NFO: 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.
NFO
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€10,706
down €10,706 (-18.4%), from €58,188 to €47,482
mainly Current investments (-€50,000) and Trade debts (-€10,686)
- Receivables within one year +€8,963
up €8,963 (+41.6%), from €21,543 to €30,506
of which Other amounts receivable: +€4,684
- Profit (loss) carried forward +€43,290
up €43,290 (+99.3%), from €43,588 to €86,878
- Tax, wage and social debts +€14,861
up €14,861 (+79.2%), from €18,764 to €33,625
of which Taxes: +€14,861
- Trade debts -€10,686
down €10,686 (-63.0%), from €16,953 to €6,266
- Gross operating margin +€4,432
up €4,432 (+7.9%), from €55,764 to €60,196
- Taxes +€2,148
up €2,148 (+19.4%), from €11,096 to €13,244
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 | €80,565 | €127,988 | +€47,423 | +58.9% |
| Current assets | 29/58 | €80,565 | €127,988 | +€47,423 | +58.9% |
| Amounts receivable within one year | 40/41 | €21,543 | €30,506 | +€8,963 | +41.6% |
| Trade receivables | 40 | €11,009 | €15,288 | +€4,279 | +38.9% |
| Other amounts receivable | 41 | €10,534 | €15,218 | +€4,684 | +44.5% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €58,188 | €47,482 | -€10,706 | -18.4% |
| Deferred charges and accrued income | 490/1 | €834 | €0 | -€834 | -100% |
| Total equity and liabilities | 10/49 | €80,565 | €127,988 | +€47,423 | +58.9% |
| Equity | 10/15 | €44,588 | €87,878 | +€43,290 | +97.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,588 | €86,878 | +€43,290 | +99.3% |
| Amounts payable | 17/49 | €35,977 | €40,110 | +€4,132 | +11.5% |
| Amounts payable within one year | 42/48 | €35,977 | €40,110 | +€4,132 | +11.5% |
| Financial debts | 43 | €261 | €219 | -€42 | -16.2% |
| Credit institutions | 430/8 | €261 | €219 | -€42 | -16.2% |
| Trade debts | 44 | €16,953 | €6,266 | -€10,686 | -63.0% |
| Suppliers | 440/4 | €16,953 | €6,266 | -€10,686 | -63.0% |
| Taxes, remuneration and social security | 45 | €18,764 | €33,625 | +€14,861 | +79.2% |
| Taxes | 450/3 | €18,745 | €33,606 | +€14,861 | +79.3% |
| Remuneration and social security | 454/9 | €18 | €18 | = | 0.0% |
| Other operating charges | 640/8 | €623 | €638 | +€15 | +2.4% |
| Non-recurring operating charges | 66A | - | €61 | +€61 | |
| Gross operating margin | 9900 | €55,764 | €60,196 | +€4,432 | +7.9% |
| Operating profit (loss) | 9901 | €55,141 | €59,497 | +€4,356 | +7.9% |
| Financial income | 75/76B | €247 | €688 | +€441 | +179% |
| Recurring financial income | 75 | €247 | €688 | +€441 | +179% |
| Financial charges | 65/66B | €4,018 | €3,650 | -€368 | -9.1% |
| Recurring financial charges | 65 | €4,018 | €3,650 | -€368 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €51,370 | €56,534 | +€5,165 | +10.1% |
| Income taxes | 67/77 | €11,096 | €13,244 | +€2,148 | +19.4% |
| Profit (loss) for the period | 9904 | €40,274 | €43,290 | +€3,016 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,274 | €43,290 | +€3,016 | +7.5% |
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 15 October 2026 via checked.be.