NITRAM: 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.
NITRAM
Largest movements
- Current investments -€85,000
down €85,000 (-68.0%), from €125,000 to €40,000
- Cash -€11,077
down €11,077 (-43.1%), from €25,701 to €14,624
mainly Contributions, distributions and other (-€150,000) and Smaller working-capital items (-€132)
- Profit (loss) carried forward -€100,010
down €100,010 (-64.6%), from €154,745 to €54,735
- Tax, wage and social debts +€3,240
up €3,240 (+53.2%), from €6,086 to €9,325
- Gross operating margin +€14,884
up €14,884 (+30.5%), from €48,803 to €63,687
- Taxes +€2,993
up €2,993 (+26.5%), from €11,286 to €14,279
- Financial income -€1,363
down €1,363 (-43.7%), from €3,121 to €1,758
- Financial charges -€1,159
down €1,159 (-83.9%), from €1,381 to €222
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 | €169,792 | €73,207 | -€96,586 | -56.9% |
| Fixed assets | 21/28 | €2,205 | €1,380 | -€825 | -37.4% |
| Tangible fixed assets | 22/27 | €2,205 | €1,380 | -€825 | -37.4% |
| Furniture and vehicles | 24 | €2,205 | €1,380 | -€825 | -37.4% |
| Current assets | 29/58 | €167,587 | €71,827 | -€95,760 | -57.1% |
| Amounts receivable within one year | 40/41 | €16,885 | €17,202 | +€317 | +1.9% |
| Trade receivables | 40 | €12,826 | €13,552 | +€726 | +5.7% |
| Other amounts receivable | 41 | €4,059 | €3,650 | -€409 | -10.1% |
| Current investments | 50/53 | €125,000 | €40,000 | -€85,000 | -68.0% |
| Cash at bank and in hand | 54/58 | €25,701 | €14,624 | -€11,077 | -43.1% |
| Total equity and liabilities | 10/49 | €169,792 | €73,207 | -€96,586 | -56.9% |
| Equity | 10/15 | €159,745 | €59,735 | -€100,010 | -62.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,745 | €54,735 | -€100,010 | -64.6% |
| Amounts payable | 17/49 | €10,047 | €13,472 | +€3,424 | +34.1% |
| Amounts payable within one year | 42/48 | €10,047 | €13,472 | +€3,424 | +34.1% |
| Trade debts | 44 | €349 | €327 | -€22 | -6.3% |
| Suppliers | 440/4 | €349 | €327 | -€22 | -6.3% |
| Taxes, remuneration and social security | 45 | €6,086 | €9,325 | +€3,240 | +53.2% |
| Taxes | 450/3 | €6,086 | €9,325 | +€3,240 | +53.2% |
| Other amounts payable | 47/48 | €3,613 | €3,819 | +€207 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €825 | €825 | = | 0.0% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €48,803 | €63,687 | +€14,884 | +30.5% |
| Operating profit (loss) | 9901 | €47,852 | €62,734 | +€14,882 | +31.1% |
| Financial income | 75/76B | €3,121 | €1,758 | -€1,363 | -43.7% |
| Recurring financial income | 75 | €3,121 | €1,758 | -€1,363 | -43.7% |
| Financial charges | 65/66B | €1,381 | €222 | -€1,159 | -83.9% |
| Recurring financial charges | 65 | €1,381 | €222 | -€1,159 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €49,591 | €64,269 | +€14,678 | +29.6% |
| Income taxes | 67/77 | €11,286 | €14,279 | +€2,993 | +26.5% |
| Profit (loss) for the period | 9904 | €38,306 | €49,990 | +€11,684 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,306 | €49,990 | +€11,684 | +30.5% |
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 28 October 2026 via checked.be.