NHL Construct: what changed
NHL Construct
Largest movements
- Tangible fixed assets -€2,333
no longer reported in 2025 (was €2,333)
- Deferred charges and accrued income +€1,272
new in 2025: €1,272
- Cash +€917
up €917 (+493%), from €186 to €1,103
mainly Net result for the year (+€4,225) and Trade debts (+€3,774)
- Receivables within one year +€845
up €845 (+11.0%), from €7,653 to €8,498
of which Trade receivables: +€8,498
- Profit (loss) carried forward +€4,225
up €4,225, from -€4,148 to €78
- Trade debts +€3,774
up €3,774 (+373%), from €1,012 to €4,785
- Other debts -€3,416
down €3,416 (-52.8%), from €6,470 to €3,054
- Current portion of long-term debt -€1,958
no longer reported in 2025 (was €1,958)
- Accrued charges and deferred income -€1,924
no longer reported in 2025 (was €1,924)
- Gross operating margin +€9,864
up €9,864, from -€1,880 to €7,984
- Depreciation -€3,267
down €3,267 (-58.3%), from €5,600 to €2,333
- Other operating charges +€639
new in 2025: €639
- Financial charges +€527
up €527 (+484%), from €109 to €636
- Staff costs +€203
new in 2025: €203
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 | €10,320 | €11,021 | +€701 | +6.8% |
| Fixed assets | 21/28 | €2,481 | €148 | -€2,333 | -94.0% |
| Tangible fixed assets | 22/27 | €2,333 | - | -€2,333 | |
| Furniture and vehicles | 24 | €2,333 | - | -€2,333 | |
| Financial fixed assets | 28 | €148 | €148 | = | 0.0% |
| Current assets | 29/58 | €7,839 | €10,873 | +€3,034 | +38.7% |
| Amounts receivable within one year | 40/41 | €7,653 | €8,498 | +€845 | +11.0% |
| Trade receivables | 40 | - | €8,498 | +€8,498 | |
| Other amounts receivable | 41 | €7,653 | - | -€7,653 | |
| Cash at bank and in hand | 54/58 | €186 | €1,103 | +€917 | +493% |
| Deferred charges and accrued income | 490/1 | - | €1,272 | +€1,272 | |
| Total equity and liabilities | 10/49 | €10,320 | €11,021 | +€701 | +6.8% |
| Equity | 10/15 | -€1,148 | €3,078 | +€4,225 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,148 | €78 | +€4,225 | |
| Amounts payable | 17/49 | €11,468 | €7,943 | -€3,525 | -30.7% |
| Amounts payable within one year | 42/48 | €9,544 | €7,943 | -€1,601 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €1,958 | - | -€1,958 | |
| Trade debts | 44 | €1,012 | €4,785 | +€3,774 | +373% |
| Suppliers | 440/4 | €1,012 | €4,785 | +€3,774 | +373% |
| Taxes, remuneration and social security | 45 | €104 | €104 | = | 0.0% |
| Taxes | 450/3 | €104 | €104 | = | 0.0% |
| Other amounts payable | 47/48 | €6,470 | €3,054 | -€3,416 | -52.8% |
| Accrued charges and deferred income | 492/3 | €1,924 | - | -€1,924 | |
| Remuneration, social security and pensions | 62 | - | €203 | +€203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,600 | €2,333 | -€3,267 | -58.3% |
| Other operating charges | 640/8 | - | €639 | +€639 | |
| Gross operating margin | 9900 | -€1,880 | €7,984 | +€9,864 | |
| Operating profit (loss) | 9901 | -€7,480 | €4,808 | +€12,289 | |
| Financial income | 75/76B | - | €53 | +€53 | |
| Recurring financial income | 75 | - | €53 | +€53 | |
| Financial charges | 65/66B | €109 | €636 | +€527 | +484% |
| Recurring financial charges | 65 | €109 | €636 | +€527 | +484% |
| Profit (loss) for the period before taxes | 9903 | -€7,589 | €4,225 | +€11,815 | |
| Profit (loss) for the period | 9904 | -€7,589 | €4,225 | +€11,815 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,589 | €4,225 | +€11,815 |
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.