NUT: 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.
NUT
Largest movements
- Receivables within one year +€237,821
up €237,821 (+78.4%), from €303,465 to €541,286
of which Other amounts receivable: +€210,516
- Receivables after one year -€110,000
down €110,000 (-50.0%), from €220,000 to €110,000
- Cash -€58,164
down €58,164 (-37.8%), from €153,897 to €95,732
mainly Receivables within one year (-€237,821) and Trade debts (-€19,779)
- Tangible fixed assets -€28,226
down €28,226 (-37.4%), from €75,419 to €47,193
of which Furniture and vehicles: -€26,541
- Accrued charges and deferred income +€60,035
up €60,035 (+42.1%), from €142,670 to €202,704
- Trade debts -€19,779
down €19,779 (-69.0%), from €28,677 to €8,898
- Reserves +€19,750
up €19,750 (+4.3%), from €459,960 to €479,710
of which Distributable reserves: +€19,750
- Debts after one year -€14,004
down €14,004 (-46.8%), from €29,943 to €15,939
- Tax, wage and social debts -€11,677
down €11,677 (-28.2%), from €41,350 to €29,673
of which Taxes: -€13,624
- Staff costs +€19,962
up €19,962 (+16.6%), from €120,202 to €140,165
- Gross operating margin +€6,937
up €6,937 (+3.7%), from €189,172 to €196,109
- Other operating charges -€6,152
down €6,152 (-79.8%), from €7,710 to €1,558
- Financial income -€4,252
down €4,252 (-18.9%), from €22,475 to €18,223
- Taxes -€3,894
down €3,894 (-28.1%), from €13,859 to €9,965
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €761,042 | €800,929 | +€39,887 | +5.2% |
| Fixed assets | 21/28 | €78,269 | €50,043 | -€28,226 | -36.1% |
| Tangible fixed assets | 22/27 | €75,419 | €47,193 | -€28,226 | -37.4% |
| Plant, machinery and equipment | 23 | €85 | €0 | -€85 | -100.0% |
| Furniture and vehicles | 24 | €63,151 | €36,610 | -€26,541 | -42.0% |
| Other tangible fixed assets | 26 | €12,182 | €10,583 | -€1,599 | -13.1% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €682,773 | €750,886 | +€68,112 | +10.0% |
| Amounts receivable after more than one year | 29 | €220,000 | €110,000 | -€110,000 | -50.0% |
| Other amounts receivable | 291 | €220,000 | €110,000 | -€110,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €303,465 | €541,286 | +€237,821 | +78.4% |
| Trade receivables | 40 | €96,504 | €123,810 | +€27,306 | +28.3% |
| Other amounts receivable | 41 | €206,961 | €417,477 | +€210,516 | +101.7% |
| Cash at bank and in hand | 54/58 | €153,897 | €95,732 | -€58,164 | -37.8% |
| Deferred charges and accrued income | 490/1 | €5,411 | €3,867 | -€1,544 | -28.5% |
| Total equity and liabilities | 10/49 | €761,042 | €800,929 | +€39,887 | +5.2% |
| Equity | 10/15 | €479,960 | €499,710 | +€19,750 | +4.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €459,960 | €479,710 | +€19,750 | +4.3% |
| Tax-exempt reserves | 132 | €43,500 | €43,500 | = | 0.0% |
| Distributable reserves | 133 | €416,460 | €436,210 | +€19,750 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €281,082 | €301,219 | +€20,137 | +7.2% |
| Amounts payable after more than one year | 17 | €29,943 | €15,939 | -€14,004 | -46.8% |
| Financial debts | 170/4 | €29,943 | €15,939 | -€14,004 | -46.8% |
| Amounts payable within one year | 42/48 | €108,469 | €82,576 | -€25,893 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €13,357 | €14,004 | +€648 | +4.8% |
| Financial debts | 43 | €25,086 | €30,000 | +€4,914 | +19.6% |
| Credit institutions | 430/8 | €25,086 | €30,000 | +€4,914 | +19.6% |
| Trade debts | 44 | €28,677 | €8,898 | -€19,779 | -69.0% |
| Suppliers | 440/4 | €28,677 | €8,898 | -€19,779 | -69.0% |
| Taxes, remuneration and social security | 45 | €41,350 | €29,673 | -€11,677 | -28.2% |
| Taxes | 450/3 | €15,222 | €1,598 | -€13,624 | -89.5% |
| Remuneration and social security | 454/9 | €26,128 | €28,075 | +€1,947 | +7.5% |
| Accrued charges and deferred income | 492/3 | €142,670 | €202,704 | +€60,035 | +42.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €120,202 | €140,165 | +€19,962 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,805 | €33,228 | +€1,423 | +4.5% |
| Other operating charges | 640/8 | €7,710 | €1,558 | -€6,152 | -79.8% |
| Gross operating margin | 9900 | €189,172 | €196,109 | +€6,937 | +3.7% |
| Operating profit (loss) | 9901 | €29,455 | €21,158 | -€8,297 | -28.2% |
| Financial income | 75/76B | €22,475 | €18,223 | -€4,252 | -18.9% |
| Recurring financial income | 75 | €22,475 | €18,223 | -€4,252 | -18.9% |
| Financial charges | 65/66B | €7,117 | €9,666 | +€2,549 | +35.8% |
| Recurring financial charges | 65 | €7,117 | €9,666 | +€2,549 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €44,812 | €29,715 | -€15,097 | -33.7% |
| Income taxes | 67/77 | €13,859 | €9,965 | -€3,894 | -28.1% |
| Profit (loss) for the period | 9904 | €30,953 | €19,750 | -€11,203 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,953 | €19,750 | -€11,203 | -36.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.