NSE: what changed
Two fiscal 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.
NSE
Largest movements
- Stocks and contracts +€164,600
up €164,600 (+31.8%), from €517,321 to €681,921
- Receivables within one year +€8,987
up €8,987 (+26.5%), from €33,932 to €42,918
of which Other amounts receivable: +€8,792
- Other debts +€892,334
new in 2025: €892,334
- Accrued charges and deferred income -€697,147
no longer reported in 2025 (was €697,147)
- Profit (loss) carried forward -€10,559
down €10,559 (-5.8%), from -€181,623 to -€192,182
- Gross operating margin +€18,006
up €18,006 (+66.0%), from -€27,290 to -€9,284
- Other operating charges -€3,820
down €3,820 (-76.2%), from €5,015 to €1,196
- Financial income +€640
up €640 (+3167.2%), from €20 to €661
- Financial charges +€634
up €634 (+1071.0%), from €59 to €693
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 | €556,077 | €735,030 | +€178,953 | +32.2% |
| Fixed assets | 21/28 | €84 | €37 | -€47 | -55.8% |
| Tangible fixed assets | 22/27 | €84 | €37 | -€47 | -55.8% |
| Plant, machinery and equipment | 23 | €84 | €37 | -€47 | -55.8% |
| Current assets | 29/58 | €555,993 | €734,993 | +€179,000 | +32.2% |
| Stocks and contracts in progress | 3 | €517,321 | €681,921 | +€164,600 | +31.8% |
| Stocks | 30/36 | €517,321 | €681,921 | +€164,600 | +31.8% |
| Amounts receivable within one year | 40/41 | €33,932 | €42,918 | +€8,987 | +26.5% |
| Trade receivables | 40 | €6,688 | €6,883 | +€195 | +2.9% |
| Other amounts receivable | 41 | €27,243 | €36,035 | +€8,792 | +32.3% |
| Cash at bank and in hand | 54/58 | €4,448 | €10,154 | +€5,706 | +128.3% |
| Deferred charges and accrued income | 490/1 | €293 | - | -€293 | |
| Total equity and liabilities | 10/49 | €556,077 | €735,030 | +€178,953 | +32.2% |
| Equity | 10/15 | -€153,623 | -€164,182 | -€10,559 | -6.9% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,623 | -€192,182 | -€10,559 | -5.8% |
| Amounts payable | 17/49 | €709,700 | €899,212 | +€189,512 | +26.7% |
| Amounts payable within one year | 42/48 | €12,553 | €899,212 | +€886,659 | +7063.4% |
| Trade debts | 44 | €12,553 | €6,879 | -€5,674 | -45.2% |
| Suppliers | 440/4 | €12,553 | €6,879 | -€5,674 | -45.2% |
| Other amounts payable | 47/48 | - | €892,334 | +€892,334 | |
| Accrued charges and deferred income | 492/3 | €697,147 | - | -€697,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47 | €47 | = | 0.0% |
| Other operating charges | 640/8 | €5,015 | €1,196 | -€3,820 | -76.2% |
| Non-recurring operating charges | 66A | €430 | - | -€430 | |
| Gross operating margin | 9900 | -€27,290 | -€9,284 | +€18,006 | +66.0% |
| Operating profit (loss) | 9901 | -€32,782 | -€10,526 | +€22,256 | +67.9% |
| Financial income | 75/76B | €20 | €661 | +€640 | +3167.2% |
| Recurring financial income | 75 | €20 | €661 | +€640 | +3167.2% |
| Financial charges | 65/66B | €59 | €693 | +€634 | +1071.0% |
| Recurring financial charges | 65 | €59 | €693 | +€634 | +1071.0% |
| Profit (loss) for the period before taxes | 9903 | -€32,821 | -€10,559 | +€22,262 | +67.8% |
| Profit (loss) for the period | 9904 | -€32,821 | -€10,559 | +€22,262 | +67.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,821 | -€10,559 | +€22,262 | +67.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.