NSF BELGIUM: 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.
NSF BELGIUM
Largest movements
- Tangible fixed assets +€835,733
up €835,733 (+7,694%), from €10,862 to €846,595
of which Other tangible fixed assets: +€693,890
- Cash +€416,620
up €416,620 (+181%), from €230,393 to €647,013
mainly Net result for the year (+€536,625) and Receivables after one year (+€240,000)
- Receivables after one year -€240,000
down €240,000 (-18.5%), from €1.3m to €1.1m
- Receivables within one year -€176,792
down €176,792 (-12.0%), from €1.5m to €1.3m
of which Other amounts receivable: -€380,337
- Deferred charges and accrued income -€116,347
down €116,347 (-75.9%), from €153,251 to €36,904
- Profit (loss) carried forward +€536,625
up €536,625 (+21.2%), from €2.5m to €3.1m
- Tax, wage and social debts +€111,740
up €111,740 (+23.8%), from €468,980 to €580,720
of which Remuneration and social security: +€180,456
- Accrued charges and deferred income +€92,632
up €92,632 (+1,525%), from €6,074 to €98,706
- Gross operating margin +€1.7m
up €1.7m (+71.7%), from €2.3m to €4.0m
- Staff costs +€1.2m
up €1.2m (+55.8%), from €2.1m to €3.3m
- Taxes -€87,322
down €87,322 (-64.0%), from €136,544 to €49,222
- Depreciation +€64,536
up €64,536 (+398%), from €16,211 to €80,747
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 | €3,235,259 | €3,954,824 | +€719,565 | +22.2% |
| Fixed assets | 21/28 | €77,209 | €913,292 | +€836,083 | +1,083% |
| Tangible fixed assets | 22/27 | €10,862 | €846,595 | +€835,733 | +7,694% |
| Land and buildings | 22 | €7,796 | - | -€7,796 | |
| Plant, machinery and equipment | 23 | - | €1,083 | +€1,083 | |
| Furniture and vehicles | 24 | €3,066 | €151,622 | +€148,556 | +4,845% |
| Other tangible fixed assets | 26 | - | €693,890 | +€693,890 | |
| Financial fixed assets | 28 | €66,347 | €66,697 | +€350 | +0.5% |
| Current assets | 29/58 | €3,158,050 | €3,041,532 | -€116,518 | -3.7% |
| Amounts receivable after more than one year | 29 | €1,300,000 | €1,060,000 | -€240,000 | -18.5% |
| Other amounts receivable | 291 | €1,300,000 | €1,060,000 | -€240,000 | -18.5% |
| Amounts receivable within one year | 40/41 | €1,474,407 | €1,297,615 | -€176,792 | -12.0% |
| Trade receivables | 40 | €721,617 | €925,162 | +€203,545 | +28.2% |
| Other amounts receivable | 41 | €752,790 | €372,453 | -€380,337 | -50.5% |
| Cash at bank and in hand | 54/58 | €230,393 | €647,013 | +€416,620 | +181% |
| Deferred charges and accrued income | 490/1 | €153,251 | €36,904 | -€116,347 | -75.9% |
| Total equity and liabilities | 10/49 | €3,235,259 | €3,954,824 | +€719,565 | +22.2% |
| Equity | 10/15 | €2,601,423 | €3,138,048 | +€536,625 | +20.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | - | -€6,150 | |
| Reserves not available under the articles | 1311 | €6,150 | - | -€6,150 | |
| Distributable reserves | 133 | - | €6,150 | +€6,150 | |
| Profit (loss) carried forward | 14 | €2,533,773 | €3,070,398 | +€536,625 | +21.2% |
| Amounts payable | 17/49 | €633,836 | €816,776 | +€182,940 | +28.9% |
| Amounts payable within one year | 42/48 | €627,763 | €718,070 | +€90,307 | +14.4% |
| Trade debts | 44 | €158,783 | €137,350 | -€21,433 | -13.5% |
| Suppliers | 440/4 | €158,783 | €137,350 | -€21,433 | -13.5% |
| Taxes, remuneration and social security | 45 | €468,980 | €580,720 | +€111,740 | +23.8% |
| Taxes | 450/3 | €68,716 | - | -€68,716 | |
| Remuneration and social security | 454/9 | €400,264 | €580,720 | +€180,456 | +45.1% |
| Accrued charges and deferred income | 492/3 | €6,074 | €98,706 | +€92,632 | +1,525% |
| Non-recurring operating income | 76A | - | €91,030 | +€91,030 | |
| Remuneration, social security and pensions | 62 | €2,140,145 | €3,334,004 | +€1.2m | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,211 | €80,747 | +€64,536 | +398% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,220 | €435 | -€1,785 | -80.4% |
| Other operating charges | 640/8 | €6,452 | €13,587 | +€7,135 | +111% |
| Non-recurring operating charges | 66A | €95 | €2,753 | +€2,658 | +2,793% |
| Gross operating margin | 9900 | €2,345,640 | €4,026,644 | +€1.7m | +71.7% |
| Operating profit (loss) | 9901 | €180,517 | €595,118 | +€414,601 | +230% |
| Financial income | 75/76B | €38,127 | €32,033 | -€6,094 | -16.0% |
| Recurring financial income | 75 | €38,127 | €32,033 | -€6,094 | -16.0% |
| Financial charges | 65/66B | €19,086 | €41,304 | +€22,218 | +116% |
| Recurring financial charges | 65 | €19,086 | €41,304 | +€22,218 | +116% |
| Profit (loss) for the period before taxes | 9903 | €199,558 | €585,847 | +€386,289 | +194% |
| Income taxes | 67/77 | €136,544 | €49,222 | -€87,322 | -64.0% |
| Profit (loss) for the period | 9904 | €63,014 | €536,625 | +€473,611 | +752% |
| Profit (loss) for the period to be appropriated | 9905 | €63,014 | €536,625 | +€473,611 | +752% |
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 20 October 2026 via checked.be.