NH Management: what changed
NH Management
Largest movements
- Tangible fixed assets -€6,628
down €6,628 (-12.6%), from €52,625 to €45,997
of which Other tangible fixed assets: -€10,064
- Cash -€4,713
down €4,713 (-4.4%), from €106,474 to €101,762
mainly Contributions, distributions and other (-€28,700) and Trade debts (-€25,697)
- Stocks and contracts -€4,584
down €4,584 (-6.5%), from €70,665 to €66,080
- Deferred charges and accrued income +€3,949
up €3,949 (+116%), from €3,409 to €7,357
- Other debts +€28,094
up €28,094 (+53.4%), from €52,655 to €80,749
- Trade debts -€25,697
down €25,697 (-69.1%), from €37,179 to €11,482
- Reserves -€15,600
down €15,600 (-24.7%), from €63,060 to €47,460
- Tax, wage and social debts +€11,212
up €11,212 (+189%), from €5,937 to €17,149
of which Taxes: +€5,927
- Debts after one year -€11,152
down €11,152 (-74.8%), from €14,907 to €3,755
- Gross operating margin +€43,060
up €43,060 (+229%), from €18,788 to €61,849
- Staff costs +€25,622
up €25,622 (+1,077%), from €2,379 to €28,001
- Taxes +€3,227
up €3,227 (+370%), from €873 to €4,100
- Financial charges +€2,530
up €2,530 (+180%), from €1,404 to €3,934
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,685 | €232,753 | -€12,932 | -5.3% |
| Fixed assets | 21/28 | €56,257 | €49,653 | -€6,603 | -11.7% |
| Tangible fixed assets | 22/27 | €52,625 | €45,997 | -€6,628 | -12.6% |
| Plant, machinery and equipment | 23 | €112 | €325 | +€213 | +189% |
| Furniture and vehicles | 24 | €4,274 | €7,497 | +€3,223 | +75.4% |
| Other tangible fixed assets | 26 | €48,238 | €38,174 | -€10,064 | -20.9% |
| Financial fixed assets | 28 | €3,632 | €3,657 | +€25 | +0.7% |
| Current assets | 29/58 | €189,428 | €183,100 | -€6,329 | -3.3% |
| Stocks and contracts in progress | 3 | €70,665 | €66,080 | -€4,584 | -6.5% |
| Stocks | 30/36 | €70,665 | €66,080 | -€4,584 | -6.5% |
| Amounts receivable within one year | 40/41 | €8,880 | €7,900 | -€980 | -11.0% |
| Trade receivables | 40 | €1,288 | €1,867 | +€579 | +45.0% |
| Other amounts receivable | 41 | €7,592 | €6,033 | -€1,559 | -20.5% |
| Cash at bank and in hand | 54/58 | €106,474 | €101,762 | -€4,713 | -4.4% |
| Deferred charges and accrued income | 490/1 | €3,409 | €7,357 | +€3,949 | +116% |
| Total equity and liabilities | 10/49 | €245,685 | €232,753 | -€12,932 | -5.3% |
| Equity | 10/15 | €122,498 | €106,954 | -€15,544 | -12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,060 | €47,460 | -€15,600 | -24.7% |
| Distributable reserves | 133 | €63,060 | €47,460 | -€15,600 | -24.7% |
| Profit (loss) carried forward | 14 | €40,838 | €40,894 | +€56 | +0.1% |
| Amounts payable | 17/49 | €123,186 | €125,799 | +€2,613 | +2.1% |
| Amounts payable after more than one year | 17 | €14,907 | €3,755 | -€11,152 | -74.8% |
| Financial debts | 170/4 | €14,907 | €3,755 | -€11,152 | -74.8% |
| Amounts payable within one year | 42/48 | €106,755 | €120,532 | +€13,777 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €10,984 | €11,152 | +€168 | +1.5% |
| Trade debts | 44 | €37,179 | €11,482 | -€25,697 | -69.1% |
| Suppliers | 440/4 | €37,179 | €11,482 | -€25,697 | -69.1% |
| Taxes, remuneration and social security | 45 | €5,937 | €17,149 | +€11,212 | +189% |
| Taxes | 450/3 | €4,010 | €9,936 | +€5,927 | +148% |
| Remuneration and social security | 454/9 | €1,927 | €7,212 | +€5,285 | +274% |
| Other amounts payable | 47/48 | €52,655 | €80,749 | +€28,094 | +53.4% |
| Accrued charges and deferred income | 492/3 | €1,524 | €1,512 | -€12 | -0.8% |
| Remuneration, social security and pensions | 62 | €2,379 | €28,001 | +€25,622 | +1,077% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,102 | €12,577 | -€525 | -4.0% |
| Other operating charges | 640/8 | €995 | €1,093 | +€98 | +9.8% |
| Gross operating margin | 9900 | €18,788 | €61,849 | +€43,060 | +229% |
| Operating profit (loss) | 9901 | €2,312 | €20,178 | +€17,866 | +773% |
| Financial income | 75/76B | €1,065 | €1,012 | -€53 | -5.0% |
| Recurring financial income | 75 | €1,065 | €1,012 | -€53 | -5.0% |
| Financial charges | 65/66B | €1,404 | €3,934 | +€2,530 | +180% |
| Recurring financial charges | 65 | €1,404 | €3,934 | +€2,530 | +180% |
| Profit (loss) for the period before taxes | 9903 | €1,974 | €17,256 | +€15,283 | +774% |
| Income taxes | 67/77 | €873 | €4,100 | +€3,227 | +370% |
| Profit (loss) for the period | 9904 | €1,100 | €13,156 | +€12,055 | +1,096% |
| Profit (loss) for the period to be appropriated | 9905 | €1,100 | €13,156 | +€12,055 | +1,096% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.