NIRSAL: 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.
NIRSAL
Largest movements
- Cash +€25,396
up €25,396 (+184%), from €13,777 to €39,172
mainly Trade debts (+€17,786) and Tax, wage and social debts (+€7,956)
- Receivables within one year +€7,780
up €7,780 (+18.2%), from €42,726 to €50,506
of which Trade receivables: +€10,444
- Trade debts +€17,786
up €17,786 (+170%), from €10,434 to €28,220
- Tax, wage and social debts +€7,956
up €7,956 (+427%), from €1,862 to €9,818
of which Remuneration and social security: +€7,970
- Profit (loss) carried forward +€7,575
up €7,575 (+32.0%), from €23,657 to €31,232
- Gross operating margin +€13,669
up €13,669 (+18.9%), from €72,145 to €85,814
- Staff costs +€12,454
up €12,454 (+19.8%), from €62,908 to €75,362
- Taxes +€1,549
new in 2025: €1,549
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 | €56,695 | €89,871 | +€33,176 | +58.5% |
| Fixed assets | 21/28 | €192 | €192 | = | 0.0% |
| Financial fixed assets | 28 | €192 | €192 | = | 0.0% |
| Current assets | 29/58 | €56,503 | €89,679 | +€33,176 | +58.7% |
| Amounts receivable within one year | 40/41 | €42,726 | €50,506 | +€7,780 | +18.2% |
| Trade receivables | 40 | €31,811 | €42,255 | +€10,444 | +32.8% |
| Other amounts receivable | 41 | €10,915 | €8,251 | -€2,664 | -24.4% |
| Cash at bank and in hand | 54/58 | €13,777 | €39,172 | +€25,396 | +184% |
| Total equity and liabilities | 10/49 | €56,695 | €89,871 | +€33,176 | +58.5% |
| Equity | 10/15 | €44,257 | €51,832 | +€7,575 | +17.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,657 | €31,232 | +€7,575 | +32.0% |
| Amounts payable | 17/49 | €12,438 | €38,038 | +€25,601 | +206% |
| Amounts payable within one year | 42/48 | €12,438 | €38,038 | +€25,601 | +206% |
| Trade debts | 44 | €10,434 | €28,220 | +€17,786 | +170% |
| Suppliers | 440/4 | €10,434 | €28,220 | +€17,786 | +170% |
| Taxes, remuneration and social security | 45 | €1,862 | €9,818 | +€7,956 | +427% |
| Taxes | 450/3 | €1,772 | €1,758 | -€14 | -0.8% |
| Remuneration and social security | 454/9 | €91 | €8,060 | +€7,970 | +8,806% |
| Other amounts payable | 47/48 | €142 | - | -€142 | |
| Non-recurring operating income | 76A | - | €36 | +€36 | |
| Remuneration, social security and pensions | 62 | €62,908 | €75,362 | +€12,454 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36 | - | -€36 | |
| Other operating charges | 640/8 | €1,583 | €1,132 | -€451 | -28.5% |
| Gross operating margin | 9900 | €72,145 | €85,814 | +€13,669 | +18.9% |
| Operating profit (loss) | 9901 | €7,617 | €9,320 | +€1,703 | +22.4% |
| Financial charges | 65/66B | €187 | €196 | +€9 | +4.9% |
| Recurring financial charges | 65 | €187 | €196 | +€9 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €7,431 | €9,125 | +€1,694 | +22.8% |
| Income taxes | 67/77 | - | €1,549 | +€1,549 | |
| Profit (loss) for the period | 9904 | €7,431 | €7,575 | +€144 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,431 | €7,575 | +€144 | +1.9% |
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 27 October 2026 via checked.be.