NLM: 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.
NLM
Largest movements
- Receivables within one year -€26,175
down €26,175 (-18.1%), from €144,694 to €118,520
of which Other amounts receivable: -€30,669
- Stocks and contracts -€24,629
down €24,629 (-89.2%), from €27,615 to €2,986
- Cash +€19,514
up €19,514 (+1,179%), from €1,655 to €21,169
mainly Receivables within one year (+€26,175) and Stocks and contracts (+€24,629)
- Profit (loss) carried forward -€20,338
down €20,338 (-27.3%), from €74,390 to €54,053
- Debts after one year -€18,239
down €18,239 (-36.1%), from €50,527 to €32,288
- Trade debts +€10,203
up €10,203 (+53.0%), from €19,264 to €29,467
- Tax, wage and social debts -€6,320
down €6,320 (-34.6%), from €18,268 to €11,948
of which Taxes: -€6,320
- Short-term financial debts +€4,933
new in 2025: €4,933
- Gross operating margin -€35,615
down €35,615, from €25,110 to -€10,505
- Taxes -€5,602
down €5,602 (-64.3%), from €8,708 to €3,106
- Financial charges -€2,022
down €2,022 (-32.2%), from €6,279 to €4,257
- Other operating charges -€1,991
down €1,991 (-74.1%), from €2,688 to €697
- Financial income +€1,013
up €1,013 (+17.2%), from €5,894 to €6,907
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 | €189,957 | €159,351 | -€30,606 | -16.1% |
| Fixed assets | 21/28 | €15,992 | €14,957 | -€1,036 | -6.5% |
| Tangible fixed assets | 22/27 | €15,992 | €14,957 | -€1,036 | -6.5% |
| Plant, machinery and equipment | 23 | €1,712 | €1,493 | -€220 | -12.8% |
| Furniture and vehicles | 24 | €14,280 | €13,464 | -€816 | -5.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €173,965 | €144,395 | -€29,570 | -17.0% |
| Stocks and contracts in progress | 3 | €27,615 | €2,986 | -€24,629 | -89.2% |
| Stocks | 30/36 | €27,615 | €2,986 | -€24,629 | -89.2% |
| Amounts receivable within one year | 40/41 | €144,694 | €118,520 | -€26,175 | -18.1% |
| Trade receivables | 40 | €11,791 | €16,286 | +€4,495 | +38.1% |
| Other amounts receivable | 41 | €132,903 | €102,234 | -€30,669 | -23.1% |
| Cash at bank and in hand | 54/58 | €1,655 | €21,169 | +€19,514 | +1,179% |
| Deferred charges and accrued income | 490/1 | - | €1,720 | +€1,720 | |
| Total equity and liabilities | 10/49 | €189,957 | €159,351 | -€30,606 | -16.1% |
| Equity | 10/15 | €82,814 | €62,476 | -€20,338 | -24.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,224 | €2,224 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €364 | €364 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,390 | €54,053 | -€20,338 | -27.3% |
| Amounts payable | 17/49 | €107,143 | €96,875 | -€10,268 | -9.6% |
| Amounts payable after more than one year | 17 | €50,527 | €32,288 | -€18,239 | -36.1% |
| Financial debts | 170/4 | €50,527 | €32,288 | -€18,239 | -36.1% |
| Amounts payable within one year | 42/48 | €56,616 | €64,587 | +€7,970 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €17,434 | €18,239 | +€805 | +4.6% |
| Financial debts | 43 | - | €4,933 | +€4,933 | |
| Credit institutions | 430/8 | - | €4,933 | +€4,933 | |
| Trade debts | 44 | €19,264 | €29,467 | +€10,203 | +53.0% |
| Suppliers | 440/4 | €19,264 | €29,467 | +€10,203 | +53.0% |
| Advances received on contracts in progress | 46 | €1,651 | €0 | -€1,651 | -100% |
| Taxes, remuneration and social security | 45 | €18,268 | €11,948 | -€6,320 | -34.6% |
| Taxes | 450/3 | €18,268 | €11,948 | -€6,320 | -34.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,080 | €8,680 | +€600 | +7.4% |
| Other operating charges | 640/8 | €2,688 | €697 | -€1,991 | -74.1% |
| Gross operating margin | 9900 | €25,110 | -€10,505 | -€35,615 | |
| Operating profit (loss) | 9901 | €14,343 | -€19,882 | -€34,225 | |
| Financial income | 75/76B | €5,894 | €6,907 | +€1,013 | +17.2% |
| Recurring financial income | 75 | €5,894 | €6,907 | +€1,013 | +17.2% |
| Financial charges | 65/66B | €6,279 | €4,257 | -€2,022 | -32.2% |
| Recurring financial charges | 65 | €6,279 | €4,257 | -€2,022 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €13,958 | -€17,232 | -€31,190 | |
| Income taxes | 67/77 | €8,708 | €3,106 | -€5,602 | -64.3% |
| Profit (loss) for the period | 9904 | €5,250 | -€20,338 | -€25,588 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,250 | -€20,338 | -€25,588 |
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 14 October 2026 via checked.be.