N3 GROUP: 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.
N3 GROUP
Largest movements
- Intangible fixed assets -€100,000
down €100,000 (-14.8%), from €675,956 to €575,956
- Cash -€28,392
down €28,392 (-53.2%), from €53,356 to €24,964
mainly Debts after one year (-€187,291) and Receivables within one year (-€21,391)
- Receivables within one year +€21,391
up €21,391 (+14.1%), from €151,435 to €172,826
of which Trade receivables: +€32,029
- Tangible fixed assets -€18,021
down €18,021 (-5.7%), from €318,310 to €300,289
of which Land and buildings: -€16,143
- Debts after one year -€187,291
down €187,291 (-31.3%), from €598,095 to €410,804
of which Other amounts payable: -€264,000
- Reserves +€29,149
up €29,149 (+50.9%), from €57,217 to €86,366
of which Distributable reserves: +€27,341
- Current portion of long-term debt +€18,526
up €18,526 (+24.8%), from €74,766 to €93,291
- Short-term financial debts +€17,625
up €17,625 (+136%), from €13,000 to €30,625
- Gross operating margin +€22,763
up €22,763 (+6.3%), from €361,675 to €384,439
- Staff costs +€7,336
up €7,336 (+3.9%), from €188,948 to €196,284
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 | €1,202,037 | €1,077,318 | -€124,719 | -10.4% |
| Fixed assets | 21/28 | €994,267 | €876,245 | -€118,021 | -11.9% |
| Intangible fixed assets | 21 | €675,956 | €575,956 | -€100,000 | -14.8% |
| Tangible fixed assets | 22/27 | €318,310 | €300,289 | -€18,021 | -5.7% |
| Land and buildings | 22 | €310,489 | €294,346 | -€16,143 | -5.2% |
| Furniture and vehicles | 24 | €7,821 | €5,944 | -€1,878 | -24.0% |
| Current assets | 29/58 | €207,770 | €201,073 | -€6,697 | -3.2% |
| Amounts receivable within one year | 40/41 | €151,435 | €172,826 | +€21,391 | +14.1% |
| Trade receivables | 40 | €127,047 | €159,076 | +€32,029 | +25.2% |
| Other amounts receivable | 41 | €24,388 | €13,750 | -€10,638 | -43.6% |
| Cash at bank and in hand | 54/58 | €53,356 | €24,964 | -€28,392 | -53.2% |
| Deferred charges and accrued income | 490/1 | €2,979 | €3,282 | +€303 | +10.2% |
| Total equity and liabilities | 10/49 | €1,202,037 | €1,077,318 | -€124,719 | -10.4% |
| Equity | 10/15 | €457,217 | €486,366 | +€29,149 | +6.4% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €57,217 | €86,366 | +€29,149 | +50.9% |
| Non-distributable reserves | 130/1 | €20,161 | €21,968 | +€1,807 | +9.0% |
| Legal reserve | 130 | €20,161 | €21,968 | +€1,807 | +9.0% |
| Distributable reserves | 133 | €37,056 | €64,397 | +€27,341 | +73.8% |
| Amounts payable | 17/49 | €744,820 | €590,953 | -€153,867 | -20.7% |
| Amounts payable after more than one year | 17 | €598,095 | €410,804 | -€187,291 | -31.3% |
| Financial debts | 170/4 | €334,095 | €410,804 | +€76,709 | +23.0% |
| Other amounts payable | 178/9 | €264,000 | - | -€264,000 | |
| Amounts payable within one year | 42/48 | €146,725 | €180,149 | +€33,424 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €74,766 | €93,291 | +€18,526 | +24.8% |
| Financial debts | 43 | €13,000 | €30,625 | +€17,625 | +136% |
| Credit institutions | 430/8 | €13,000 | €30,625 | +€17,625 | +136% |
| Trade debts | 44 | €28,228 | €23,744 | -€4,483 | -15.9% |
| Suppliers | 440/4 | €28,228 | €23,744 | -€4,483 | -15.9% |
| Taxes, remuneration and social security | 45 | €23,732 | €25,488 | +€1,757 | +7.4% |
| Taxes | 450/3 | - | €1,929 | +€1,929 | |
| Remuneration and social security | 454/9 | €23,732 | €23,560 | -€172 | -0.7% |
| Other amounts payable | 47/48 | €7,000 | €7,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €188,948 | €196,284 | +€7,336 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,682 | €120,272 | +€590 | +0.5% |
| Other operating charges | 640/8 | €8,889 | €9,143 | +€254 | +2.9% |
| Gross operating margin | 9900 | €361,675 | €384,439 | +€22,763 | +6.3% |
| Operating profit (loss) | 9901 | €44,157 | €58,740 | +€14,583 | +33.0% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €9,146 | €11,192 | +€2,046 | +22.4% |
| Recurring financial charges | 65 | €9,146 | €11,192 | +€2,046 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €35,011 | €47,558 | +€12,547 | +35.8% |
| Income taxes | 67/77 | €8,836 | €11,409 | +€2,573 | +29.1% |
| Profit (loss) for the period | 9904 | €26,175 | €36,149 | +€9,974 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,175 | €36,149 | +€9,974 | +38.1% |
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 26 October 2026 via checked.be.