NMH 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.
NMH MANAGEMENT
Largest movements
- Financial fixed assets +€100,000
up €100,000 (+22.2%), from €450,000 to €550,000
- Cash +€12,143
up €12,143 (+37.7%), from €32,215 to €44,358
mainly Net result for the year (+€255,784) and Other debts (+€138,400)
- Receivables within one year -€8,698
down €8,698 (-35.8%), from €24,287 to €15,589
of which Trade receivables: -€15,886
- Debts after one year -€260,000
down €260,000 (-65.0%), from €400,000 to €140,000
- Profit (loss) carried forward +€193,004
up €193,004 (+231.8%), from €83,247 to €276,251
- Other debts +€138,400
up €138,400, from €0 to €138,400
- Reserves +€42,100
up €42,100 (+3040.6%), from €1,385 to €43,485
of which Tax-exempt reserves: +€42,100
- Tax, wage and social debts -€22,687
down €22,687 (-54.8%), from €41,404 to €18,718
- Financial income +€145,942
up €145,942 (+70299.4%), from €208 to €146,149
- Gross operating margin +€86,374
up €86,374 (+105.1%), from €82,209 to €168,583
- Financial charges +€18,186
up €18,186 (+3346.2%), from €543 to €18,730
- Taxes +€17,154
up €17,154 (+76.5%), from €22,424 to €39,578
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 | €531,062 | €633,214 | +€102,151 | +19.2% |
| Fixed assets | 21/28 | €451,873 | €551,231 | +€99,358 | +22.0% |
| Tangible fixed assets | 22/27 | €1,873 | €1,231 | -€642 | -34.3% |
| Furniture and vehicles | 24 | €1,873 | €1,231 | -€642 | -34.3% |
| Financial fixed assets | 28 | €450,000 | €550,000 | +€100,000 | +22.2% |
| Current assets | 29/58 | €79,190 | €81,983 | +€2,793 | +3.5% |
| Amounts receivable within one year | 40/41 | €24,287 | €15,589 | -€8,698 | -35.8% |
| Trade receivables | 40 | €15,950 | €65 | -€15,886 | -99.6% |
| Other amounts receivable | 41 | €8,337 | €15,524 | +€7,187 | +86.2% |
| Current investments | 50/53 | €20,044 | €20,175 | +€131 | +0.7% |
| Cash at bank and in hand | 54/58 | €32,215 | €44,358 | +€12,143 | +37.7% |
| Deferred charges and accrued income | 490/1 | €2,644 | €1,862 | -€782 | -29.6% |
| Total equity and liabilities | 10/49 | €531,062 | €633,214 | +€102,151 | +19.2% |
| Equity | 10/15 | €87,632 | €322,735 | +€235,104 | +268.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,385 | €43,485 | +€42,100 | +3040.6% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €1,385 | €1,385 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,247 | €276,251 | +€193,004 | +231.8% |
| Amounts payable | 17/49 | €443,430 | €310,478 | -€132,952 | -30.0% |
| Amounts payable after more than one year | 17 | €400,000 | €140,000 | -€260,000 | -65.0% |
| Financial debts | 170/4 | €400,000 | €140,000 | -€260,000 | -65.0% |
| Amounts payable within one year | 42/48 | €43,019 | €157,932 | +€114,913 | +267.1% |
| Trade debts | 44 | €1,615 | €815 | -€800 | -49.5% |
| Suppliers | 440/4 | €1,615 | €815 | -€800 | -49.5% |
| Taxes, remuneration and social security | 45 | €41,404 | €18,718 | -€22,687 | -54.8% |
| Taxes | 450/3 | €41,404 | €18,718 | -€22,687 | -54.8% |
| Other amounts payable | 47/48 | €0 | €138,400 | +€138,400 | |
| Accrued charges and deferred income | 492/3 | €411 | €12,546 | +€12,135 | +2952.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €452 | €642 | +€189 | +41.9% |
| Other operating charges | 640/8 | €79 | €0 | -€79 | -100.0% |
| Gross operating margin | 9900 | €82,209 | €168,583 | +€86,374 | +105.1% |
| Operating profit (loss) | 9901 | €81,677 | €167,942 | +€86,264 | +105.6% |
| Financial income | 75/76B | €208 | €146,149 | +€145,942 | +70299.4% |
| Recurring financial income | 75 | €208 | €146,149 | +€145,942 | +70299.4% |
| Financial charges | 65/66B | €543 | €18,730 | +€18,186 | +3346.2% |
| Recurring financial charges | 65 | €543 | €18,730 | +€18,186 | +3346.2% |
| Profit (loss) for the period before taxes | 9903 | €81,342 | €295,361 | +€214,020 | +263.1% |
| Income taxes | 67/77 | €22,424 | €39,578 | +€17,154 | +76.5% |
| Profit (loss) for the period | 9904 | €58,918 | €255,784 | +€196,866 | +334.1% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,918 | €213,684 | +€154,766 | +262.7% |
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 28 September 2026 via checked.be.