NINE MANAGEMENT: what changed
Two fiscal 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.
NINE MANAGEMENT
Largest movements
- Cash +€44,225
up €44,225 (+528.4%), from €8,369 to €52,594
mainly Net result for the year (+€36,049) and Tax, wage and social debts (+€8,099)
- Deferred charges and accrued income -€3,588
down €3,588 (-46.6%), from €7,693 to €4,105
- Receivables within one year +€1,813
up €1,813 (+9.9%), from €18,400 to €20,213
of which Trade receivables: +€1,813
- Profit (loss) carried forward +€36,049
up €36,049 (+166.2%), from €21,689 to €57,738
- Tax, wage and social debts +€8,099
up €8,099 (+119.9%), from €6,755 to €14,854
of which Taxes: +€11,253
- Other debts -€1,823
down €1,823 (-82.8%), from €2,203 to €379
- Gross operating margin +€24,630
up €24,630 (+93.2%), from €26,429 to €51,058
- Taxes +€7,594
up €7,594 (+144.0%), from €5,275 to €12,869
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.
Cash bridge derived
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 | €35,990 | €78,333 | +€42,343 | +117.7% |
| Fixed assets | 21/28 | €1,528 | €1,420 | -€108 | -7.1% |
| Tangible fixed assets | 22/27 | €1,528 | €1,420 | -€108 | -7.1% |
| Furniture and vehicles | 24 | €1,528 | €1,420 | -€108 | -7.1% |
| Current assets | 29/58 | €34,462 | €76,913 | +€42,451 | +123.2% |
| Amounts receivable within one year | 40/41 | €18,400 | €20,213 | +€1,813 | +9.9% |
| Trade receivables | 40 | €16,480 | €18,293 | +€1,813 | +11.0% |
| Other amounts receivable | 41 | €1,920 | €1,920 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,369 | €52,594 | +€44,225 | +528.4% |
| Deferred charges and accrued income | 490/1 | €7,693 | €4,105 | -€3,588 | -46.6% |
| Total equity and liabilities | 10/49 | €35,990 | €78,333 | +€42,343 | +117.7% |
| Equity | 10/15 | €25,689 | €61,738 | +€36,049 | +140.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,689 | €57,738 | +€36,049 | +166.2% |
| Amounts payable | 17/49 | €10,301 | €16,594 | +€6,294 | +61.1% |
| Amounts payable within one year | 42/48 | €10,301 | €16,594 | +€6,294 | +61.1% |
| Trade debts | 44 | €1,343 | €1,361 | +€18 | +1.4% |
| Suppliers | 440/4 | €1,343 | €1,361 | +€18 | +1.4% |
| Taxes, remuneration and social security | 45 | €6,755 | €14,854 | +€8,099 | +119.9% |
| Taxes | 450/3 | €3,601 | €14,854 | +€11,253 | +312.5% |
| Remuneration and social security | 454/9 | €3,154 | - | -€3,154 | |
| Other amounts payable | 47/48 | €2,203 | €379 | -€1,823 | -82.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €750 | +€447 | +147.3% |
| Other operating charges | 640/8 | - | €313 | +€313 | |
| Gross operating margin | 9900 | €26,429 | €51,058 | +€24,630 | +93.2% |
| Operating profit (loss) | 9901 | €26,125 | €49,995 | +€23,870 | +91.4% |
| Financial charges | 65/66B | €1,412 | €1,077 | -€335 | -23.7% |
| Recurring financial charges | 65 | €1,412 | €1,077 | -€335 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €24,713 | €48,918 | +€24,205 | +97.9% |
| Income taxes | 67/77 | €5,275 | €12,869 | +€7,594 | +144.0% |
| Profit (loss) for the period | 9904 | €19,438 | €36,049 | +€16,611 | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,438 | €36,049 | +€16,611 | +85.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.