NT PROJECT: 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.
NT PROJECT
Largest movements
- Receivables within one year +€119,922
up €119,922 (+597.8%), from €20,061 to €139,983
of which Trade receivables: +€82,590
- Cash +€7,779
up €7,779 (+12.3%), from €63,044 to €70,823
mainly Trade debts (+€124,818) and Net result for the year (+€52,584)
- Tangible fixed assets +€5,402
up €5,402 (+7.2%), from €74,888 to €80,290
of which Furniture and vehicles: +€9,232
- Trade debts +€124,818
up €124,818 (+1445.4%), from €8,636 to €133,454
- Advances received -€52,658
no longer reported in 2025 (was €52,658)
- Reserves +€50,000
new in 2025: €50,000
- Tax, wage and social debts +€10,667
up €10,667 (+121.3%), from €8,794 to €19,461
of which Taxes: +€9,930
- Staff costs -€34,166
down €34,166 (-86.6%), from €39,447 to €5,281
- Taxes +€14,230
up €14,230 (+209.7%), from €6,785 to €21,015
- Gross operating margin +€12,704
up €12,704 (+16.8%), from €75,821 to €88,525
- Depreciation +€2,815
up €2,815 (+60.8%), from €4,633 to €7,448
- Financial income +€1,306
up €1,306 (+193.0%), from €677 to €1,983
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 | €158,103 | €293,514 | +€135,411 | +85.6% |
| Fixed assets | 21/28 | €74,998 | €80,400 | +€5,402 | +7.2% |
| Tangible fixed assets | 22/27 | €74,888 | €80,290 | +€5,402 | +7.2% |
| Land and buildings | 22 | €65,892 | €62,062 | -€3,830 | -5.8% |
| Furniture and vehicles | 24 | €8,996 | €18,228 | +€9,232 | +102.6% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €83,105 | €213,114 | +€130,009 | +156.4% |
| Amounts receivable within one year | 40/41 | €20,061 | €139,983 | +€119,922 | +597.8% |
| Trade receivables | 40 | - | €82,590 | +€82,590 | |
| Other amounts receivable | 41 | €20,061 | €57,393 | +€37,332 | +186.1% |
| Cash at bank and in hand | 54/58 | €63,044 | €70,823 | +€7,779 | +12.3% |
| Deferred charges and accrued income | 490/1 | - | €2,308 | +€2,308 | |
| Total equity and liabilities | 10/49 | €158,103 | €293,514 | +€135,411 | +85.6% |
| Equity | 10/15 | €88,016 | €140,600 | +€52,584 | +59.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €50,000 | +€50,000 | |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €81,816 | €84,400 | +€2,584 | +3.2% |
| Amounts payable | 17/49 | €70,087 | €152,914 | +€82,827 | +118.2% |
| Amounts payable within one year | 42/48 | €70,087 | €152,914 | +€82,827 | +118.2% |
| Trade debts | 44 | €8,636 | €133,454 | +€124,818 | +1445.4% |
| Suppliers | 440/4 | €8,636 | €133,454 | +€124,818 | +1445.4% |
| Advances received on contracts in progress | 46 | €52,658 | - | -€52,658 | |
| Taxes, remuneration and social security | 45 | €8,794 | €19,461 | +€10,667 | +121.3% |
| Taxes | 450/3 | €6,785 | €16,715 | +€9,930 | +146.4% |
| Remuneration and social security | 454/9 | €2,009 | €2,746 | +€737 | +36.7% |
| Remuneration, social security and pensions | 62 | €39,447 | €5,281 | -€34,166 | -86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,633 | €7,448 | +€2,815 | +60.8% |
| Other operating charges | 640/8 | €772 | €1,687 | +€915 | +118.6% |
| Gross operating margin | 9900 | €75,821 | €88,525 | +€12,704 | +16.8% |
| Operating profit (loss) | 9901 | €30,969 | €74,110 | +€43,140 | +139.3% |
| Financial income | 75/76B | €677 | €1,983 | +€1,306 | +193.0% |
| Recurring financial income | 75 | €677 | €1,983 | +€1,306 | +193.0% |
| Financial charges | 65/66B | €2,100 | €2,493 | +€394 | +18.7% |
| Recurring financial charges | 65 | €2,100 | €2,493 | +€394 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €29,546 | €73,599 | +€44,053 | +149.1% |
| Income taxes | 67/77 | €6,785 | €21,015 | +€14,230 | +209.7% |
| Profit (loss) for the period | 9904 | €22,761 | €52,584 | +€29,823 | +131.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,761 | €52,584 | +€29,823 | +131.0% |
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 11 October 2026 via checked.be.