n-Side: 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.
What changed
n-Side
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.6m
2024 · -€2.1m+€544,428
Equity
€7.3m
2024 · €8.8m-€1.6m
Cash
€1.4m
2024 · €4.9m-€3.5m
Balance sheet total
€24.3m
2024 · €28.3m-€4.1m
Largest movements
Assets
- Current investments +€4.4m
up €4.4m (+913.2%), from €478,843 to €4.9m
of which Other investments: +€4.4m
- Cash -€3.5m
down €3.5m (-71.2%), from €4.9m to €1.4m
mainly Current investments (-€4.4m) and Investment in fixed assets (net) (-€3.6m)
- Intangible fixed assets -€3.1m
down €3.1m (-28.3%), from €11.1m to €7.9m
- Receivables within one year -€1.7m
down €1.7m (-24.0%), from €7.1m to €5.4m
of which Trade receivables: -€1.9m
- Tangible fixed assets -€283,511
down €283,511 (-14.3%), from €2.0m to €1.7m
of which Furniture and vehicles: -€158,526
Equity and liabilities
- Debts after one year -€3.2m
down €3.2m (-42.4%), from €7.6m to €4.4m
of which Financial debts: -€3.2m
- Profit (loss) carried forward -€1.6m
down €1.6m (-216.3%), from -€717,175 to -€2.3m
- Accrued charges and deferred income +€1.0m
up €1.0m (+39.4%), from €2.6m to €3.6m
Income statement
- Turnover +€3.6m
up €3.6m (+13.9%), from €26.1m to €29.7m
- Services and other goods -€818,360
down €818,360 (-7.4%), from €11.1m to €10.3m
- Other operating income -€570,586
down €570,586 (-14.6%), from €3.9m to €3.3m
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
-€2.1m
Turnover
+€3.6m
Other operating income
-€570,586
Services and other goods
+€818,360
Staff costs
+€294,447
Depreciation
-€84,565
Other operating charges
-€5,436
Other operating items
-€3.6m
Financial income
+€39,499
Financial charges
+€71,254
Taxes
-€8,548
Result 2025
-€1.6m
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.
From operations
+€7.8m
Investment
-€8.0m
Financing
-€3.4m
Cash 2024
€4.9m
From operations (derived)
+€7.8m
Net result for the year
-€1.6m
Depreciation
+€7.0m
Receivables within one year
+€1.7m
Deferred charges and accrued income
-€176,469
Trade debts
-€121,324
Tax, wage and social debts
+€29,791
Other debts
-€59,734
Accrued charges and deferred income
+€1.0m
Investment (derived)
-€8.0m
Investment in fixed assets (net)
-€3.6m
Current investments
-€4.4m
Financing
-€3.4m
Debts after one year
-€3.2m
Current portion of long-term debt
-€142,844
Short-term financial debts
-€6,102
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,326,558 | €24,267,924 | -€4.1m | -14.3% |
| Fixed assets | 21/28 | €13,221,687 | €9,825,644 | -€3.4m | -25.7% |
| Intangible fixed assets | 21 | €11,077,991 | €7,940,955 | -€3.1m | -28.3% |
| Tangible fixed assets | 22/27 | €1,987,425 | €1,703,914 | -€283,511 | -14.3% |
| Furniture and vehicles | 24 | €942,364 | €783,838 | -€158,526 | -16.8% |
| Other tangible fixed assets | 26 | €1,045,061 | €920,076 | -€124,985 | -12.0% |
| Financial fixed assets | 28 | €156,272 | €180,775 | +€24,503 | +15.7% |
| Affiliated companies | 280/1 | €97,525 | €97,525 | = | 0.0% |
| Participating interests | 280 | €97,525 | €97,525 | = | 0.0% |
| Other financial fixed assets | 284/8 | €58,747 | €83,250 | +€24,503 | +41.7% |
| Shares | 284 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €48,747 | €73,250 | +€24,503 | +50.3% |
| Current assets | 29/58 | €15,104,871 | €14,442,280 | -€662,591 | -4.4% |
| Amounts receivable within one year | 40/41 | €7,140,551 | €5,427,513 | -€1.7m | -24.0% |
| Trade receivables | 40 | €6,846,768 | €4,996,224 | -€1.9m | -27.0% |
| Other amounts receivable | 41 | €293,783 | €431,289 | +€137,506 | +46.8% |
| Current investments | 50/53 | €478,843 | €4,851,786 | +€4.4m | +913.2% |
| Own shares | 50 | €478,843 | €481,424 | +€2,581 | +0.5% |
| Other investments | 51/53 | - | €4,370,362 | +€4.4m | |
| Cash at bank and in hand | 54/58 | €4,914,371 | €1,415,406 | -€3.5m | -71.2% |
| Deferred charges and accrued income | 490/1 | €2,571,107 | €2,747,575 | +€176,469 | +6.9% |
| Total equity and liabilities | 10/49 | €28,326,558 | €24,267,924 | -€4.1m | -14.3% |
| Equity | 10/15 | €8,813,879 | €7,262,820 | -€1.6m | -17.6% |
| Contributions | 10/11 | €7,798,643 | €7,798,643 | = | 0.0% |
| Capital | 10 | €7,789,543 | €7,789,543 | = | 0.0% |
| Issued capital | 100 | €7,789,543 | €7,789,543 | = | 0.0% |
| Outside capital | 11 | €9,100 | €9,100 | = | 0.0% |
| Share premium | 1100/10 | €9,100 | €9,100 | = | 0.0% |
| Reserves | 13 | €1,732,411 | €1,732,411 | = | 0.0% |
| Non-distributable reserves | 130/1 | €639,580 | €642,161 | +€2,581 | +0.4% |
| Legal reserve | 130 | €160,737 | €160,737 | = | 0.0% |
| Own shares acquired | 1312 | €478,843 | €481,424 | +€2,581 | +0.5% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,074,081 | €1,071,500 | -€2,581 | -0.2% |
| Profit (loss) carried forward | 14 | -€717,175 | -€2,268,234 | -€1.6m | -216.3% |
| Amounts payable | 17/49 | €19,512,679 | €17,005,105 | -€2.5m | -12.9% |
| Amounts payable after more than one year | 17 | €7,570,788 | €4,357,338 | -€3.2m | -42.4% |
| Financial debts | 170/4 | €7,570,788 | €4,357,338 | -€3.2m | -42.4% |
| Credit institutions | 173 | €7,570,788 | €4,357,338 | -€3.2m | -42.4% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,389,256 | €9,089,042 | -€300,213 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €2,902,128 | €2,759,284 | -€142,844 | -4.9% |
| Financial debts | 43 | €711,235 | €705,133 | -€6,102 | -0.9% |
| Credit institutions | 430/8 | €711,235 | €705,133 | -€6,102 | -0.9% |
| Trade debts | 44 | €1,481,541 | €1,360,218 | -€121,324 | -8.2% |
| Suppliers | 440/4 | €1,481,541 | €1,360,218 | -€121,324 | -8.2% |
| Taxes, remuneration and social security | 45 | €4,218,153 | €4,247,945 | +€29,791 | +0.7% |
| Taxes | 450/3 | €166,735 | €127,640 | -€39,095 | -23.4% |
| Remuneration and social security | 454/9 | €4,051,418 | €4,120,304 | +€68,886 | +1.7% |
| Other amounts payable | 47/48 | €76,197 | €16,463 | -€59,734 | -78.4% |
| Accrued charges and deferred income | 492/3 | €2,552,635 | €3,558,724 | +€1.0m | +39.4% |
| Operating income | 70/76A | €37,087,902 | €36,533,860 | -€554,041 | -1.5% |
| Turnover | 70 | €26,099,946 | €29,734,940 | +€3.6m | +13.9% |
| Own construction capitalised | 72 | €7,068,886 | €3,450,437 | -€3.6m | -51.2% |
| Other operating income | 74 | €3,919,070 | €3,348,483 | -€570,586 | -14.6% |
| Operating charges | 60/66A | €38,593,621 | €37,597,356 | -€996,265 | -2.6% |
| Services and other goods | 61 | €11,110,891 | €10,292,531 | -€818,360 | -7.4% |
| Remuneration, social security and pensions | 62 | €20,450,017 | €20,155,571 | -€294,447 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,892,364 | €6,976,928 | +€84,565 | +1.2% |
| Other operating charges | 640/8 | €96,436 | €101,872 | +€5,436 | +5.6% |
| Non-recurring operating charges | 66A | €43,913 | €70,454 | +€26,541 | +60.4% |
| Operating profit (loss) | 9901 | -€1,505,719 | -€1,063,495 | +€442,224 | +29.4% |
| Financial income | 75/76B | €177,505 | €217,004 | +€39,499 | +22.3% |
| Recurring financial income | 75 | €177,505 | €217,004 | +€39,499 | +22.3% |
| Income from current assets | 751 | - | €56,589 | +€56,589 | |
| Other financial income | 752/9 | €177,505 | €160,415 | -€17,090 | -9.6% |
| Financial charges | 65/66B | €758,681 | €687,427 | -€71,254 | -9.4% |
| Recurring financial charges | 65 | €758,681 | €687,427 | -€71,254 | -9.4% |
| Debt charges | 650 | €712,247 | €659,426 | -€52,821 | -7.4% |
| Other financial charges | 652/9 | €46,434 | €28,001 | -€18,433 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,086,895 | -€1,533,918 | +€552,977 | +26.5% |
| Income taxes | 67/77 | €8,593 | €17,141 | +€8,548 | +99.5% |
| Taxes | 670/3 | €8,593 | €17,141 | +€8,548 | +99.5% |
| Profit (loss) for the period | 9904 | -€2,095,488 | -€1,551,059 | +€544,428 | +26.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,095,488 | -€1,551,059 | +€544,428 | +26.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.