N.G.B.: 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.G.B.
Largest movements
- Cash +€186,366
up €186,366 (+25.8%), from €722,731 to €909,097
mainly Net result for the year (+€351,888) and Depreciation (+€200,239)
- Receivables within one year +€143,175
up €143,175 (+21.8%), from €656,146 to €799,321
of which Other amounts receivable: +€73,184
- Tangible fixed assets -€119,797
down €119,797 (-21.7%), from €550,848 to €431,051
of which Leasing and similar rights: -€98,289
- Stocks and contracts -€78,695
down €78,695 (-2.3%), from €3.4m to €3.4m
- Profit (loss) carried forward +€351,888
up €351,888 (+11.5%), from €3.1m to €3.4m
- Trade debts -€288,459
down €288,459 (-25.2%), from €1.1m to €857,629
- Debts after one year +€140,664
up €140,664 (+28.1%), from €500,318 to €640,982
- Short-term financial debts -€105,720
no longer reported in 2025 (was €105,720)
- Current portion of long-term debt +€84,709
up €84,709 (+45.3%), from €186,907 to €271,616
- Gross operating margin +€94,353
up €94,353 (+7.9%), from €1.2m to €1.3m
- Staff costs +€17,986
up €17,986 (+3.1%), from €578,495 to €596,481
- Depreciation +€15,118
up €15,118 (+8.2%), from €185,122 to €200,239
- Taxes +€14,937
up €14,937 (+13.0%), from €114,518 to €129,455
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 | €5,453,757 | €5,574,868 | +€121,111 | +2.2% |
| Fixed assets | 21/28 | €572,818 | €446,688 | -€126,131 | -22.0% |
| Intangible fixed assets | 21 | €21,369 | €15,036 | -€6,333 | -29.6% |
| Tangible fixed assets | 22/27 | €550,848 | €431,051 | -€119,797 | -21.7% |
| Plant, machinery and equipment | 23 | €21,459 | €70,069 | +€48,610 | +227% |
| Furniture and vehicles | 24 | €65,563 | €23,845 | -€41,718 | -63.6% |
| Leasing and similar rights | 25 | €261,407 | €163,118 | -€98,289 | -37.6% |
| Other tangible fixed assets | 26 | €202,419 | €174,018 | -€28,400 | -14.0% |
| Financial fixed assets | 28 | €601 | €601 | = | 0.0% |
| Current assets | 29/58 | €4,880,938 | €5,128,180 | +€247,242 | +5.1% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,438,458 | €3,359,762 | -€78,695 | -2.3% |
| Stocks | 30/36 | €3,438,458 | €3,359,762 | -€78,695 | -2.3% |
| Amounts receivable within one year | 40/41 | €656,146 | €799,321 | +€143,175 | +21.8% |
| Trade receivables | 40 | €566,741 | €636,732 | +€69,991 | +12.3% |
| Other amounts receivable | 41 | €89,405 | €162,589 | +€73,184 | +81.9% |
| Cash at bank and in hand | 54/58 | €722,731 | €909,097 | +€186,366 | +25.8% |
| Deferred charges and accrued income | 490/1 | €3,605 | - | -€3,605 | |
| Total equity and liabilities | 10/49 | €5,453,757 | €5,574,868 | +€121,111 | +2.2% |
| Equity | 10/15 | €3,277,783 | €3,629,670 | +€351,888 | +10.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €70,500 | €70,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,500 | €55,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,057,283 | €3,409,170 | +€351,888 | +11.5% |
| Amounts payable | 17/49 | €2,175,974 | €1,945,198 | -€230,776 | -10.6% |
| Amounts payable after more than one year | 17 | €500,318 | €640,982 | +€140,664 | +28.1% |
| Financial debts | 170/4 | €500,318 | €640,982 | +€140,664 | +28.1% |
| Amounts payable within one year | 42/48 | €1,675,655 | €1,304,215 | -€371,440 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €186,907 | €271,616 | +€84,709 | +45.3% |
| Financial debts | 43 | €105,720 | - | -€105,720 | |
| Credit institutions | 430/8 | €105,720 | - | -€105,720 | |
| Trade debts | 44 | €1,146,087 | €857,629 | -€288,459 | -25.2% |
| Suppliers | 440/4 | €1,146,087 | €857,629 | -€288,459 | -25.2% |
| Taxes, remuneration and social security | 45 | €236,941 | €174,971 | -€61,970 | -26.2% |
| Taxes | 450/3 | €167,299 | €174,971 | +€7,672 | +4.6% |
| Remuneration and social security | 454/9 | €69,641 | - | -€69,641 | |
| Remuneration, social security and pensions | 62 | €578,495 | €596,481 | +€17,986 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,122 | €200,239 | +€15,118 | +8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,377 | +€9,377 | |
| Other operating charges | 640/8 | €38,140 | €38,914 | +€774 | +2.0% |
| Gross operating margin | 9900 | €1,199,195 | €1,293,548 | +€94,353 | +7.9% |
| Operating profit (loss) | 9901 | €397,438 | €448,537 | +€51,099 | +12.9% |
| Financial income | 75/76B | €78,094 | €84,152 | +€6,058 | +7.8% |
| Recurring financial income | 75 | €78,094 | €84,152 | +€6,058 | +7.8% |
| Financial charges | 65/66B | €47,786 | €51,346 | +€3,560 | +7.5% |
| Recurring financial charges | 65 | €47,786 | €51,346 | +€3,560 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €427,746 | €481,343 | +€53,596 | +12.5% |
| Income taxes | 67/77 | €114,518 | €129,455 | +€14,937 | +13.0% |
| Profit (loss) for the period | 9904 | €313,228 | €351,888 | +€38,660 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €313,228 | €351,888 | +€38,660 | +12.3% |
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 26 October 2026 via checked.be.