NM & CO: 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.
NM & CO
Largest movements
- Cash +€65,886
up €65,886 (+136.9%), from €48,117 to €114,003
mainly Net result for the year (+€51,298) and Tax, wage and social debts (+€29,192)
- Tangible fixed assets -€44,463
down €44,463 (-45.2%), from €98,351 to €53,888
of which Furniture and vehicles: -€46,981
- Receivables within one year -€23,387
down €23,387 (-16.8%), from €139,285 to €115,898
of which Trade receivables: -€26,315
- Tax, wage and social debts +€29,192
up €29,192 (+57.5%), from €50,752 to €79,944
of which Taxes: +€25,249
- Trade debts -€25,270
down €25,270 (-99.0%), from €25,533 to €263
- Current portion of long-term debt -€6,070
no longer reported in 2025 (was €6,070)
- Other debts +€4,572
up €4,572 (+9.1%), from €50,000 to €54,572
- Profit (loss) carried forward -€3,273
down €3,273 (-2.1%), from €155,011 to €151,737
- Staff costs +€60,267
up €60,267 (+27.3%), from €220,483 to €280,750
- Taxes +€23,705
up €23,705 (+6908.8%), from €343 to €24,048
- Gross operating margin +€21,398
up €21,398 (+5.9%), from €363,036 to €384,434
- Depreciation +€7,495
up €7,495 (+34.7%), from €21,616 to €29,111
- Other operating charges -€5,224
down €5,224 (-74.4%), from €7,025 to €1,801
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 | €290,366 | €289,516 | -€850 | -0.3% |
| Fixed assets | 21/28 | €101,172 | €58,304 | -€42,868 | -42.4% |
| Tangible fixed assets | 22/27 | €98,351 | €53,888 | -€44,463 | -45.2% |
| Furniture and vehicles | 24 | €98,351 | €51,370 | -€46,981 | -47.8% |
| Other tangible fixed assets | 26 | - | €2,518 | +€2,518 | |
| Financial fixed assets | 28 | €2,821 | €4,416 | +€1,595 | +56.5% |
| Current assets | 29/58 | €189,194 | €231,212 | +€42,018 | +22.2% |
| Amounts receivable within one year | 40/41 | €139,285 | €115,898 | -€23,387 | -16.8% |
| Trade receivables | 40 | €87,492 | €61,177 | -€26,315 | -30.1% |
| Other amounts receivable | 41 | €51,793 | €54,721 | +€2,928 | +5.7% |
| Cash at bank and in hand | 54/58 | €48,117 | €114,003 | +€65,886 | +136.9% |
| Deferred charges and accrued income | 490/1 | €1,792 | €1,311 | -€481 | -26.8% |
| Total equity and liabilities | 10/49 | €290,366 | €289,516 | -€850 | -0.3% |
| Equity | 10/15 | €158,011 | €154,737 | -€3,273 | -2.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,011 | €151,737 | -€3,273 | -2.1% |
| Amounts payable | 17/49 | €132,356 | €134,779 | +€2,424 | +1.8% |
| Amounts payable within one year | 42/48 | €132,356 | €134,779 | +€2,424 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €6,070 | - | -€6,070 | |
| Trade debts | 44 | €25,533 | €263 | -€25,270 | -99.0% |
| Suppliers | 440/4 | €25,533 | €263 | -€25,270 | -99.0% |
| Taxes, remuneration and social security | 45 | €50,752 | €79,944 | +€29,192 | +57.5% |
| Taxes | 450/3 | €12,194 | €37,443 | +€25,249 | +207.1% |
| Remuneration and social security | 454/9 | €38,558 | €42,502 | +€3,943 | +10.2% |
| Other amounts payable | 47/48 | €50,000 | €54,572 | +€4,572 | +9.1% |
| Non-recurring operating income | 76A | - | €298 | +€298 | |
| Remuneration, social security and pensions | 62 | €220,483 | €280,750 | +€60,267 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,616 | €29,111 | +€7,495 | +34.7% |
| Other operating charges | 640/8 | €7,025 | €1,801 | -€5,224 | -74.4% |
| Gross operating margin | 9900 | €363,036 | €384,434 | +€21,398 | +5.9% |
| Operating profit (loss) | 9901 | €113,912 | €72,772 | -€41,140 | -36.1% |
| Financial income | 75/76B | €1,693 | €2,927 | +€1,235 | +72.9% |
| Recurring financial income | 75 | €1,693 | €2,927 | +€1,235 | +72.9% |
| Financial charges | 65/66B | €863 | €353 | -€511 | -59.1% |
| Recurring financial charges | 65 | €863 | €353 | -€511 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €114,741 | €75,346 | -€39,395 | -34.3% |
| Income taxes | 67/77 | €343 | €24,048 | +€23,705 | +6908.8% |
| Profit (loss) for the period | 9904 | €114,398 | €51,298 | -€63,099 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €114,398 | €51,298 | -€63,099 | -55.2% |
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 8 October 2026 via checked.be.