NR10: 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.
NR10
Largest movements
- Receivables within one year +€54,860
up €54,860 (+29.2%), from €187,745 to €242,605
of which Trade receivables: +€36,143
- Debts after one year +€61,632
new in 2025: €61,632
- Other debts -€32,283
down €32,283 (-35.8%), from €90,180 to €57,897
- Current portion of long-term debt +€26,522
up €26,522 (+314%), from €8,443 to €34,965
- Gross operating margin -€104,410
down €104,410 (-99.0%), from €105,487 to €1,076
- Taxes -€26,804
down €26,804 (-95.4%), from €28,087 to €1,283
- Financial charges +€2,596
up €2,596 (+256%), from €1,013 to €3,609
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 | €458,013 | €515,821 | +€57,808 | +12.6% |
| Fixed assets | 21/28 | €252,087 | €251,739 | -€349 | -0.1% |
| Tangible fixed assets | 22/27 | €2,087 | €1,739 | -€349 | -16.7% |
| Furniture and vehicles | 24 | €2,087 | €1,739 | -€349 | -16.7% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €205,925 | €264,082 | +€58,157 | +28.2% |
| Amounts receivable within one year | 40/41 | €187,745 | €242,605 | +€54,860 | +29.2% |
| Trade receivables | 40 | €37,745 | €73,888 | +€36,143 | +95.8% |
| Other amounts receivable | 41 | €150,000 | €168,717 | +€18,717 | +12.5% |
| Cash at bank and in hand | 54/58 | €11,960 | €13,276 | +€1,316 | +11.0% |
| Deferred charges and accrued income | 490/1 | €6,220 | €8,201 | +€1,981 | +31.8% |
| Total equity and liabilities | 10/49 | €458,013 | €515,821 | +€57,808 | +12.6% |
| Equity | 10/15 | €342,398 | €342,508 | +€110 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,938 | €322,048 | +€110 | 0.0% |
| Amounts payable | 17/49 | €115,615 | €173,313 | +€57,699 | +49.9% |
| Amounts payable after more than one year | 17 | - | €61,632 | +€61,632 | |
| Financial debts | 170/4 | - | €61,632 | +€61,632 | |
| Amounts payable within one year | 42/48 | €115,615 | €111,681 | -€3,933 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €8,443 | €34,965 | +€26,522 | +314% |
| Trade debts | 44 | €1,795 | €1,855 | +€60 | +3.4% |
| Suppliers | 440/4 | €1,795 | €1,855 | +€60 | +3.4% |
| Taxes, remuneration and social security | 45 | €15,197 | €16,965 | +€1,768 | +11.6% |
| Taxes | 450/3 | €15,197 | €16,965 | +€1,768 | +11.6% |
| Other amounts payable | 47/48 | €90,180 | €57,897 | -€32,283 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,111 | €1,201 | +€90 | +8.1% |
| Other operating charges | 640/8 | €848 | €874 | +€27 | +3.1% |
| Gross operating margin | 9900 | €105,487 | €1,076 | -€104,410 | -99.0% |
| Operating profit (loss) | 9901 | €103,528 | -€999 | -€104,527 | |
| Financial income | 75/76B | €6,000 | €6,000 | = | 0.0% |
| Recurring financial income | 75 | €6,000 | €6,000 | = | 0.0% |
| Financial charges | 65/66B | €1,013 | €3,609 | +€2,596 | +256% |
| Recurring financial charges | 65 | €1,013 | €3,609 | +€2,596 | +256% |
| Profit (loss) for the period before taxes | 9903 | €108,515 | €1,393 | -€107,123 | -98.7% |
| Income taxes | 67/77 | €28,087 | €1,283 | -€26,804 | -95.4% |
| Profit (loss) for the period | 9904 | €80,428 | €110 | -€80,318 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,428 | €110 | -€80,318 | -99.9% |
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 17 October 2026 via checked.be.