NRAG CONSULT: 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.
NRAG CONSULT
Largest movements
- Cash -€43,368
down €43,368 (-26.7%), from €162,134 to €118,765
mainly Contributions, distributions and other (-€105,939) and Receivables within one year (-€24,761)
- Receivables within one year +€24,761
new in 2025: €24,761
- Tangible fixed assets -€11,438
down €11,438 (-34.7%), from €32,935 to €21,497
- Profit (loss) carried forward -€24,753
no longer reported in 2025 (was €24,753)
- Debts after one year -€5,360
down €5,360 (-51.4%), from €10,431 to €5,070
- Gross operating margin +€13,614
up €13,614 (+12.5%), from €108,566 to €122,180
- Taxes +€4,784
up €4,784 (+21.6%), from €22,174 to €26,958
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 | €200,317 | €168,498 | -€31,819 | -15.9% |
| Formation expenses | 20 | €619 | €394 | -€225 | -36.3% |
| Fixed assets | 21/28 | €32,935 | €21,497 | -€11,438 | -34.7% |
| Tangible fixed assets | 22/27 | €32,935 | €21,497 | -€11,438 | -34.7% |
| Furniture and vehicles | 24 | €32,935 | €21,497 | -€11,438 | -34.7% |
| Current assets | 29/58 | €166,763 | €146,607 | -€20,156 | -12.1% |
| Amounts receivable within one year | 40/41 | - | €24,761 | +€24,761 | |
| Other amounts receivable | 41 | - | €24,761 | +€24,761 | |
| Cash at bank and in hand | 54/58 | €162,134 | €118,765 | -€43,368 | -26.7% |
| Deferred charges and accrued income | 490/1 | €4,629 | €3,080 | -€1,549 | -33.5% |
| Total equity and liabilities | 10/49 | €200,317 | €168,498 | -€31,819 | -15.9% |
| Equity | 10/15 | €27,753 | €3,000 | -€24,753 | -89.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,753 | - | -€24,753 | |
| Amounts payable | 17/49 | €172,564 | €165,498 | -€7,066 | -4.1% |
| Amounts payable after more than one year | 17 | €10,431 | €5,070 | -€5,360 | -51.4% |
| Financial debts | 170/4 | €10,431 | €5,070 | -€5,360 | -51.4% |
| Amounts payable within one year | 42/48 | €162,134 | €160,428 | -€1,706 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €5,188 | €5,360 | +€173 | +3.3% |
| Trade debts | 44 | €2,018 | €479 | -€1,539 | -76.3% |
| Suppliers | 440/4 | €2,018 | €479 | -€1,539 | -76.3% |
| Taxes, remuneration and social security | 45 | €63,399 | €62,808 | -€592 | -0.9% |
| Taxes | 450/3 | €63,399 | €62,808 | -€592 | -0.9% |
| Other amounts payable | 47/48 | €91,529 | €91,781 | +€252 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,663 | €11,663 | = | 0.0% |
| Other operating charges | 640/8 | €1,702 | €1,709 | +€7 | +0.4% |
| Gross operating margin | 9900 | €108,566 | €122,180 | +€13,614 | +12.5% |
| Operating profit (loss) | 9901 | €95,201 | €108,809 | +€13,607 | +14.3% |
| Financial charges | 65/66B | €813 | €665 | -€148 | -18.2% |
| Recurring financial charges | 65 | €813 | €665 | -€148 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €94,388 | €108,144 | +€13,756 | +14.6% |
| Income taxes | 67/77 | €22,174 | €26,958 | +€4,784 | +21.6% |
| Profit (loss) for the period | 9904 | €72,214 | €81,186 | +€8,972 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,214 | €81,186 | +€8,972 | +12.4% |
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 20 October 2026 via checked.be.