NFJ: 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.
NFJ
Largest movements
- Receivables within one year -€34,381
down €34,381 (-56.9%), from €60,407 to €26,026
of which Trade receivables: -€27,713
- Cash +€26,664
up €26,664 (+504%), from €5,290 to €31,954
mainly Receivables within one year (+€34,381) and Depreciation (+€4,708)
- Tangible fixed assets -€3,797
down €3,797 (-29.1%), from €13,053 to €9,256
of which Furniture and vehicles: -€3,874
- Tax, wage and social debts -€5,192
down €5,192 (-46.3%), from €11,214 to €6,022
- Other debts -€4,000
no longer reported in 2025 (was €4,000)
- Trade debts -€3,477
down €3,477 (-30.4%), from €11,420 to €7,943
- Gross operating margin -€28,011
down €28,011 (-72.2%), from €38,773 to €10,763
- Taxes -€5,773
down €5,773 (-74.7%), from €7,729 to €1,956
- Financial charges +€2,110
up €2,110 (+476%), from €444 to €2,554
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 | €84,807 | €72,489 | -€12,318 | -14.5% |
| Fixed assets | 21/28 | €13,053 | €9,256 | -€3,797 | -29.1% |
| Tangible fixed assets | 22/27 | €13,053 | €9,256 | -€3,797 | -29.1% |
| Plant, machinery and equipment | 23 | €5,362 | €3,380 | -€1,982 | -37.0% |
| Furniture and vehicles | 24 | €7,691 | €3,817 | -€3,874 | -50.4% |
| Other tangible fixed assets | 26 | - | €2,059 | +€2,059 | |
| Current assets | 29/58 | €71,754 | €63,233 | -€8,521 | -11.9% |
| Amounts receivable within one year | 40/41 | €60,407 | €26,026 | -€34,381 | -56.9% |
| Trade receivables | 40 | €45,720 | €18,007 | -€27,713 | -60.6% |
| Other amounts receivable | 41 | €14,687 | €8,019 | -€6,668 | -45.4% |
| Cash at bank and in hand | 54/58 | €5,290 | €31,954 | +€26,664 | +504% |
| Deferred charges and accrued income | 490/1 | €6,057 | €5,253 | -€803 | -13.3% |
| Total equity and liabilities | 10/49 | €84,807 | €72,489 | -€12,318 | -14.5% |
| Equity | 10/15 | €58,173 | €58,523 | +€350 | +0.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €53,173 | €53,523 | +€350 | +0.7% |
| Distributable reserves | 133 | €53,173 | €53,523 | +€350 | +0.7% |
| Amounts payable | 17/49 | €26,634 | €13,966 | -€12,668 | -47.6% |
| Amounts payable within one year | 42/48 | €26,634 | €13,966 | -€12,668 | -47.6% |
| Trade debts | 44 | €11,420 | €7,943 | -€3,477 | -30.4% |
| Suppliers | 440/4 | €11,420 | €7,943 | -€3,477 | -30.4% |
| Taxes, remuneration and social security | 45 | €11,214 | €6,022 | -€5,192 | -46.3% |
| Taxes | 450/3 | €11,214 | €6,022 | -€5,192 | -46.3% |
| Other amounts payable | 47/48 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,860 | €4,708 | -€152 | -3.1% |
| Other operating charges | 640/8 | €1,540 | €1,423 | -€117 | -7.6% |
| Gross operating margin | 9900 | €38,773 | €10,763 | -€28,011 | -72.2% |
| Operating profit (loss) | 9901 | €32,374 | €4,632 | -€27,742 | -85.7% |
| Financial income | 75/76B | €365 | €229 | -€137 | -37.4% |
| Recurring financial income | 75 | €365 | €229 | -€137 | -37.4% |
| Financial charges | 65/66B | €444 | €2,554 | +€2,110 | +476% |
| Recurring financial charges | 65 | €444 | €2,554 | +€2,110 | +476% |
| Profit (loss) for the period before taxes | 9903 | €32,295 | €2,306 | -€29,989 | -92.9% |
| Income taxes | 67/77 | €7,729 | €1,956 | -€5,773 | -74.7% |
| Profit (loss) for the period | 9904 | €24,567 | €350 | -€24,216 | -98.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,567 | €350 | -€24,216 | -98.6% |
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 13 October 2026 via checked.be.