N.G.M.C.: what changed
N.G.M.C.
Largest movements
- Receivables within one year +€121,696
up €121,696 (+87.7%), from €138,688 to €260,384
- Tangible fixed assets -€8,304
down €8,304 (-33.0%), from €25,184 to €16,881
of which Furniture and vehicles: -€5,819
- Cash +€4,404
up €4,404 (+7.7%), from €57,023 to €61,427
mainly Net result for the year (+€283,310) and Depreciation (+€11,197)
- Profit (loss) carried forward +€118,230
up €118,230 (+71.6%), from €165,080 to €283,310
- Tax, wage and social debts -€6,593
down €6,593 (-16.4%), from €40,127 to €33,534
- Trade debts +€3,673
up €3,673 (+33.7%), from €10,906 to €14,579
- Gross operating margin +€160,452
up €160,452 (+70.7%), from €226,831 to €387,283
- Taxes +€41,335
up €41,335 (+68.8%), from €60,100 to €101,435
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,173 | €339,483 | +€115,309 | +51.4% |
| Fixed assets | 21/28 | €25,752 | €17,449 | -€8,304 | -32.2% |
| Tangible fixed assets | 22/27 | €25,184 | €16,881 | -€8,304 | -33.0% |
| Plant, machinery and equipment | 23 | €8,666 | €6,182 | -€2,485 | -28.7% |
| Furniture and vehicles | 24 | €16,518 | €10,699 | -€5,819 | -35.2% |
| Financial fixed assets | 28 | €568 | €568 | = | 0.0% |
| Current assets | 29/58 | €198,421 | €322,034 | +€123,613 | +62.3% |
| Amounts receivable within one year | 40/41 | €138,688 | €260,384 | +€121,696 | +87.7% |
| Other amounts receivable | 41 | €138,688 | €260,384 | +€121,696 | +87.7% |
| Cash at bank and in hand | 54/58 | €57,023 | €61,427 | +€4,404 | +7.7% |
| Deferred charges and accrued income | 490/1 | €2,710 | €223 | -€2,486 | -91.8% |
| Total equity and liabilities | 10/49 | €224,173 | €339,483 | +€115,309 | +51.4% |
| Equity | 10/15 | €173,140 | €291,370 | +€118,230 | +68.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,080 | €283,310 | +€118,230 | +71.6% |
| Amounts payable | 17/49 | €51,033 | €48,112 | -€2,921 | -5.7% |
| Amounts payable within one year | 42/48 | €51,033 | €48,112 | -€2,921 | -5.7% |
| Financial debts | 43 | €0 | - | -€0 | |
| Credit institutions | 430/8 | €0 | - | -€0 | |
| Trade debts | 44 | €10,906 | €14,579 | +€3,673 | +33.7% |
| Suppliers | 440/4 | €10,906 | €14,579 | +€3,673 | +33.7% |
| Taxes, remuneration and social security | 45 | €40,127 | €33,534 | -€6,593 | -16.4% |
| Taxes | 450/3 | €40,127 | €33,534 | -€6,593 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,054 | €11,197 | +€1,143 | +11.4% |
| Other operating charges | 640/8 | €1,070 | €465 | -€604 | -56.5% |
| Gross operating margin | 9900 | €226,831 | €387,283 | +€160,452 | +70.7% |
| Operating profit (loss) | 9901 | €215,708 | €375,621 | +€159,913 | +74.1% |
| Financial income | 75/76B | €10,159 | €9,649 | -€510 | -5.0% |
| Recurring financial income | 75 | €10,159 | €9,649 | -€510 | -5.0% |
| Financial charges | 65/66B | €686 | €525 | -€162 | -23.6% |
| Recurring financial charges | 65 | €686 | €525 | -€162 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €225,180 | €384,745 | +€159,565 | +70.9% |
| Income taxes | 67/77 | €60,100 | €101,435 | +€41,335 | +68.8% |
| Profit (loss) for the period | 9904 | €165,080 | €283,310 | +€118,230 | +71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €165,080 | €283,310 | +€118,230 | +71.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.