NKO-AH: 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.
NKO-AH
Largest movements
- Deferred charges and accrued income +€53,608
up €53,608 (+129%), from €41,601 to €95,209
- Cash -€18,844
down €18,844 (-23.5%), from €80,041 to €61,197
mainly Deferred charges and accrued income (-€53,608) and Tax, wage and social debts (-€10,408)
- Receivables within one year +€4,029
up €4,029 (+21.1%), from €19,131 to €23,160
- Reserves +€56,410
up €56,410 (+61.7%), from €91,413 to €147,824
- Tax, wage and social debts -€10,408
down €10,408 (-36.5%), from €28,479 to €18,071
- Trade debts -€5,237
down €5,237 (-28.4%), from €18,412 to €13,175
- Accrued charges and deferred income -€1,958
down €1,958 (-59.2%), from €3,309 to €1,351
- Gross operating margin -€43,884
down €43,884 (-37.8%), from €116,091 to €72,208
- Taxes -€9,408
down €9,408 (-38.4%), from €24,479 to €15,071
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 | €146,613 | €185,421 | +€38,808 | +26.5% |
| Fixed assets | 21/28 | €5,840 | €5,855 | +€15 | +0.3% |
| Tangible fixed assets | 22/27 | €5,840 | €5,855 | +€15 | +0.3% |
| Furniture and vehicles | 24 | €5,840 | €5,855 | +€15 | +0.3% |
| Current assets | 29/58 | €140,773 | €179,566 | +€38,793 | +27.6% |
| Amounts receivable within one year | 40/41 | €19,131 | €23,160 | +€4,029 | +21.1% |
| Other amounts receivable | 41 | €19,131 | €23,160 | +€4,029 | +21.1% |
| Cash at bank and in hand | 54/58 | €80,041 | €61,197 | -€18,844 | -23.5% |
| Deferred charges and accrued income | 490/1 | €41,601 | €95,209 | +€53,608 | +129% |
| Total equity and liabilities | 10/49 | €146,613 | €185,421 | +€38,808 | +26.5% |
| Equity | 10/15 | €96,413 | €152,824 | +€56,410 | +58.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €91,413 | €147,824 | +€56,410 | +61.7% |
| Distributable reserves | 133 | €91,413 | €147,824 | +€56,410 | +61.7% |
| Amounts payable | 17/49 | €50,200 | €32,597 | -€17,603 | -35.1% |
| Amounts payable within one year | 42/48 | €46,891 | €31,246 | -€15,644 | -33.4% |
| Trade debts | 44 | €18,412 | €13,175 | -€5,237 | -28.4% |
| Suppliers | 440/4 | €18,412 | €13,175 | -€5,237 | -28.4% |
| Taxes, remuneration and social security | 45 | €28,479 | €18,071 | -€10,408 | -36.5% |
| Taxes | 450/3 | €28,479 | €18,071 | -€10,408 | -36.5% |
| Accrued charges and deferred income | 492/3 | €3,309 | €1,351 | -€1,958 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384 | €1,362 | +€977 | +254% |
| Other operating charges | 640/8 | €317 | €310 | -€7 | -2.2% |
| Gross operating margin | 9900 | €116,091 | €72,208 | -€43,884 | -37.8% |
| Operating profit (loss) | 9901 | €115,390 | €70,536 | -€44,854 | -38.9% |
| Financial income | 75/76B | €580 | €1,146 | +€566 | +97.7% |
| Recurring financial income | 75 | €580 | €1,146 | +€566 | +97.7% |
| Financial charges | 65/66B | €78 | €200 | +€122 | +158% |
| Recurring financial charges | 65 | €78 | €200 | +€122 | +158% |
| Profit (loss) for the period before taxes | 9903 | €115,892 | €71,482 | -€44,410 | -38.3% |
| Income taxes | 67/77 | €24,479 | €15,071 | -€9,408 | -38.4% |
| Profit (loss) for the period | 9904 | €91,413 | €56,410 | -€35,003 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,413 | €56,410 | -€35,003 | -38.3% |
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 25 October 2026 via checked.be.