NPM: 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.
NPM
Largest movements
- Receivables after one year +€22,235
up €22,235 (+59.3%), from €37,471 to €59,706
- Receivables within one year +€12,048
up €12,048 (+12.8%), from €94,491 to €106,539
of which Trade receivables: +€12,048
- Deferred charges and accrued income -€4,300
down €4,300 (-20.9%), from €20,546 to €16,245
- Reserves +€16,852
up €16,852 (+13.1%), from €128,978 to €145,830
- Tax, wage and social debts +€7,709
up €7,709 (+94.2%), from €8,183 to €15,893
of which Taxes: +€7,725
- Gross operating margin +€10,235
up €10,235 (+34.6%), from €29,614 to €39,849
- Taxes +€4,633
up €4,633 (+138.4%), from €3,348 to €7,981
- Staff costs +€1,041
up €1,041 (+30.4%), from €3,427 to €4,468
- Financial charges -€802
down €802 (-26.4%), from €3,037 to €2,235
- Financial income +€629
up €629 (+59.3%), from €1,060 to €1,690
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 | €207,378 | €235,378 | +€28,000 | +13.5% |
| Fixed assets | 21/28 | €53,041 | €51,855 | -€1,186 | -2.2% |
| Tangible fixed assets | 22/27 | €53,041 | €51,855 | -€1,186 | -2.2% |
| Land and buildings | 22 | €7,230 | €4,984 | -€2,246 | -31.1% |
| Furniture and vehicles | 24 | €2,301 | €2,404 | +€103 | +4.5% |
| Other tangible fixed assets | 26 | €43,510 | €44,468 | +€957 | +2.2% |
| Current assets | 29/58 | €154,337 | €183,523 | +€29,186 | +18.9% |
| Amounts receivable after more than one year | 29 | €37,471 | €59,706 | +€22,235 | +59.3% |
| Other amounts receivable | 291 | €37,471 | €59,706 | +€22,235 | +59.3% |
| Amounts receivable within one year | 40/41 | €94,491 | €106,539 | +€12,048 | +12.8% |
| Trade receivables | 40 | €94,491 | €106,539 | +€12,048 | +12.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,829 | €1,032 | -€797 | -43.6% |
| Deferred charges and accrued income | 490/1 | €20,546 | €16,245 | -€4,300 | -20.9% |
| Total equity and liabilities | 10/49 | €207,378 | €235,378 | +€28,000 | +13.5% |
| Equity | 10/15 | €151,133 | €167,985 | +€16,852 | +11.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €128,978 | €145,830 | +€16,852 | +13.1% |
| Distributable reserves | 133 | €128,978 | €145,830 | +€16,852 | +13.1% |
| Profit (loss) carried forward | 14 | €9,755 | €9,755 | = | 0.0% |
| Amounts payable | 17/49 | €56,245 | €67,393 | +€11,148 | +19.8% |
| Amounts payable after more than one year | 17 | €41,182 | €41,885 | +€703 | +1.7% |
| Financial debts | 170/4 | €41,182 | €41,885 | +€703 | +1.7% |
| Amounts payable within one year | 42/48 | €15,063 | €25,508 | +€10,445 | +69.3% |
| Current portion of amounts payable after more than one year | 42 | €4,922 | €6,486 | +€1,564 | +31.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,957 | €3,129 | +€1,172 | +59.9% |
| Suppliers | 440/4 | €1,957 | €3,129 | +€1,172 | +59.9% |
| Taxes, remuneration and social security | 45 | €8,183 | €15,893 | +€7,709 | +94.2% |
| Taxes | 450/3 | €8,061 | €15,786 | +€7,725 | +95.8% |
| Remuneration and social security | 454/9 | €122 | €107 | -€15 | -12.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,427 | €4,468 | +€1,041 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,992 | €9,339 | +€347 | +3.9% |
| Other operating charges | 640/8 | €201 | €664 | +€463 | +230.7% |
| Non-recurring operating charges | 66A | €5,880 | €0 | -€5,880 | -100.0% |
| Gross operating margin | 9900 | €29,614 | €39,849 | +€10,235 | +34.6% |
| Operating profit (loss) | 9901 | €11,114 | €25,378 | +€14,264 | +128.3% |
| Financial income | 75/76B | €1,060 | €1,690 | +€629 | +59.3% |
| Recurring financial income | 75 | €1,060 | €1,690 | +€629 | +59.3% |
| Financial charges | 65/66B | €3,037 | €2,235 | -€802 | -26.4% |
| Recurring financial charges | 65 | €3,037 | €2,235 | -€802 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €9,138 | €24,833 | +€15,695 | +171.8% |
| Income taxes | 67/77 | €3,348 | €7,981 | +€4,633 | +138.4% |
| Profit (loss) for the period | 9904 | €5,790 | €16,852 | +€11,062 | +191.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,790 | €16,852 | +€11,062 | +191.1% |
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 4 October 2026 via checked.be.