NTHINK: 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.
NTHINK
Largest movements
- Cash -€29,989
down €29,989 (-39.8%), from €75,312 to €45,323
mainly Contributions, distributions and other (-€38,508) and Investment in fixed assets (net) (-€17,762)
- Stocks and contracts +€11,264
new in 2025: €11,264
- Tangible fixed assets -€6,504
down €6,504 (-2.0%), from €317,886 to €311,381
of which Furniture and vehicles: -€12,978
- Receivables within one year -€5,538
down €5,538 (-21.7%), from €25,472 to €19,934
of which Trade receivables: -€4,103
- Reserves -€45,124
down €45,124 (-11.7%), from €384,640 to €339,516
- Trade debts +€18,807
up €18,807 (+371%), from €5,067 to €23,874
- Profit (loss) carried forward +€18,111
up €18,111 (+89.0%), from -€20,347 to -€2,236
- Current portion of long-term debt -€16,667
down €16,667 (-100%), from €16,667 to €0
- Tax, wage and social debts -€6,987
down €6,987 (-62.0%), from €11,272 to €4,286
- Gross operating margin +€34,032
up €34,032 (+653%), from €5,211 to €39,243
- Depreciation +€2,207
up €2,207 (+10.0%), from €22,060 to €24,266
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.
Derived cash bridge
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 | €421,793 | €392,589 | -€29,204 | -6.9% |
| Fixed assets | 21/28 | €317,886 | €311,381 | -€6,504 | -2.0% |
| Tangible fixed assets | 22/27 | €317,886 | €311,381 | -€6,504 | -2.0% |
| Land and buildings | 22 | €252,072 | €249,992 | -€2,080 | -0.8% |
| Plant, machinery and equipment | 23 | €2,900 | €2,492 | -€408 | -14.1% |
| Furniture and vehicles | 24 | €49,676 | €36,698 | -€12,978 | -26.1% |
| Other tangible fixed assets | 26 | €9,737 | €8,699 | -€1,039 | -10.7% |
| Assets under construction and advance payments | 27 | €3,500 | €13,500 | +€10,000 | +286% |
| Current assets | 29/58 | €103,907 | €81,207 | -€22,700 | -21.8% |
| Stocks and contracts in progress | 3 | - | €11,264 | +€11,264 | |
| Stocks | 30/36 | - | €11,264 | +€11,264 | |
| Amounts receivable within one year | 40/41 | €25,472 | €19,934 | -€5,538 | -21.7% |
| Trade receivables | 40 | €18,956 | €14,853 | -€4,103 | -21.6% |
| Other amounts receivable | 41 | €6,516 | €5,081 | -€1,434 | -22.0% |
| Cash at bank and in hand | 54/58 | €75,312 | €45,323 | -€29,989 | -39.8% |
| Deferred charges and accrued income | 490/1 | €3,123 | €4,685 | +€1,562 | +50.0% |
| Total equity and liabilities | 10/49 | €421,793 | €392,589 | -€29,204 | -6.9% |
| Equity | 10/15 | €370,493 | €343,480 | -€27,013 | -7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €384,640 | €339,516 | -€45,124 | -11.7% |
| Distributable reserves | 133 | €384,640 | €339,516 | -€45,124 | -11.7% |
| Profit (loss) carried forward | 14 | -€20,347 | -€2,236 | +€18,111 | +89.0% |
| Amounts payable | 17/49 | €51,300 | €49,109 | -€2,192 | -4.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €50,180 | €47,921 | -€2,259 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €0 | -€16,667 | -100% |
| Trade debts | 44 | €5,067 | €23,874 | +€18,807 | +371% |
| Suppliers | 440/4 | €5,067 | €23,874 | +€18,807 | +371% |
| Taxes, remuneration and social security | 45 | €11,272 | €4,286 | -€6,987 | -62.0% |
| Taxes | 450/3 | €11,272 | €4,286 | -€6,987 | -62.0% |
| Other amounts payable | 47/48 | €17,173 | €19,761 | +€2,588 | +15.1% |
| Accrued charges and deferred income | 492/3 | €1,121 | €1,188 | +€67 | +6.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,060 | €24,266 | +€2,207 | +10.0% |
| Other operating charges | 640/8 | €1,727 | €1,837 | +€110 | +6.4% |
| Gross operating margin | 9900 | €5,211 | €39,243 | +€34,032 | +653% |
| Operating profit (loss) | 9901 | -€18,576 | €13,139 | +€31,715 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,592 | €1,475 | -€117 | -7.3% |
| Recurring financial charges | 65 | €1,592 | €1,475 | -€117 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,168 | €11,664 | +€31,832 | |
| Income taxes | 67/77 | €180 | €169 | -€11 | -6.1% |
| Profit (loss) for the period | 9904 | -€20,347 | €11,495 | +€31,843 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,347 | €11,495 | +€31,843 |
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 17 October 2026 via checked.be.