NR TRADING: 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.
NR TRADING
Largest movements
- Receivables within one year +€860,762
up €860,762 (+453%), from €190,174 to €1.1m
of which Trade receivables: +€861,350
- Cash +€658,376
up €658,376 (+201%), from €328,269 to €986,645
mainly Trade debts (+€2.1m) and Net result for the year (+€75,123)
- Stocks and contracts +€491,930
up €491,930 (+21.2%), from €2.3m to €2.8m
- Trade debts +€2.1m
up €2.1m (+110%), from €1.9m to €3.9m
- Tax, wage and social debts -€102,667
down €102,667 (-45.7%), from €224,478 to €121,811
of which Taxes: -€89,900
- Profit (loss) carried forward +€75,123
up €75,123 (+10.1%), from €746,478 to €821,600
- Financial charges -€662,886
down €662,886 (-89.0%), from €744,547 to €81,661
- Financial income -€639,515
down €639,515 (-88.9%), from €719,367 to €79,852
- Gross operating margin -€359,798
down €359,798 (-54.2%), from €663,589 to €303,792
- Staff costs -€77,485
down €77,485 (-27.6%), from €280,700 to €203,215
- Taxes -€76,573
down €76,573 (-84.5%), from €90,580 to €14,006
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.
Derived cash bridge
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 | €2,856,308 | €4,893,598 | +€2.0m | +71.3% |
| Fixed assets | 21/28 | €16,900 | €40,510 | +€23,610 | +140% |
| Tangible fixed assets | 22/27 | €16,450 | €34,660 | +€18,210 | +111% |
| Furniture and vehicles | 24 | €16,450 | €34,660 | +€18,210 | +111% |
| Financial fixed assets | 28 | €450 | €5,850 | +€5,400 | +1,200% |
| Current assets | 29/58 | €2,839,408 | €4,853,088 | +€2.0m | +70.9% |
| Stocks and contracts in progress | 3 | €2,320,524 | €2,812,454 | +€491,930 | +21.2% |
| Stocks | 30/36 | €2,320,524 | €2,812,454 | +€491,930 | +21.2% |
| Amounts receivable within one year | 40/41 | €190,174 | €1,050,937 | +€860,762 | +453% |
| Trade receivables | 40 | €187,350 | €1,048,700 | +€861,350 | +460% |
| Other amounts receivable | 41 | €2,824 | €2,237 | -€588 | -20.8% |
| Cash at bank and in hand | 54/58 | €328,269 | €986,645 | +€658,376 | +201% |
| Deferred charges and accrued income | 490/1 | €441 | €3,052 | +€2,612 | +593% |
| Total equity and liabilities | 10/49 | €2,856,308 | €4,893,598 | +€2.0m | +71.3% |
| Equity | 10/15 | €752,381 | €827,503 | +€75,123 | +10.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €903 | €903 | = | 0.0% |
| Non-distributable reserves | 130/1 | €903 | €903 | = | 0.0% |
| Reserves not available under the articles | 1311 | €903 | €903 | = | 0.0% |
| Profit (loss) carried forward | 14 | €746,478 | €821,600 | +€75,123 | +10.1% |
| Amounts payable | 17/49 | €2,103,927 | €4,066,095 | +€2.0m | +93.3% |
| Amounts payable within one year | 42/48 | €2,103,927 | €4,066,095 | +€2.0m | +93.3% |
| Trade debts | 44 | €1,876,123 | €3,937,317 | +€2.1m | +110% |
| Suppliers | 440/4 | €1,876,123 | €3,937,317 | +€2.1m | +110% |
| Taxes, remuneration and social security | 45 | €224,478 | €121,811 | -€102,667 | -45.7% |
| Taxes | 450/3 | €194,175 | €104,274 | -€89,900 | -46.3% |
| Remuneration and social security | 454/9 | €30,304 | €17,536 | -€12,767 | -42.1% |
| Other amounts payable | 47/48 | €3,325 | €6,967 | +€3,641 | +109% |
| Remuneration, social security and pensions | 62 | €280,700 | €203,215 | -€77,485 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,268 | €5,211 | +€1,943 | +59.4% |
| Other operating charges | 640/8 | €2,703 | €4,428 | +€1,725 | +63.8% |
| Gross operating margin | 9900 | €663,589 | €303,792 | -€359,798 | -54.2% |
| Operating profit (loss) | 9901 | €376,918 | €90,938 | -€285,980 | -75.9% |
| Financial income | 75/76B | €719,367 | €79,852 | -€639,515 | -88.9% |
| Recurring financial income | 75 | €719,367 | €79,852 | -€639,515 | -88.9% |
| Financial charges | 65/66B | €744,547 | €81,661 | -€662,886 | -89.0% |
| Recurring financial charges | 65 | €744,547 | €81,661 | -€662,886 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €351,738 | €89,129 | -€262,609 | -74.7% |
| Income taxes | 67/77 | €90,580 | €14,006 | -€76,573 | -84.5% |
| Profit (loss) for the period | 9904 | €261,158 | €75,123 | -€186,036 | -71.2% |
| Profit (loss) for the period to be appropriated | 9905 | €261,158 | €75,123 | -€186,036 | -71.2% |
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 18 October 2026 via checked.be.