NMH & 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.
NMH & CO
Largest movements
- Cash -€31,262
down €31,262 (-17.5%), from €178,838 to €147,576
mainly Debts after one year (-€45,332) and Net result for the year (-€32,305)
- Stocks and contracts -€18,263
down €18,263 (-88.7%), from €20,591 to €2,328
- Tangible fixed assets -€13,615
down €13,615 (-12.8%), from €105,973 to €92,358
of which Other tangible fixed assets: -€21,572
- Receivables within one year -€13,064
down €13,064 (-10.2%), from €128,210 to €115,146
of which Other amounts receivable: -€12,681
- Deferred charges and accrued income -€9,806
down €9,806 (-11.9%), from €82,406 to €72,600
- Debts after one year -€45,332
down €45,332 (-24.5%), from €184,775 to €139,443
- Profit (loss) carried forward -€32,305
down €32,305 (-40.5%), from €79,719 to €47,414
- Accrued charges and deferred income -€5,223
no longer reported in 2025 (was €5,223)
- Staff costs +€117,281
up €117,281 (+127.9%), from €91,698 to €208,979
- Gross operating margin +€74,560
up €74,560 (+54.2%), from €137,568 to €212,128
- Financial charges +€5,161
up €5,161 (+118.6%), from €4,354 to €9,515
- Depreciation +€3,248
up €3,248 (+12.6%), from €25,807 to €29,055
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 | €519,783 | €433,772 | -€86,011 | -16.5% |
| Fixed assets | 21/28 | €109,738 | €96,122 | -€13,615 | -12.4% |
| Tangible fixed assets | 22/27 | €105,973 | €92,358 | -€13,615 | -12.8% |
| Plant, machinery and equipment | 23 | €19,129 | €27,750 | +€8,621 | +45.1% |
| Furniture and vehicles | 24 | €2,544 | €1,880 | -€664 | -26.1% |
| Other tangible fixed assets | 26 | €84,300 | €62,728 | -€21,572 | -25.6% |
| Financial fixed assets | 28 | €3,764 | €3,764 | = | 0.0% |
| Current assets | 29/58 | €410,045 | €337,650 | -€72,395 | -17.7% |
| Stocks and contracts in progress | 3 | €20,591 | €2,328 | -€18,263 | -88.7% |
| Stocks | 30/36 | €20,591 | €2,328 | -€18,263 | -88.7% |
| Amounts receivable within one year | 40/41 | €128,210 | €115,146 | -€13,064 | -10.2% |
| Trade receivables | 40 | €1,073 | €690 | -€383 | -35.7% |
| Other amounts receivable | 41 | €127,137 | €114,457 | -€12,681 | -10.0% |
| Cash at bank and in hand | 54/58 | €178,838 | €147,576 | -€31,262 | -17.5% |
| Deferred charges and accrued income | 490/1 | €82,406 | €72,600 | -€9,806 | -11.9% |
| Total equity and liabilities | 10/49 | €519,783 | €433,772 | -€86,011 | -16.5% |
| Equity | 10/15 | €212,797 | €180,491 | -€32,305 | -15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,478 | €114,478 | = | 0.0% |
| Distributable reserves | 133 | €114,478 | €114,478 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,719 | €47,414 | -€32,305 | -40.5% |
| Amounts payable | 17/49 | €306,986 | €253,281 | -€53,705 | -17.5% |
| Amounts payable after more than one year | 17 | €184,775 | €139,443 | -€45,332 | -24.5% |
| Financial debts | 170/4 | €184,775 | €139,443 | -€45,332 | -24.5% |
| Amounts payable within one year | 42/48 | €116,988 | €113,838 | -€3,149 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €44,025 | €45,332 | +€1,307 | +3.0% |
| Trade debts | 44 | €42,612 | €38,752 | -€3,860 | -9.1% |
| Suppliers | 440/4 | €42,612 | €38,752 | -€3,860 | -9.1% |
| Taxes, remuneration and social security | 45 | €30,350 | €29,754 | -€596 | -2.0% |
| Taxes | 450/3 | €17,877 | €6,072 | -€11,805 | -66.0% |
| Remuneration and social security | 454/9 | €12,473 | €23,682 | +€11,209 | +89.9% |
| Accrued charges and deferred income | 492/3 | €5,223 | - | -€5,223 | |
| Remuneration, social security and pensions | 62 | €91,698 | €208,979 | +€117,281 | +127.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,807 | €29,055 | +€3,248 | +12.6% |
| Other operating charges | 640/8 | €388 | €2,363 | +€1,975 | +509.5% |
| Non-recurring operating charges | 66A | €130,046 | - | -€130,046 | |
| Gross operating margin | 9900 | €137,568 | €212,128 | +€74,560 | +54.2% |
| Operating profit (loss) | 9901 | -€110,370 | -€28,269 | +€82,101 | +74.4% |
| Financial income | 75/76B | €7,725 | €6,107 | -€1,618 | -20.9% |
| Recurring financial income | 75 | €7,725 | €6,107 | -€1,618 | -20.9% |
| Financial charges | 65/66B | €4,354 | €9,515 | +€5,161 | +118.6% |
| Recurring financial charges | 65 | €4,354 | €9,515 | +€5,161 | +118.6% |
| Profit (loss) for the period before taxes | 9903 | -€106,999 | -€31,677 | +€75,322 | +70.4% |
| Income taxes | 67/77 | €210 | €629 | +€419 | +199.0% |
| Profit (loss) for the period | 9904 | -€107,209 | -€32,305 | +€74,904 | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,209 | -€32,305 | +€74,904 | +69.9% |
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 4 October 2026 via checked.be.