NS CAPITAL: what changed
NS CAPITAL
Largest movements
- Tangible fixed assets -€21,530
down €21,530 (-21.5%), from €99,931 to €78,401
of which Furniture and vehicles: -€21,062
- Receivables within one year -€12,363
down €12,363 (-21.5%), from €57,398 to €45,036
of which Other amounts receivable: -€6,865
- Cash +€10,875
up €10,875 (+16.2%), from €67,306 to €78,181
mainly Depreciation (+€25,007) and Receivables within one year (+€12,363)
- Debts after one year -€13,777
down €13,777 (-38.7%), from €35,626 to €21,849
- Tax, wage and social debts -€6,678
down €6,678 (-47.4%), from €14,102 to €7,424
- Trade debts -€2,597
down €2,597 (-30.2%), from €8,608 to €6,011
- Gross operating margin -€5,702
down €5,702 (-16.4%), from €34,709 to €29,007
- Taxes -€1,450
down €1,450 (-76.2%), from €1,904 to €454
- Other operating charges +€760
up €760 (+85.1%), from €894 to €1,654
- Financial charges -€560
down €560 (-20.8%), from €2,690 to €2,130
- Depreciation -€476
down €476 (-1.9%), from €25,483 to €25,007
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,345 | €202,700 | -€22,644 | -10.0% |
| Fixed assets | 21/28 | €99,931 | €78,401 | -€21,530 | -21.5% |
| Tangible fixed assets | 22/27 | €99,931 | €78,401 | -€21,530 | -21.5% |
| Plant, machinery and equipment | 23 | €25,010 | €24,542 | -€468 | -1.9% |
| Furniture and vehicles | 24 | €74,921 | €53,859 | -€21,062 | -28.1% |
| Current assets | 29/58 | €125,413 | €124,299 | -€1,114 | -0.9% |
| Amounts receivable within one year | 40/41 | €57,398 | €45,036 | -€12,363 | -21.5% |
| Trade receivables | 40 | €42,063 | €36,565 | -€5,498 | -13.1% |
| Other amounts receivable | 41 | €15,335 | €8,471 | -€6,865 | -44.8% |
| Cash at bank and in hand | 54/58 | €67,306 | €78,181 | +€10,875 | +16.2% |
| Deferred charges and accrued income | 490/1 | €709 | €1,083 | +€374 | +52.7% |
| Total equity and liabilities | 10/49 | €225,345 | €202,700 | -€22,644 | -10.0% |
| Equity | 10/15 | €153,833 | €153,640 | -€193 | -0.1% |
| 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 | €133,373 | €133,180 | -€193 | -0.1% |
| Amounts payable | 17/49 | €71,512 | €49,061 | -€22,451 | -31.4% |
| Amounts payable after more than one year | 17 | €35,626 | €21,849 | -€13,777 | -38.7% |
| Financial debts | 170/4 | €35,626 | €21,849 | -€13,777 | -38.7% |
| Amounts payable within one year | 42/48 | €35,886 | €27,211 | -€8,675 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €13,177 | €13,777 | +€600 | +4.6% |
| Trade debts | 44 | €8,608 | €6,011 | -€2,597 | -30.2% |
| Suppliers | 440/4 | €8,608 | €6,011 | -€2,597 | -30.2% |
| Taxes, remuneration and social security | 45 | €14,102 | €7,424 | -€6,678 | -47.4% |
| Taxes | 450/3 | €14,102 | €7,424 | -€6,678 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,483 | €25,007 | -€476 | -1.9% |
| Other operating charges | 640/8 | €894 | €1,654 | +€760 | +85.1% |
| Gross operating margin | 9900 | €34,709 | €29,007 | -€5,702 | -16.4% |
| Operating profit (loss) | 9901 | €8,332 | €2,345 | -€5,987 | -71.9% |
| Financial income | 75/76B | €21 | €46 | +€25 | +118% |
| Recurring financial income | 75 | €21 | €46 | +€25 | +118% |
| Financial charges | 65/66B | €2,690 | €2,130 | -€560 | -20.8% |
| Recurring financial charges | 65 | €2,690 | €2,130 | -€560 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €5,663 | €261 | -€5,402 | -95.4% |
| Income taxes | 67/77 | €1,904 | €454 | -€1,450 | -76.2% |
| Profit (loss) for the period | 9904 | €3,759 | -€193 | -€3,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,759 | -€193 | -€3,952 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.