NADCOM: 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.
NADCOM
Largest movements
- Stocks and contracts +€965
up €965 (+24.8%), from €3,891 to €4,855
- Cash -€824
down €824 (-26.6%), from €3,094 to €2,270
mainly Tax, wage and social debts (-€4,950) and Stocks and contracts (-€965)
- Tax, wage and social debts -€4,950
down €4,950 (-30.9%), from €16,037 to €11,088
of which Remuneration and social security: -€4,910
- Profit (loss) carried forward +€3,097
up €3,097 (+13.1%), from -€23,570 to -€20,473
- Trade debts +€1,992
up €1,992 (+617%), from €323 to €2,315
- Staff costs -€11,515
down €11,515 (-23.6%), from €48,855 to €37,339
- Gross operating margin -€10,741
down €10,741 (-21.0%), from €51,232 to €40,491
- Turnover -€9,724
down €9,724 (-10.9%), from €89,383 to €79,659
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 | €7,142 | €7,281 | +€139 | +2.0% |
| Current assets | 29/58 | €7,142 | €7,281 | +€139 | +2.0% |
| Stocks and contracts in progress | 3 | €3,891 | €4,855 | +€965 | +24.8% |
| Stocks | 30/36 | €3,891 | €4,855 | +€965 | +24.8% |
| Amounts receivable within one year | 40/41 | €157 | €152 | -€6 | -3.6% |
| Trade receivables | 40 | €5 | - | -€5 | |
| Other amounts receivable | 41 | €152 | €152 | -€1 | -0.6% |
| Cash at bank and in hand | 54/58 | €3,094 | €2,270 | -€824 | -26.6% |
| Deferred charges and accrued income | 490/1 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €7,142 | €7,281 | +€139 | +2.0% |
| Equity | 10/15 | -€17,370 | -€14,273 | +€3,097 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,570 | -€20,473 | +€3,097 | +13.1% |
| Amounts payable | 17/49 | €24,512 | €21,554 | -€2,958 | -12.1% |
| Amounts payable within one year | 42/48 | €24,512 | €21,554 | -€2,958 | -12.1% |
| Trade debts | 44 | €323 | €2,315 | +€1,992 | +617% |
| Suppliers | 440/4 | €323 | €2,315 | +€1,992 | +617% |
| Taxes, remuneration and social security | 45 | €16,037 | €11,088 | -€4,950 | -30.9% |
| Taxes | 450/3 | €5,295 | €5,256 | -€39 | -0.7% |
| Remuneration and social security | 454/9 | €10,742 | €5,832 | -€4,910 | -45.7% |
| Other amounts payable | 47/48 | €8,152 | €8,152 | = | 0.0% |
| Turnover | 70 | €89,383 | €79,659 | -€9,724 | -10.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €38,715 | €39,178 | +€463 | +1.2% |
| Remuneration, social security and pensions | 62 | €48,855 | €37,339 | -€11,515 | -23.6% |
| Gross operating margin | 9900 | €51,232 | €40,491 | -€10,741 | -21.0% |
| Operating profit (loss) | 9901 | €2,377 | €3,151 | +€774 | +32.6% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €2,323 | €3,097 | +€774 | +33.3% |
| Profit (loss) for the period | 9904 | €2,323 | €3,097 | +€774 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,323 | €3,097 | +€774 | +33.3% |
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 18 October 2026 via checked.be.