NRS for Change: 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.
NRS for Change
Largest movements
- Cash +€91,273
up €91,273 (+81.5%), from €112,031 to €203,304
mainly Net result for the year (+€68,056) and Receivables within one year (+€18,837)
- Receivables within one year -€18,837
down €18,837 (-31.8%), from €59,167 to €40,330
of which Trade receivables: -€19,776
- Reserves +€50,000
up €50,000 (+24.4%), from €205,160 to €255,160
of which Distributable reserves: +€50,000
- Profit (loss) carried forward +€13,056
up €13,056 (+6.8%), from €193,142 to €206,198
- Contributions +€12,400
new in 2025: €12,400
- Tax, wage and social debts -€7,204
down €7,204 (-35.8%), from €20,113 to €12,909
- Gross operating margin +€11,660
up €11,660 (+13.9%), from €83,662 to €95,322
- Taxes +€5,357
up €5,357 (+24.5%), from €21,909 to €27,265
- Financial income -€1,427
no longer reported in 2025 (was €1,427)
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 | €438,288 | €510,723 | +€72,436 | +16.5% |
| Fixed assets | 21/28 | €1,690 | €1,690 | = | 0.0% |
| Financial fixed assets | 28 | €1,690 | €1,690 | = | 0.0% |
| Current assets | 29/58 | €436,598 | €509,033 | +€72,436 | +16.6% |
| Amounts receivable after more than one year | 29 | €265,399 | €265,399 | = | 0.0% |
| Other amounts receivable | 291 | €265,399 | €265,399 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,167 | €40,330 | -€18,837 | -31.8% |
| Trade receivables | 40 | €47,616 | €27,840 | -€19,776 | -41.5% |
| Other amounts receivable | 41 | €11,551 | €12,490 | +€939 | +8.1% |
| Cash at bank and in hand | 54/58 | €112,031 | €203,304 | +€91,273 | +81.5% |
| Total equity and liabilities | 10/49 | €438,288 | €510,723 | +€72,436 | +16.5% |
| Equity | 10/15 | €398,302 | €473,758 | +€75,456 | +18.9% |
| Contributions | 10/11 | - | €12,400 | +€12,400 | |
| Contributions outside capital | 11 | - | €12,400 | +€12,400 | |
| Share premium | 1100/10 | - | €12,400 | +€12,400 | |
| Reserves | 13 | €205,160 | €255,160 | +€50,000 | +24.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,250 | €24,250 | = | 0.0% |
| Distributable reserves | 133 | €179,050 | €229,050 | +€50,000 | +27.9% |
| Profit (loss) carried forward | 14 | €193,142 | €206,198 | +€13,056 | +6.8% |
| Amounts payable | 17/49 | €39,986 | €36,965 | -€3,021 | -7.6% |
| Amounts payable within one year | 42/48 | €39,986 | €36,965 | -€3,021 | -7.6% |
| Trade debts | 44 | €350 | €1,082 | +€732 | +209% |
| Suppliers | 440/4 | €350 | €1,082 | +€732 | +209% |
| Advances received on contracts in progress | 46 | - | €4,296 | +€4,296 | |
| Taxes, remuneration and social security | 45 | €20,113 | €12,909 | -€7,204 | -35.8% |
| Taxes | 450/3 | €20,113 | €12,909 | -€7,204 | -35.8% |
| Other amounts payable | 47/48 | €19,523 | €18,679 | -€844 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | - | -€61 | |
| Other operating charges | 640/8 | €406 | - | -€406 | |
| Gross operating margin | 9900 | €83,662 | €95,322 | +€11,660 | +13.9% |
| Operating profit (loss) | 9901 | €83,195 | €95,322 | +€12,126 | +14.6% |
| Financial income | 75/76B | €1,427 | - | -€1,427 | |
| Recurring financial income | 75 | €1,427 | - | -€1,427 | |
| Profit (loss) for the period before taxes | 9903 | €84,623 | €95,322 | +€10,699 | +12.6% |
| Income taxes | 67/77 | €21,909 | €27,265 | +€5,357 | +24.5% |
| Profit (loss) for the period | 9904 | €62,714 | €68,056 | +€5,342 | +8.5% |
| Transfer to tax-exempt reserves | 689 | - | €55,000 | +€55,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,714 | €13,056 | -€49,658 | -79.2% |
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 29 October 2026 via checked.be.