NSM IMMO: 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.
NSM IMMO
Largest movements
- Tangible fixed assets +€107,500
up €107,500 (+51.4%), from €208,952 to €316,452
of which Assets under construction and advance payments: +€107,500
- Short-term financial debts +€95,082
up €95,082 (+97.9%), from €97,134 to €192,216
- Other debts +€8,069
up €8,069 (+13.4%), from €60,334 to €68,403
- Trade debts +€7,877
up €7,877 (+16.0%), from €49,285 to €57,162
- Advances received -€5,483
no longer reported in 2024 (was €5,483)
- Gross operating margin +€24,224
up €24,224, from -€7,654 to €16,570
- Financial charges +€11,046
up €11,046 (+381%), from €2,897 to €13,943
- Taxes +€536
new in 2024: €536
- Other operating charges -€352
down €352 (-47.6%), from €740 to €388
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 | €236,027 | €343,759 | +€107,732 | +45.6% |
| Fixed assets | 21/28 | €211,869 | €319,369 | +€107,500 | +50.7% |
| Tangible fixed assets | 22/27 | €208,952 | €316,452 | +€107,500 | +51.4% |
| Land and buildings | 22 | €76,452 | €76,452 | = | 0.0% |
| Assets under construction and advance payments | 27 | €132,500 | €240,000 | +€107,500 | +81.1% |
| Financial fixed assets | 28 | €2,917 | €2,917 | = | 0.0% |
| Current assets | 29/58 | €24,158 | €24,390 | +€232 | +1.0% |
| Amounts receivable within one year | 40/41 | €13,404 | €12,064 | -€1,340 | -10.0% |
| Trade receivables | 40 | €11,870 | €7,014 | -€4,856 | -40.9% |
| Other amounts receivable | 41 | €1,534 | €5,050 | +€3,516 | +229% |
| Cash at bank and in hand | 54/58 | €10,754 | €12,326 | +€1,572 | +14.6% |
| Total equity and liabilities | 10/49 | €236,027 | €343,759 | +€107,732 | +45.6% |
| Equity | 10/15 | €23,791 | €25,442 | +€1,651 | +6.9% |
| Contributions | 10/11 | €46,000 | €46,000 | = | 0.0% |
| Capital | 10 | €46,000 | €46,000 | = | 0.0% |
| Issued capital | 100 | €46,000 | €46,000 | = | 0.0% |
| Reserves | 13 | €712 | €712 | = | 0.0% |
| Non-distributable reserves | 130/1 | €712 | €712 | = | 0.0% |
| Legal reserve | 130 | €712 | €712 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,921 | -€21,270 | +€1,651 | +7.2% |
| Amounts payable | 17/49 | €212,236 | €318,317 | +€106,081 | +50.0% |
| Amounts payable within one year | 42/48 | €212,236 | €318,317 | +€106,081 | +50.0% |
| Financial debts | 43 | €97,134 | €192,216 | +€95,082 | +97.9% |
| Credit institutions | 430/8 | €97,134 | €192,216 | +€95,082 | +97.9% |
| Trade debts | 44 | €49,285 | €57,162 | +€7,877 | +16.0% |
| Suppliers | 440/4 | €49,285 | €57,162 | +€7,877 | +16.0% |
| Advances received on contracts in progress | 46 | €5,483 | - | -€5,483 | |
| Taxes, remuneration and social security | 45 | - | €536 | +€536 | |
| Taxes | 450/3 | - | €536 | +€536 | |
| Other amounts payable | 47/48 | €60,334 | €68,403 | +€8,069 | +13.4% |
| Non-recurring operating income | 76A | €64 | €457 | +€393 | +614% |
| Other operating charges | 640/8 | €740 | €388 | -€352 | -47.6% |
| Non-recurring operating charges | 66A | €34 | €52 | +€18 | +52.9% |
| Gross operating margin | 9900 | -€7,654 | €16,570 | +€24,224 | |
| Operating profit (loss) | 9901 | -€8,428 | €16,130 | +€24,558 | |
| Financial charges | 65/66B | €2,897 | €13,943 | +€11,046 | +381% |
| Recurring financial charges | 65 | €2,897 | €13,943 | +€11,046 | +381% |
| Profit (loss) for the period before taxes | 9903 | -€11,325 | €2,187 | +€13,512 | |
| Income taxes | 67/77 | - | €536 | +€536 | |
| Profit (loss) for the period | 9904 | -€11,325 | €1,651 | +€12,976 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,325 | €1,651 | +€12,976 |
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.