TEAM NSR: 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.
TEAM NSR
Largest movements
- Cash +€60,652
up €60,652 (+279%), from €21,776 to €82,427
mainly Net result for the year (+€69,016) and Other debts (+€25,357)
- Receivables within one year -€24,710
down €24,710 (-77.7%), from €31,796 to €7,086
of which Trade receivables: -€29,723
- Deferred charges and accrued income +€21,760
up €21,760 (+1,010%), from €2,155 to €23,915
- Other debts +€25,357
up €25,357 (+224%), from €11,341 to €36,698
- Reserves +€18,900
up €18,900 (+1,016%), from €1,860 to €20,760
of which Distributable reserves: +€18,900
- Tax, wage and social debts +€15,383
up €15,383 (+147%), from €10,449 to €25,832
of which Taxes: +€15,000
- Trade debts -€2,522
down €2,522 (-94.2%), from €2,678 to €156
- Gross operating margin +€88,041
up €88,041 (+127%), from €69,196 to €157,236
- Taxes +€24,413
up €24,413 (+817%), from €2,986 to €27,400
- Financial charges +€13,868
up €13,868 (+8,234%), from €168 to €14,036
of which Non-recurring financial charges: +€13,733
- Write-downs -€11,824
new in 2025: -€11,824
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 | €56,194 | €113,429 | +€57,235 | +102% |
| Fixed assets | 21/28 | €467 | €0 | -€467 | -100% |
| Tangible fixed assets | 22/27 | €467 | €0 | -€467 | -100% |
| Furniture and vehicles | 24 | €467 | €0 | -€467 | -100% |
| Current assets | 29/58 | €55,727 | €113,429 | +€57,702 | +104% |
| Amounts receivable within one year | 40/41 | €31,796 | €7,086 | -€24,710 | -77.7% |
| Trade receivables | 40 | €30,211 | €488 | -€29,723 | -98.4% |
| Other amounts receivable | 41 | €1,586 | €6,598 | +€5,013 | +316% |
| Cash at bank and in hand | 54/58 | €21,776 | €82,427 | +€60,652 | +279% |
| Deferred charges and accrued income | 490/1 | €2,155 | €23,915 | +€21,760 | +1,010% |
| Total equity and liabilities | 10/49 | €56,194 | €113,429 | +€57,235 | +102% |
| Equity | 10/15 | €31,726 | €50,742 | +€19,016 | +59.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €20,760 | +€18,900 | +1,016% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €18,900 | +€18,900 | |
| Profit (loss) carried forward | 14 | €23,666 | €23,782 | +€116 | +0.5% |
| Amounts payable | 17/49 | €24,468 | €62,687 | +€38,219 | +156% |
| Amounts payable within one year | 42/48 | €24,468 | €62,687 | +€38,219 | +156% |
| Trade debts | 44 | €2,678 | €156 | -€2,522 | -94.2% |
| Suppliers | 440/4 | €2,678 | €156 | -€2,522 | -94.2% |
| Taxes, remuneration and social security | 45 | €10,449 | €25,832 | +€15,383 | +147% |
| Taxes | 450/3 | - | €15,000 | +€15,000 | |
| Remuneration and social security | 454/9 | €10,449 | €10,832 | +€383 | +3.7% |
| Other amounts payable | 47/48 | €11,341 | €36,698 | +€25,357 | +224% |
| Remuneration, social security and pensions | 62 | €54,905 | €56,102 | +€1,196 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,228 | €467 | -€761 | -62.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€11,824 | -€11,824 | |
| Other operating charges | 640/8 | €1,049 | €2,040 | +€990 | +94.4% |
| Gross operating margin | 9900 | €69,196 | €157,236 | +€88,041 | +127% |
| Operating profit (loss) | 9901 | €12,013 | €110,452 | +€98,439 | +819% |
| Financial charges | 65/66B | €168 | €14,036 | +€13,868 | +8,234% |
| Recurring financial charges | 65 | €168 | €303 | +€134 | +79.8% |
| Non-recurring financial charges | 66B | - | €13,733 | +€13,733 | |
| Profit (loss) for the period before taxes | 9903 | €11,845 | €96,415 | +€84,571 | +714% |
| Income taxes | 67/77 | €2,986 | €27,400 | +€24,413 | +817% |
| Profit (loss) for the period | 9904 | €8,858 | €69,016 | +€60,158 | +679% |
| Profit (loss) for the period to be appropriated | 9905 | €8,858 | €69,016 | +€60,158 | +679% |
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 15 October 2026 via checked.be.