NM MANAGEMENT: 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 MANAGEMENT
Largest movements
- Current investments -€32,091
down €32,091 (-23.7%), from €135,380 to €103,288
- Tangible fixed assets +€24,035
up €24,035 (+335.2%), from €7,170 to €31,205
- Cash +€9,371
up €9,371 (+135.8%), from €6,903 to €16,274
mainly Net result for the year (+€38,314) and Current investments (+€32,091)
- Receivables within one year +€8,071
up €8,071 (+53.7%), from €15,030 to €23,101
of which Other amounts receivable: +€8,845
- Tax, wage and social debts -€39,833
down €39,833 (-88.5%), from €44,984 to €5,151
- Profit (loss) carried forward +€38,314
up €38,314 (+87.9%), from €43,611 to €81,924
- Trade debts +€7,068
up €7,068 (+10026.4%), from €70 to €7,138
- Other debts +€3,998
up €3,998 (+5.6%), from €70,818 to €74,815
- Gross operating margin -€3,688
down €3,688 (-5.9%), from €62,822 to €59,135
- Taxes -€2,989
down €2,989 (-17.4%), from €17,155 to €14,166
- Other operating charges +€2,436
up €2,436 (+7382.1%), from €33 to €2,469
- Depreciation +€1,581
up €1,581 (+62.0%), from €2,551 to €4,132
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 | €164,483 | €174,029 | +€9,546 | +5.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €7,170 | €31,205 | +€24,035 | +335.2% |
| Tangible fixed assets | 22/27 | €7,170 | €31,205 | +€24,035 | +335.2% |
| Furniture and vehicles | 24 | €7,170 | €31,205 | +€24,035 | +335.2% |
| Current assets | 29/58 | €157,313 | €142,824 | -€14,489 | -9.2% |
| Amounts receivable within one year | 40/41 | €15,030 | €23,101 | +€8,071 | +53.7% |
| Trade receivables | 40 | €14,966 | €14,192 | -€774 | -5.2% |
| Other amounts receivable | 41 | €64 | €8,909 | +€8,845 | +13863.8% |
| Current investments | 50/53 | €135,380 | €103,288 | -€32,091 | -23.7% |
| Cash at bank and in hand | 54/58 | €6,903 | €16,274 | +€9,371 | +135.8% |
| Deferred charges and accrued income | 490/1 | - | €161 | +€161 | |
| Total equity and liabilities | 10/49 | €164,483 | €174,029 | +€9,546 | +5.8% |
| Equity | 10/15 | €48,611 | €86,924 | +€38,314 | +78.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,611 | €81,924 | +€38,314 | +87.9% |
| Amounts payable | 17/49 | €115,872 | €87,104 | -€28,768 | -24.8% |
| Amounts payable within one year | 42/48 | €115,872 | €87,104 | -€28,768 | -24.8% |
| Trade debts | 44 | €70 | €7,138 | +€7,068 | +10026.4% |
| Suppliers | 440/4 | €70 | €7,138 | +€7,068 | +10026.4% |
| Taxes, remuneration and social security | 45 | €44,984 | €5,151 | -€39,833 | -88.5% |
| Taxes | 450/3 | €44,984 | €5,151 | -€39,833 | -88.5% |
| Other amounts payable | 47/48 | €70,818 | €74,815 | +€3,998 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,551 | €4,132 | +€1,581 | +62.0% |
| Other operating charges | 640/8 | €33 | €2,469 | +€2,436 | +7382.1% |
| Gross operating margin | 9900 | €62,822 | €59,135 | -€3,688 | -5.9% |
| Operating profit (loss) | 9901 | €60,239 | €52,533 | -€7,705 | -12.8% |
| Financial income | 75/76B | €354 | €842 | +€488 | +137.9% |
| Recurring financial income | 75 | €354 | €842 | +€488 | +137.9% |
| Financial charges | 65/66B | €807 | €895 | +€88 | +10.9% |
| Recurring financial charges | 65 | €807 | €895 | +€88 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €59,785 | €52,480 | -€7,305 | -12.2% |
| Income taxes | 67/77 | €17,155 | €14,166 | -€2,989 | -17.4% |
| Profit (loss) for the period | 9904 | €42,630 | €38,314 | -€4,316 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,630 | €38,314 | -€4,316 | -10.1% |
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 7 October 2026 via checked.be.