NHA: what changed
NHA
Largest movements
- Cash -€4,942
down €4,942 (-73.7%), from €6,709 to €1,768
mainly Investment in fixed assets (net) (-€30,210) and Net result for the year (-€4,712)
- Tangible fixed assets +€4,366
up €4,366 (+7.1%), from €61,541 to €65,907
of which Leasing and similar rights: +€23,670
- Receivables within one year +€952
up €952 (+8.9%), from €10,702 to €11,654
of which Trade receivables: +€2,407
- Profit (loss) carried forward -€4,712
down €4,712 (-51.1%), from -€9,226 to -€13,938
- Debts after one year +€2,916
up €2,916 (+10.2%), from €28,499 to €31,415
- Current portion of long-term debt +€1,762
up €1,762 (+11.5%), from €15,286 to €17,048
- Other debts +€1,492
up €1,492 (+48.1%), from €3,105 to €4,597
- Trade debts -€1,434
down €1,434 (-54.2%), from €2,644 to €1,210
- Gross operating margin +€11,648
up €11,648 (+93.5%), from €12,461 to €24,109
- Depreciation +€6,261
up €6,261 (+32.0%), from €19,583 to €25,844
- Financial charges +€961
up €961 (+76.0%), from €1,264 to €2,225
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 | €81,586 | €81,791 | +€204 | +0.3% |
| Fixed assets | 21/28 | €61,941 | €66,307 | +€4,366 | +7.0% |
| Tangible fixed assets | 22/27 | €61,541 | €65,907 | +€4,366 | +7.1% |
| Land and buildings | 22 | €3,719 | €3,184 | -€535 | -14.4% |
| Plant, machinery and equipment | 23 | €6,986 | €6,006 | -€980 | -14.0% |
| Furniture and vehicles | 24 | €50,837 | €33,048 | -€17,789 | -35.0% |
| Leasing and similar rights | 25 | - | €23,670 | +€23,670 | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €19,645 | €15,483 | -€4,162 | -21.2% |
| Stocks and contracts in progress | 3 | €535 | €94 | -€441 | -82.4% |
| Stocks | 30/36 | €535 | €94 | -€441 | -82.4% |
| Amounts receivable within one year | 40/41 | €10,702 | €11,654 | +€952 | +8.9% |
| Trade receivables | 40 | €5,587 | €7,993 | +€2,407 | +43.1% |
| Other amounts receivable | 41 | €5,116 | €3,661 | -€1,455 | -28.4% |
| Cash at bank and in hand | 54/58 | €6,709 | €1,768 | -€4,942 | -73.7% |
| Deferred charges and accrued income | 490/1 | €1,698 | €1,968 | +€269 | +15.9% |
| Total equity and liabilities | 10/49 | €81,586 | €81,791 | +€204 | +0.3% |
| Equity | 10/15 | €32,052 | €27,340 | -€4,712 | -14.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,278 | €36,278 | = | 0.0% |
| Distributable reserves | 133 | €36,278 | €36,278 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,226 | -€13,938 | -€4,712 | -51.1% |
| Amounts payable | 17/49 | €49,534 | €54,451 | +€4,916 | +9.9% |
| Amounts payable after more than one year | 17 | €28,499 | €31,415 | +€2,916 | +10.2% |
| Financial debts | 170/4 | €28,499 | €31,415 | +€2,916 | +10.2% |
| Amounts payable within one year | 42/48 | €21,035 | €23,035 | +€2,001 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €15,286 | €17,048 | +€1,762 | +11.5% |
| Trade debts | 44 | €2,644 | €1,210 | -€1,434 | -54.2% |
| Suppliers | 440/4 | €2,644 | €1,210 | -€1,434 | -54.2% |
| Taxes, remuneration and social security | 45 | €0 | €181 | +€181 | |
| Taxes | 450/3 | €0 | €181 | +€181 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,105 | €4,597 | +€1,492 | +48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,583 | €25,844 | +€6,261 | +32.0% |
| Other operating charges | 640/8 | €682 | €703 | +€21 | +3.1% |
| Gross operating margin | 9900 | €12,461 | €24,109 | +€11,648 | +93.5% |
| Operating profit (loss) | 9901 | -€7,804 | -€2,438 | +€5,366 | +68.8% |
| Financial income | 75/76B | €23 | €132 | +€109 | +480% |
| Recurring financial income | 75 | €23 | €132 | +€109 | +480% |
| Financial charges | 65/66B | €1,264 | €2,225 | +€961 | +76.0% |
| Recurring financial charges | 65 | €1,264 | €2,225 | +€961 | +76.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,045 | -€4,531 | +€4,514 | +49.9% |
| Income taxes | 67/77 | €181 | €181 | +€0 | +0.1% |
| Profit (loss) for the period | 9904 | -€9,226 | -€4,712 | +€4,514 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,226 | -€4,712 | +€4,514 | +48.9% |
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 3 November 2026 via checked.be.