NIEMANDSLAND: 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.
NIEMANDSLAND
Largest movements
- Tangible fixed assets +€133,771
up €133,771 (+58.0%), from €230,588 to €364,359
of which Furniture and vehicles: +€107,915
- Receivables within one year +€121,273
up €121,273 (+188%), from €64,509 to €185,782
of which Trade receivables: +€123,640
- Cash +€44,926
up €44,926 (+10.4%), from €433,396 to €478,322
mainly Net result for the year (+€339,008) and Other debts (+€70,921)
- Reserves +€200,000
up €200,000 (+46.8%), from €427,000 to €627,000
- Other debts +€70,921
up €70,921 (+138%), from €51,546 to €122,467
- Profit (loss) carried forward +€39,008
up €39,008 (+20.6%), from €188,980 to €227,988
- Financial income +€200,162
up €200,162 (+5,471%), from €3,659 to €203,821
- Gross operating margin +€75,470
up €75,470 (+42.3%), from €178,598 to €254,069
- Taxes +€33,659
up €33,659 (+70.9%), from €47,508 to €81,167
- Depreciation +€6,627
up €6,627 (+24.8%), from €26,688 to €33,315
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 | €749,769 | €1,057,883 | +€308,115 | +41.1% |
| Fixed assets | 21/28 | €250,588 | €384,359 | +€133,771 | +53.4% |
| Tangible fixed assets | 22/27 | €230,588 | €364,359 | +€133,771 | +58.0% |
| Plant, machinery and equipment | 23 | €5,076 | €3,899 | -€1,177 | -23.2% |
| Furniture and vehicles | 24 | €23,567 | €131,482 | +€107,915 | +458% |
| Other tangible fixed assets | 26 | €201,945 | €228,978 | +€27,033 | +13.4% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €499,181 | €673,524 | +€174,344 | +34.9% |
| Amounts receivable within one year | 40/41 | €64,509 | €185,782 | +€121,273 | +188% |
| Trade receivables | 40 | €53,494 | €177,133 | +€123,640 | +231% |
| Other amounts receivable | 41 | €11,015 | €8,649 | -€2,367 | -21.5% |
| Cash at bank and in hand | 54/58 | €433,396 | €478,322 | +€44,926 | +10.4% |
| Deferred charges and accrued income | 490/1 | €1,275 | €9,420 | +€8,144 | +639% |
| Total equity and liabilities | 10/49 | €749,769 | €1,057,883 | +€308,115 | +41.1% |
| Equity | 10/15 | €635,980 | €874,988 | +€239,008 | +37.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €427,000 | €627,000 | +€200,000 | +46.8% |
| Distributable reserves | 133 | €427,000 | €627,000 | +€200,000 | +46.8% |
| Profit (loss) carried forward | 14 | €188,980 | €227,988 | +€39,008 | +20.6% |
| Amounts payable | 17/49 | €113,788 | €182,895 | +€69,107 | +60.7% |
| Amounts payable within one year | 42/48 | €113,788 | €182,895 | +€69,107 | +60.7% |
| Trade debts | 44 | €1,536 | €377 | -€1,159 | -75.4% |
| Suppliers | 440/4 | €1,536 | €377 | -€1,159 | -75.4% |
| Taxes, remuneration and social security | 45 | €60,706 | €60,051 | -€655 | -1.1% |
| Taxes | 450/3 | €60,706 | €60,051 | -€655 | -1.1% |
| Other amounts payable | 47/48 | €51,546 | €122,467 | +€70,921 | +138% |
| Non-recurring operating income | 76A | - | €37,875 | +€37,875 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,688 | €33,315 | +€6,627 | +24.8% |
| Other operating charges | 640/8 | €3,102 | €3,026 | -€76 | -2.5% |
| Gross operating margin | 9900 | €178,598 | €254,069 | +€75,470 | +42.3% |
| Operating profit (loss) | 9901 | €148,808 | €217,727 | +€68,920 | +46.3% |
| Financial income | 75/76B | €3,659 | €203,821 | +€200,162 | +5,471% |
| Recurring financial income | 75 | €3,659 | €203,821 | +€200,162 | +5,471% |
| Financial charges | 65/66B | €386 | €1,373 | +€987 | +256% |
| Recurring financial charges | 65 | €386 | €1,373 | +€987 | +256% |
| Profit (loss) for the period before taxes | 9903 | €152,081 | €420,175 | +€268,095 | +176% |
| Income taxes | 67/77 | €47,508 | €81,167 | +€33,659 | +70.9% |
| Profit (loss) for the period | 9904 | €104,573 | €339,008 | +€234,435 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €104,573 | €339,008 | +€234,435 | +224% |
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 26 October 2026 via checked.be.