NBX: 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.
NBX
Largest movements
- Current investments -€928,461
down €928,461 (-13.6%), from €6.8m to €5.9m
- Profit (loss) carried forward -€888,245
down €888,245 (-14.3%), from -€6.2m to -€7.1m
- Gross operating margin +€692,649
up €692,649 (+41.4%), from -€1.7m to -€978,812
- Financial income -€110,126
down €110,126 (-42.5%), from €258,929 to €148,803
of which Financial income: -€73,466
- Financial charges -€82,179
down €82,179 (-75.0%), from €109,512 to €27,333
of which Non-recurring financial charges: -€97,852
- Staff costs -€46,618
down €46,618 (-62.5%), from €74,529 to €27,911
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,420,875 | €6,482,253 | -€938,622 | -12.6% |
| Fixed assets | 21/28 | €111,009 | €98,301 | -€12,708 | -11.4% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €118 | €3,404 | +€3,286 | +2,788% |
| Plant, machinery and equipment | 23 | €118 | €3,404 | +€3,286 | +2,788% |
| Financial fixed assets | 28 | €110,891 | €94,897 | -€15,994 | -14.4% |
| Current assets | 29/58 | €7,309,866 | €6,383,951 | -€925,914 | -12.7% |
| Amounts receivable within one year | 40/41 | €143,666 | €79,520 | -€64,146 | -44.6% |
| Trade receivables | 40 | €1,009 | €5,317 | +€4,308 | +427% |
| Other amounts receivable | 41 | €142,657 | €74,204 | -€68,454 | -48.0% |
| Current investments | 50/53 | €6,829,737 | €5,901,276 | -€928,461 | -13.6% |
| Cash at bank and in hand | 54/58 | €241,541 | €312,332 | +€70,791 | +29.3% |
| Deferred charges and accrued income | 490/1 | €94,921 | €90,823 | -€4,098 | -4.3% |
| Total equity and liabilities | 10/49 | €7,420,875 | €6,482,253 | -€938,622 | -12.6% |
| Equity | 10/15 | €7,335,711 | €6,447,466 | -€888,245 | -12.1% |
| Contributions | 10/11 | €13,550,000 | €13,550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,214,289 | -€7,102,534 | -€888,245 | -14.3% |
| Amounts payable | 17/49 | €85,164 | €34,787 | -€50,377 | -59.2% |
| Amounts payable within one year | 42/48 | €57,664 | €34,787 | -€22,877 | -39.7% |
| Trade debts | 44 | €49,113 | €34,787 | -€14,326 | -29.2% |
| Suppliers | 440/4 | €49,113 | €34,787 | -€14,326 | -29.2% |
| Taxes, remuneration and social security | 45 | €8,551 | - | -€8,551 | |
| Remuneration and social security | 454/9 | €8,551 | - | -€8,551 | |
| Accrued charges and deferred income | 492/3 | €27,500 | - | -€27,500 | |
| Remuneration, social security and pensions | 62 | €74,529 | €27,911 | -€46,618 | -62.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €431 | €1,059 | +€628 | +146% |
| Other operating charges | 640/8 | €4,676 | €1,933 | -€2,743 | -58.7% |
| Non-recurring operating charges | 66A | €12,500 | - | -€12,500 | |
| Gross operating margin | 9900 | -€1,671,462 | -€978,812 | +€692,649 | +41.4% |
| Operating profit (loss) | 9901 | -€1,763,598 | -€1,009,716 | +€753,882 | +42.7% |
| Financial income | 75/76B | €258,929 | €148,803 | -€110,126 | -42.5% |
| Recurring financial income | 75 | €222,269 | €148,803 | -€73,466 | -33.1% |
| Non-recurring financial income | 76B | €36,659 | - | -€36,659 | |
| Financial charges | 65/66B | €109,512 | €27,333 | -€82,179 | -75.0% |
| Recurring financial charges | 65 | €9,512 | €25,185 | +€15,672 | +165% |
| Non-recurring financial charges | 66B | €100,000 | €2,148 | -€97,852 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,614,181 | -€888,245 | +€725,936 | +45.0% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€1,614,181 | -€888,245 | +€725,936 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,614,181 | -€888,245 | +€725,936 | +45.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.