NTH: 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.
NTH
Largest movements
- Tangible fixed assets -€15,243
down €15,243 (-2.1%), from €741,493 to €726,250
of which Land and buildings: -€19,861
- Profit (loss) carried forward -€53,004
down €53,004 (-67.7%), from -€78,335 to -€131,339
- Other debts +€36,395
up €36,395 (+10.1%), from €361,047 to €397,442
- Trade debts +€13,571
new in 2025: €13,571
- Debts after one year -€13,554
down €13,554 (-5.9%), from €230,271 to €216,716
of which Financial debts: -€13,554
- Depreciation -€10,860
down €10,860 (-31.9%), from €34,034 to €23,174
- Gross operating margin +€7,509
up €7,509 (+29.7%), from -€25,297 to -€17,788
- Financial charges -€5,454
down €5,454 (-38.0%), from €14,362 to €8,908
- Other operating charges -€1,508
down €1,508 (-32.5%), from €4,642 to €3,135
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 | €850,058 | €833,945 | -€16,114 | -1.9% |
| Fixed assets | 21/28 | €833,840 | €815,666 | -€18,174 | -2.2% |
| Intangible fixed assets | 21 | €92,347 | €89,417 | -€2,931 | -3.2% |
| Tangible fixed assets | 22/27 | €741,493 | €726,250 | -€15,243 | -2.1% |
| Land and buildings | 22 | €741,493 | €721,632 | -€19,861 | -2.7% |
| Plant, machinery and equipment | 23 | - | €4,618 | +€4,618 | |
| Current assets | 29/58 | €16,219 | €18,279 | +€2,060 | +12.7% |
| Amounts receivable within one year | 40/41 | €11,926 | €14,105 | +€2,180 | +18.3% |
| Trade receivables | 40 | €7,583 | €8,633 | +€1,050 | +13.8% |
| Other amounts receivable | 41 | €4,343 | €5,472 | +€1,129 | +26.0% |
| Cash at bank and in hand | 54/58 | €3,365 | €3,255 | -€110 | -3.3% |
| Deferred charges and accrued income | 490/1 | €928 | €919 | -€9 | -1.0% |
| Total equity and liabilities | 10/49 | €850,058 | €833,945 | -€16,114 | -1.9% |
| Equity | 10/15 | €245,665 | €192,661 | -€53,004 | -21.6% |
| Contributions | 10/11 | €324,000 | €324,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,335 | -€131,339 | -€53,004 | -67.7% |
| Amounts payable | 17/49 | €604,394 | €641,284 | +€36,890 | +6.1% |
| Amounts payable after more than one year | 17 | €230,271 | €216,716 | -€13,554 | -5.9% |
| Financial debts | 170/4 | €229,511 | €215,956 | -€13,554 | -5.9% |
| Other amounts payable | 178/9 | €760 | €760 | = | 0.0% |
| Amounts payable within one year | 42/48 | €374,123 | €424,567 | +€50,445 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €13,076 | €13,554 | +€479 | +3.7% |
| Trade debts | 44 | - | €13,571 | +€13,571 | |
| Suppliers | 440/4 | - | €13,571 | +€13,571 | |
| Other amounts payable | 47/48 | €361,047 | €397,442 | +€36,395 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,034 | €23,174 | -€10,860 | -31.9% |
| Other operating charges | 640/8 | €4,642 | €3,135 | -€1,508 | -32.5% |
| Gross operating margin | 9900 | -€25,297 | -€17,788 | +€7,509 | +29.7% |
| Operating profit (loss) | 9901 | -€63,973 | -€44,096 | +€19,877 | +31.1% |
| Financial charges | 65/66B | €14,362 | €8,908 | -€5,454 | -38.0% |
| Recurring financial charges | 65 | €14,362 | €8,908 | -€5,454 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | -€78,335 | -€53,004 | +€25,331 | +32.3% |
| Profit (loss) for the period | 9904 | -€78,335 | -€53,004 | +€25,331 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,335 | -€53,004 | +€25,331 | +32.3% |
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 29 September 2026 via checked.be.