NK EXPERTISE: 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.
NK EXPERTISE
Largest movements
- Financial fixed assets +€204,301
new in 2025: €204,301
- Cash -€32,240
down €32,240 (-38.9%), from €82,925 to €50,685
mainly Investment in fixed assets (net) (-€238,903) and Contributions, distributions and other (-€82,959)
- Tangible fixed assets +€24,703
up €24,703 (+1,893%), from €1,305 to €26,008
- Receivables within one year -€19,234
down €19,234 (-48.0%), from €40,043 to €20,809
of which Other amounts receivable: -€21,987
- Debts after one year +€133,970
up €133,970 (+1,338%), from €10,015 to €143,985
- Other debts +€51,718
new in 2025: €51,718
- Profit (loss) carried forward -€31,241
no longer reported in 2025 (was €31,241)
- Current portion of long-term debt +€23,610
up €23,610 (+259%), from €9,113 to €32,722
- Financial income +€19,810
up €19,810 (+1,570%), from €1,262 to €21,072
- Financial charges +€4,080
up €4,080 (+1,221%), from €334 to €4,414
- Depreciation -€4,065
down €4,065 (-29.1%), from €13,965 to €9,899
- Gross operating margin +€1,000
up €1,000 (+1.9%), from €52,808 to €53,808
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 | €124,921 | €302,530 | +€177,609 | +142% |
| Fixed assets | 21/28 | €1,305 | €230,309 | +€229,004 | +17,548% |
| Tangible fixed assets | 22/27 | €1,305 | €26,008 | +€24,703 | +1,893% |
| Furniture and vehicles | 24 | €1,305 | €26,008 | +€24,703 | +1,893% |
| Financial fixed assets | 28 | - | €204,301 | +€204,301 | |
| Current assets | 29/58 | €123,616 | €72,221 | -€51,395 | -41.6% |
| Amounts receivable within one year | 40/41 | €40,043 | €20,809 | -€19,234 | -48.0% |
| Trade receivables | 40 | €8,182 | €10,934 | +€2,752 | +33.6% |
| Other amounts receivable | 41 | €31,861 | €9,875 | -€21,987 | -69.0% |
| Cash at bank and in hand | 54/58 | €82,925 | €50,685 | -€32,240 | -38.9% |
| Deferred charges and accrued income | 490/1 | €648 | €727 | +€79 | +12.2% |
| Total equity and liabilities | 10/49 | €124,921 | €302,530 | +€177,609 | +142% |
| Equity | 10/15 | €96,203 | €64,962 | -€31,241 | -32.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €63,962 | €63,962 | = | 0.0% |
| Distributable reserves | 133 | €63,962 | €63,962 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,241 | - | -€31,241 | |
| Amounts payable | 17/49 | €28,718 | €237,568 | +€208,850 | +727% |
| Amounts payable after more than one year | 17 | €10,015 | €143,985 | +€133,970 | +1,338% |
| Financial debts | 170/4 | €10,015 | €143,985 | +€133,970 | +1,338% |
| Amounts payable within one year | 42/48 | €18,703 | €93,583 | +€74,880 | +400% |
| Current portion of amounts payable after more than one year | 42 | €9,113 | €32,722 | +€23,610 | +259% |
| Trade debts | 44 | €5,069 | €2,585 | -€2,484 | -49.0% |
| Suppliers | 440/4 | €5,069 | €2,585 | -€2,484 | -49.0% |
| Taxes, remuneration and social security | 45 | €4,522 | €6,558 | +€2,037 | +45.0% |
| Taxes | 450/3 | €4,522 | €6,558 | +€2,037 | +45.0% |
| Other amounts payable | 47/48 | - | €51,718 | +€51,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,965 | €9,899 | -€4,065 | -29.1% |
| Other operating charges | 640/8 | €285 | €584 | +€299 | +105% |
| Gross operating margin | 9900 | €52,808 | €53,808 | +€1,000 | +1.9% |
| Operating profit (loss) | 9901 | €38,558 | €43,325 | +€4,767 | +12.4% |
| Financial income | 75/76B | €1,262 | €21,072 | +€19,810 | +1,570% |
| Recurring financial income | 75 | €1,262 | €21,072 | +€19,810 | +1,570% |
| Financial charges | 65/66B | €334 | €4,414 | +€4,080 | +1,221% |
| Recurring financial charges | 65 | €334 | €4,414 | +€4,080 | +1,221% |
| Profit (loss) for the period before taxes | 9903 | €39,485 | €59,983 | +€20,498 | +51.9% |
| Income taxes | 67/77 | €8,244 | €8,265 | +€21 | +0.3% |
| Profit (loss) for the period | 9904 | €31,241 | €51,718 | +€20,477 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,241 | €51,718 | +€20,477 | +65.5% |
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 22 October 2026 via checked.be.