NS INVEST: 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.
NS INVEST
Largest movements
- Tangible fixed assets -€27,834
down €27,834 (-25.1%), from €110,841 to €83,008
- Receivables within one year +€18,873
up €18,873 (+17.9%), from €105,467 to €124,339
of which Other amounts receivable: +€23,639
- Cash -€13,568
down €13,568 (-8.5%), from €159,904 to €146,336
mainly Other debts (-€19,945) and Receivables within one year (-€18,873)
- Other debts -€19,945
down €19,945 (-3.8%), from €524,065 to €504,119
- Profit (loss) carried forward -€6,888
down €6,888 (-4.0%), from -€171,918 to -€178,806
- Trade debts +€4,014
up €4,014 (+1,695%), from €237 to €4,250
- Gross operating margin +€4,711
up €4,711 (+19.1%), from €24,663 to €29,373
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 | €379,773 | €356,888 | -€22,885 | -6.0% |
| Fixed assets | 21/28 | €113,164 | €83,392 | -€29,772 | -26.3% |
| Intangible fixed assets | 21 | €1,938 | €0 | -€1,938 | -100% |
| Tangible fixed assets | 22/27 | €110,841 | €83,008 | -€27,834 | -25.1% |
| Furniture and vehicles | 24 | €110,841 | €83,008 | -€27,834 | -25.1% |
| Financial fixed assets | 28 | €384 | €384 | = | 0.0% |
| Current assets | 29/58 | €266,609 | €273,496 | +€6,887 | +2.6% |
| Amounts receivable within one year | 40/41 | €105,467 | €124,339 | +€18,873 | +17.9% |
| Trade receivables | 40 | €10,467 | €5,700 | -€4,767 | -45.5% |
| Other amounts receivable | 41 | €95,000 | €118,639 | +€23,639 | +24.9% |
| Cash at bank and in hand | 54/58 | €159,904 | €146,336 | -€13,568 | -8.5% |
| Deferred charges and accrued income | 490/1 | €1,238 | €2,821 | +€1,582 | +128% |
| Total equity and liabilities | 10/49 | €379,773 | €356,888 | -€22,885 | -6.0% |
| Equity | 10/15 | -€151,458 | -€158,346 | -€6,888 | -4.5% |
| 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 | -€171,918 | -€178,806 | -€6,888 | -4.0% |
| Amounts payable | 17/49 | €531,231 | €515,233 | -€15,997 | -3.0% |
| Amounts payable within one year | 42/48 | €531,231 | €515,233 | -€15,997 | -3.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €237 | €4,250 | +€4,014 | +1,695% |
| Suppliers | 440/4 | €237 | €4,250 | +€4,014 | +1,695% |
| Taxes, remuneration and social security | 45 | €6,929 | €6,863 | -€66 | -0.9% |
| Taxes | 450/3 | €6,929 | €6,863 | -€66 | -0.9% |
| Other amounts payable | 47/48 | €524,065 | €504,119 | -€19,945 | -3.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,495 | €34,451 | -€44 | -0.1% |
| Other operating charges | 640/8 | €1,094 | €1,183 | +€90 | +8.2% |
| Gross operating margin | 9900 | €24,663 | €29,373 | +€4,711 | +19.1% |
| Operating profit (loss) | 9901 | -€10,926 | -€6,261 | +€4,665 | +42.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €173 | €168 | -€5 | -2.9% |
| Recurring financial charges | 65 | €173 | €168 | -€5 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,097 | -€6,428 | +€4,669 | +42.1% |
| Income taxes | 67/77 | €500 | €459 | -€41 | -8.2% |
| Profit (loss) for the period | 9904 | -€11,597 | -€6,888 | +€4,710 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,597 | -€6,888 | +€4,710 | +40.6% |
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 22 October 2026 via checked.be.