NBO BEHEER: 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 BEHEER
Largest movements
- Tangible fixed assets -€105,944
down €105,944 (-19.7%), from €536,721 to €430,776
of which Land and buildings: -€101,455
- Receivables within one year +€54,479
up €54,479 (+842%), from €6,471 to €60,950
of which Other amounts receivable: +€42,762
- Cash +€23,622
up €23,622 (+248%), from €9,532 to €33,154
mainly Net result for the year (+€139,881) and Investment in fixed assets (net) (+€84,759)
- Debts after one year -€168,524
down €168,524 (-31.1%), from €542,100 to €373,576
of which Other amounts payable: -€150,000
- Profit (loss) carried forward +€139,881
up €139,881, from -€73,724 to €66,156
- Other debts +€14,637
up €14,637 (+1,054%), from €1,389 to €16,027
- Current portion of long-term debt -€8,551
down €8,551 (-31.6%), from €27,075 to €18,524
- Trade debts -€6,513
down €6,513 (-85.8%), from €7,590 to €1,077
- Other operating charges -€68,434
down €68,434 (-97.4%), from €70,239 to €1,805
- Gross operating margin +€31,541
up €31,541 (+21.3%), from €148,017 to €179,558
- Depreciation -€13,164
down €13,164 (-38.3%), from €34,350 to €21,186
- Staff costs -€9,304
down €9,304 (-60.6%), from €15,357 to €6,053
- Taxes +€3,717
new in 2025: €3,717
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 | €552,757 | €524,879 | -€27,878 | -5.0% |
| Fixed assets | 21/28 | €536,721 | €430,776 | -€105,944 | -19.7% |
| Tangible fixed assets | 22/27 | €536,721 | €430,776 | -€105,944 | -19.7% |
| Land and buildings | 22 | €512,985 | €411,530 | -€101,455 | -19.8% |
| Plant, machinery and equipment | 23 | €2,886 | €1,557 | -€1,329 | -46.1% |
| Furniture and vehicles | 24 | €20,849 | €17,689 | -€3,160 | -15.2% |
| Current assets | 29/58 | €16,037 | €94,103 | +€78,067 | +487% |
| Amounts receivable within one year | 40/41 | €6,471 | €60,950 | +€54,479 | +842% |
| Trade receivables | 40 | €2,290 | €14,007 | +€11,717 | +512% |
| Other amounts receivable | 41 | €4,180 | €46,942 | +€42,762 | +1,023% |
| Cash at bank and in hand | 54/58 | €9,532 | €33,154 | +€23,622 | +248% |
| Deferred charges and accrued income | 490/1 | €34 | - | -€34 | |
| Total equity and liabilities | 10/49 | €552,757 | €524,879 | -€27,878 | -5.0% |
| Equity | 10/15 | -€28,169 | €111,712 | +€139,881 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €25,096 | €25,096 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,724 | €66,156 | +€139,881 | |
| Amounts payable | 17/49 | €580,926 | €413,167 | -€167,758 | -28.9% |
| Amounts payable after more than one year | 17 | €542,100 | €373,576 | -€168,524 | -31.1% |
| Financial debts | 170/4 | €317,100 | €298,576 | -€18,524 | -5.8% |
| Other amounts payable | 178/9 | €225,000 | €75,000 | -€150,000 | -66.7% |
| Amounts payable within one year | 42/48 | €38,826 | €39,591 | +€766 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €27,075 | €18,524 | -€8,551 | -31.6% |
| Trade debts | 44 | €7,590 | €1,077 | -€6,513 | -85.8% |
| Suppliers | 440/4 | €7,590 | €1,077 | -€6,513 | -85.8% |
| Advances received on contracts in progress | 46 | €2,771 | - | -€2,771 | |
| Taxes, remuneration and social security | 45 | - | €3,964 | +€3,964 | |
| Taxes | 450/3 | - | €3,964 | +€3,964 | |
| Other amounts payable | 47/48 | €1,389 | €16,027 | +€14,637 | +1,054% |
| Non-recurring operating income | 76A | €6,469 | €178,861 | +€172,392 | +2,665% |
| Remuneration, social security and pensions | 62 | €15,357 | €6,053 | -€9,304 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,350 | €21,186 | -€13,164 | -38.3% |
| Other operating charges | 640/8 | €70,239 | €1,805 | -€68,434 | -97.4% |
| Non-recurring operating charges | 66A | €35,657 | - | -€35,657 | |
| Gross operating margin | 9900 | €148,017 | €179,558 | +€31,541 | +21.3% |
| Operating profit (loss) | 9901 | -€7,586 | €150,514 | +€158,100 | |
| Financial income | 75/76B | €286 | €305 | +€19 | +6.6% |
| Recurring financial income | 75 | €286 | €305 | +€19 | +6.6% |
| Financial charges | 65/66B | €4,321 | €7,222 | +€2,900 | +67.1% |
| Recurring financial charges | 65 | €4,321 | €7,222 | +€2,900 | +67.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,621 | €143,598 | +€155,219 | |
| Income taxes | 67/77 | - | €3,717 | +€3,717 | |
| Profit (loss) for the period | 9904 | -€11,621 | €139,881 | +€151,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,621 | €139,881 | +€151,501 |
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 30 October 2026 via checked.be.