N.R.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.R.C.
Largest movements
- Receivables within one year +€22,931
up €22,931 (+88.1%), from €26,017 to €48,948
of which Trade receivables: +€11,637
- Cash +€16,254
up €16,254 (+223%), from €7,302 to €23,556
mainly Net result for the year (+€45,215) and Tax, wage and social debts (+€12,972)
- Deferred charges and accrued income -€5,797
down €5,797 (-57.0%), from €10,172 to €4,375
- Tangible fixed assets +€2,148
up €2,148 (+472%), from €455 to €2,603
of which Furniture and vehicles: +€1,743
- Profit (loss) carried forward +€31,321
up €31,321 (+113%), from €27,626 to €58,946
- Tax, wage and social debts +€12,972
up €12,972 (+72.7%), from €17,842 to €30,814
- Trade debts -€4,061
down €4,061 (-91.1%), from €4,457 to €396
- Current portion of long-term debt -€3,317
down €3,317 (-58.2%), from €5,695 to €2,378
- Debts after one year -€2,378
down €2,378 (-77.9%), from €3,052 to €674
- Gross operating margin +€34,125
up €34,125 (+128%), from €26,649 to €60,774
- Taxes +€6,152
up €6,152 (+107%), from €5,762 to €11,914
- Staff costs -€1,454
down €1,454 (-47.2%), from €3,077 to €1,624
- Depreciation -€1,032
down €1,032 (-54.0%), from €1,913 to €881
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,946 | €125,482 | +€35,536 | +39.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €46,455 | €48,603 | +€2,148 | +4.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €455 | €2,603 | +€2,148 | +472% |
| Plant, machinery and equipment | 23 | €455 | €860 | +€405 | +89.0% |
| Furniture and vehicles | 24 | €0 | €1,743 | +€1,743 | |
| Financial fixed assets | 28 | €46,000 | €46,000 | = | 0.0% |
| Current assets | 29/58 | €43,491 | €76,879 | +€33,388 | +76.8% |
| Amounts receivable within one year | 40/41 | €26,017 | €48,948 | +€22,931 | +88.1% |
| Trade receivables | 40 | €12,729 | €24,366 | +€11,637 | +91.4% |
| Other amounts receivable | 41 | €13,288 | €24,582 | +€11,294 | +85.0% |
| Cash at bank and in hand | 54/58 | €7,302 | €23,556 | +€16,254 | +223% |
| Deferred charges and accrued income | 490/1 | €10,172 | €4,375 | -€5,797 | -57.0% |
| Total equity and liabilities | 10/49 | €89,946 | €125,482 | +€35,536 | +39.5% |
| Equity | 10/15 | €46,900 | €78,221 | +€31,321 | +66.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €675 | €675 | = | 0.0% |
| Distributable reserves | 133 | €675 | €675 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,626 | €58,946 | +€31,321 | +113% |
| Amounts payable | 17/49 | €43,046 | €47,262 | +€4,216 | +9.8% |
| Amounts payable after more than one year | 17 | €3,052 | €674 | -€2,378 | -77.9% |
| Financial debts | 170/4 | €3,052 | €674 | -€2,378 | -77.9% |
| Amounts payable within one year | 42/48 | €39,994 | €46,588 | +€6,594 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €5,695 | €2,378 | -€3,317 | -58.2% |
| Trade debts | 44 | €4,457 | €396 | -€4,061 | -91.1% |
| Suppliers | 440/4 | €4,457 | €396 | -€4,061 | -91.1% |
| Taxes, remuneration and social security | 45 | €17,842 | €30,814 | +€12,972 | +72.7% |
| Taxes | 450/3 | €17,842 | €30,814 | +€12,972 | +72.7% |
| Other amounts payable | 47/48 | €12,000 | €13,000 | +€1,000 | +8.3% |
| Remuneration, social security and pensions | 62 | €3,077 | €1,624 | -€1,454 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,913 | €881 | -€1,032 | -54.0% |
| Other operating charges | 640/8 | €918 | €1,070 | +€152 | +16.6% |
| Gross operating margin | 9900 | €26,649 | €60,774 | +€34,125 | +128% |
| Operating profit (loss) | 9901 | €20,742 | €57,201 | +€36,459 | +176% |
| Financial charges | 65/66B | - | €72 | +€72 | |
| Recurring financial charges | 65 | - | €72 | +€72 | |
| Profit (loss) for the period before taxes | 9903 | €20,742 | €57,129 | +€36,387 | +175% |
| Income taxes | 67/77 | €5,762 | €11,914 | +€6,152 | +107% |
| Profit (loss) for the period | 9904 | €14,979 | €45,215 | +€30,235 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €14,979 | €45,215 | +€30,235 | +202% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.