NTN: 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.
NTN
Largest movements
- Receivables within one year +€18,538
up €18,538 (+661%), from €2,804 to €21,342
of which Trade receivables: +€17,024
- Tangible fixed assets +€16,721
up €16,721 (+25.7%), from €65,106 to €81,827
of which Furniture and vehicles: +€17,273
- Deferred charges and accrued income +€4,529
new in 2025: €4,529
- Cash +€4,174
up €4,174 (+49.2%), from €8,491 to €12,664
mainly Net result for the year (+€38,093) and Trade debts (+€23,535)
- Profit (loss) carried forward +€38,093
up €38,093 (+97.3%), from €39,169 to €77,262
- Other debts -€25,242
no longer reported in 2025 (was €25,242)
- Trade debts +€23,535
up €23,535 (+1,522%), from €1,546 to €25,081
- Tax, wage and social debts +€7,575
up €7,575 (+139%), from €5,443 to €13,019
of which Taxes: +€4,959
- Purchases and services -€70,720
no longer reported in 2025 (was €70,720)
- Gross operating margin +€28,437
up €28,437 (+34.1%), from €83,475 to €111,912
- Staff costs +€13,500
up €13,500 (+44.0%), from €30,659 to €44,160
- Taxes +€8,902
up €8,902 (+169%), from €5,257 to €14,159
- Depreciation +€5,288
up €5,288 (+70.3%), from €7,523 to €12,812
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 | €76,400 | €120,362 | +€43,961 | +57.5% |
| Fixed assets | 21/28 | €65,106 | €81,827 | +€16,721 | +25.7% |
| Tangible fixed assets | 22/27 | €65,106 | €81,827 | +€16,721 | +25.7% |
| Plant, machinery and equipment | 23 | €5,214 | €4,662 | -€552 | -10.6% |
| Furniture and vehicles | 24 | €59,892 | €77,164 | +€17,273 | +28.8% |
| Current assets | 29/58 | €11,294 | €38,535 | +€27,241 | +241% |
| Amounts receivable within one year | 40/41 | €2,804 | €21,342 | +€18,538 | +661% |
| Trade receivables | 40 | - | €17,024 | +€17,024 | |
| Other amounts receivable | 41 | €2,804 | €4,318 | +€1,514 | +54.0% |
| Cash at bank and in hand | 54/58 | €8,491 | €12,664 | +€4,174 | +49.2% |
| Deferred charges and accrued income | 490/1 | - | €4,529 | +€4,529 | |
| Total equity and liabilities | 10/49 | €76,400 | €120,362 | +€43,961 | +57.5% |
| Equity | 10/15 | €44,169 | €82,262 | +€38,093 | +86.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | - | €5,000 | +€5,000 | |
| Issued capital | 100 | - | €5,000 | +€5,000 | |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €39,169 | €77,262 | +€38,093 | +97.3% |
| Amounts payable | 17/49 | €32,231 | €38,099 | +€5,868 | +18.2% |
| Amounts payable within one year | 42/48 | €32,231 | €38,099 | +€5,868 | +18.2% |
| Trade debts | 44 | €1,546 | €25,081 | +€23,535 | +1,522% |
| Suppliers | 440/4 | €1,546 | €25,081 | +€23,535 | +1,522% |
| Taxes, remuneration and social security | 45 | €5,443 | €13,019 | +€7,575 | +139% |
| Taxes | 450/3 | €5,257 | €10,216 | +€4,959 | +94.3% |
| Remuneration and social security | 454/9 | €186 | €2,803 | +€2,617 | +1,407% |
| Other amounts payable | 47/48 | €25,242 | - | -€25,242 | |
| Goods, raw materials, services and sundry goods | 60/61 | €70,720 | - | -€70,720 | |
| Remuneration, social security and pensions | 62 | €30,659 | €44,160 | +€13,500 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,523 | €12,812 | +€5,288 | +70.3% |
| Other operating charges | 640/8 | €645 | €2,602 | +€1,957 | +303% |
| Gross operating margin | 9900 | €83,475 | €111,912 | +€28,437 | +34.1% |
| Operating profit (loss) | 9901 | €44,648 | €52,339 | +€7,692 | +17.2% |
| Financial income | 75/76B | €6 | €96 | +€90 | +1,630% |
| Recurring financial income | 75 | €6 | €96 | +€90 | +1,630% |
| Financial charges | 65/66B | €226 | €183 | -€43 | -19.1% |
| Recurring financial charges | 65 | €226 | €183 | -€43 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €44,427 | €52,252 | +€7,825 | +17.6% |
| Income taxes | 67/77 | €5,257 | €14,159 | +€8,902 | +169% |
| Profit (loss) for the period | 9904 | €39,169 | €38,093 | -€1,077 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,169 | €38,093 | -€1,077 | -2.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.