NM²: 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.
NM²
Largest movements
- Cash +€47,581
up €47,581 (+178.7%), from €26,629 to €74,210
mainly Net result for the year (+€29,941) and Depreciation (+€12,121)
- Tangible fixed assets -€11,435
down €11,435 (-27.0%), from €42,409 to €30,974
of which Furniture and vehicles: -€10,713
- Deferred charges and accrued income -€2,966
down €2,966 (-87.4%), from €3,394 to €428
- Reserves +€29,941
up €29,941 (+37.8%), from €79,290 to €109,231
- Tax, wage and social debts +€4,383
up €4,383 (+82.5%), from €5,316 to €9,699
- Depreciation +€8,065
up €8,065 (+198.9%), from €4,055 to €12,121
- Gross operating margin -€6,525
down €6,525 (-10.4%), from €62,874 to €56,350
- Taxes -€3,877
down €3,877 (-24.4%), from €15,862 to €11,984
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 | €94,038 | €127,142 | +€33,104 | +35.2% |
| Fixed assets | 21/28 | €42,409 | €30,974 | -€11,435 | -27.0% |
| Tangible fixed assets | 22/27 | €42,409 | €30,974 | -€11,435 | -27.0% |
| Land and buildings | 22 | €12,635 | €11,297 | -€1,339 | -10.6% |
| Plant, machinery and equipment | 23 | - | €617 | +€617 | |
| Furniture and vehicles | 24 | €29,774 | €19,060 | -€10,713 | -36.0% |
| Current assets | 29/58 | €51,629 | €96,168 | +€44,539 | +86.3% |
| Stocks and contracts in progress | 3 | €2,045 | €2,045 | = | 0.0% |
| Stocks | 30/36 | €2,045 | €2,045 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,561 | €19,485 | -€76 | -0.4% |
| Trade receivables | 40 | €18,404 | €10,504 | -€7,900 | -42.9% |
| Other amounts receivable | 41 | €1,156 | €8,981 | +€7,824 | +676.6% |
| Cash at bank and in hand | 54/58 | €26,629 | €74,210 | +€47,581 | +178.7% |
| Deferred charges and accrued income | 490/1 | €3,394 | €428 | -€2,966 | -87.4% |
| Total equity and liabilities | 10/49 | €94,038 | €127,142 | +€33,104 | +35.2% |
| Equity | 10/15 | €84,290 | €114,231 | +€29,941 | +35.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €79,290 | €109,231 | +€29,941 | +37.8% |
| Distributable reserves | 133 | €79,290 | €109,231 | +€29,941 | +37.8% |
| Amounts payable | 17/49 | €9,748 | €12,910 | +€3,163 | +32.4% |
| Amounts payable within one year | 42/48 | €8,648 | €11,810 | +€3,163 | +36.6% |
| Trade debts | 44 | €3,332 | €2,111 | -€1,221 | -36.6% |
| Suppliers | 440/4 | €3,332 | €2,111 | -€1,221 | -36.6% |
| Taxes, remuneration and social security | 45 | €5,316 | €9,699 | +€4,383 | +82.5% |
| Taxes | 450/3 | €5,316 | €9,699 | +€4,383 | +82.5% |
| Accrued charges and deferred income | 492/3 | €1,100 | €1,100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,055 | €12,121 | +€8,065 | +198.9% |
| Other operating charges | 640/8 | €352 | €144 | -€208 | -59.1% |
| Gross operating margin | 9900 | €62,874 | €56,350 | -€6,525 | -10.4% |
| Operating profit (loss) | 9901 | €58,467 | €44,085 | -€14,381 | -24.6% |
| Financial income | 75/76B | €19 | €13 | -€5 | -29.1% |
| Recurring financial income | 75 | €19 | €13 | -€5 | -29.1% |
| Financial charges | 65/66B | €2,319 | €2,173 | -€146 | -6.3% |
| Recurring financial charges | 65 | €2,319 | €2,173 | -€146 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €56,166 | €41,925 | -€14,241 | -25.4% |
| Income taxes | 67/77 | €15,862 | €11,984 | -€3,877 | -24.4% |
| Profit (loss) for the period | 9904 | €40,305 | €29,941 | -€10,364 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,305 | €29,941 | -€10,364 | -25.7% |
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.