NLN: 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.
NLN
Largest movements
- Tangible fixed assets +€111,550
up €111,550 (+437.5%), from €25,495 to €137,045
of which Land and buildings: +€110,122
- Cash -€92,039
down €92,039 (-65.1%), from €141,406 to €49,367
mainly Investment in fixed assets (net) (-€114,702) and Tax, wage and social debts (-€35,626)
- Receivables within one year -€43,061
down €43,061 (-56.0%), from €76,941 to €33,880
of which Trade receivables: -€43,060
- Reserves +€46,607
up €46,607 (+19.1%), from €243,563 to €290,170
- Tax, wage and social debts -€35,626
down €35,626 (-62.7%), from €56,774 to €21,149
- Debts after one year -€27,458
down €27,458 (-32.0%), from €85,820 to €58,362
- Trade debts -€4,863
down €4,863 (-79.1%), from €6,145 to €1,283
- Other operating charges +€17,484
up €17,484 (+1332.6%), from €1,312 to €18,796
- Gross operating margin -€17,386
down €17,386 (-13.3%), from €131,140 to €113,754
- Taxes -€6,506
down €6,506 (-20.1%), from €32,367 to €25,861
- Staff costs +€4,203
up €4,203 (+72.6%), from €5,786 to €9,988
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 | €475,123 | €450,293 | -€24,831 | -5.2% |
| Fixed assets | 21/28 | €255,495 | €367,045 | +€111,550 | +43.7% |
| Tangible fixed assets | 22/27 | €25,495 | €137,045 | +€111,550 | +437.5% |
| Land and buildings | 22 | - | €110,122 | +€110,122 | |
| Furniture and vehicles | 24 | €8,802 | €10,230 | +€1,428 | +16.2% |
| Other tangible fixed assets | 26 | €16,693 | €16,693 | = | 0.0% |
| Financial fixed assets | 28 | €230,000 | €230,000 | = | 0.0% |
| Current assets | 29/58 | €219,628 | €83,247 | -€136,381 | -62.1% |
| Amounts receivable within one year | 40/41 | €76,941 | €33,880 | -€43,061 | -56.0% |
| Trade receivables | 40 | €76,940 | €33,880 | -€43,060 | -56.0% |
| Other amounts receivable | 41 | €1 | - | -€1 | |
| Cash at bank and in hand | 54/58 | €141,406 | €49,367 | -€92,039 | -65.1% |
| Deferred charges and accrued income | 490/1 | €1,281 | - | -€1,281 | |
| Total equity and liabilities | 10/49 | €475,123 | €450,293 | -€24,831 | -5.2% |
| Equity | 10/15 | €248,563 | €295,170 | +€46,607 | +18.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €243,563 | €290,170 | +€46,607 | +19.1% |
| Distributable reserves | 133 | €243,563 | €290,170 | +€46,607 | +19.1% |
| Amounts payable | 17/49 | €226,561 | €155,123 | -€71,438 | -31.5% |
| Amounts payable after more than one year | 17 | €85,820 | €58,362 | -€27,458 | -32.0% |
| Financial debts | 170/4 | €85,820 | €58,362 | -€27,458 | -32.0% |
| Amounts payable within one year | 42/48 | €140,741 | €96,761 | -€43,979 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €27,104 | €27,458 | +€354 | +1.3% |
| Trade debts | 44 | €6,145 | €1,283 | -€4,863 | -79.1% |
| Suppliers | 440/4 | €6,145 | €1,283 | -€4,863 | -79.1% |
| Taxes, remuneration and social security | 45 | €56,774 | €21,149 | -€35,626 | -62.7% |
| Taxes | 450/3 | €56,774 | €21,149 | -€35,626 | -62.7% |
| Other amounts payable | 47/48 | €50,717 | €46,872 | -€3,845 | -7.6% |
| Remuneration, social security and pensions | 62 | €5,786 | €9,988 | +€4,203 | +72.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,376 | €3,152 | +€775 | +32.6% |
| Other operating charges | 640/8 | €1,312 | €18,796 | +€17,484 | +1332.6% |
| Gross operating margin | 9900 | €131,140 | €113,754 | -€17,386 | -13.3% |
| Operating profit (loss) | 9901 | €121,666 | €81,818 | -€39,848 | -32.8% |
| Financial income | 75/76B | - | €545 | +€545 | |
| Recurring financial income | 75 | - | €545 | +€545 | |
| Financial charges | 65/66B | €11,082 | €9,895 | -€1,187 | -10.7% |
| Recurring financial charges | 65 | €11,082 | €9,895 | -€1,187 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €110,584 | €72,468 | -€38,116 | -34.5% |
| Income taxes | 67/77 | €32,367 | €25,861 | -€6,506 | -20.1% |
| Profit (loss) for the period | 9904 | €78,217 | €46,607 | -€31,610 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,217 | €46,607 | -€31,610 | -40.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.