NLSVRM: 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.
NLSVRM
Largest movements
- Cash +€17,198
up €17,198 (+389.8%), from €4,412 to €21,609
mainly Depreciation (+€13,229) and Net result for the year (+€10,639)
- Tangible fixed assets -€6,746
down €6,746 (-6.5%), from €103,236 to €96,491
of which Land and buildings: -€7,248
- Receivables within one year +€3,381
up €3,381 (+5.0%), from €67,373 to €70,754
of which Other amounts receivable: +€2,908
- Reserves +€8,570
up €8,570 (+5.5%), from €155,425 to €163,995
of which Distributable reserves: +€8,570
- Tax, wage and social debts +€6,005
up €6,005 (+41.5%), from €14,486 to €20,491
- Trade debts -€2,408
down €2,408 (-93.9%), from €2,564 to €156
- Gross operating margin -€22,985
down €22,985 (-39.4%), from €58,268 to €35,283
- Taxes -€6,831
down €6,831 (-53.5%), from €12,759 to €5,928
- Depreciation +€2,593
up €2,593 (+24.4%), from €10,636 to €13,229
- Other operating charges -€1,418
down €1,418 (-35.3%), from €4,020 to €2,602
- Financial charges -€746
down €746 (-20.4%), from €3,651 to €2,905
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 | €178,675 | €191,742 | +€13,067 | +7.3% |
| Fixed assets | 21/28 | €103,736 | €96,491 | -€7,246 | -7.0% |
| Tangible fixed assets | 22/27 | €103,236 | €96,491 | -€6,746 | -6.5% |
| Land and buildings | 22 | €73,171 | €65,923 | -€7,248 | -9.9% |
| Furniture and vehicles | 24 | €26,129 | €27,749 | +€1,620 | +6.2% |
| Other tangible fixed assets | 26 | €3,936 | €2,819 | -€1,117 | -28.4% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €74,938 | €95,251 | +€20,313 | +27.1% |
| Stocks and contracts in progress | 3 | €2,150 | €2,150 | = | 0.0% |
| Stocks | 30/36 | €2,150 | €2,150 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €67,373 | €70,754 | +€3,381 | +5.0% |
| Trade receivables | 40 | €30,830 | €31,302 | +€472 | +1.5% |
| Other amounts receivable | 41 | €36,543 | €39,451 | +€2,908 | +8.0% |
| Cash at bank and in hand | 54/58 | €4,412 | €21,609 | +€17,198 | +389.8% |
| Deferred charges and accrued income | 490/1 | €1,004 | €738 | -€266 | -26.5% |
| Total equity and liabilities | 10/49 | €178,675 | €191,742 | +€13,067 | +7.3% |
| Equity | 10/15 | €161,625 | €170,195 | +€8,570 | +5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €155,425 | €163,995 | +€8,570 | +5.5% |
| 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 | €153,565 | €162,135 | +€8,570 | +5.6% |
| Amounts payable | 17/49 | €17,050 | €21,547 | +€4,497 | +26.4% |
| Amounts payable within one year | 42/48 | €17,050 | €20,647 | +€3,597 | +21.1% |
| Trade debts | 44 | €2,564 | €156 | -€2,408 | -93.9% |
| Suppliers | 440/4 | €2,564 | €156 | -€2,408 | -93.9% |
| Taxes, remuneration and social security | 45 | €14,486 | €20,491 | +€6,005 | +41.5% |
| Taxes | 450/3 | €14,486 | €20,491 | +€6,005 | +41.5% |
| Accrued charges and deferred income | 492/3 | - | €900 | +€900 | |
| Non-recurring operating income | 76A | €21,839 | - | -€21,839 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,636 | €13,229 | +€2,593 | +24.4% |
| Other operating charges | 640/8 | €4,020 | €2,602 | -€1,418 | -35.3% |
| Gross operating margin | 9900 | €58,268 | €35,283 | -€22,985 | -39.4% |
| Operating profit (loss) | 9901 | €43,611 | €19,452 | -€24,160 | -55.4% |
| Financial income | 75/76B | €1 | €20 | +€20 | +3902.0% |
| Recurring financial income | 75 | €1 | €20 | +€20 | +3902.0% |
| Financial charges | 65/66B | €3,651 | €2,905 | -€746 | -20.4% |
| Recurring financial charges | 65 | €3,651 | €2,905 | -€746 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €39,961 | €16,567 | -€23,394 | -58.5% |
| Income taxes | 67/77 | €12,759 | €5,928 | -€6,831 | -53.5% |
| Profit (loss) for the period | 9904 | €27,202 | €10,639 | -€16,563 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,202 | €10,639 | -€16,563 | -60.9% |
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 29 September 2026 via checked.be.