NM Projects: 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 Projects
Largest movements
- Financial fixed assets +€80,000
up €80,000 (+114.3%), from €70,000 to €150,000
- Cash +€4,345
up €4,345 (+16.1%), from €27,071 to €31,416
mainly Other debts (+€60,000) and Net result for the year (+€23,704)
- Receivables within one year +€3,294
up €3,294 (+26.3%), from €12,520 to €15,815
of which Other amounts receivable: +€3,665
- Other debts +€60,000
new in 2025: €60,000
- Reserves +€23,704
up €23,704 (+23.8%), from €99,505 to €123,209
- Trade debts +€2,093
up €2,093 (+157.3%), from €1,330 to €3,423
- Gross operating margin +€375
up €375 (+1.0%), from €35,864 to €36,239
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 | €114,254 | €200,578 | +€86,324 | +75.6% |
| Fixed assets | 21/28 | €73,741 | €152,404 | +€78,663 | +106.7% |
| Tangible fixed assets | 22/27 | €3,741 | €2,404 | -€1,337 | -35.7% |
| Furniture and vehicles | 24 | €3,741 | €2,404 | -€1,337 | -35.7% |
| Financial fixed assets | 28 | €70,000 | €150,000 | +€80,000 | +114.3% |
| Current assets | 29/58 | €40,513 | €48,174 | +€7,661 | +18.9% |
| Amounts receivable within one year | 40/41 | €12,520 | €15,815 | +€3,294 | +26.3% |
| Trade receivables | 40 | €12,471 | €12,100 | -€371 | -3.0% |
| Other amounts receivable | 41 | €49 | €3,715 | +€3,665 | +7474.5% |
| Cash at bank and in hand | 54/58 | €27,071 | €31,416 | +€4,345 | +16.1% |
| Deferred charges and accrued income | 490/1 | €922 | €944 | +€21 | +2.3% |
| Total equity and liabilities | 10/49 | €114,254 | €200,578 | +€86,324 | +75.6% |
| Equity | 10/15 | €104,505 | €128,209 | +€23,704 | +22.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €99,505 | €123,209 | +€23,704 | +23.8% |
| Distributable reserves | 133 | €99,505 | €123,209 | +€23,704 | +23.8% |
| Amounts payable | 17/49 | €9,749 | €72,368 | +€62,619 | +642.3% |
| Amounts payable within one year | 42/48 | €9,749 | €72,368 | +€62,619 | +642.3% |
| Trade debts | 44 | €1,330 | €3,423 | +€2,093 | +157.3% |
| Suppliers | 440/4 | €1,330 | €3,423 | +€2,093 | +157.3% |
| Taxes, remuneration and social security | 45 | €8,418 | €8,945 | +€527 | +6.3% |
| Taxes | 450/3 | €8,418 | €8,945 | +€527 | +6.3% |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,403 | €1,337 | -€66 | -4.7% |
| Other operating charges | 640/8 | €1,220 | €1,455 | +€234 | +19.2% |
| Gross operating margin | 9900 | €35,864 | €36,239 | +€375 | +1.0% |
| Operating profit (loss) | 9901 | €33,241 | €33,447 | +€206 | +0.6% |
| Financial charges | 65/66B | €680 | €459 | -€221 | -32.5% |
| Recurring financial charges | 65 | €680 | €459 | -€221 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €32,561 | €32,988 | +€427 | +1.3% |
| Income taxes | 67/77 | €9,130 | €9,284 | +€154 | +1.7% |
| Profit (loss) for the period | 9904 | €23,431 | €23,704 | +€273 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,431 | €23,704 | +€273 | +1.2% |
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 5 October 2026 via checked.be.