N&C Management: 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.
N&C Management
Largest movements
- Cash -€75,597
down €75,597 (-90.3%), from €83,720 to €8,123
mainly Contributions, distributions and other (-€62,000) and Receivables within one year (-€28,161)
- Receivables within one year +€28,161
up €28,161 (+419%), from €6,718 to €34,880
of which Trade receivables: +€19,014
- Tangible fixed assets +€9,831
up €9,831 (+1,074%), from €915 to €10,746
- Reserves -€46,642
down €46,642 (-99.3%), from €46,954 to €312
- Tax, wage and social debts -€20,916
down €20,916 (-82.1%), from €25,467 to €4,551
- Other debts +€17,217
up €17,217 (+2,005%), from €859 to €18,076
- Trade debts +€13,565
up €13,565 (+776%), from €1,749 to €15,314
- Gross operating margin -€36,186
down €36,186 (-61.4%), from €58,929 to €22,742
- Taxes -€8,529
down €8,529 (-63.8%), from €13,368 to €4,839
- Financial charges +€989
up €989 (+218%), from €454 to €1,443
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 | €93,629 | €56,853 | -€36,776 | -39.3% |
| Fixed assets | 21/28 | €915 | €10,746 | +€9,831 | +1,074% |
| Tangible fixed assets | 22/27 | €915 | €10,746 | +€9,831 | +1,074% |
| Furniture and vehicles | 24 | €915 | €10,746 | +€9,831 | +1,074% |
| Current assets | 29/58 | €92,714 | €46,107 | -€46,607 | -50.3% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,718 | €34,880 | +€28,161 | +419% |
| Trade receivables | 40 | €5,704 | €24,719 | +€19,014 | +333% |
| Other amounts receivable | 41 | €1,014 | €10,161 | +€9,147 | +902% |
| Cash at bank and in hand | 54/58 | €83,720 | €8,123 | -€75,597 | -90.3% |
| Deferred charges and accrued income | 490/1 | €276 | €1,105 | +€829 | +300% |
| Total equity and liabilities | 10/49 | €93,629 | €56,853 | -€36,776 | -39.3% |
| Equity | 10/15 | €65,554 | €18,912 | -€46,642 | -71.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,954 | €312 | -€46,642 | -99.3% |
| Distributable reserves | 133 | €46,954 | €312 | -€46,642 | -99.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,075 | €37,941 | +€9,867 | +35.1% |
| Amounts payable within one year | 42/48 | €28,075 | €37,941 | +€9,867 | +35.1% |
| Trade debts | 44 | €1,749 | €15,314 | +€13,565 | +776% |
| Suppliers | 440/4 | €1,749 | €15,314 | +€13,565 | +776% |
| Taxes, remuneration and social security | 45 | €25,467 | €4,551 | -€20,916 | -82.1% |
| Taxes | 450/3 | €25,467 | €4,551 | -€20,916 | -82.1% |
| Other amounts payable | 47/48 | €859 | €18,076 | +€17,217 | +2,005% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369 | €397 | +€28 | +7.6% |
| Other operating charges | 640/8 | €568 | €705 | +€137 | +24.1% |
| Gross operating margin | 9900 | €58,929 | €22,742 | -€36,186 | -61.4% |
| Operating profit (loss) | 9901 | €57,991 | €21,640 | -€36,352 | -62.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €454 | €1,443 | +€989 | +218% |
| Recurring financial charges | 65 | €454 | €1,443 | +€989 | +218% |
| Profit (loss) for the period before taxes | 9903 | €57,537 | €20,197 | -€37,340 | -64.9% |
| Income taxes | 67/77 | €13,368 | €4,839 | -€8,529 | -63.8% |
| Profit (loss) for the period | 9904 | €44,169 | €15,358 | -€28,811 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,169 | €15,358 | -€28,811 | -65.2% |
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 14 October 2026 via checked.be.