NST 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.
NST Immo
Largest movements
- Cash +€43,088
up €43,088 (+59.1%), from €72,931 to €116,019
mainly Net result for the year (+€54,513) and Debts after one year (+€35,867)
- Intangible fixed assets -€15,000
down €15,000 (-12.5%), from €119,981 to €104,981
- Receivables within one year +€9,300
up €9,300 (+1590.3%), from €585 to €9,884
of which Trade receivables: +€8,029
- Tangible fixed assets -€6,250
down €6,250 (-50.0%), from €12,492 to €6,242
- Other debts -€57,589
down €57,589 (-40.9%), from €140,947 to €83,359
- Profit (loss) carried forward +€54,513
up €54,513 (+155.1%), from €35,156 to €89,669
- Debts after one year +€35,867
new in 2025: €35,867
- Tax, wage and social debts -€9,575
down €9,575 (-44.9%), from €21,310 to €11,735
- Current portion of long-term debt +€9,501
new in 2025: €9,501
- Gross operating margin +€52,168
up €52,168 (+120.2%), from €43,393 to €95,561
- Taxes +€10,203
up €10,203 (+221.4%), from €4,609 to €14,812
- Financial charges +€1,748
up €1,748 (+77.2%), from €2,265 to €4,013
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 | €205,989 | €238,457 | +€32,468 | +15.8% |
| Fixed assets | 21/28 | €132,473 | €111,223 | -€21,250 | -16.0% |
| Intangible fixed assets | 21 | €119,981 | €104,981 | -€15,000 | -12.5% |
| Tangible fixed assets | 22/27 | €12,492 | €6,242 | -€6,250 | -50.0% |
| Furniture and vehicles | 24 | €12,492 | €6,242 | -€6,250 | -50.0% |
| Current assets | 29/58 | €73,516 | €127,234 | +€53,718 | +73.1% |
| Amounts receivable within one year | 40/41 | €585 | €9,884 | +€9,300 | +1590.3% |
| Trade receivables | 40 | €585 | €8,614 | +€8,029 | +1373.0% |
| Other amounts receivable | 41 | - | €1,270 | +€1,270 | |
| Cash at bank and in hand | 54/58 | €72,931 | €116,019 | +€43,088 | +59.1% |
| Deferred charges and accrued income | 490/1 | - | €1,331 | +€1,331 | |
| Total equity and liabilities | 10/49 | €205,989 | €238,457 | +€32,468 | +15.8% |
| Equity | 10/15 | €40,156 | €94,669 | +€54,513 | +135.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,156 | €89,669 | +€54,513 | +155.1% |
| Amounts payable | 17/49 | €165,832 | €143,788 | -€22,045 | -13.3% |
| Amounts payable after more than one year | 17 | - | €35,867 | +€35,867 | |
| Financial debts | 170/4 | - | €35,867 | +€35,867 | |
| Amounts payable within one year | 42/48 | €164,358 | €105,931 | -€58,427 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,501 | +€9,501 | |
| Trade debts | 44 | €2,101 | €1,337 | -€764 | -36.4% |
| Suppliers | 440/4 | €2,101 | €1,337 | -€764 | -36.4% |
| Taxes, remuneration and social security | 45 | €21,310 | €11,735 | -€9,575 | -44.9% |
| Taxes | 450/3 | €21,310 | €11,735 | -€9,575 | -44.9% |
| Other amounts payable | 47/48 | €140,947 | €83,359 | -€57,589 | -40.9% |
| Accrued charges and deferred income | 492/3 | €1,474 | €1,990 | +€516 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,250 | €21,250 | = | 0.0% |
| Other operating charges | 640/8 | €1,401 | €1,246 | -€155 | -11.0% |
| Gross operating margin | 9900 | €43,393 | €95,561 | +€52,168 | +120.2% |
| Operating profit (loss) | 9901 | €20,743 | €73,065 | +€52,322 | +252.2% |
| Financial income | 75/76B | €24 | €273 | +€249 | +1022.4% |
| Recurring financial income | 75 | €24 | €273 | +€249 | +1022.4% |
| Financial charges | 65/66B | €2,265 | €4,013 | +€1,748 | +77.2% |
| Recurring financial charges | 65 | €2,265 | €4,013 | +€1,748 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | €18,502 | €69,325 | +€50,823 | +274.7% |
| Income taxes | 67/77 | €4,609 | €14,812 | +€10,203 | +221.4% |
| Profit (loss) for the period | 9904 | €13,893 | €54,513 | +€40,620 | +292.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,893 | €54,513 | +€40,620 | +292.4% |
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.