NSF Immo: 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 Immo
Largest movements
- Tangible fixed assets -€8,068
down €8,068 (-3.7%), from €218,521 to €210,453
of which Land and buildings: -€7,143
- Debts after one year -€26,050
down €26,050 (-33.8%), from €77,135 to €51,085
- Reserves +€15,037
up €15,037 (+8.4%), from €179,783 to €194,820
- Financial charges -€1,148
down €1,148 (-14.2%), from €8,062 to €6,913
- Gross operating margin +€1,067
up €1,067 (+2.9%), from €37,271 to €38,338
- Taxes +€560
up €560 (+8.7%), from €6,457 to €7,017
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 | €544,830 | €533,887 | -€10,943 | -2.0% |
| Fixed assets | 21/28 | €505,521 | €497,453 | -€8,068 | -1.6% |
| Tangible fixed assets | 22/27 | €218,521 | €210,453 | -€8,068 | -3.7% |
| Land and buildings | 22 | €210,855 | €203,712 | -€7,143 | -3.4% |
| Furniture and vehicles | 24 | €7,666 | €6,741 | -€925 | -12.1% |
| Financial fixed assets | 28 | €287,000 | €287,000 | = | 0.0% |
| Current assets | 29/58 | €39,309 | €36,434 | -€2,875 | -7.3% |
| Cash at bank and in hand | 54/58 | €38,009 | €35,475 | -€2,534 | -6.7% |
| Deferred charges and accrued income | 490/1 | €1,300 | €959 | -€341 | -26.3% |
| Total equity and liabilities | 10/49 | €544,830 | €533,887 | -€10,943 | -2.0% |
| Equity | 10/15 | €257,122 | €272,160 | +€15,037 | +5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €179,783 | €194,820 | +€15,037 | +8.4% |
| Distributable reserves | 133 | €179,783 | €194,820 | +€15,037 | +8.4% |
| Profit (loss) carried forward | 14 | €71,140 | €71,140 | = | 0.0% |
| Amounts payable | 17/49 | €287,707 | €261,727 | -€25,980 | -9.0% |
| Amounts payable after more than one year | 17 | €77,135 | €51,085 | -€26,050 | -33.8% |
| Financial debts | 170/4 | €77,135 | €51,085 | -€26,050 | -33.8% |
| Amounts payable within one year | 42/48 | €210,291 | €210,389 | +€99 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €30,747 | €28,463 | -€2,283 | -7.4% |
| Trade debts | 44 | €372 | €89 | -€282 | -75.9% |
| Suppliers | 440/4 | €372 | €89 | -€282 | -75.9% |
| Taxes, remuneration and social security | 45 | €3,457 | €2,017 | -€1,440 | -41.6% |
| Taxes | 450/3 | €3,457 | €2,017 | -€1,440 | -41.6% |
| Other amounts payable | 47/48 | €175,715 | €179,819 | +€4,104 | +2.3% |
| Accrued charges and deferred income | 492/3 | €281 | €253 | -€29 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,068 | €8,068 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,231 | €1,302 | +€70 | +5.7% |
| Gross operating margin | 9900 | €37,271 | €38,338 | +€1,067 | +2.9% |
| Operating profit (loss) | 9901 | €27,972 | €28,968 | +€996 | +3.6% |
| Financial charges | 65/66B | €8,062 | €6,913 | -€1,148 | -14.2% |
| Recurring financial charges | 65 | €8,062 | €6,913 | -€1,148 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €19,910 | €22,055 | +€2,145 | +10.8% |
| Income taxes | 67/77 | €6,457 | €7,017 | +€560 | +8.7% |
| Profit (loss) for the period | 9904 | €13,453 | €15,037 | +€1,584 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,453 | €15,037 | +€1,584 | +11.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.