NLB Construct: 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.
NLB Construct
Largest movements
- Cash +€22,579
up €22,579 (+144.0%), from €15,680 to €38,259
mainly Net result for the year (+€37,190) and Depreciation (+€11,462)
- Tangible fixed assets -€11,462
down €11,462 (-34.9%), from €32,820 to €21,358
of which Furniture and vehicles: -€11,237
- Receivables within one year +€5,433
up €5,433 (+8.4%), from €64,472 to €69,906
of which Trade receivables: +€5,433
- Reserves +€21,661
new in 2025: €21,661
- Profit (loss) carried forward -€9,471
down €9,471 (-20.3%), from €46,661 to €37,190
- Debts after one year -€9,058
down €9,058 (-51.4%), from €17,638 to €8,581
- Tax, wage and social debts +€7,773
up €7,773 (+35.9%), from €21,654 to €29,428
of which Taxes: +€7,715
- Other debts +€5,090
up €5,090 (+28.3%), from €17,958 to €23,048
- Gross operating margin -€9,128
down €9,128 (-12.2%), from €74,528 to €65,400
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 | €116,112 | €132,456 | +€16,344 | +14.1% |
| Fixed assets | 21/28 | €32,820 | €21,358 | -€11,462 | -34.9% |
| Tangible fixed assets | 22/27 | €32,820 | €21,358 | -€11,462 | -34.9% |
| Plant, machinery and equipment | 23 | €509 | €284 | -€225 | -44.3% |
| Furniture and vehicles | 24 | €32,311 | €21,074 | -€11,237 | -34.8% |
| Current assets | 29/58 | €83,292 | €111,098 | +€27,806 | +33.4% |
| Amounts receivable within one year | 40/41 | €64,472 | €69,906 | +€5,433 | +8.4% |
| Trade receivables | 40 | €64,442 | €69,875 | +€5,433 | +8.4% |
| Other amounts receivable | 41 | €31 | €31 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,680 | €38,259 | +€22,579 | +144.0% |
| Deferred charges and accrued income | 490/1 | €3,140 | €2,933 | -€206 | -6.6% |
| Total equity and liabilities | 10/49 | €116,112 | €132,456 | +€16,344 | +14.1% |
| Equity | 10/15 | €47,661 | €59,852 | +€12,190 | +25.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €21,661 | +€21,661 | |
| Distributable reserves | 133 | - | €21,661 | +€21,661 | |
| Profit (loss) carried forward | 14 | €46,661 | €37,190 | -€9,471 | -20.3% |
| Amounts payable | 17/49 | €68,451 | €72,604 | +€4,153 | +6.1% |
| Amounts payable after more than one year | 17 | €17,638 | €8,581 | -€9,058 | -51.4% |
| Financial debts | 170/4 | €17,638 | €8,581 | -€9,058 | -51.4% |
| Amounts payable within one year | 42/48 | €50,812 | €64,023 | +€13,211 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €8,471 | €9,058 | +€587 | +6.9% |
| Trade debts | 44 | €2,730 | €2,490 | -€240 | -8.8% |
| Suppliers | 440/4 | €2,730 | €2,490 | -€240 | -8.8% |
| Taxes, remuneration and social security | 45 | €21,654 | €29,428 | +€7,773 | +35.9% |
| Taxes | 450/3 | €19,298 | €27,013 | +€7,715 | +40.0% |
| Remuneration and social security | 454/9 | €2,357 | €2,415 | +€58 | +2.5% |
| Other amounts payable | 47/48 | €17,958 | €23,048 | +€5,090 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,771 | €11,462 | +€692 | +6.4% |
| Other operating charges | 640/8 | €1,295 | €1,170 | -€125 | -9.6% |
| Gross operating margin | 9900 | €74,528 | €65,400 | -€9,128 | -12.2% |
| Operating profit (loss) | 9901 | €62,463 | €52,768 | -€9,695 | -15.5% |
| Financial charges | 65/66B | €2,934 | €2,446 | -€488 | -16.6% |
| Recurring financial charges | 65 | €2,934 | €2,446 | -€488 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €59,529 | €50,322 | -€9,207 | -15.5% |
| Income taxes | 67/77 | €12,868 | €13,131 | +€264 | +2.0% |
| Profit (loss) for the period | 9904 | €46,661 | €37,190 | -€9,471 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,661 | €37,190 | -€9,471 | -20.3% |
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.