NX Projects: 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.
NX Projects
Largest movements
- Receivables within one year -€164,782
down €164,782 (-54.9%), from €300,346 to €135,564
of which Other amounts receivable: -€279,254
- Tangible fixed assets -€93,192
down €93,192 (-5.0%), from €1.9m to €1.8m
of which Land and buildings: -€96,508
- Deferred charges and accrued income +€34,182
new in 2025: €34,182
- Short-term financial debts -€232,521
no longer reported in 2025 (was €232,521)
- Profit (loss) carried forward +€128,406
up €128,406 (+11.4%), from €1.1m to €1.3m
- Tax, wage and social debts -€43,838
no longer reported in 2025 (was €43,838)
- Trade debts -€25,762
down €25,762 (-55.1%), from €46,751 to €20,989
- Gross operating margin +€76,038
up €76,038 (+35.6%), from €213,843 to €289,881
- Taxes +€12,622
up €12,622 (+31.3%), from €40,378 to €53,000
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 | €2,209,075 | €2,000,839 | -€208,236 | -9.4% |
| Fixed assets | 21/28 | €1,872,731 | €1,779,539 | -€93,192 | -5.0% |
| Tangible fixed assets | 22/27 | €1,872,731 | €1,779,539 | -€93,192 | -5.0% |
| Land and buildings | 22 | €1,413,470 | €1,316,962 | -€96,508 | -6.8% |
| Plant, machinery and equipment | 23 | €1,847 | - | -€1,847 | |
| Other tangible fixed assets | 26 | €457,414 | €462,577 | +€5,163 | +1.1% |
| Current assets | 29/58 | €336,344 | €221,300 | -€115,044 | -34.2% |
| Amounts receivable within one year | 40/41 | €300,346 | €135,564 | -€164,782 | -54.9% |
| Trade receivables | 40 | €14,846 | €129,318 | +€114,472 | +771.0% |
| Other amounts receivable | 41 | €285,500 | €6,246 | -€279,254 | -97.8% |
| Cash at bank and in hand | 54/58 | €35,998 | €51,554 | +€15,556 | +43.2% |
| Deferred charges and accrued income | 490/1 | - | €34,182 | +€34,182 | |
| Total equity and liabilities | 10/49 | €2,209,075 | €2,000,839 | -€208,236 | -9.4% |
| Equity | 10/15 | €1,807,495 | €1,917,096 | +€109,601 | +6.1% |
| Contributions | 10/11 | €431,500 | €431,500 | = | 0.0% |
| Capital | 10 | €431,500 | €431,500 | = | 0.0% |
| Issued capital | 100 | €431,500 | €431,500 | = | 0.0% |
| Revaluation surpluses | 12 | €67,117 | €62,743 | -€4,374 | -6.5% |
| Reserves | 13 | €179,748 | €165,316 | -€14,432 | -8.0% |
| Non-distributable reserves | 130/1 | €43,150 | €43,150 | = | 0.0% |
| Legal reserve | 130 | €43,150 | €43,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,103 | €100,297 | -€18,806 | -15.8% |
| Distributable reserves | 133 | €17,495 | €21,869 | +€4,374 | +25.0% |
| Profit (loss) carried forward | 14 | €1,129,131 | €1,257,537 | +€128,406 | +11.4% |
| Provisions and deferred taxes | 16 | €39,701 | €33,432 | -€6,269 | -15.8% |
| Deferred taxes | 168 | €39,701 | €33,432 | -€6,269 | -15.8% |
| Amounts payable | 17/49 | €361,878 | €50,311 | -€311,567 | -86.1% |
| Amounts payable within one year | 42/48 | €323,110 | €20,989 | -€302,121 | -93.5% |
| Financial debts | 43 | €232,521 | - | -€232,521 | |
| Other loans | 439 | €232,521 | - | -€232,521 | |
| Trade debts | 44 | €46,751 | €20,989 | -€25,762 | -55.1% |
| Suppliers | 440/4 | €46,751 | €20,989 | -€25,762 | -55.1% |
| Taxes, remuneration and social security | 45 | €43,838 | - | -€43,838 | |
| Taxes | 450/3 | €43,838 | - | -€43,838 | |
| Accrued charges and deferred income | 492/3 | €38,769 | €29,322 | -€9,447 | -24.4% |
| Non-recurring operating income | 76A | €21,813 | €21,814 | +€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,005 | €115,005 | +€0 | 0.0% |
| Other operating charges | 640/8 | €18,585 | €18,168 | -€417 | -2.2% |
| Gross operating margin | 9900 | €213,843 | €289,881 | +€76,038 | +35.6% |
| Operating profit (loss) | 9901 | €80,253 | €156,708 | +€76,455 | +95.3% |
| Financial charges | 65/66B | €318 | €377 | +€59 | +18.5% |
| Recurring financial charges | 65 | €318 | €377 | +€59 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €79,935 | €156,331 | +€76,396 | +95.6% |
| Transfer from deferred taxes | 780 | €6,269 | €6,269 | +€0 | 0.0% |
| Income taxes | 67/77 | €40,378 | €53,000 | +€12,622 | +31.3% |
| Profit (loss) for the period | 9904 | €45,825 | €109,600 | +€63,775 | +139.2% |
| Transfer from tax-exempt reserves | 789 | €18,806 | €18,806 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,631 | €128,406 | +€63,775 | +98.7% |
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 9 October 2026 via checked.be.