NOSTRUM: 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.
NOSTRUM
Largest movements
- Receivables within one year +€192,382
up €192,382 (+72.8%), from €264,436 to €456,818
of which Trade receivables: +€139,728
- Cash +€19,326
up €19,326 (+35.3%), from €54,798 to €74,125
mainly Trade debts (+€82,766) and Accrued charges and deferred income (+€50,271)
- Trade debts +€82,766
up €82,766 (+75.4%), from €109,750 to €192,516
- Accrued charges and deferred income +€50,271
new in 2025: €50,271
- Profit (loss) carried forward +€40,885
up €40,885 (+50.7%), from €80,663 to €121,548
- Tax, wage and social debts +€30,345
up €30,345 (+550.4%), from €5,514 to €35,859
of which Taxes: +€31,857
- Staff costs +€88,886
up €88,886 (+71.7%), from €123,922 to €212,807
- Gross operating margin +€72,467
up €72,467 (+34.6%), from €209,665 to €282,131
- Taxes -€3,059
down €3,059 (-17.6%), from €17,344 to €14,285
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 | €328,224 | €534,633 | +€206,409 | +62.9% |
| Fixed assets | 21/28 | €465 | €124 | -€341 | -73.4% |
| Tangible fixed assets | 22/27 | €341 | - | -€341 | |
| Plant, machinery and equipment | 23 | €341 | - | -€341 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €327,758 | €534,509 | +€206,750 | +63.1% |
| Amounts receivable within one year | 40/41 | €264,436 | €456,818 | +€192,382 | +72.8% |
| Trade receivables | 40 | €153,006 | €292,734 | +€139,728 | +91.3% |
| Other amounts receivable | 41 | €111,430 | €164,084 | +€52,654 | +47.3% |
| Cash at bank and in hand | 54/58 | €54,798 | €74,125 | +€19,326 | +35.3% |
| Deferred charges and accrued income | 490/1 | €8,524 | €3,567 | -€4,958 | -58.2% |
| Total equity and liabilities | 10/49 | €328,224 | €534,633 | +€206,409 | +62.9% |
| Equity | 10/15 | €210,043 | €253,079 | +€43,036 | +20.5% |
| Contributions | 10/11 | €123,447 | €123,447 | = | 0.0% |
| Capital | 10 | €123,447 | €123,447 | = | 0.0% |
| Issued capital | 100 | €123,447 | €123,447 | = | 0.0% |
| Reserves | 13 | €5,933 | €8,085 | +€2,152 | +36.3% |
| Non-distributable reserves | 130/1 | €5,933 | €8,085 | +€2,152 | +36.3% |
| Legal reserve | 130 | €5,933 | €8,085 | +€2,152 | +36.3% |
| Profit (loss) carried forward | 14 | €80,663 | €121,548 | +€40,885 | +50.7% |
| Amounts payable | 17/49 | €118,181 | €281,553 | +€163,373 | +138.2% |
| Amounts payable within one year | 42/48 | €118,181 | €231,282 | +€113,101 | +95.7% |
| Current portion of amounts payable after more than one year | 42 | €2,917 | €2,907 | -€9 | -0.3% |
| Trade debts | 44 | €109,750 | €192,516 | +€82,766 | +75.4% |
| Suppliers | 440/4 | €109,750 | €192,516 | +€82,766 | +75.4% |
| Taxes, remuneration and social security | 45 | €5,514 | €35,859 | +€30,345 | +550.4% |
| Taxes | 450/3 | - | €31,857 | +€31,857 | |
| Remuneration and social security | 454/9 | €5,514 | €4,002 | -€1,512 | -27.4% |
| Accrued charges and deferred income | 492/3 | - | €50,271 | +€50,271 | |
| Remuneration, social security and pensions | 62 | €123,922 | €212,807 | +€88,886 | +71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,274 | €341 | -€933 | -73.2% |
| Other operating charges | 640/8 | €8,801 | €10,154 | +€1,353 | +15.4% |
| Gross operating margin | 9900 | €209,665 | €282,131 | +€72,467 | +34.6% |
| Operating profit (loss) | 9901 | €75,667 | €58,829 | -€16,839 | -22.3% |
| Financial income | 75/76B | €2,339 | €3,464 | +€1,124 | +48.0% |
| Recurring financial income | 75 | €2,339 | €3,464 | +€1,124 | +48.0% |
| Financial charges | 65/66B | €6,003 | €4,971 | -€1,032 | -17.2% |
| Recurring financial charges | 65 | €6,003 | €4,971 | -€1,032 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €72,004 | €57,321 | -€14,683 | -20.4% |
| Income taxes | 67/77 | €17,344 | €14,285 | -€3,059 | -17.6% |
| Profit (loss) for the period | 9904 | €54,660 | €43,036 | -€11,624 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,660 | €43,036 | -€11,624 | -21.3% |
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 29 September 2026 via checked.be.