N.G.C: 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.C
Largest movements
- Receivables after one year +€762,000
new in 2025: €762,000
- Financial fixed assets +€250,000
up €250,000 (+167%), from €150,027 to €400,027
- Receivables within one year +€118,826
up €118,826 (+9.7%), from €1.2m to €1.3m
of which Trade receivables: +€103,668
- Cash -€86,665
down €86,665 (-75.4%), from €114,967 to €28,302
mainly Receivables after one year (-€762,000) and Investment in fixed assets (net) (-€320,859)
- Deferred charges and accrued income +€39,086
up €39,086 (+199%), from €19,600 to €58,686
- Reserves +€787,504
up €787,504 (+84.4%), from €932,524 to €1.7m
of which Distributable reserves: +€787,504
- Tax, wage and social debts +€407,760
up €407,760 (+3,580%), from €11,390 to €419,150
of which Taxes: +€397,395
- Other debts -€78,934
down €78,934 (-100%), from €78,934 to €0
- Short-term financial debts +€51,000
up €51,000 (+17.1%), from €299,000 to €350,000
- Trade debts -€42,321
down €42,321 (-46.8%), from €90,410 to €48,089
- Gross operating margin +€790,707
up €790,707 (+166%), from €475,878 to €1.3m
- Taxes +€247,648
up €247,648 (+229%), from €108,292 to €355,940
- Financial income +€23,195
up €23,195 (+118%), from €19,693 to €42,888
- Financial charges -€20,045
down €20,045 (-35.0%), from €57,336 to €37,290
- Depreciation +€12,974
up €12,974 (+52.4%), from €24,774 to €37,748
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 | €1,636,480 | €2,752,838 | +€1.1m | +68.2% |
| Fixed assets | 21/28 | €283,136 | €566,247 | +€283,111 | +100.0% |
| Tangible fixed assets | 22/27 | €133,109 | €166,220 | +€33,111 | +24.9% |
| Land and buildings | 22 | €59,334 | €69,009 | +€9,674 | +16.3% |
| Plant, machinery and equipment | 23 | €10,301 | €1,869 | -€8,433 | -81.9% |
| Furniture and vehicles | 24 | €63,473 | €10,088 | -€53,385 | -84.1% |
| Other tangible fixed assets | 26 | - | €85,255 | +€85,255 | |
| Financial fixed assets | 28 | €150,027 | €400,027 | +€250,000 | +167% |
| Current assets | 29/58 | €1,353,344 | €2,186,591 | +€833,247 | +61.6% |
| Amounts receivable after more than one year | 29 | - | €762,000 | +€762,000 | |
| Other amounts receivable | 291 | - | €762,000 | +€762,000 | |
| Amounts receivable within one year | 40/41 | €1,218,777 | €1,337,603 | +€118,826 | +9.7% |
| Trade receivables | 40 | €140,583 | €244,251 | +€103,668 | +73.7% |
| Other amounts receivable | 41 | €1,078,194 | €1,093,351 | +€15,158 | +1.4% |
| Cash at bank and in hand | 54/58 | €114,967 | €28,302 | -€86,665 | -75.4% |
| Deferred charges and accrued income | 490/1 | €19,600 | €58,686 | +€39,086 | +199% |
| Total equity and liabilities | 10/49 | €1,636,480 | €2,752,838 | +€1.1m | +68.2% |
| Equity | 10/15 | €994,524 | €1,782,028 | +€787,504 | +79.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €932,524 | €1,720,028 | +€787,504 | +84.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €248,390 | €248,390 | = | 0.0% |
| Distributable reserves | 133 | €677,934 | €1,465,438 | +€787,504 | +116% |
| Amounts payable | 17/49 | €641,955 | €970,809 | +€328,854 | +51.2% |
| Amounts payable after more than one year | 17 | €8,628 | €0 | -€8,628 | -100% |
| Financial debts | 170/4 | €8,628 | €0 | -€8,628 | -100% |
| Amounts payable within one year | 42/48 | €493,969 | €825,866 | +€331,897 | +67.2% |
| Current portion of amounts payable after more than one year | 42 | €14,235 | €8,628 | -€5,608 | -39.4% |
| Financial debts | 43 | €299,000 | €350,000 | +€51,000 | +17.1% |
| Credit institutions | 430/8 | €299,000 | €350,000 | +€51,000 | +17.1% |
| Trade debts | 44 | €90,410 | €48,089 | -€42,321 | -46.8% |
| Suppliers | 440/4 | €90,410 | €48,089 | -€42,321 | -46.8% |
| Taxes, remuneration and social security | 45 | €11,390 | €419,150 | +€407,760 | +3,580% |
| Taxes | 450/3 | €11,390 | €408,785 | +€397,395 | +3,489% |
| Remuneration and social security | 454/9 | - | €10,365 | +€10,365 | |
| Other amounts payable | 47/48 | €78,934 | €0 | -€78,934 | -100% |
| Accrued charges and deferred income | 492/3 | €139,359 | €144,943 | +€5,585 | +4.0% |
| Non-recurring operating income | 76A | - | €38,786 | +€38,786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,774 | €37,748 | +€12,974 | +52.4% |
| Other operating charges | 640/8 | €10,236 | €5,328 | -€4,908 | -48.0% |
| Non-recurring operating charges | 66A | - | €85,664 | +€85,664 | |
| Gross operating margin | 9900 | €475,878 | €1,266,586 | +€790,707 | +166% |
| Operating profit (loss) | 9901 | €440,868 | €1,137,846 | +€696,978 | +158% |
| Financial income | 75/76B | €19,693 | €42,888 | +€23,195 | +118% |
| Recurring financial income | 75 | €19,693 | €42,888 | +€23,195 | +118% |
| Financial charges | 65/66B | €57,336 | €37,290 | -€20,045 | -35.0% |
| Recurring financial charges | 65 | €57,336 | €37,290 | -€20,045 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €403,225 | €1,143,444 | +€740,219 | +184% |
| Income taxes | 67/77 | €108,292 | €355,940 | +€247,648 | +229% |
| Profit (loss) for the period | 9904 | €294,933 | €787,504 | +€492,571 | +167% |
| Transfer to tax-exempt reserves | 689 | €248,390 | €0 | -€248,390 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €46,543 | €787,504 | +€740,961 | +1,592% |
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 20 October 2026 via checked.be.