NBT: what changed
Two fiscal 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.
NBT
Largest movements
- Cash +€15,130
up €15,130 (+9.6%), from €157,907 to €173,037
mainly Net result for the year (+€64,568) and Depreciation (+€26,615)
- Receivables within one year +€10,313
up €10,313 (+49.5%), from €20,851 to €31,164
of which Trade receivables: +€9,725
- Deferred charges and accrued income +€5,422
up €5,422 (+691.6%), from €784 to €6,206
- Tangible fixed assets -€5,069
down €5,069 (-2.3%), from €221,200 to €216,131
of which Furniture and vehicles: -€16,823
- Reserves +€64,568
up €64,568 (+43.4%), from €148,728 to €213,296
- Debts after one year -€33,727
down €33,727 (-20.8%), from €162,265 to €128,538
- Tax, wage and social debts -€8,466
down €8,466 (-37.6%), from €22,527 to €14,061
of which Taxes: -€8,722
- Gross operating margin -€19,648
down €19,648 (-13.9%), from €141,651 to €122,003
- Taxes -€5,311
down €5,311 (-17.8%), from €29,775 to €24,464
- Depreciation +€4,531
up €4,531 (+20.5%), from €22,084 to €26,615
- Financial charges +€1,759
up €1,759 (+44.7%), from €3,936 to €5,695
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 | €400,804 | €426,615 | +€25,811 | +6.4% |
| Fixed assets | 21/28 | €221,262 | €216,208 | -€5,054 | -2.3% |
| Tangible fixed assets | 22/27 | €221,200 | €216,131 | -€5,069 | -2.3% |
| Land and buildings | 22 | €147,616 | €157,614 | +€9,998 | +6.8% |
| Plant, machinery and equipment | 23 | €637 | €2,393 | +€1,756 | +275.7% |
| Furniture and vehicles | 24 | €72,947 | €56,124 | -€16,823 | -23.1% |
| Financial fixed assets | 28 | €62 | €77 | +€15 | +24.2% |
| Current assets | 29/58 | €179,542 | €210,407 | +€30,865 | +17.2% |
| Amounts receivable within one year | 40/41 | €20,851 | €31,164 | +€10,313 | +49.5% |
| Trade receivables | 40 | €19,410 | €29,135 | +€9,725 | +50.1% |
| Other amounts receivable | 41 | €1,441 | €2,029 | +€588 | +40.8% |
| Cash at bank and in hand | 54/58 | €157,907 | €173,037 | +€15,130 | +9.6% |
| Deferred charges and accrued income | 490/1 | €784 | €6,206 | +€5,422 | +691.6% |
| Total equity and liabilities | 10/49 | €400,804 | €426,615 | +€25,811 | +6.4% |
| Equity | 10/15 | €167,328 | €231,896 | +€64,568 | +38.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,728 | €213,296 | +€64,568 | +43.4% |
| Distributable reserves | 133 | €148,728 | €213,296 | +€64,568 | +43.4% |
| Amounts payable | 17/49 | €233,476 | €194,719 | -€38,757 | -16.6% |
| Amounts payable after more than one year | 17 | €162,265 | €128,538 | -€33,727 | -20.8% |
| Financial debts | 170/4 | €162,265 | €128,538 | -€33,727 | -20.8% |
| Amounts payable within one year | 42/48 | €71,211 | €66,181 | -€5,030 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €33,039 | €33,727 | +€688 | +2.1% |
| Trade debts | 44 | €3,461 | €3,358 | -€103 | -3.0% |
| Suppliers | 440/4 | €3,461 | €3,358 | -€103 | -3.0% |
| Taxes, remuneration and social security | 45 | €22,527 | €14,061 | -€8,466 | -37.6% |
| Taxes | 450/3 | €19,442 | €10,720 | -€8,722 | -44.9% |
| Remuneration and social security | 454/9 | €3,085 | €3,341 | +€256 | +8.3% |
| Other amounts payable | 47/48 | €12,184 | €15,035 | +€2,851 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,084 | €26,615 | +€4,531 | +20.5% |
| Other operating charges | 640/8 | €1,114 | €786 | -€328 | -29.4% |
| Gross operating margin | 9900 | €141,651 | €122,003 | -€19,648 | -13.9% |
| Operating profit (loss) | 9901 | €118,453 | €94,602 | -€23,851 | -20.1% |
| Financial income | 75/76B | - | €125 | +€125 | |
| Recurring financial income | 75 | - | €125 | +€125 | |
| Financial charges | 65/66B | €3,936 | €5,695 | +€1,759 | +44.7% |
| Recurring financial charges | 65 | €3,936 | €5,695 | +€1,759 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €114,517 | €89,032 | -€25,485 | -22.3% |
| Income taxes | 67/77 | €29,775 | €24,464 | -€5,311 | -17.8% |
| Profit (loss) for the period | 9904 | €84,742 | €64,568 | -€20,174 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,742 | €64,568 | -€20,174 | -23.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.