Njamm: 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.
Njamm
Largest movements
- Tangible fixed assets +€28,048
up €28,048 (+60.3%), from €46,541 to €74,589
of which Other tangible fixed assets: +€38,216
- Cash +€4,108
up €4,108 (+104%), from €3,961 to €8,069
mainly Trade debts (+€21,487) and Depreciation (+€17,788)
- Stocks and contracts +€3,879
up €3,879 (+19.5%), from €19,931 to €23,810
- Deferred charges and accrued income +€3,488
up €3,488 (+86.5%), from €4,032 to €7,520
- Trade debts +€21,487
up €21,487 (+72.4%), from €29,687 to €51,174
- Reserves +€11,868
up €11,868 (+10.9%), from €109,346 to €121,213
- Other debts +€8,657
new in 2025: €8,657
- Tax, wage and social debts -€2,496
down €2,496 (-12.9%), from €19,285 to €16,789
of which Taxes: -€5,712
- Staff costs +€26,137
up €26,137 (+15.0%), from €174,571 to €200,708
- Other operating charges -€8,975
down €8,975 (-65.7%), from €13,652 to €4,677
- Gross operating margin +€8,491
up €8,491 (+3.6%), from €235,230 to €243,721
- Taxes -€4,364
down €4,364 (-55.8%), from €7,817 to €3,454
- Financial charges +€2,631
up €2,631 (+64.7%), from €4,069 to €6,699
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 | €164,518 | €204,134 | +€39,616 | +24.1% |
| Fixed assets | 21/28 | €47,731 | €75,779 | +€28,048 | +58.8% |
| Tangible fixed assets | 22/27 | €46,541 | €74,589 | +€28,048 | +60.3% |
| Plant, machinery and equipment | 23 | €32,074 | €23,255 | -€8,819 | -27.5% |
| Furniture and vehicles | 24 | €5,670 | €4,321 | -€1,349 | -23.8% |
| Other tangible fixed assets | 26 | €8,797 | €47,012 | +€38,216 | +434% |
| Financial fixed assets | 28 | €1,190 | €1,190 | = | 0.0% |
| Current assets | 29/58 | €116,787 | €128,355 | +€11,568 | +9.9% |
| Stocks and contracts in progress | 3 | €19,931 | €23,810 | +€3,879 | +19.5% |
| Stocks | 30/36 | €19,931 | €23,810 | +€3,879 | +19.5% |
| Amounts receivable within one year | 40/41 | €88,864 | €88,956 | +€91 | +0.1% |
| Trade receivables | 40 | €1,697 | €639 | -€1,058 | -62.4% |
| Other amounts receivable | 41 | €87,167 | €88,317 | +€1,150 | +1.3% |
| Cash at bank and in hand | 54/58 | €3,961 | €8,069 | +€4,108 | +104% |
| Deferred charges and accrued income | 490/1 | €4,032 | €7,520 | +€3,488 | +86.5% |
| Total equity and liabilities | 10/49 | €164,518 | €204,134 | +€39,616 | +24.1% |
| Equity | 10/15 | €115,546 | €127,413 | +€11,868 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,346 | €121,213 | +€11,868 | +10.9% |
| Distributable reserves | 133 | €109,346 | €121,213 | +€11,868 | +10.9% |
| Amounts payable | 17/49 | €48,973 | €76,721 | +€27,748 | +56.7% |
| Amounts payable within one year | 42/48 | €48,973 | €76,621 | +€27,648 | +56.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €29,687 | €51,174 | +€21,487 | +72.4% |
| Suppliers | 440/4 | €29,687 | €51,174 | +€21,487 | +72.4% |
| Taxes, remuneration and social security | 45 | €19,285 | €16,789 | -€2,496 | -12.9% |
| Taxes | 450/3 | €6,742 | €1,030 | -€5,712 | -84.7% |
| Remuneration and social security | 454/9 | €12,543 | €15,760 | +€3,216 | +25.6% |
| Other amounts payable | 47/48 | - | €8,657 | +€8,657 | |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Remuneration, social security and pensions | 62 | €174,571 | €200,708 | +€26,137 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,245 | €17,788 | +€1,544 | +9.5% |
| Other operating charges | 640/8 | €13,652 | €4,677 | -€8,975 | -65.7% |
| Gross operating margin | 9900 | €235,230 | €243,721 | +€8,491 | +3.6% |
| Operating profit (loss) | 9901 | €30,762 | €20,548 | -€10,215 | -33.2% |
| Financial income | 75/76B | €786 | €1,473 | +€687 | +87.4% |
| Recurring financial income | 75 | €786 | €1,473 | +€687 | +87.4% |
| Financial charges | 65/66B | €4,069 | €6,699 | +€2,631 | +64.7% |
| Recurring financial charges | 65 | €4,069 | €6,699 | +€2,631 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €27,480 | €15,322 | -€12,158 | -44.2% |
| Income taxes | 67/77 | €7,817 | €3,454 | -€4,364 | -55.8% |
| Profit (loss) for the period | 9904 | €19,663 | €11,868 | -€7,795 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,663 | €11,868 | -€7,795 | -39.6% |
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 24 October 2026 via checked.be.