NLT: 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.
NLT
Largest movements
- Cash +€45,721
up €45,721 (+318%), from €14,363 to €60,084
mainly Net result for the year (+€141,707) and Tax, wage and social debts (+€36,103)
- Reserves +€141,707
up €141,707 (+42.9%), from €330,479 to €472,186
- Other debts -€71,223
down €71,223 (-50.1%), from €142,194 to €70,972
- Accrued charges and deferred income -€68,300
no longer reported in 2025 (was €68,300)
- Tax, wage and social debts +€36,103
up €36,103 (+737%), from €4,899 to €41,002
- Financial income +€99,260
up €99,260 (+34,227,531%), from €0 to €99,260
- Taxes +€10,578
up €10,578 (+41.9%), from €25,223 to €35,801
- Financial charges -€1,582
down €1,582 (-94.5%), from €1,674 to €92
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 | €2,385,426 | €2,423,621 | +€38,195 | +1.6% |
| Fixed assets | 21/28 | €2,297,610 | €2,296,888 | -€722 | 0.0% |
| Tangible fixed assets | 22/27 | €3,070 | €2,348 | -€722 | -23.5% |
| Plant, machinery and equipment | 23 | €3,070 | €2,348 | -€722 | -23.5% |
| Financial fixed assets | 28 | €2,294,540 | €2,294,540 | = | 0.0% |
| Current assets | 29/58 | €87,816 | €126,734 | +€38,917 | +44.3% |
| Amounts receivable within one year | 40/41 | €73,453 | €66,650 | -€6,803 | -9.3% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €61,353 | €54,550 | -€6,803 | -11.1% |
| Cash at bank and in hand | 54/58 | €14,363 | €60,084 | +€45,721 | +318% |
| Total equity and liabilities | 10/49 | €2,385,426 | €2,423,621 | +€38,195 | +1.6% |
| Equity | 10/15 | €2,168,797 | €2,310,503 | +€141,707 | +6.5% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €330,479 | €472,186 | +€141,707 | +42.9% |
| Distributable reserves | 133 | €330,479 | €472,186 | +€141,707 | +42.9% |
| Profit (loss) carried forward | 14 | €338,317 | €338,317 | = | 0.0% |
| Amounts payable | 17/49 | €216,629 | €113,118 | -€103,512 | -47.8% |
| Amounts payable within one year | 42/48 | €148,329 | €113,118 | -€35,212 | -23.7% |
| Trade debts | 44 | €1,236 | €1,144 | -€92 | -7.4% |
| Suppliers | 440/4 | €1,236 | €1,144 | -€92 | -7.4% |
| Taxes, remuneration and social security | 45 | €4,899 | €41,002 | +€36,103 | +737% |
| Taxes | 450/3 | €4,899 | €41,002 | +€36,103 | +737% |
| Other amounts payable | 47/48 | €142,194 | €70,972 | -€71,223 | -50.1% |
| Accrued charges and deferred income | 492/3 | €68,300 | - | -€68,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €542 | €722 | +€181 | +33.3% |
| Other operating charges | 640/8 | €1,575 | €2,005 | +€431 | +27.3% |
| Gross operating margin | 9900 | €81,234 | €81,067 | -€168 | -0.2% |
| Operating profit (loss) | 9901 | €79,118 | €78,339 | -€779 | -1.0% |
| Financial income | 75/76B | €0 | €99,260 | +€99,260 | +34,227,531% |
| Recurring financial income | 75 | €0 | €99,260 | +€99,260 | +34,227,531% |
| Financial charges | 65/66B | €1,674 | €92 | -€1,582 | -94.5% |
| Recurring financial charges | 65 | €1,674 | €92 | -€1,582 | -94.5% |
| Profit (loss) for the period before taxes | 9903 | €77,445 | €177,507 | +€100,063 | +129% |
| Income taxes | 67/77 | €25,223 | €35,801 | +€10,578 | +41.9% |
| Profit (loss) for the period | 9904 | €52,221 | €141,707 | +€89,485 | +171% |
| Profit (loss) for the period to be appropriated | 9905 | €52,221 | €141,707 | +€89,485 | +171% |
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 17 October 2026 via checked.be.