NSLB: 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.
NSLB
Largest movements
- Receivables within one year +€11,454
up €11,454 (+89.7%), from €12,763 to €24,217
of which Trade receivables: +€11,513
- Cash -€10,293
down €10,293 (-18.1%), from €56,958 to €46,665
mainly Other debts (-€67,250) and Receivables within one year (-€11,454)
- Stocks and contracts -€5,488
down €5,488 (-8.1%), from €67,520 to €62,032
- Tangible fixed assets -€5,152
down €5,152 (-32.1%), from €16,053 to €10,901
of which Plant, machinery and equipment: -€3,275
- Other debts -€67,250
down €67,250 (-71.5%), from €94,085 to €26,835
- Reserves +€20,000
new in 2025: €20,000
- Trade debts +€18,857
up €18,857 (+84.5%), from €22,313 to €41,170
- Profit (loss) carried forward +€8,585
up €8,585 (+126.6%), from €6,779 to €15,365
- Tax, wage and social debts +€8,521
up €8,521 (+38.0%), from €22,421 to €30,942
of which Taxes: +€9,223
- Gross operating margin +€40,597
up €40,597 (+19.1%), from €212,644 to €253,241
- Staff costs +€23,372
up €23,372 (+13.4%), from €173,870 to €197,243
- Taxes +€11,744
up €11,744 (+686.3%), from €1,711 to €13,456
- Financial charges +€5,580
up €5,580 (+196.1%), from €2,845 to €8,425
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 | €155,161 | €144,633 | -€10,528 | -6.8% |
| Fixed assets | 21/28 | €16,053 | €10,901 | -€5,152 | -32.1% |
| Tangible fixed assets | 22/27 | €16,053 | €10,901 | -€5,152 | -32.1% |
| Land and buildings | 22 | €2,968 | €2,236 | -€732 | -24.7% |
| Plant, machinery and equipment | 23 | €10,944 | €7,669 | -€3,275 | -29.9% |
| Furniture and vehicles | 24 | €2,141 | €996 | -€1,145 | -53.5% |
| Current assets | 29/58 | €139,108 | €133,733 | -€5,375 | -3.9% |
| Stocks and contracts in progress | 3 | €67,520 | €62,032 | -€5,488 | -8.1% |
| Stocks | 30/36 | €67,520 | €62,032 | -€5,488 | -8.1% |
| Amounts receivable within one year | 40/41 | €12,763 | €24,217 | +€11,454 | +89.7% |
| Trade receivables | 40 | €7,197 | €18,711 | +€11,513 | +160.0% |
| Other amounts receivable | 41 | €5,566 | €5,506 | -€60 | -1.1% |
| Cash at bank and in hand | 54/58 | €56,958 | €46,665 | -€10,293 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,867 | €819 | -€1,049 | -56.1% |
| Total equity and liabilities | 10/49 | €155,161 | €144,633 | -€10,528 | -6.8% |
| Equity | 10/15 | €12,979 | €41,565 | +€28,585 | +220.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €20,000 | +€20,000 | |
| Distributable reserves | 133 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €6,779 | €15,365 | +€8,585 | +126.6% |
| Amounts payable | 17/49 | €142,182 | €103,069 | -€39,113 | -27.5% |
| Amounts payable within one year | 42/48 | €138,819 | €98,947 | -€39,872 | -28.7% |
| Trade debts | 44 | €22,313 | €41,170 | +€18,857 | +84.5% |
| Suppliers | 440/4 | €22,313 | €41,170 | +€18,857 | +84.5% |
| Taxes, remuneration and social security | 45 | €22,421 | €30,942 | +€8,521 | +38.0% |
| Taxes | 450/3 | €874 | €10,097 | +€9,223 | +1055.4% |
| Remuneration and social security | 454/9 | €21,547 | €20,846 | -€702 | -3.3% |
| Other amounts payable | 47/48 | €94,085 | €26,835 | -€67,250 | -71.5% |
| Accrued charges and deferred income | 492/3 | €3,363 | €4,121 | +€759 | +22.6% |
| Remuneration, social security and pensions | 62 | €173,870 | €197,243 | +€23,372 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,199 | €5,451 | +€252 | +4.8% |
| Other operating charges | 640/8 | €971 | €372 | -€599 | -61.7% |
| Gross operating margin | 9900 | €212,644 | €253,241 | +€40,597 | +19.1% |
| Operating profit (loss) | 9901 | €32,603 | €50,176 | +€17,572 | +53.9% |
| Financial income | 75/76B | €0 | €291 | +€291 | +2905000.0% |
| Recurring financial income | 75 | €0 | €291 | +€291 | +2905000.0% |
| Financial charges | 65/66B | €2,845 | €8,425 | +€5,580 | +196.1% |
| Recurring financial charges | 65 | €2,845 | €8,425 | +€5,580 | +196.1% |
| Profit (loss) for the period before taxes | 9903 | €29,758 | €42,041 | +€12,283 | +41.3% |
| Income taxes | 67/77 | €1,711 | €13,456 | +€11,744 | +686.3% |
| Profit (loss) for the period | 9904 | €28,047 | €28,585 | +€539 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,047 | €28,585 | +€539 | +1.9% |
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 8 October 2026 via checked.be.