N.T.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.T.C.
Largest movements
- Cash +€112,237
up €112,237 (+19.8%), from €567,765 to €680,002
mainly Net result for the year (+€119,724) and Stocks and contracts (+€45,300)
- Stocks and contracts -€45,300
down €45,300 (-11.5%), from €395,216 to €349,916
- Receivables within one year -€34,940
down €34,940 (-15.8%), from €220,937 to €185,997
of which Trade receivables: -€34,940
- Profit (loss) carried forward +€119,724
up €119,724 (+16.5%), from €726,247 to €845,971
- Tax, wage and social debts -€58,963
down €58,963 (-79.1%), from €74,565 to €15,602
of which Taxes: -€60,597
- Trade debts -€19,709
down €19,709 (-31.1%), from €63,371 to €43,662
- Taxes -€16,553
down €16,553 (-27.7%), from €59,814 to €43,261
- Staff costs +€14,587
up €14,587 (+15.0%), from €97,133 to €111,720
- Other operating charges +€8,568
up €8,568 (+86.0%), from €9,959 to €18,526
- Depreciation +€6,686
up €6,686 (+35.6%), from €18,789 to €25,475
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 | €1,279,481 | €1,320,373 | +€40,893 | +3.2% |
| Fixed assets | 21/28 | €95,169 | €104,459 | +€9,290 | +9.8% |
| Tangible fixed assets | 22/27 | €94,697 | €103,987 | +€9,290 | +9.8% |
| Land and buildings | 22 | €79,988 | €72,363 | -€7,624 | -9.5% |
| Plant, machinery and equipment | 23 | €13,538 | €10,095 | -€3,443 | -25.4% |
| Furniture and vehicles | 24 | €1,172 | €21,529 | +€20,357 | +1,737% |
| Financial fixed assets | 28 | €472 | €472 | = | 0.0% |
| Current assets | 29/58 | €1,184,311 | €1,215,914 | +€31,603 | +2.7% |
| Stocks and contracts in progress | 3 | €395,216 | €349,916 | -€45,300 | -11.5% |
| Stocks | 30/36 | €395,216 | €349,916 | -€45,300 | -11.5% |
| Amounts receivable within one year | 40/41 | €220,937 | €185,997 | -€34,940 | -15.8% |
| Trade receivables | 40 | €220,922 | €185,982 | -€34,940 | -15.8% |
| Other amounts receivable | 41 | €14 | €14 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €567,765 | €680,002 | +€112,237 | +19.8% |
| Deferred charges and accrued income | 490/1 | €395 | - | -€395 | |
| Total equity and liabilities | 10/49 | €1,279,481 | €1,320,373 | +€40,893 | +3.2% |
| Equity | 10/15 | €1,126,722 | €1,246,446 | +€119,724 | +10.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €375,475 | €375,475 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Legal reserve | 130 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €372,975 | €372,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €726,247 | €845,971 | +€119,724 | +16.5% |
| Provisions and deferred taxes | 16 | €915 | €915 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €915 | €915 | = | 0.0% |
| Pensions and similar obligations | 160 | €915 | €915 | = | 0.0% |
| Amounts payable | 17/49 | €151,844 | €73,013 | -€78,831 | -51.9% |
| Amounts payable within one year | 42/48 | €151,844 | €73,013 | -€78,831 | -51.9% |
| Trade debts | 44 | €63,371 | €43,662 | -€19,709 | -31.1% |
| Suppliers | 440/4 | €63,371 | €43,662 | -€19,709 | -31.1% |
| Taxes, remuneration and social security | 45 | €74,565 | €15,602 | -€58,963 | -79.1% |
| Taxes | 450/3 | €64,256 | €3,660 | -€60,597 | -94.3% |
| Remuneration and social security | 454/9 | €10,308 | €11,942 | +€1,634 | +15.9% |
| Other amounts payable | 47/48 | €13,909 | €13,749 | -€160 | -1.1% |
| Non-recurring operating income | 76A | - | €4,132 | +€4,132 | |
| Remuneration, social security and pensions | 62 | €97,133 | €111,720 | +€14,587 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,789 | €25,475 | +€6,686 | +35.6% |
| Other operating charges | 640/8 | €9,959 | €18,526 | +€8,568 | +86.0% |
| Gross operating margin | 9900 | €304,054 | €304,814 | +€761 | +0.3% |
| Operating profit (loss) | 9901 | €178,173 | €149,093 | -€29,080 | -16.3% |
| Financial income | 75/76B | €16,604 | €15,771 | -€832 | -5.0% |
| Recurring financial income | 75 | €16,604 | €15,771 | -€832 | -5.0% |
| Financial charges | 65/66B | €1,287 | €1,879 | +€592 | +46.0% |
| Recurring financial charges | 65 | €1,287 | €1,879 | +€592 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | €193,490 | €162,985 | -€30,505 | -15.8% |
| Income taxes | 67/77 | €59,814 | €43,261 | -€16,553 | -27.7% |
| Profit (loss) for the period | 9904 | €133,676 | €119,724 | -€13,952 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €133,676 | €119,724 | -€13,952 | -10.4% |
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 18 October 2026 via checked.be.