NSDeneuker: 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.
NSDeneuker
Largest movements
- Tangible fixed assets -€4,713
down €4,713 (-42.7%), from €11,026 to €6,313
of which Plant, machinery and equipment: -€3,264
- Receivables within one year -€940
down €940 (-6.0%), from €15,646 to €14,705
of which Other amounts receivable: -€1,820
- Formation expenses -€505
down €505 (-75.0%), from €673 to €168
- Tax, wage and social debts -€13,737
down €13,737 (-71.6%), from €19,196 to €5,459
of which Taxes: -€7,394
- Other debts +€9,388
up €9,388 (+250%), from €3,758 to €13,146
- Debts after one year -€8,376
no longer reported in 2025 (was €8,376)
- Profit (loss) carried forward +€5,813
up €5,813 (+12.2%), from -€47,532 to -€41,719
- Short-term financial debts +€5,784
up €5,784 (+41.5%), from €13,923 to €19,707
of which Other loans: +€3,892
- Gross operating margin +€16,475
up €16,475 (+744%), from €2,213 to €18,689
- Other operating charges -€1,202
down €1,202 (-54.7%), from €2,198 to €996
- Financial charges +€281
up €281 (+4.4%), from €6,381 to €6,662
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 | €27,842 | €21,812 | -€6,030 | -21.7% |
| Formation expenses | 20 | €673 | €168 | -€505 | -75.0% |
| Fixed assets | 21/28 | €11,026 | €6,313 | -€4,713 | -42.7% |
| Tangible fixed assets | 22/27 | €11,026 | €6,313 | -€4,713 | -42.7% |
| Land and buildings | 22 | €1,481 | €1,299 | -€182 | -12.3% |
| Plant, machinery and equipment | 23 | €6,109 | €2,845 | -€3,264 | -53.4% |
| Furniture and vehicles | 24 | €3,435 | €2,169 | -€1,266 | -36.9% |
| Current assets | 29/58 | €16,143 | €15,331 | -€812 | -5.0% |
| Amounts receivable within one year | 40/41 | €15,646 | €14,705 | -€940 | -6.0% |
| Trade receivables | 40 | €12,592 | €13,472 | +€880 | +7.0% |
| Other amounts receivable | 41 | €3,053 | €1,233 | -€1,820 | -59.6% |
| Deferred charges and accrued income | 490/1 | €498 | €625 | +€128 | +25.7% |
| Total equity and liabilities | 10/49 | €27,842 | €21,812 | -€6,030 | -21.7% |
| Equity | 10/15 | -€37,532 | -€31,719 | +€5,813 | +15.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,532 | -€41,719 | +€5,813 | +12.2% |
| Amounts payable | 17/49 | €65,374 | €53,531 | -€11,843 | -18.1% |
| Amounts payable after more than one year | 17 | €8,376 | - | -€8,376 | |
| Financial debts | 170/4 | €8,376 | - | -€8,376 | |
| Amounts payable within one year | 42/48 | €56,585 | €53,268 | -€3,317 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €9,194 | €5,394 | -€3,800 | -41.3% |
| Financial debts | 43 | €13,923 | €19,707 | +€5,784 | +41.5% |
| Credit institutions | 430/8 | €7,799 | €9,690 | +€1,892 | +24.3% |
| Other loans | 439 | €6,124 | €10,017 | +€3,892 | +63.6% |
| Trade debts | 44 | €10,513 | €9,562 | -€952 | -9.1% |
| Suppliers | 440/4 | €10,513 | €9,562 | -€952 | -9.1% |
| Taxes, remuneration and social security | 45 | €19,196 | €5,459 | -€13,737 | -71.6% |
| Taxes | 450/3 | €10,998 | €3,604 | -€7,394 | -67.2% |
| Remuneration and social security | 454/9 | €8,198 | €1,855 | -€6,343 | -77.4% |
| Other amounts payable | 47/48 | €3,758 | €13,146 | +€9,388 | +250% |
| Accrued charges and deferred income | 492/3 | €413 | €263 | -€150 | -36.3% |
| Non-recurring operating income | 76A | €933 | - | -€933 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,312 | €5,218 | -€94 | -1.8% |
| Other operating charges | 640/8 | €2,198 | €996 | -€1,202 | -54.7% |
| Gross operating margin | 9900 | €2,213 | €18,689 | +€16,475 | +744% |
| Operating profit (loss) | 9901 | -€5,297 | €12,475 | +€17,772 | |
| Financial income | 75/76B | €51 | €0 | -€51 | -99.9% |
| Recurring financial income | 75 | €51 | €0 | -€51 | -99.9% |
| Financial charges | 65/66B | €6,381 | €6,662 | +€281 | +4.4% |
| Recurring financial charges | 65 | €6,381 | €6,662 | +€281 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,627 | €5,813 | +€17,440 | |
| Profit (loss) for the period | 9904 | -€11,627 | €5,813 | +€17,440 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,627 | €5,813 | +€17,440 |
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 15 October 2026 via checked.be.