NS PARTNERS: 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 PARTNERS
Largest movements
- Receivables within one year +€39,090
up €39,090 (+76.9%), from €50,841 to €89,931
of which Trade receivables: +€26,945
- Deferred charges and accrued income +€1,213
up €1,213 (+212%), from €571 to €1,784
- Profit (loss) carried forward +€18,373
up €18,373 (+119%), from €15,411 to €33,785
- Trade debts +€15,359
up €15,359 (+520%), from €2,955 to €18,313
- Tax, wage and social debts +€14,447
up €14,447 (+67.3%), from €21,460 to €35,908
of which Taxes: +€10,448
- Short-term financial debts -€8,422
down €8,422 (-67.5%), from €12,477 to €4,055
- Staff costs -€43,442
down €43,442 (-47.7%), from €91,077 to €47,635
- Gross operating margin -€15,559
down €15,559 (-13.7%), from €113,961 to €98,402
- Financial charges +€7,691
up €7,691 (+501%), from €1,535 to €9,226
- Taxes +€4,380
up €4,380 (+45.5%), from €9,631 to €14,010
- Other operating charges -€1,884
down €1,884 (-21.3%), from €8,832 to €6,948
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,403 | €92,160 | +€39,757 | +75.9% |
| Fixed assets | 21/28 | €991 | €444 | -€546 | -55.1% |
| Tangible fixed assets | 22/27 | €991 | €444 | -€546 | -55.1% |
| Plant, machinery and equipment | 23 | €991 | €444 | -€546 | -55.1% |
| Current assets | 29/58 | €51,413 | €91,716 | +€40,303 | +78.4% |
| Amounts receivable within one year | 40/41 | €50,841 | €89,931 | +€39,090 | +76.9% |
| Trade receivables | 40 | €41,406 | €68,351 | +€26,945 | +65.1% |
| Other amounts receivable | 41 | €9,435 | €21,580 | +€12,145 | +129% |
| Deferred charges and accrued income | 490/1 | €571 | €1,784 | +€1,213 | +212% |
| Total equity and liabilities | 10/49 | €52,403 | €92,160 | +€39,757 | +75.9% |
| Equity | 10/15 | €15,511 | €33,885 | +€18,373 | +118% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,411 | €33,785 | +€18,373 | +119% |
| Amounts payable | 17/49 | €36,892 | €58,276 | +€21,384 | +58.0% |
| Amounts payable within one year | 42/48 | €36,892 | €58,276 | +€21,384 | +58.0% |
| Financial debts | 43 | €12,477 | €4,055 | -€8,422 | -67.5% |
| Credit institutions | 430/8 | €12,477 | €4,055 | -€8,422 | -67.5% |
| Trade debts | 44 | €2,955 | €18,313 | +€15,359 | +520% |
| Suppliers | 440/4 | €2,955 | €18,313 | +€15,359 | +520% |
| Taxes, remuneration and social security | 45 | €21,460 | €35,908 | +€14,447 | +67.3% |
| Taxes | 450/3 | €14,058 | €24,506 | +€10,448 | +74.3% |
| Remuneration and social security | 454/9 | €7,402 | €11,402 | +€4,000 | +54.0% |
| Remuneration, social security and pensions | 62 | €91,077 | €47,635 | -€43,442 | -47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €546 | €546 | = | 0.0% |
| Other operating charges | 640/8 | €8,832 | €6,948 | -€1,884 | -21.3% |
| Non-recurring operating charges | 66A | €1,048 | €2,089 | +€1,041 | +99.3% |
| Gross operating margin | 9900 | €113,961 | €98,402 | -€15,559 | -13.7% |
| Operating profit (loss) | 9901 | €12,457 | €41,183 | +€28,727 | +231% |
| Financial income | 75/76B | €766 | €426 | -€340 | -44.4% |
| Recurring financial income | 75 | €766 | €426 | -€340 | -44.4% |
| Financial charges | 65/66B | €1,535 | €9,226 | +€7,691 | +501% |
| Recurring financial charges | 65 | €1,535 | €9,226 | +€7,691 | +501% |
| Profit (loss) for the period before taxes | 9903 | €11,687 | €32,384 | +€20,696 | +177% |
| Income taxes | 67/77 | €9,631 | €14,010 | +€4,380 | +45.5% |
| Profit (loss) for the period | 9904 | €2,057 | €18,373 | +€16,317 | +793% |
| Profit (loss) for the period to be appropriated | 9905 | €2,057 | €18,373 | +€16,317 | +793% |
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 14 October 2026 via checked.be.