North Hill: 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.
North Hill
Largest movements
- Receivables within one year +€97,923
up €97,923 (+83.4%), from €117,381 to €215,304
of which Trade receivables: +€92,475
- Receivables after one year +€33,770
new in 2025: €33,770
- Cash -€12,628
down €12,628 (-99.6%), from €12,673 to €45
mainly Receivables within one year (-€97,923) and Contributions, distributions and other (-€57,593)
- Tangible fixed assets -€2,594
down €2,594 (-97.9%), from €2,648 to €55
- Other debts +€57,593
new in 2025: €57,593
- Trade debts +€52,256
up €52,256 (+84.6%), from €61,749 to €114,005
- Short-term financial debts +€37,588
new in 2025: €37,588
- Reserves -€35,873
down €35,873 (-100%), from €35,873 to €0
- Tax, wage and social debts +€4,719
up €4,719 (+17.1%), from €27,534 to €32,253
- Other operating charges -€7,496
down €7,496 (-79.0%), from €9,484 to €1,988
- Financial income +€2,369
up €2,369 (+121%), from €1,956 to €4,324
- Gross operating margin -€2,341
down €2,341 (-6.1%), from €38,515 to €36,174
- Depreciation -€561
down €561 (-17.8%), from €3,155 to €2,594
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.
Derived cash bridge
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 | €135,155 | €251,439 | +€116,283 | +86.0% |
| Fixed assets | 21/28 | €3,083 | €490 | -€2,594 | -84.1% |
| Tangible fixed assets | 22/27 | €2,648 | €55 | -€2,594 | -97.9% |
| Furniture and vehicles | 24 | €2,648 | €55 | -€2,594 | -97.9% |
| Financial fixed assets | 28 | €435 | €435 | = | 0.0% |
| Current assets | 29/58 | €132,072 | €250,949 | +€118,877 | +90.0% |
| Amounts receivable after more than one year | 29 | - | €33,770 | +€33,770 | |
| Other amounts receivable | 291 | - | €33,770 | +€33,770 | |
| Amounts receivable within one year | 40/41 | €117,381 | €215,304 | +€97,923 | +83.4% |
| Trade receivables | 40 | €81,495 | €173,970 | +€92,475 | +113% |
| Other amounts receivable | 41 | €35,885 | €41,334 | +€5,448 | +15.2% |
| Cash at bank and in hand | 54/58 | €12,673 | €45 | -€12,628 | -99.6% |
| Deferred charges and accrued income | 490/1 | €2,019 | €1,830 | -€189 | -9.3% |
| Total equity and liabilities | 10/49 | €135,155 | €251,439 | +€116,283 | +86.0% |
| Equity | 10/15 | €45,873 | €10,000 | -€35,873 | -78.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €35,873 | €0 | -€35,873 | -100% |
| Distributable reserves | 133 | €35,873 | €0 | -€35,873 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €89,283 | €241,439 | +€152,156 | +170% |
| Amounts payable within one year | 42/48 | €89,283 | €241,439 | +€152,156 | +170% |
| Financial debts | 43 | - | €37,588 | +€37,588 | |
| Credit institutions | 430/8 | - | €37,588 | +€37,588 | |
| Trade debts | 44 | €61,749 | €114,005 | +€52,256 | +84.6% |
| Suppliers | 440/4 | €61,749 | €114,005 | +€52,256 | +84.6% |
| Taxes, remuneration and social security | 45 | €27,534 | €32,253 | +€4,719 | +17.1% |
| Taxes | 450/3 | €27,534 | €32,253 | +€4,719 | +17.1% |
| Other amounts payable | 47/48 | - | €57,593 | +€57,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,155 | €2,594 | -€561 | -17.8% |
| Other operating charges | 640/8 | €9,484 | €1,988 | -€7,496 | -79.0% |
| Gross operating margin | 9900 | €38,515 | €36,174 | -€2,341 | -6.1% |
| Operating profit (loss) | 9901 | €25,876 | €31,592 | +€5,716 | +22.1% |
| Financial income | 75/76B | €1,956 | €4,324 | +€2,369 | +121% |
| Recurring financial income | 75 | €1,956 | €4,324 | +€2,369 | +121% |
| Financial charges | 65/66B | €5,849 | €6,052 | +€202 | +3.5% |
| Recurring financial charges | 65 | €5,849 | €6,052 | +€202 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €21,983 | €29,865 | +€7,882 | +35.9% |
| Income taxes | 67/77 | €8,378 | €8,145 | -€233 | -2.8% |
| Profit (loss) for the period | 9904 | €13,605 | €21,720 | +€8,115 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €21,720 | +€8,115 | +59.6% |
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 15 October 2026 via checked.be.