NSF: 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.
NSF
Largest movements
- Tangible fixed assets -€24,891
down €24,891 (-25.7%), from €96,943 to €72,052
of which Furniture and vehicles: -€14,929
- Cash +€13,757
up €13,757 (+128.9%), from €10,669 to €24,426
mainly Trade debts (+€46,545) and Depreciation (+€32,296)
- Stocks and contracts +€9,651
up €9,651 (+36.3%), from €26,550 to €36,201
- Intangible fixed assets -€5,555
down €5,555 (-25.0%), from €22,225 to €16,670
- Deferred charges and accrued income -€3,091
down €3,091 (-53.8%), from €5,742 to €2,651
- Trade debts +€46,545
up €46,545 (+71.5%), from €65,081 to €111,626
- Profit (loss) carried forward -€33,982
down €33,982 (-36.0%), from €94,368 to €60,386
- Other debts -€9,700
down €9,700 (-13.3%), from €72,913 to €63,213
- Accrued charges and deferred income -€7,494
no longer reported in 2024 (was €7,494)
- Tax, wage and social debts -€3,862
down €3,862 (-26.6%), from €14,542 to €10,680
of which Taxes: -€2,027
- Gross operating margin -€37,592
down €37,592 (-22.3%), from €168,604 to €131,012
- Staff costs -€21,587
down €21,587 (-14.9%), from €144,664 to €123,077
- Other operating charges -€2,096
down €2,096 (-24.6%), from €8,525 to €6,429
- Taxes -€2,004
no longer reported in 2024 (was €2,004)
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.
Cash bridge derived
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 | €276,162 | €264,505 | -€11,657 | -4.2% |
| Fixed assets | 21/28 | €152,767 | €122,321 | -€30,446 | -19.9% |
| Intangible fixed assets | 21 | €22,225 | €16,670 | -€5,555 | -25.0% |
| Tangible fixed assets | 22/27 | €96,943 | €72,052 | -€24,891 | -25.7% |
| Plant, machinery and equipment | 23 | €4,847 | €4,787 | -€60 | -1.2% |
| Furniture and vehicles | 24 | €31,692 | €16,763 | -€14,929 | -47.1% |
| Other tangible fixed assets | 26 | €60,404 | €50,501 | -€9,903 | -16.4% |
| Financial fixed assets | 28 | €33,599 | €33,599 | -€0 | 0.0% |
| Current assets | 29/58 | €123,395 | €142,185 | +€18,790 | +15.2% |
| Stocks and contracts in progress | 3 | €26,550 | €36,201 | +€9,651 | +36.3% |
| Stocks | 30/36 | €26,550 | €36,201 | +€9,651 | +36.3% |
| Amounts receivable within one year | 40/41 | €80,434 | €78,907 | -€1,527 | -1.9% |
| Trade receivables | 40 | €10,828 | €7,902 | -€2,926 | -27.0% |
| Other amounts receivable | 41 | €69,606 | €71,005 | +€1,399 | +2.0% |
| Cash at bank and in hand | 54/58 | €10,669 | €24,426 | +€13,757 | +128.9% |
| Deferred charges and accrued income | 490/1 | €5,742 | €2,651 | -€3,091 | -53.8% |
| Total equity and liabilities | 10/49 | €276,162 | €264,505 | -€11,657 | -4.2% |
| Equity | 10/15 | €112,968 | €78,986 | -€33,982 | -30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,368 | €60,386 | -€33,982 | -36.0% |
| Amounts payable | 17/49 | €163,194 | €185,519 | +€22,325 | +13.7% |
| Amounts payable within one year | 42/48 | €155,700 | €185,519 | +€29,819 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €3,164 | - | -€3,164 | |
| Trade debts | 44 | €65,081 | €111,626 | +€46,545 | +71.5% |
| Suppliers | 440/4 | €65,081 | €111,626 | +€46,545 | +71.5% |
| Taxes, remuneration and social security | 45 | €14,542 | €10,680 | -€3,862 | -26.6% |
| Taxes | 450/3 | €2,373 | €346 | -€2,027 | -85.4% |
| Remuneration and social security | 454/9 | €12,169 | €10,334 | -€1,835 | -15.1% |
| Other amounts payable | 47/48 | €72,913 | €63,213 | -€9,700 | -13.3% |
| Accrued charges and deferred income | 492/3 | €7,494 | - | -€7,494 | |
| Remuneration, social security and pensions | 62 | €144,664 | €123,077 | -€21,587 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,955 | €32,296 | -€659 | -2.0% |
| Other operating charges | 640/8 | €8,525 | €6,429 | -€2,096 | -24.6% |
| Gross operating margin | 9900 | €168,604 | €131,012 | -€37,592 | -22.3% |
| Operating profit (loss) | 9901 | -€17,540 | -€30,791 | -€13,251 | -75.5% |
| Financial income | 75/76B | €126 | €337 | +€211 | +167.3% |
| Recurring financial income | 75 | €126 | €0 | -€126 | -100.0% |
| Non-recurring financial income | 76B | - | €337 | +€337 | |
| Financial charges | 65/66B | €3,419 | €3,528 | +€109 | +3.2% |
| Recurring financial charges | 65 | €3,419 | €3,528 | +€109 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | -€20,833 | -€33,982 | -€13,149 | -63.1% |
| Income taxes | 67/77 | €2,004 | - | -€2,004 | |
| Profit (loss) for the period | 9904 | -€22,837 | -€33,982 | -€11,145 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,837 | -€33,982 | -€11,145 | -48.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.