NUHMA DC: 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.
What changed
NUHMA DC
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · -€1.5m+€268,513
Equity
€31.8m
2024 · €26.3m+€5.5m
Cash
€87,660
2024 · €20,976+€66,684
Balance sheet total
€52.3m
2024 · €65.1m-€12.8m
Largest movements
Assets
- Financial fixed assets -€12.4m
down €12.4m (-19.7%), from €63.0m to €50.7m
of which Other financial fixed assets: -€10.9m
Equity and liabilities
- Debts after one year -€17.9m
down €17.9m (-48.0%), from €37.2m to €19.4m
- Revaluation surpluses +€6.8m
up €6.8m (+2,663%), from €253,511 to €7.0m
- Profit (loss) carried forward -€1.2m
down €1.2m (-22.0%), from -€5.5m to -€6.7m
Income statement
- Financial income +€2.8m
up €2.8m (+76.7%), from €3.7m to €6.5m
of which Non-recurring financial income: +€3.2m
- Financial charges +€2.5m
up €2.5m (+49.7%), from €5.1m to €7.7m
of which Non-recurring financial charges: +€2.5m
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.
Result 2024
-€1.5m
Depreciation
+€227
Other operating charges
+€115
Other operating items
+€5,169
Financial income
+€2.8m
Financial charges
-€2.5m
Result 2025
-€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.2m
Investment
+€12.4m
Financing
-€11.1m
Cash 2024
€20,976
From operations (derived)
-€1.2m
Net result for the year
-€1.2m
Receivables after one year
+€260,160
Receivables within one year
+€175,861
Smaller working-capital items
+€84
Other debts
-€440,327
Investment (derived)
+€12.4m
Investment in fixed assets (net)
+€12.4m
Financing
-€11.1m
Debts after one year
-€17.9m
Contributions, distributions and other
+€6.8m
Cash 2025
€87,660
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,080,177 | €52,319,175 | -€12.8m | -19.6% |
| Fixed assets | 21/28 | €63,044,651 | €50,652,986 | -€12.4m | -19.7% |
| Financial fixed assets | 28 | €63,044,651 | €50,652,986 | -€12.4m | -19.7% |
| Affiliated companies | 280/1 | €30,589,683 | €26,563,918 | -€4.0m | -13.2% |
| Participating interests | 280 | €21,085,059 | €16,633,211 | -€4.5m | -21.1% |
| Amounts receivable | 281 | €9,504,624 | €9,930,708 | +€426,084 | +4.5% |
| Companies linked by participating interests | 282/3 | €8,067,950 | €10,562,828 | +€2.5m | +30.9% |
| Participating interests | 282 | €5,129,335 | €5,323,307 | +€193,973 | +3.8% |
| Amounts receivable | 283 | €2,938,616 | €5,239,521 | +€2.3m | +78.3% |
| Other financial fixed assets | 284/8 | €24,387,018 | €13,526,240 | -€10.9m | -44.5% |
| Shares | 284 | €3,972,193 | €12,781,826 | +€8.8m | +222% |
| Amounts receivable and cash guarantees | 285/8 | €20,414,825 | €744,413 | -€19.7m | -96.4% |
| Current assets | 29/58 | €2,035,526 | €1,666,189 | -€369,337 | -18.1% |
| Amounts receivable after more than one year | 29 | €1,838,269 | €1,578,109 | -€260,160 | -14.2% |
| Other amounts receivable | 291 | €1,838,269 | €1,578,109 | -€260,160 | -14.2% |
| Amounts receivable within one year | 40/41 | €176,281 | €420 | -€175,861 | -99.8% |
| Other amounts receivable | 41 | €176,281 | €420 | -€175,861 | -99.8% |
| Cash at bank and in hand | 54/58 | €20,976 | €87,660 | +€66,684 | +318% |
| Total equity and liabilities | 10/49 | €65,080,177 | €52,319,175 | -€12.8m | -19.6% |
| Equity | 10/15 | €26,264,361 | €31,807,278 | +€5.5m | +21.1% |
| Contributions | 10/11 | €31,500,000 | €31,500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €253,511 | €7,004,192 | +€6.8m | +2,663% |
| Profit (loss) carried forward | 14 | -€5,489,151 | -€6,696,914 | -€1.2m | -22.0% |
| Amounts payable | 17/49 | €38,815,817 | €20,511,898 | -€18.3m | -47.2% |
| Amounts payable after more than one year | 17 | €37,242,524 | €19,378,846 | -€17.9m | -48.0% |
| Financial debts | 170/4 | €37,242,524 | €19,378,846 | -€17.9m | -48.0% |
| Other loans | 174 | €37,242,524 | €19,378,846 | -€17.9m | -48.0% |
| Amounts payable within one year | 42/48 | €1,573,293 | €1,133,051 | -€440,242 | -28.0% |
| Trade debts | 44 | €3,157 | €2,829 | -€327 | -10.4% |
| Suppliers | 440/4 | €3,157 | €2,829 | -€327 | -10.4% |
| Taxes, remuneration and social security | 45 | - | €412 | +€412 | |
| Taxes | 450/3 | - | €412 | +€412 | |
| Other amounts payable | 47/48 | €1,570,136 | €1,129,810 | -€440,327 | -28.0% |
| Operating charges | 60/66A | €17,307 | €11,796 | -€5,511 | -31.8% |
| Services and other goods | 61 | €15,364 | €10,195 | -€5,169 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | - | -€227 | |
| Other operating charges | 640/8 | €1,716 | €1,601 | -€115 | -6.7% |
| Operating profit (loss) | 9901 | -€17,307 | -€11,796 | +€5,511 | +31.8% |
| Financial income | 75/76B | €3,662,278 | €6,472,480 | +€2.8m | +76.7% |
| Recurring financial income | 75 | €1,463,945 | €1,078,331 | -€385,613 | -26.3% |
| Income from financial fixed assets | 750 | €1,463,945 | €1,078,331 | -€385,613 | -26.3% |
| Non-recurring financial income | 76B | €2,198,333 | €5,394,149 | +€3.2m | +145% |
| Financial charges | 65/66B | €5,121,247 | €7,668,448 | +€2.5m | +49.7% |
| Recurring financial charges | 65 | €1,576,027 | €1,650,848 | +€74,821 | +4.7% |
| Debt charges | 650 | €1,575,927 | €1,650,723 | +€74,796 | +4.7% |
| Other financial charges | 652/9 | €100 | €125 | +€25 | +25.1% |
| Non-recurring financial charges | 66B | €3,545,220 | €6,017,599 | +€2.5m | +69.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,476,276 | -€1,207,764 | +€268,513 | +18.2% |
| Profit (loss) for the period | 9904 | -€1,476,276 | -€1,207,764 | +€268,513 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,476,276 | -€1,207,764 | +€268,513 | +18.2% |
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 18 October 2026 via checked.be.