NP-S: 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.
NP-S
Largest movements
- Tangible fixed assets +€126,034
up €126,034 (+137.9%), from €91,375 to €217,409
of which Leasing and similar rights: +€145,015
- Cash +€17,936
up €17,936 (+10.6%), from €169,952 to €187,888
mainly Net result for the year (+€98,095) and Debts after one year (+€46,454)
- Receivables within one year +€10,970
up €10,970 (+22.5%), from €48,757 to €59,726
of which Trade receivables: +€19,844
- Stocks and contracts +€9,500
up €9,500, from €0 to €9,500
- Reserves +€98,095
up €98,095 (+65.5%), from €149,722 to €247,817
of which Tax-exempt reserves: +€53,805
- Debts after one year +€46,454
up €46,454 (+91.5%), from €50,785 to €97,239
- Provisions +€13,451
new in 2025: €13,451
- Gross operating margin +€96,675
up €96,675 (+124.7%), from €77,556 to €174,231
- Financial charges +€5,334
up €5,334 (+163.4%), from €3,264 to €8,598
- Taxes +€4,280
up €4,280 (+167.7%), from €2,552 to €6,832
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 | €332,375 | €492,563 | +€160,189 | +48.2% |
| Fixed assets | 21/28 | €91,375 | €217,409 | +€126,034 | +137.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €91,375 | €217,409 | +€126,034 | +137.9% |
| Land and buildings | 22 | €8,455 | €6,728 | -€1,728 | -20.4% |
| Plant, machinery and equipment | 23 | €59,106 | €43,615 | -€15,491 | -26.2% |
| Furniture and vehicles | 24 | €3,978 | €2,215 | -€1,763 | -44.3% |
| Leasing and similar rights | 25 | €19,836 | €164,851 | +€145,015 | +731.1% |
| Current assets | 29/58 | €240,999 | €275,154 | +€34,155 | +14.2% |
| Stocks and contracts in progress | 3 | €0 | €9,500 | +€9,500 | |
| Stocks | 30/36 | €0 | €9,500 | +€9,500 | |
| Amounts receivable within one year | 40/41 | €48,757 | €59,726 | +€10,970 | +22.5% |
| Trade receivables | 40 | €31,618 | €51,462 | +€19,844 | +62.8% |
| Other amounts receivable | 41 | €17,139 | €8,264 | -€8,875 | -51.8% |
| Cash at bank and in hand | 54/58 | €169,952 | €187,888 | +€17,936 | +10.6% |
| Deferred charges and accrued income | 490/1 | €22,291 | €18,040 | -€4,251 | -19.1% |
| Total equity and liabilities | 10/49 | €332,375 | €492,563 | +€160,189 | +48.2% |
| Equity | 10/15 | €168,322 | €266,417 | +€98,095 | +58.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,722 | €247,817 | +€98,095 | +65.5% |
| Tax-exempt reserves | 132 | - | €53,805 | +€53,805 | |
| Distributable reserves | 133 | €149,722 | €194,012 | +€44,290 | +29.6% |
| Provisions and deferred taxes | 16 | - | €13,451 | +€13,451 | |
| Deferred taxes | 168 | - | €13,451 | +€13,451 | |
| Amounts payable | 17/49 | €164,053 | €212,695 | +€48,643 | +29.7% |
| Amounts payable after more than one year | 17 | €50,785 | €97,239 | +€46,454 | +91.5% |
| Financial debts | 170/4 | €50,785 | €97,239 | +€46,454 | +91.5% |
| Amounts payable within one year | 42/48 | €113,267 | €115,456 | +€2,189 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €34,301 | €36,543 | +€2,242 | +6.5% |
| Trade debts | 44 | €10,352 | €11,880 | +€1,528 | +14.8% |
| Suppliers | 440/4 | €10,352 | €11,880 | +€1,528 | +14.8% |
| Taxes, remuneration and social security | 45 | €9,474 | €7,886 | -€1,588 | -16.8% |
| Taxes | 450/3 | €6 | €0 | -€6 | -100.0% |
| Remuneration and social security | 454/9 | €9,468 | €7,886 | -€1,582 | -16.7% |
| Other amounts payable | 47/48 | €59,141 | €59,147 | +€6 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,388 | €44,948 | -€1,440 | -3.1% |
| Other operating charges | 640/8 | €2,763 | €2,448 | -€314 | -11.4% |
| Non-recurring operating charges | 66A | €13,000 | €0 | -€13,000 | -100.0% |
| Gross operating margin | 9900 | €77,556 | €174,231 | +€96,675 | +124.7% |
| Operating profit (loss) | 9901 | €15,405 | €126,835 | +€111,430 | +723.3% |
| Financial income | 75/76B | €0 | €141 | +€141 | +78205.6% |
| Recurring financial income | 75 | €0 | €141 | +€141 | +78205.6% |
| Financial charges | 65/66B | €3,264 | €8,598 | +€5,334 | +163.4% |
| Recurring financial charges | 65 | €3,264 | €8,598 | +€5,334 | +163.4% |
| Profit (loss) for the period before taxes | 9903 | €12,141 | €118,378 | +€106,237 | +875.0% |
| Transfer from deferred taxes | 780 | - | €489 | +€489 | |
| Transfer to deferred taxes | 680 | - | €13,940 | +€13,940 | |
| Income taxes | 67/77 | €2,552 | €6,832 | +€4,280 | +167.7% |
| Profit (loss) for the period | 9904 | €9,589 | €98,095 | +€88,506 | +923.0% |
| Transfer from tax-exempt reserves | 789 | - | €1,955 | +€1,955 | |
| Transfer to tax-exempt reserves | 689 | - | €55,760 | +€55,760 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,589 | €44,290 | +€34,701 | +361.9% |
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.