NBO: 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.
NBO
Largest movements
- Cash +€15,727
up €15,727 (+19.1%), from €82,133 to €97,861
mainly Net result for the year (+€12,790) and Depreciation (+€6,106)
- Tangible fixed assets -€6,106
down €6,106 (-8.6%), from €71,027 to €64,921
- Profit (loss) carried forward +€12,790
up €12,790 (+9.2%), from €138,522 to €151,312
- Gross operating margin -€27,316
down €27,316 (-52.2%), from €52,306 to €24,990
- Taxes -€7,762
down €7,762 (-64.5%), from €12,025 to €4,263
- Financial income -€4,004
down €4,004 (-88.2%), from €4,541 to €537
of which Non-recurring financial income: -€2,988
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,673 | €224,031 | +€10,358 | +4.8% |
| Fixed assets | 21/28 | €71,027 | €64,921 | -€6,106 | -8.6% |
| Tangible fixed assets | 22/27 | €71,027 | €64,921 | -€6,106 | -8.6% |
| Land and buildings | 22 | €71,027 | €64,921 | -€6,106 | -8.6% |
| Current assets | 29/58 | €142,646 | €159,110 | +€16,464 | +11.5% |
| Amounts receivable within one year | 40/41 | - | €737 | +€737 | |
| Other amounts receivable | 41 | - | €737 | +€737 | |
| Current investments | 50/53 | €60,512 | €60,512 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,133 | €97,861 | +€15,727 | +19.1% |
| Total equity and liabilities | 10/49 | €213,673 | €224,031 | +€10,358 | +4.8% |
| Equity | 10/15 | €208,241 | €220,514 | +€12,272 | +5.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,522 | €151,312 | +€12,790 | +9.2% |
| Investment grants | 15 | €2,069 | €1,552 | -€517 | -25.0% |
| Provisions and deferred taxes | 16 | €690 | €517 | -€172 | -25.0% |
| Deferred taxes | 168 | €690 | €517 | -€172 | -25.0% |
| Amounts payable | 17/49 | €4,742 | €3,000 | -€1,742 | -36.7% |
| Amounts payable within one year | 42/48 | €1,742 | - | -€1,742 | |
| Taxes, remuneration and social security | 45 | €1,742 | - | -€1,742 | |
| Taxes | 450/3 | €1,742 | - | -€1,742 | |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,106 | €6,106 | = | 0.0% |
| Other operating charges | 640/8 | €2,328 | €2,400 | +€71 | +3.1% |
| Gross operating margin | 9900 | €52,306 | €24,990 | -€27,316 | -52.2% |
| Operating profit (loss) | 9901 | €43,872 | €16,484 | -€27,388 | -62.4% |
| Financial income | 75/76B | €4,541 | €537 | -€4,004 | -88.2% |
| Recurring financial income | 75 | €1,553 | €537 | -€1,015 | -65.4% |
| Non-recurring financial income | 76B | €2,988 | - | -€2,988 | |
| Financial charges | 65/66B | €484 | €141 | -€343 | -70.9% |
| Recurring financial charges | 65 | €484 | €141 | -€343 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | €47,929 | €16,881 | -€31,048 | -64.8% |
| Transfer from deferred taxes | 780 | €172 | €172 | = | 0.0% |
| Income taxes | 67/77 | €12,025 | €4,263 | -€7,762 | -64.5% |
| Profit (loss) for the period | 9904 | €36,076 | €12,790 | -€23,286 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,076 | €12,790 | -€23,286 | -64.5% |
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 9 October 2026 via checked.be.