Nburo: 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.
Nburo
Largest movements
- Tangible fixed assets -€353,894
down €353,894 (-15.7%), from €2.3m to €1.9m
of which Land and buildings: -€313,770
- Cash +€118,507
up €118,507 (+3,070%), from €3,861 to €122,368
mainly Investment in fixed assets (net) (+€265,405) and Net result for the year (+€182,178)
- Receivables within one year +€34,502
up €34,502 (+10,967%), from €315 to €34,816
of which Other amounts receivable: +€24,453
- Other debts -€319,406
down €319,406 (-40.9%), from €781,813 to €462,406
- Reserves +€182,178
up €182,178 (+105%), from €173,780 to €355,958
- Debts after one year -€108,333
down €108,333 (-9.5%), from €1.1m to €1.0m
- Tax, wage and social debts +€32,008
new in 2025: €32,008
- Gross operating margin +€341,354
up €341,354 (+418%), from €81,706 to €423,061
- Other operating charges +€51,497
up €51,497 (+13,376%), from €385 to €51,882
- Taxes +€32,008
new in 2025: €32,008
- Financial charges +€25,782
up €25,782 (+60.3%), from €42,722 to €68,504
- Depreciation -€16,265
down €16,265 (-15.5%), from €104,754 to €88,489
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 | €2,256,178 | €2,055,293 | -€200,885 | -8.9% |
| Fixed assets | 21/28 | €2,252,003 | €1,898,109 | -€353,894 | -15.7% |
| Tangible fixed assets | 22/27 | €2,252,003 | €1,898,109 | -€353,894 | -15.7% |
| Land and buildings | 22 | €2,203,140 | €1,889,370 | -€313,770 | -14.2% |
| Furniture and vehicles | 24 | €48,863 | €8,739 | -€40,124 | -82.1% |
| Current assets | 29/58 | €4,175 | €157,184 | +€153,009 | +3,665% |
| Amounts receivable within one year | 40/41 | €315 | €34,816 | +€34,502 | +10,967% |
| Trade receivables | 40 | €315 | €10,364 | +€10,049 | +3,194% |
| Other amounts receivable | 41 | - | €24,453 | +€24,453 | |
| Cash at bank and in hand | 54/58 | €3,861 | €122,368 | +€118,507 | +3,070% |
| Total equity and liabilities | 10/49 | €2,256,178 | €2,055,293 | -€200,885 | -8.9% |
| Equity | 10/15 | €195,963 | €378,141 | +€182,178 | +93.0% |
| Contributions | 10/11 | €22,183 | €22,183 | = | 0.0% |
| Reserves | 13 | €173,780 | €355,958 | +€182,178 | +105% |
| Distributable reserves | 133 | €173,780 | €355,958 | +€182,178 | +105% |
| Amounts payable | 17/49 | €2,060,214 | €1,677,152 | -€383,063 | -18.6% |
| Amounts payable after more than one year | 17 | €1,137,500 | €1,029,167 | -€108,333 | -9.5% |
| Financial debts | 170/4 | €1,137,500 | €1,029,167 | -€108,333 | -9.5% |
| Amounts payable within one year | 42/48 | €890,146 | €603,684 | -€286,462 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €108,333 | €108,333 | = | 0.0% |
| Trade debts | 44 | - | €936 | +€936 | |
| Suppliers | 440/4 | - | €936 | +€936 | |
| Taxes, remuneration and social security | 45 | - | €32,008 | +€32,008 | |
| Taxes | 450/3 | - | €32,008 | +€32,008 | |
| Other amounts payable | 47/48 | €781,813 | €462,406 | -€319,406 | -40.9% |
| Accrued charges and deferred income | 492/3 | €32,568 | €44,302 | +€11,733 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,754 | €88,489 | -€16,265 | -15.5% |
| Other operating charges | 640/8 | €385 | €51,882 | +€51,497 | +13,376% |
| Gross operating margin | 9900 | €81,706 | €423,061 | +€341,354 | +418% |
| Operating profit (loss) | 9901 | -€23,433 | €282,690 | +€306,122 | |
| Financial charges | 65/66B | €42,722 | €68,504 | +€25,782 | +60.3% |
| Recurring financial charges | 65 | €42,722 | €68,504 | +€25,782 | +60.3% |
| Profit (loss) for the period before taxes | 9903 | -€66,155 | €214,185 | +€280,340 | |
| Income taxes | 67/77 | - | €32,008 | +€32,008 | |
| Profit (loss) for the period | 9904 | -€66,155 | €182,178 | +€248,332 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,155 | €182,178 | +€248,332 |
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 27 October 2026 via checked.be.