NP 44: 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.
NP 44
Largest movements
- Tangible fixed assets -€22,134
down €22,134 (-97.4%), from €22,721 to €587
- Deferred charges and accrued income -€5,253
down €5,253 (-19.9%), from €26,403 to €21,149
- Cash -€2,765
down €2,765 (-55.2%), from €5,007 to €2,242
mainly Trade debts (-€26,815) and Current portion of long-term debt (-€9,526)
- Receivables within one year +€1,377
up €1,377 (+11.9%), from €11,583 to €12,960
of which Other amounts receivable: +€7,783
- Trade debts -€26,815
down €26,815 (-89.0%), from €30,121 to €3,306
- Current portion of long-term debt -€9,526
down €9,526 (-84.9%), from €11,227 to €1,700
- Reserves +€9,051
up €9,051 (+262.9%), from €3,443 to €12,494
- Other debts -€3,560
down €3,560 (-100.0%), from €3,560 to €0
- Tax, wage and social debts +€2,936
up €2,936 (+18.9%), from €15,502 to €18,438
of which Taxes: +€4,436
- Gross operating margin -€12,381
down €12,381 (-32.4%), from €38,203 to €25,822
- Write-downs -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Depreciation -€7,039
down €7,039 (-91.5%), from €7,694 to €655
- Taxes +€1,453
up €1,453 (+26.9%), from €5,411 to €6,864
- Financial charges -€549
down €549 (-37.5%), from €1,462 to €914
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 | €65,714 | €36,938 | -€28,775 | -43.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €22,721 | €587 | -€22,134 | -97.4% |
| Tangible fixed assets | 22/27 | €22,721 | €587 | -€22,134 | -97.4% |
| Furniture and vehicles | 24 | €22,721 | €587 | -€22,134 | -97.4% |
| Current assets | 29/58 | €42,993 | €36,351 | -€6,641 | -15.4% |
| Amounts receivable within one year | 40/41 | €11,583 | €12,960 | +€1,377 | +11.9% |
| Trade receivables | 40 | €11,583 | €5,177 | -€6,406 | -55.3% |
| Other amounts receivable | 41 | - | €7,783 | +€7,783 | |
| Cash at bank and in hand | 54/58 | €5,007 | €2,242 | -€2,765 | -55.2% |
| Deferred charges and accrued income | 490/1 | €26,403 | €21,149 | -€5,253 | -19.9% |
| Total equity and liabilities | 10/49 | €65,714 | €36,938 | -€28,775 | -43.8% |
| Equity | 10/15 | €4,443 | €13,494 | +€9,051 | +203.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €3,443 | €12,494 | +€9,051 | +262.9% |
| Distributable reserves | 133 | €3,443 | €12,494 | +€9,051 | +262.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,270 | €23,444 | -€37,826 | -61.7% |
| Amounts payable after more than one year | 17 | €861 | €0 | -€861 | -100.0% |
| Financial debts | 170/4 | €861 | €0 | -€861 | -100.0% |
| Amounts payable within one year | 42/48 | €60,409 | €23,444 | -€36,965 | -61.2% |
| Current portion of amounts payable after more than one year | 42 | €11,227 | €1,700 | -€9,526 | -84.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,121 | €3,306 | -€26,815 | -89.0% |
| Suppliers | 440/4 | €30,121 | €3,306 | -€26,815 | -89.0% |
| Taxes, remuneration and social security | 45 | €15,502 | €18,438 | +€2,936 | +18.9% |
| Taxes | 450/3 | €14,002 | €18,438 | +€4,436 | +31.7% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €3,560 | €0 | -€3,560 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,694 | €655 | -€7,039 | -91.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | €0 | -€10,000 | -100.0% |
| Other operating charges | 640/8 | €1,431 | €1,136 | -€294 | -20.6% |
| Non-recurring operating charges | 66A | - | €7,430 | +€7,430 | |
| Gross operating margin | 9900 | €38,203 | €25,822 | -€12,381 | -32.4% |
| Operating profit (loss) | 9901 | €19,078 | €16,601 | -€2,477 | -13.0% |
| Financial income | 75/76B | €2 | €227 | +€226 | +12536.1% |
| Recurring financial income | 75 | €2 | €227 | +€226 | +12536.1% |
| Financial charges | 65/66B | €1,462 | €914 | -€549 | -37.5% |
| Recurring financial charges | 65 | €1,462 | €914 | -€549 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €17,618 | €15,915 | -€1,703 | -9.7% |
| Income taxes | 67/77 | €5,411 | €6,864 | +€1,453 | +26.9% |
| Profit (loss) for the period | 9904 | €12,207 | €9,051 | -€3,156 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,207 | €9,051 | -€3,156 | -25.9% |
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 9 October 2026 via checked.be.