NJ: 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.
NJ
Largest movements
- Tangible fixed assets +€108,181
up €108,181 (+349.7%), from €30,936 to €139,117
of which Land and buildings: +€99,859
- Cash +€45,353
up €45,353 (+263.1%), from €17,235 to €62,589
mainly Net result for the year (+€78,247) and Debts after one year (+€72,498)
- Receivables within one year +€23,115
up €23,115 (+519.8%), from €4,447 to €27,562
of which Trade receivables: +€17,781
- Stocks and contracts -€12,499
down €12,499 (-90.0%), from €13,881 to €1,382
- Reserves +€78,247
up €78,247 (+269.1%), from €29,076 to €107,323
of which Distributable reserves: +€78,247
- Debts after one year +€72,498
up €72,498 (+1831.7%), from €3,958 to €76,456
- Current portion of long-term debt +€5,862
up €5,862 (+88.8%), from €6,603 to €12,466
- Trade debts +€3,848
up €3,848 (+96.0%), from €4,007 to €7,856
- Gross operating margin +€130,752
up €130,752 (+804.3%), from €16,256 to €147,008
- Taxes +€34,646
up €34,646 (+1193.4%), from €2,903 to €37,549
- Other operating charges +€17,381
up €17,381 (+1323.8%), from €1,313 to €18,694
- Depreciation +€5,058
up €5,058 (+113.5%), from €4,456 to €9,513
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 | €69,050 | €230,650 | +€161,599 | +234.0% |
| Fixed assets | 21/28 | €33,186 | €139,117 | +€105,931 | +319.2% |
| Tangible fixed assets | 22/27 | €30,936 | €139,117 | +€108,181 | +349.7% |
| Land and buildings | 22 | €1,604 | €101,463 | +€99,859 | +6227.5% |
| Plant, machinery and equipment | 23 | €1,374 | €7,977 | +€6,603 | +480.5% |
| Furniture and vehicles | 24 | €20,170 | €22,241 | +€2,071 | +10.3% |
| Other tangible fixed assets | 26 | €7,788 | €7,436 | -€352 | -4.5% |
| Financial fixed assets | 28 | €2,250 | - | -€2,250 | |
| Current assets | 29/58 | €35,864 | €91,533 | +€55,669 | +155.2% |
| Stocks and contracts in progress | 3 | €13,881 | €1,382 | -€12,499 | -90.0% |
| Stocks | 30/36 | €13,881 | €1,382 | -€12,499 | -90.0% |
| Amounts receivable within one year | 40/41 | €4,447 | €27,562 | +€23,115 | +519.8% |
| Trade receivables | 40 | €3,490 | €21,271 | +€17,781 | +509.4% |
| Other amounts receivable | 41 | €957 | €6,291 | +€5,335 | +557.6% |
| Cash at bank and in hand | 54/58 | €17,235 | €62,589 | +€45,353 | +263.1% |
| Deferred charges and accrued income | 490/1 | €301 | - | -€301 | |
| Total equity and liabilities | 10/49 | €69,050 | €230,650 | +€161,599 | +234.0% |
| Equity | 10/15 | €48,076 | €126,323 | +€78,247 | +162.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €29,076 | €107,323 | +€78,247 | +269.1% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €27,176 | €105,423 | +€78,247 | +287.9% |
| Amounts payable | 17/49 | €20,974 | €104,326 | +€83,352 | +397.4% |
| Amounts payable after more than one year | 17 | €3,958 | €76,456 | +€72,498 | +1831.7% |
| Financial debts | 170/4 | €3,958 | €76,456 | +€72,498 | +1831.7% |
| Amounts payable within one year | 42/48 | €17,016 | €27,871 | +€10,855 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | €6,603 | €12,466 | +€5,862 | +88.8% |
| Trade debts | 44 | €4,007 | €7,856 | +€3,848 | +96.0% |
| Suppliers | 440/4 | €4,007 | €7,856 | +€3,848 | +96.0% |
| Taxes, remuneration and social security | 45 | €5,965 | €7,549 | +€1,584 | +26.5% |
| Taxes | 450/3 | €5,965 | €7,549 | +€1,584 | +26.5% |
| Other amounts payable | 47/48 | €440 | - | -€440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,456 | €9,513 | +€5,058 | +113.5% |
| Other operating charges | 640/8 | €1,313 | €18,694 | +€17,381 | +1323.8% |
| Gross operating margin | 9900 | €16,256 | €147,008 | +€130,752 | +804.3% |
| Operating profit (loss) | 9901 | €10,487 | €118,801 | +€108,313 | +1032.8% |
| Financial income | 75/76B | €2 | €82 | +€80 | +3394.5% |
| Recurring financial income | 75 | €2 | €82 | +€80 | +3394.5% |
| Financial charges | 65/66B | €2,321 | €3,087 | +€766 | +33.0% |
| Recurring financial charges | 65 | €2,321 | €3,087 | +€766 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €8,169 | €115,796 | +€107,628 | +1317.6% |
| Income taxes | 67/77 | €2,903 | €37,549 | +€34,646 | +1193.4% |
| Profit (loss) for the period | 9904 | €5,266 | €78,247 | +€72,982 | +1386.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,266 | €78,247 | +€72,982 | +1386.0% |
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 6 October 2026 via checked.be.