NSA: 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.
NSA
Largest movements
- Receivables after one year -€6.4m
down €6.4m (-65.6%), from €9.8m to €3.4m
- Cash +€4.5m
up €4.5m (+5,229%), from €86,122 to €4.6m
mainly Receivables after one year (+€6.4m) and Net result for the year (+€787,043)
- Current investments +€1.5m
up €1.5m (+1,456%), from €103,048 to €1.6m
- Trade debts -€1.1m
down €1.1m (-76.5%), from €1.5m to €348,709
- Reserves +€787,043
up €787,043 (+3.0%), from €25.9m to €26.7m
- Current portion of long-term debt -€491,201
down €491,201 (-94.0%), from €522,559 to €31,358
- Financial income +€1.1m
up €1.1m (+126%), from €852,833 to €1.9m
of which Non-recurring financial income: +€1.5m
- Financial charges +€205,585
up €205,585 (+354%), from €58,079 to €263,664
of which Non-recurring financial charges: +€150,000
- Gross operating margin +€93,023
up €93,023 (+15.8%), from -€587,759 to -€494,737
- Taxes +€77,020
up €77,020 (+424%), from €18,157 to €95,178
- Other operating charges +€49,823
up €49,823 (+87.1%), from €57,222 to €107,044
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,515,596 | €28,621,798 | -€893,798 | -3.0% |
| Fixed assets | 21/28 | €17,676,338 | €17,569,466 | -€106,873 | -0.6% |
| Tangible fixed assets | 22/27 | €3,051,338 | €2,944,466 | -€106,873 | -3.5% |
| Land and buildings | 22 | €2,586,096 | €2,462,224 | -€123,873 | -4.8% |
| Plant, machinery and equipment | 23 | €3,833 | €7,510 | +€3,676 | +95.9% |
| Furniture and vehicles | 24 | €190,863 | €250,028 | +€59,164 | +31.0% |
| Leasing and similar rights | 25 | €110,512 | - | -€110,512 | |
| Other tangible fixed assets | 26 | €160,033 | €224,704 | +€64,671 | +40.4% |
| Financial fixed assets | 28 | €14,625,000 | €14,625,000 | = | 0.0% |
| Current assets | 29/58 | €11,839,258 | €11,052,332 | -€786,926 | -6.6% |
| Amounts receivable after more than one year | 29 | €9,755,717 | €3,360,000 | -€6.4m | -65.6% |
| Other amounts receivable | 291 | €9,755,717 | €3,360,000 | -€6.4m | -65.6% |
| Amounts receivable within one year | 40/41 | €1,733,800 | €1,492,345 | -€241,455 | -13.9% |
| Trade receivables | 40 | €183,615 | €232,585 | +€48,970 | +26.7% |
| Other amounts receivable | 41 | €1,550,185 | €1,259,759 | -€290,425 | -18.7% |
| Current investments | 50/53 | €103,048 | €1,603,048 | +€1.5m | +1,456% |
| Cash at bank and in hand | 54/58 | €86,122 | €4,589,401 | +€4.5m | +5,229% |
| Deferred charges and accrued income | 490/1 | €160,572 | €7,538 | -€153,034 | -95.3% |
| Total equity and liabilities | 10/49 | €29,515,596 | €28,621,798 | -€893,798 | -3.0% |
| Equity | 10/15 | €25,911,355 | €26,698,398 | +€787,043 | +3.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €25,892,805 | €26,679,848 | +€787,043 | +3.0% |
| Distributable reserves | 133 | €25,892,805 | €26,679,848 | +€787,043 | +3.0% |
| Amounts payable | 17/49 | €3,604,241 | €1,923,400 | -€1.7m | -46.6% |
| Amounts payable after more than one year | 17 | €1,535,857 | €1,453,886 | -€81,971 | -5.3% |
| Financial debts | 170/4 | €1,535,857 | €1,453,886 | -€81,971 | -5.3% |
| Amounts payable within one year | 42/48 | €2,066,473 | €469,514 | -€1.6m | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €522,559 | €31,358 | -€491,201 | -94.0% |
| Trade debts | 44 | €1,480,988 | €348,709 | -€1.1m | -76.5% |
| Suppliers | 440/4 | €1,480,988 | €348,709 | -€1.1m | -76.5% |
| Taxes, remuneration and social security | 45 | €62,926 | €89,447 | +€26,521 | +42.1% |
| Taxes | 450/3 | €62,926 | €88,342 | +€25,416 | +40.4% |
| Remuneration and social security | 454/9 | - | €1,105 | +€1,105 | |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €1,910 | - | -€1,910 | |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,370 | €163,449 | -€43,921 | -21.2% |
| Other operating charges | 640/8 | €57,222 | €107,044 | +€49,823 | +87.1% |
| Non-recurring operating charges | 66A | - | €14,277 | +€14,277 | |
| Gross operating margin | 9900 | -€587,759 | -€494,737 | +€93,023 | +15.8% |
| Operating profit (loss) | 9901 | -€852,351 | -€779,507 | +€72,844 | +8.5% |
| Financial income | 75/76B | €852,833 | €1,925,392 | +€1.1m | +126% |
| Recurring financial income | 75 | €833,718 | €451,621 | -€382,097 | -45.8% |
| Non-recurring financial income | 76B | €19,115 | €1,473,770 | +€1.5m | +7,610% |
| Financial charges | 65/66B | €58,079 | €263,664 | +€205,585 | +354% |
| Recurring financial charges | 65 | €58,079 | €113,664 | +€55,585 | +95.7% |
| Non-recurring financial charges | 66B | - | €150,000 | +€150,000 | |
| Profit (loss) for the period before taxes | 9903 | -€57,598 | €882,220 | +€939,818 | |
| Income taxes | 67/77 | €18,157 | €95,178 | +€77,020 | +424% |
| Profit (loss) for the period | 9904 | -€75,755 | €787,043 | +€862,798 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,755 | €787,043 | +€862,798 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.