NxM: 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.
NxM
Largest movements
- Tangible fixed assets -€71,554
down €71,554 (-15.5%), from €460,497 to €388,943
of which Furniture and vehicles: -€36,467
- Receivables within one year -€8,390
down €8,390 (-60.1%), from €13,966 to €5,576
- Cash +€6,950
up €6,950 (+15.2%), from €45,776 to €52,727
mainly Depreciation (+€72,279) and Receivables within one year (+€8,390)
- Debts after one year -€83,911
down €83,911 (-31.9%), from €263,436 to €179,525
- Tax, wage and social debts +€7,693
up €7,693 (+29.9%), from €25,727 to €33,420
of which Remuneration and social security: +€6,510
- Staff costs +€44,838
up €44,838 (+39.1%), from €114,685 to €159,523
- Gross operating margin +€28,447
up €28,447 (+13.1%), from €217,289 to €245,736
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 | €543,758 | €468,504 | -€75,253 | -13.8% |
| Fixed assets | 21/28 | €473,714 | €401,502 | -€72,213 | -15.2% |
| Intangible fixed assets | 21 | €1,917 | €1,259 | -€658 | -34.3% |
| Tangible fixed assets | 22/27 | €460,497 | €388,943 | -€71,554 | -15.5% |
| Plant, machinery and equipment | 23 | €359,694 | €324,608 | -€35,087 | -9.8% |
| Furniture and vehicles | 24 | €100,803 | €64,335 | -€36,467 | -36.2% |
| Financial fixed assets | 28 | €11,300 | €11,300 | = | 0.0% |
| Current assets | 29/58 | €70,043 | €67,002 | -€3,041 | -4.3% |
| Stocks and contracts in progress | 3 | €4,967 | €3,997 | -€970 | -19.5% |
| Stocks | 30/36 | €4,967 | €3,997 | -€970 | -19.5% |
| Amounts receivable within one year | 40/41 | €13,966 | €5,576 | -€8,390 | -60.1% |
| Trade receivables | 40 | €13,966 | €5,576 | -€8,390 | -60.1% |
| Cash at bank and in hand | 54/58 | €45,776 | €52,727 | +€6,950 | +15.2% |
| Deferred charges and accrued income | 490/1 | €5,334 | €4,703 | -€631 | -11.8% |
| Total equity and liabilities | 10/49 | €543,758 | €468,504 | -€75,253 | -13.8% |
| Equity | 10/15 | -€111,998 | -€112,875 | -€877 | -0.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,998 | -€162,875 | -€877 | -0.5% |
| Amounts payable | 17/49 | €655,756 | €581,379 | -€74,376 | -11.3% |
| Amounts payable after more than one year | 17 | €263,436 | €179,525 | -€83,911 | -31.9% |
| Financial debts | 170/4 | €263,436 | €179,525 | -€83,911 | -31.9% |
| Amounts payable within one year | 42/48 | €392,320 | €401,634 | +€9,314 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €81,040 | €83,911 | +€2,872 | +3.5% |
| Trade debts | 44 | €66,081 | €64,831 | -€1,250 | -1.9% |
| Suppliers | 440/4 | €66,081 | €64,831 | -€1,250 | -1.9% |
| Taxes, remuneration and social security | 45 | €25,727 | €33,420 | +€7,693 | +29.9% |
| Taxes | 450/3 | €10,915 | €12,098 | +€1,183 | +10.8% |
| Remuneration and social security | 454/9 | €14,812 | €21,322 | +€6,510 | +44.0% |
| Other amounts payable | 47/48 | €219,472 | €219,471 | -€1 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €221 | +€221 | |
| Remuneration, social security and pensions | 62 | €114,685 | €159,523 | +€44,838 | +39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,519 | €72,279 | -€240 | -0.3% |
| Other operating charges | 640/8 | €1,819 | €1,452 | -€367 | -20.2% |
| Non-recurring operating charges | 66A | €100 | €0 | -€100 | -100.0% |
| Gross operating margin | 9900 | €217,289 | €245,736 | +€28,447 | +13.1% |
| Operating profit (loss) | 9901 | €28,166 | €12,482 | -€15,684 | -55.7% |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Financial charges | 65/66B | €14,563 | €13,046 | -€1,517 | -10.4% |
| Recurring financial charges | 65 | €14,563 | €13,046 | -€1,517 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €13,629 | -€564 | -€14,193 | |
| Income taxes | 67/77 | €336 | €313 | -€23 | -6.8% |
| Profit (loss) for the period | 9904 | €13,293 | -€877 | -€14,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,293 | -€877 | -€14,170 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.