NSAP: 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.
NSAP
Largest movements
- Tangible fixed assets +€15,898
up €15,898 (+91.4%), from €17,391 to €33,289
of which Leasing and similar rights: +€26,108
- Receivables within one year +€10,923
up €10,923 (+39.6%), from €27,613 to €38,536
of which Trade receivables: +€10,525
- Cash -€7,850
down €7,850 (-54.8%), from €14,332 to €6,483
mainly Investment in fixed assets (net) (-€34,741) and Receivables within one year (-€10,923)
- Stocks and contracts +€7,696
up €7,696 (+79.0%), from €9,742 to €17,438
- Debts after one year +€18,886
new in 2025: €18,886
- Tax, wage and social debts +€10,272
up €10,272 (+174.0%), from €5,903 to €16,175
of which Taxes: +€5,172
- Reserves +€9,500
up €9,500 (+28.5%), from €33,360 to €42,860
of which Distributable reserves: +€9,500
- Trade debts -€7,296
down €7,296 (-56.0%), from €13,028 to €5,732
- Current portion of long-term debt -€6,004
down €6,004 (-65.2%), from €9,209 to €3,205
- Gross operating margin +€22,302
up €22,302 (+120.8%), from €18,455 to €40,757
- Staff costs -€7,564
down €7,564 (-93.9%), from €8,055 to €490
- Depreciation +€7,065
up €7,065 (+60.0%), from €11,778 to €18,843
- Taxes +€5,689
up €5,689, from -€415 to €5,274
- Financial charges +€4,703
up €4,703 (+2652.9%), from €177 to €4,881
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.
Cash bridge derived
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 | €69,945 | €95,982 | +€26,037 | +37.2% |
| Fixed assets | 21/28 | €17,628 | €33,526 | +€15,898 | +90.2% |
| Tangible fixed assets | 22/27 | €17,391 | €33,289 | +€15,898 | +91.4% |
| Plant, machinery and equipment | 23 | €3,488 | €2,089 | -€1,398 | -40.1% |
| Furniture and vehicles | 24 | €13,903 | €5,091 | -€8,812 | -63.4% |
| Leasing and similar rights | 25 | - | €26,108 | +€26,108 | |
| Financial fixed assets | 28 | €237 | €237 | = | 0.0% |
| Current assets | 29/58 | €52,317 | €62,456 | +€10,139 | +19.4% |
| Stocks and contracts in progress | 3 | €9,742 | €17,438 | +€7,696 | +79.0% |
| Stocks | 30/36 | €9,742 | €17,438 | +€7,696 | +79.0% |
| Amounts receivable within one year | 40/41 | €27,613 | €38,536 | +€10,923 | +39.6% |
| Trade receivables | 40 | €27,064 | €37,589 | +€10,525 | +38.9% |
| Other amounts receivable | 41 | €549 | €947 | +€398 | +72.5% |
| Cash at bank and in hand | 54/58 | €14,332 | €6,483 | -€7,850 | -54.8% |
| Deferred charges and accrued income | 490/1 | €630 | - | -€630 | |
| Total equity and liabilities | 10/49 | €69,945 | €95,982 | +€26,037 | +37.2% |
| Equity | 10/15 | €41,806 | €51,345 | +€9,539 | +22.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €33,360 | €42,860 | +€9,500 | +28.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €31,500 | €41,000 | +€9,500 | +30.2% |
| Profit (loss) carried forward | 14 | €1,446 | €1,485 | +€39 | +2.7% |
| Amounts payable | 17/49 | €28,139 | €44,637 | +€16,498 | +58.6% |
| Amounts payable after more than one year | 17 | - | €18,886 | +€18,886 | |
| Financial debts | 170/4 | - | €18,886 | +€18,886 | |
| Amounts payable within one year | 42/48 | €28,139 | €25,752 | -€2,387 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €9,209 | €3,205 | -€6,004 | -65.2% |
| Trade debts | 44 | €13,028 | €5,732 | -€7,296 | -56.0% |
| Suppliers | 440/4 | €13,028 | €5,732 | -€7,296 | -56.0% |
| Taxes, remuneration and social security | 45 | €5,903 | €16,175 | +€10,272 | +174.0% |
| Taxes | 450/3 | - | €5,172 | +€5,172 | |
| Remuneration and social security | 454/9 | €5,903 | €11,003 | +€5,100 | +86.4% |
| Other amounts payable | 47/48 | - | €640 | +€640 | |
| Remuneration, social security and pensions | 62 | €8,055 | €490 | -€7,564 | -93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,778 | €18,843 | +€7,065 | +60.0% |
| Other operating charges | 640/8 | €280 | €1,731 | +€1,450 | +517.1% |
| Gross operating margin | 9900 | €18,455 | €40,757 | +€22,302 | +120.8% |
| Operating profit (loss) | 9901 | -€1,658 | €19,693 | +€21,351 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €177 | €4,881 | +€4,703 | +2652.9% |
| Recurring financial charges | 65 | €177 | €4,881 | +€4,703 | +2652.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,832 | €14,813 | +€16,645 | |
| Income taxes | 67/77 | -€415 | €5,274 | +€5,689 | |
| Profit (loss) for the period | 9904 | -€1,417 | €9,539 | +€10,956 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,417 | €9,539 | +€10,956 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.