NO2: what changed
Two financial 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.
NO2
Largest movements
- Receivables within one year -€16,093
no longer reported in 2025 (was €16,093)
- Cash -€15,450
down €15,450 (-14.8%), from €104,716 to €89,266
mainly Contributions, distributions and other (-€24,570) and Other debts (-€21,616)
- Other debts -€21,616
down €21,616 (-50.9%), from €42,500 to €20,885
- Debts after one year -€5,555
down €5,555 (-81.4%), from €6,825 to €1,270
- Tax, wage and social debts -€4,444
down €4,444 (-18.2%), from €24,382 to €19,938
of which Taxes: -€4,422
- Gross operating margin -€14,150
down €14,150 (-26.3%), from €53,811 to €39,661
- Taxes -€2,514
down €2,514 (-22.0%), from €11,418 to €8,905
- Depreciation +€1,993
up €1,993 (+60.1%), from €3,316 to €5,308
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 | €134,719 | €103,420 | -€31,299 | -23.2% |
| Fixed assets | 21/28 | €13,458 | €13,549 | +€91 | +0.7% |
| Tangible fixed assets | 22/27 | €13,458 | €13,549 | +€91 | +0.7% |
| Plant, machinery and equipment | 23 | €3,232 | €4,100 | +€868 | +26.9% |
| Furniture and vehicles | 24 | €10,226 | €9,449 | -€777 | -7.6% |
| Current assets | 29/58 | €121,261 | €89,871 | -€31,389 | -25.9% |
| Amounts receivable within one year | 40/41 | €16,093 | - | -€16,093 | |
| Trade receivables | 40 | €16,093 | - | -€16,093 | |
| Cash at bank and in hand | 54/58 | €104,716 | €89,266 | -€15,450 | -14.8% |
| Deferred charges and accrued income | 490/1 | €452 | €605 | +€153 | +34.0% |
| Total equity and liabilities | 10/49 | €134,719 | €103,420 | -€31,299 | -23.2% |
| Equity | 10/15 | €58,239 | €58,242 | +€3 | 0.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €56,739 | €56,742 | +€3 | 0.0% |
| Distributable reserves | 133 | €56,739 | €56,742 | +€3 | 0.0% |
| Amounts payable | 17/49 | €76,480 | €45,178 | -€31,302 | -40.9% |
| Amounts payable after more than one year | 17 | €6,825 | €1,270 | -€5,555 | -81.4% |
| Other amounts payable | 178/9 | €6,825 | €1,270 | -€5,555 | -81.4% |
| Amounts payable within one year | 42/48 | €68,701 | €43,908 | -€24,793 | -36.1% |
| Trade debts | 44 | €1,819 | €3,085 | +€1,266 | +69.6% |
| Suppliers | 440/4 | €1,819 | €3,085 | +€1,266 | +69.6% |
| Taxes, remuneration and social security | 45 | €24,382 | €19,938 | -€4,444 | -18.2% |
| Taxes | 450/3 | €24,360 | €19,938 | -€4,422 | -18.2% |
| Remuneration and social security | 454/9 | €22 | - | -€22 | |
| Other amounts payable | 47/48 | €42,500 | €20,885 | -€21,616 | -50.9% |
| Accrued charges and deferred income | 492/3 | €954 | - | -€954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,316 | €5,308 | +€1,993 | +60.1% |
| Other operating charges | 640/8 | €555 | €548 | -€8 | -1.4% |
| Non-recurring operating charges | 66A | €256 | - | -€256 | |
| Gross operating margin | 9900 | €53,811 | €39,661 | -€14,150 | -26.3% |
| Operating profit (loss) | 9901 | €49,683 | €33,805 | -€15,878 | -32.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -79.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -79.8% |
| Financial charges | 65/66B | €365 | €327 | -€38 | -10.4% |
| Recurring financial charges | 65 | €365 | €327 | -€38 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €49,319 | €33,478 | -€15,841 | -32.1% |
| Income taxes | 67/77 | €11,418 | €8,905 | -€2,514 | -22.0% |
| Profit (loss) for the period | 9904 | €37,900 | €24,573 | -€13,327 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,900 | €24,573 | -€13,327 | -35.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.