NSLJ: 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.
NSLJ
Largest movements
- Receivables within one year +€11,576
up €11,576 (+32.4%), from €35,676 to €47,252
of which Other amounts receivable: +€11,404
- Stocks and contracts -€1,831
down €1,831 (-36.7%), from €4,995 to €3,164
- Other debts +€42,635
new in 2025: €42,635
- Reserves -€18,178
down €18,178 (-20.0%), from €91,056 to €72,878
- Trade debts -€14,217
down €14,217 (-48.1%), from €29,575 to €15,358
- Current portion of long-term debt -€10,029
down €10,029 (-86.0%), from €11,664 to €1,635
- Tax, wage and social debts +€4,711
up €4,711 (+157.3%), from €2,995 to €7,706
of which Taxes: +€4,711
- Gross operating margin +€6,013
up €6,013 (+11.1%), from €54,307 to €60,320
- Financial charges +€3,778
up €3,778 (+41.3%), from €9,152 to €12,930
- Taxes +€1,566
up €1,566 (+15.2%), from €10,267 to €11,833
- Depreciation -€728
down €728 (-5.8%), from €12,590 to €11,862
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 | €135,750 | €144,607 | +€8,857 | +6.5% |
| Fixed assets | 21/28 | €44,848 | €43,651 | -€1,196 | -2.7% |
| Tangible fixed assets | 22/27 | €44,848 | €43,651 | -€1,196 | -2.7% |
| Land and buildings | 22 | - | €1,359 | +€1,359 | |
| Plant, machinery and equipment | 23 | €2,629 | €2,904 | +€275 | +10.5% |
| Furniture and vehicles | 24 | €38 | €6,212 | +€6,174 | +16048.1% |
| Leasing and similar rights | 25 | €38,133 | €30,026 | -€8,107 | -21.3% |
| Other tangible fixed assets | 26 | €4,047 | €3,149 | -€897 | -22.2% |
| Current assets | 29/58 | €90,902 | €100,956 | +€10,054 | +11.1% |
| Amounts receivable after more than one year | 29 | €23,644 | €23,644 | = | 0.0% |
| Other amounts receivable | 291 | €23,644 | €23,644 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,995 | €3,164 | -€1,831 | -36.7% |
| Stocks | 30/36 | €4,995 | €3,164 | -€1,831 | -36.7% |
| Amounts receivable within one year | 40/41 | €35,676 | €47,252 | +€11,576 | +32.4% |
| Trade receivables | 40 | €0 | €172 | +€172 | |
| Other amounts receivable | 41 | €35,676 | €47,081 | +€11,404 | +32.0% |
| Cash at bank and in hand | 54/58 | €25,737 | €25,896 | +€159 | +0.6% |
| Deferred charges and accrued income | 490/1 | €850 | €1,000 | +€150 | +17.6% |
| Total equity and liabilities | 10/49 | €135,750 | €144,607 | +€8,857 | +6.5% |
| Equity | 10/15 | €91,156 | €72,978 | -€18,178 | -19.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €91,056 | €72,878 | -€18,178 | -20.0% |
| Distributable reserves | 133 | €91,056 | €72,878 | -€18,178 | -20.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €44,594 | €71,630 | +€27,036 | +60.6% |
| Amounts payable after more than one year | 17 | €0 | €4,114 | +€4,114 | |
| Financial debts | 170/4 | €0 | €4,114 | +€4,114 | |
| Amounts payable within one year | 42/48 | €44,594 | €67,516 | +€22,922 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €11,664 | €1,635 | -€10,029 | -86.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €29,575 | €15,358 | -€14,217 | -48.1% |
| Suppliers | 440/4 | €29,575 | €15,358 | -€14,217 | -48.1% |
| Advances received on contracts in progress | 46 | €360 | €182 | -€178 | -49.4% |
| Taxes, remuneration and social security | 45 | €2,995 | €7,706 | +€4,711 | +157.3% |
| Taxes | 450/3 | €2,995 | €7,706 | +€4,711 | +157.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €42,635 | +€42,635 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €801 | €702 | -€99 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,590 | €11,862 | -€728 | -5.8% |
| Other operating charges | 640/8 | €1,464 | €1,370 | -€94 | -6.4% |
| Non-recurring operating charges | 66A | €364 | €0 | -€364 | -100.0% |
| Gross operating margin | 9900 | €54,307 | €60,320 | +€6,013 | +11.1% |
| Operating profit (loss) | 9901 | €39,089 | €46,387 | +€7,298 | +18.7% |
| Financial income | 75/76B | €2,265 | €2,832 | +€567 | +25.0% |
| Recurring financial income | 75 | €2,265 | €2,832 | +€567 | +25.0% |
| Financial charges | 65/66B | €9,152 | €12,930 | +€3,778 | +41.3% |
| Recurring financial charges | 65 | €9,152 | €12,930 | +€3,778 | +41.3% |
| Profit (loss) for the period before taxes | 9903 | €32,202 | €36,290 | +€4,088 | +12.7% |
| Income taxes | 67/77 | €10,267 | €11,833 | +€1,566 | +15.2% |
| Profit (loss) for the period | 9904 | €21,935 | €24,457 | +€2,522 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,935 | €24,457 | +€2,522 | +11.5% |
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 7 October 2026 via checked.be.