NSGA: 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.
NSGA
Largest movements
- Tangible fixed assets -€8,546
down €8,546 (-22.3%), from €38,400 to €29,854
of which Furniture and vehicles: -€7,700
- Receivables within one year -€8,042
down €8,042 (-95.7%), from €8,406 to €363
of which Other amounts receivable: -€7,817
- Cash -€3,078
down €3,078 (-99.9%), from €3,079 to €2
mainly Net result for the year (-€12,082) and Debts after one year (-€8,000)
- Profit (loss) carried forward -€12,082
down €12,082, from €455 to -€11,627
- Debts after one year -€8,000
down €8,000 (-17.2%), from €46,585 to €38,585
- Trade debts +€571
up €571 (+524%), from €109 to €680
- Gross operating margin -€6,515
down €6,515, from €3,105 to -€3,410
- Depreciation +€5,908
up €5,908 (+224%), from €2,638 to €8,546
- Financial charges +€114
up €114 (+880%), from €13 to €127
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
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 | €51,158 | €31,564 | -€19,593 | -38.3% |
| Fixed assets | 21/28 | €38,400 | €29,854 | -€8,546 | -22.3% |
| Tangible fixed assets | 22/27 | €38,400 | €29,854 | -€8,546 | -22.3% |
| Plant, machinery and equipment | 23 | €1,835 | €990 | -€846 | -46.1% |
| Furniture and vehicles | 24 | €36,564 | €28,864 | -€7,700 | -21.1% |
| Current assets | 29/58 | €12,758 | €1,710 | -€11,048 | -86.6% |
| Amounts receivable within one year | 40/41 | €8,406 | €363 | -€8,042 | -95.7% |
| Trade receivables | 40 | €225 | - | -€225 | |
| Other amounts receivable | 41 | €8,181 | €363 | -€7,817 | -95.6% |
| Cash at bank and in hand | 54/58 | €3,079 | €2 | -€3,078 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,273 | €1,345 | +€72 | +5.7% |
| Total equity and liabilities | 10/49 | €51,158 | €31,564 | -€19,593 | -38.3% |
| Equity | 10/15 | €2,455 | -€9,627 | -€12,082 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €455 | -€11,627 | -€12,082 | |
| Amounts payable | 17/49 | €48,703 | €41,192 | -€7,511 | -15.4% |
| Amounts payable after more than one year | 17 | €46,585 | €38,585 | -€8,000 | -17.2% |
| Financial debts | 170/4 | €46,585 | €38,585 | -€8,000 | -17.2% |
| Amounts payable within one year | 42/48 | €2,118 | €2,607 | +€489 | +23.1% |
| Trade debts | 44 | €109 | €680 | +€571 | +524% |
| Suppliers | 440/4 | €109 | €680 | +€571 | +524% |
| Other amounts payable | 47/48 | €2,009 | €1,927 | -€82 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,638 | €8,546 | +€5,908 | +224% |
| Gross operating margin | 9900 | €3,105 | -€3,410 | -€6,515 | |
| Operating profit (loss) | 9901 | €468 | -€11,955 | -€12,423 | |
| Financial charges | 65/66B | €13 | €127 | +€114 | +880% |
| Recurring financial charges | 65 | €13 | €127 | +€114 | +880% |
| Profit (loss) for the period before taxes | 9903 | €455 | -€12,082 | -€12,537 | |
| Profit (loss) for the period | 9904 | €455 | -€12,082 | -€12,537 | |
| Profit (loss) for the period to be appropriated | 9905 | €455 | -€12,082 | -€12,537 |
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 13 October 2026 via checked.be.