N9NE: 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.
N9NE
Largest movements
- Stocks and contracts +€12,332
new in 2025: €12,332
- Receivables within one year +€6,250
up €6,250 (+45.6%), from €13,691 to €19,941
of which Other amounts receivable: +€8,340
- Cash +€2,708
up €2,708 (+359%), from €753 to €3,461
mainly Trade debts (+€17,286) and Short-term financial debts (+€5,873)
- Tangible fixed assets +€1,244
up €1,244 (+5.0%), from €24,971 to €26,216
of which Plant, machinery and equipment: +€4,012
- Deferred charges and accrued income +€1,082
up €1,082 (+451%), from €240 to €1,322
- Trade debts +€17,286
up €17,286 (+153%), from €11,299 to €28,586
- Short-term financial debts +€5,873
new in 2025: €5,873
- Other debts -€1,547
down €1,547 (-29.7%), from €5,203 to €3,656
- Accrued charges and deferred income +€928
new in 2025: €928
- Tax, wage and social debts +€742
up €742 (+48.8%), from €1,520 to €2,262
- Gross operating margin -€22,344
down €22,344 (-72.8%), from €30,682 to €8,338
- Taxes -€4,700
down €4,700 (-85.1%), from €5,521 to €821
- Financial charges +€2,661
up €2,661 (+484%), from €550 to €3,211
- Depreciation +€521
up €521 (+19.3%), from €2,709 to €3,230
- Other operating charges -€479
down €479 (-35.3%), from €1,356 to €877
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 | €39,656 | €63,272 | +€23,616 | +59.6% |
| Fixed assets | 21/28 | €24,971 | €26,216 | +€1,244 | +5.0% |
| Tangible fixed assets | 22/27 | €24,971 | €26,216 | +€1,244 | +5.0% |
| Plant, machinery and equipment | 23 | - | €4,012 | +€4,012 | |
| Furniture and vehicles | 24 | €24,971 | €22,203 | -€2,768 | -11.1% |
| Current assets | 29/58 | €14,685 | €37,057 | +€22,372 | +152% |
| Stocks and contracts in progress | 3 | - | €12,332 | +€12,332 | |
| Stocks | 30/36 | - | €12,332 | +€12,332 | |
| Amounts receivable within one year | 40/41 | €13,691 | €19,941 | +€6,250 | +45.6% |
| Trade receivables | 40 | €11,204 | €9,114 | -€2,090 | -18.7% |
| Other amounts receivable | 41 | €2,487 | €10,827 | +€8,340 | +335% |
| Cash at bank and in hand | 54/58 | €753 | €3,461 | +€2,708 | +359% |
| Deferred charges and accrued income | 490/1 | €240 | €1,322 | +€1,082 | +451% |
| Total equity and liabilities | 10/49 | €39,656 | €63,272 | +€23,616 | +59.6% |
| Equity | 10/15 | €21,634 | €21,969 | +€335 | +1.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €20,634 | €20,969 | +€335 | +1.6% |
| Distributable reserves | 133 | €20,634 | €20,969 | +€335 | +1.6% |
| Amounts payable | 17/49 | €18,022 | €41,304 | +€23,281 | +129% |
| Amounts payable within one year | 42/48 | €18,022 | €40,376 | +€22,354 | +124% |
| Financial debts | 43 | - | €5,873 | +€5,873 | |
| Credit institutions | 430/8 | - | €5,873 | +€5,873 | |
| Trade debts | 44 | €11,299 | €28,586 | +€17,286 | +153% |
| Suppliers | 440/4 | €11,299 | €28,586 | +€17,286 | +153% |
| Taxes, remuneration and social security | 45 | €1,520 | €2,262 | +€742 | +48.8% |
| Taxes | 450/3 | €1,520 | €2,262 | +€742 | +48.8% |
| Other amounts payable | 47/48 | €5,203 | €3,656 | -€1,547 | -29.7% |
| Accrued charges and deferred income | 492/3 | - | €928 | +€928 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,709 | €3,230 | +€521 | +19.3% |
| Other operating charges | 640/8 | €1,356 | €877 | -€479 | -35.3% |
| Gross operating margin | 9900 | €30,682 | €8,338 | -€22,344 | -72.8% |
| Operating profit (loss) | 9901 | €26,617 | €4,230 | -€22,386 | -84.1% |
| Financial income | 75/76B | €88 | €136 | +€48 | +55.2% |
| Recurring financial income | 75 | €88 | €136 | +€48 | +55.2% |
| Financial charges | 65/66B | €550 | €3,211 | +€2,661 | +484% |
| Recurring financial charges | 65 | €550 | €3,211 | +€2,661 | +484% |
| Profit (loss) for the period before taxes | 9903 | €26,154 | €1,156 | -€24,999 | -95.6% |
| Income taxes | 67/77 | €5,521 | €821 | -€4,700 | -85.1% |
| Profit (loss) for the period | 9904 | €20,634 | €335 | -€20,299 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,634 | €335 | -€20,299 | -98.4% |
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 15 October 2026 via checked.be.