 | €79,717 | -€67,335 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €147,051 | €79,717 | -€67,335 | -45.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.