NO.M: 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.
What changed
NO.M
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€287,177
2024 · €93,253-€380,430
Equity
€10.1m
2024 · €10.4m-€287,177
Cash
€400,465
2024 · €410,285-€9,820
Balance sheet total
€10.1m
2024 · €10.4m-€257,291
Largest movements
Assets
- Tangible fixed assets -€335,349
down €335,349 (-3.4%), from €10.0m to €9.6m
of which Land and buildings: -€351,206
Equity and liabilities
- Profit (loss) carried forward -€287,177
down €287,177 (-4.6%), from -€6.2m to -€6.5m
Income statement
- Gross operating margin -€359,178
down €359,178 (-64.6%), from €555,668 to €196,489
- Other operating charges +€16,804
up €16,804 (+93.1%), from €18,049 to €34,852
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.
Result 2024
€93,253
Gross operating margin
-€359,178
Staff costs
-€2,954
Depreciation
+€2,525
Other operating charges
-€16,804
Financial income
-€1,492
Financial charges
-€2,945
Taxes
+€416
Result 2025
-€287,177
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.
From operations
+€42,053
Investment
-€51,873
Financing
€0
Cash 2024
€410,285
From operations (derived)
+€42,053
Net result for the year
-€287,177
Depreciation
+€387,221
Receivables within one year
-€51,959
Deferred charges and accrued income
-€35,918
Trade debts
+€22,823
Tax, wage and social debts
+€7,063
Investment (derived)
-€51,873
Investment in fixed assets (net)
-€51,873
Cash 2025
€400,465
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,394,087 | €10,136,796 | -€257,291 | -2.5% |
| Fixed assets | 21/28 | €9,979,416 | €9,644,068 | -€335,349 | -3.4% |
| Tangible fixed assets | 22/27 | €9,978,966 | €9,643,618 | -€335,349 | -3.4% |
| Land and buildings | 22 | €9,975,506 | €9,624,301 | -€351,206 | -3.5% |
| Plant, machinery and equipment | 23 | €2,515 | €18,765 | +€16,249 | +646.0% |
| Furniture and vehicles | 24 | €945 | €552 | -€392 | -41.5% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €414,671 | €492,729 | +€78,058 | +18.8% |
| Amounts receivable within one year | 40/41 | €2,350 | €54,309 | +€51,959 | +2211.0% |
| Trade receivables | 40 | - | €6,050 | +€6,050 | |
| Other amounts receivable | 41 | €2,350 | €48,259 | +€45,909 | +1953.5% |
| Cash at bank and in hand | 54/58 | €410,285 | €400,465 | -€9,820 | -2.4% |
| Deferred charges and accrued income | 490/1 | €2,035 | €37,954 | +€35,918 | +1764.7% |
| Total equity and liabilities | 10/49 | €10,394,087 | €10,136,796 | -€257,291 | -2.5% |
| Equity | 10/15 | €10,357,756 | €10,070,579 | -€287,177 | -2.8% |
| Contributions | 10/11 | €16,575,476 | €16,575,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,217,720 | -€6,504,897 | -€287,177 | -4.6% |
| Amounts payable | 17/49 | €36,331 | €66,217 | +€29,886 | +82.3% |
| Amounts payable within one year | 42/48 | €36,331 | €66,217 | +€29,886 | +82.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,203 | €33,026 | +€22,823 | +223.7% |
| Suppliers | 440/4 | €10,203 | €33,026 | +€22,823 | +223.7% |
| Taxes, remuneration and social security | 45 | €26,128 | €33,191 | +€7,063 | +27.0% |
| Taxes | 450/3 | €19,742 | €30,150 | +€10,408 | +52.7% |
| Remuneration and social security | 454/9 | €6,387 | €3,041 | -€3,345 | -52.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €443,239 | €31,000 | -€412,239 | -93.0% |
| Remuneration, social security and pensions | 62 | €53,608 | €56,562 | +€2,954 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €389,747 | €387,221 | -€2,525 | -0.6% |
| Other operating charges | 640/8 | €18,049 | €34,852 | +€16,804 | +93.1% |
| Gross operating margin | 9900 | €555,668 | €196,489 | -€359,178 | -64.6% |
| Operating profit (loss) | 9901 | €94,264 | -€282,146 | -€376,410 | |
| Financial income | 75/76B | €1,492 | €0 | -€1,492 | -100.0% |
| Recurring financial income | 75 | €1,492 | €0 | -€1,492 | -100.0% |
| Financial charges | 65/66B | €426 | €3,371 | +€2,945 | +691.5% |
| Recurring financial charges | 65 | €426 | €3,371 | +€2,945 | +691.5% |
| Profit (loss) for the period before taxes | 9903 | €95,329 | -€285,517 | -€380,847 | |
| Income taxes | 67/77 | €2,076 | €1,660 | -€416 | -20.0% |
| Profit (loss) for the period | 9904 | €93,253 | -€287,177 | -€380,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,253 | -€287,177 | -€380,430 |
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.