NBO Management: 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 Management
Largest movements
- Cash +€72,138
up €72,138 (+442%), from €16,313 to €88,450
mainly Net result for the year (+€99,580) and Current investments (+€52,007)
- Current investments -€52,007
down €52,007 (-10.5%), from €493,653 to €441,646
- Tangible fixed assets +€9,870
up €9,870 (+119%), from €8,304 to €18,174
of which Land and buildings: +€5,669
- Reserves +€30,671
up €30,671 (+5.6%), from €543,908 to €574,580
- Tax, wage and social debts +€7,430
up €7,430 (+25.6%), from €28,969 to €36,399
of which Taxes: +€7,389
- Gross operating margin -€25,008
down €25,008 (-15.5%), from €160,830 to €135,822
- Taxes -€7,967
down €7,967 (-16.1%), from €49,388 to €41,422
- Financial income -€7,633
down €7,633 (-43.8%), from €17,441 to €9,809
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 | €587,847 | €622,002 | +€34,155 | +5.8% |
| Fixed assets | 21/28 | €8,689 | €18,559 | +€9,870 | +114% |
| Tangible fixed assets | 22/27 | €8,304 | €18,174 | +€9,870 | +119% |
| Land and buildings | 22 | €8,039 | €13,708 | +€5,669 | +70.5% |
| Furniture and vehicles | 24 | €265 | €4,466 | +€4,201 | +1,586% |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €579,158 | €603,443 | +€24,285 | +4.2% |
| Amounts receivable within one year | 40/41 | €65,499 | €70,074 | +€4,574 | +7.0% |
| Trade receivables | 40 | €24,463 | €20,163 | -€4,300 | -17.6% |
| Other amounts receivable | 41 | €41,037 | €49,910 | +€8,874 | +21.6% |
| Current investments | 50/53 | €493,653 | €441,646 | -€52,007 | -10.5% |
| Cash at bank and in hand | 54/58 | €16,313 | €88,450 | +€72,138 | +442% |
| Deferred charges and accrued income | 490/1 | €3,693 | €3,273 | -€420 | -11.4% |
| Total equity and liabilities | 10/49 | €587,847 | €622,002 | +€34,155 | +5.8% |
| Equity | 10/15 | €550,108 | €580,780 | +€30,671 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €543,908 | €574,580 | +€30,671 | +5.6% |
| Distributable reserves | 133 | €543,908 | €574,580 | +€30,671 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,739 | €41,223 | +€3,484 | +9.2% |
| Amounts payable within one year | 42/48 | €36,718 | €40,800 | +€4,082 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €3,953 | €0 | -€3,953 | -100% |
| Trade debts | 44 | €3,796 | €4,401 | +€605 | +15.9% |
| Suppliers | 440/4 | €3,796 | €4,401 | +€605 | +15.9% |
| Taxes, remuneration and social security | 45 | €28,969 | €36,399 | +€7,430 | +25.6% |
| Taxes | 450/3 | €25,933 | €33,323 | +€7,389 | +28.5% |
| Remuneration and social security | 454/9 | €3,036 | €3,076 | +€41 | +1.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,021 | €423 | -€598 | -58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,287 | €3,307 | +€1,020 | +44.6% |
| Other operating charges | 640/8 | €654 | €589 | -€65 | -10.0% |
| Gross operating margin | 9900 | €160,830 | €135,822 | -€25,008 | -15.5% |
| Operating profit (loss) | 9901 | €157,889 | €131,926 | -€25,963 | -16.4% |
| Financial income | 75/76B | €17,441 | €9,809 | -€7,633 | -43.8% |
| Recurring financial income | 75 | €17,441 | €9,809 | -€7,633 | -43.8% |
| Financial charges | 65/66B | €1,191 | €732 | -€459 | -38.5% |
| Recurring financial charges | 65 | €1,191 | €732 | -€459 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €174,139 | €141,002 | -€33,137 | -19.0% |
| Income taxes | 67/77 | €49,388 | €41,422 | -€7,967 | -16.1% |
| Profit (loss) for the period | 9904 | €124,750 | €99,580 | -€25,171 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €124,750 | €99,580 | -€25,171 | -20.2% |
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 17 October 2026 via checked.be.