NPF: 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.
NPF
Largest movements
- Receivables within one year -€25,040
down €25,040 (-33.1%), from €75,658 to €50,618
- Tangible fixed assets -€3,839
down €3,839 (-10.5%), from €36,558 to €32,719
of which Plant, machinery and equipment: -€3,424
- Deferred charges and accrued income -€3,742
down €3,742 (-33.0%), from €11,340 to €7,598
- Cash -€3,404
down €3,404 (-3.3%), from €104,594 to €101,191
mainly Contributions, distributions and other (-€162,243) and Short-term financial debts (-€19,312)
- Profit (loss) carried forward -€62,612
down €62,612 (-38.6%), from €162,243 to €99,631
- Other debts +€42,671
up €42,671 (+300.3%), from €14,210 to €56,881
- Short-term financial debts -€19,312
down €19,312 (-100.0%), from €19,312 to €0
- Tax, wage and social debts +€5,386
up €5,386 (+45.2%), from €11,922 to €17,308
- Gross operating margin +€25,895
up €25,895 (+22.8%), from €113,450 to €139,345
- Taxes +€7,160
up €7,160 (+31.2%), from €22,941 to €30,101
- Depreciation -€3,526
down €3,526 (-21.1%), from €16,678 to €13,153
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 | €253,151 | €217,126 | -€36,025 | -14.2% |
| Fixed assets | 21/28 | €36,558 | €32,719 | -€3,839 | -10.5% |
| Tangible fixed assets | 22/27 | €36,558 | €32,719 | -€3,839 | -10.5% |
| Plant, machinery and equipment | 23 | €5,453 | €2,030 | -€3,424 | -62.8% |
| Furniture and vehicles | 24 | €9,883 | €11,839 | +€1,957 | +19.8% |
| Other tangible fixed assets | 26 | €21,222 | €18,850 | -€2,372 | -11.2% |
| Current assets | 29/58 | €216,593 | €184,406 | -€32,186 | -14.9% |
| Amounts receivable within one year | 40/41 | €75,658 | €50,618 | -€25,040 | -33.1% |
| Other amounts receivable | 41 | €75,658 | €50,618 | -€25,040 | -33.1% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,594 | €101,191 | -€3,404 | -3.3% |
| Deferred charges and accrued income | 490/1 | €11,340 | €7,598 | -€3,742 | -33.0% |
| Total equity and liabilities | 10/49 | €253,151 | €217,126 | -€36,025 | -14.2% |
| Equity | 10/15 | €201,453 | €138,841 | -€62,612 | -31.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,243 | €99,631 | -€62,612 | -38.6% |
| Amounts payable | 17/49 | €51,698 | €78,285 | +€26,586 | +51.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €48,698 | €75,285 | +€26,586 | +54.6% |
| Financial debts | 43 | €19,312 | €0 | -€19,312 | -100.0% |
| Credit institutions | 430/8 | €19,312 | €0 | -€19,312 | -100.0% |
| Trade debts | 44 | €3,254 | €1,096 | -€2,158 | -66.3% |
| Suppliers | 440/4 | €3,254 | €1,096 | -€2,158 | -66.3% |
| Taxes, remuneration and social security | 45 | €11,922 | €17,308 | +€5,386 | +45.2% |
| Taxes | 450/3 | €11,922 | €17,308 | +€5,386 | +45.2% |
| Other amounts payable | 47/48 | €14,210 | €56,881 | +€42,671 | +300.3% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,678 | €13,153 | -€3,526 | -21.1% |
| Other operating charges | 640/8 | €953 | €1,475 | +€522 | +54.7% |
| Non-recurring operating charges | 66A | €685 | €0 | -€685 | -100.0% |
| Gross operating margin | 9900 | €113,450 | €139,345 | +€25,895 | +22.8% |
| Operating profit (loss) | 9901 | €95,133 | €124,716 | +€29,583 | +31.1% |
| Financial income | 75/76B | €5,897 | €5,145 | -€753 | -12.8% |
| Recurring financial income | 75 | €5,897 | €5,145 | -€753 | -12.8% |
| Financial charges | 65/66B | €358 | €129 | -€229 | -64.1% |
| Recurring financial charges | 65 | €358 | €129 | -€229 | -64.1% |
| Profit (loss) for the period before taxes | 9903 | €100,673 | €129,732 | +€29,060 | +28.9% |
| Income taxes | 67/77 | €22,941 | €30,101 | +€7,160 | +31.2% |
| Profit (loss) for the period | 9904 | €77,731 | €99,631 | +€21,900 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77,731 | €99,631 | +€21,900 | +28.2% |
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 8 October 2026 via checked.be.