NBC IMMO: 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.
NBC IMMO
Largest movements
- Cash +€117,067
up €117,067 (+89.0%), from €131,491 to €248,557
mainly Net result for the year (+€172,739) and Tax, wage and social debts (+€88,667)
- Receivables within one year +€112,060
up €112,060 (+55.8%), from €200,923 to €312,982
of which Trade receivables: +€113,836
- Tangible fixed assets +€22,487
up €22,487 (+1,556%), from €1,445 to €23,932
of which Furniture and vehicles: +€22,997
- Receivables after one year -€8,168
down €8,168 (-4.6%), from €176,952 to €168,784
of which Trade receivables: -€176,952
- Reserves +€181,818
up €181,818 (+882%), from €20,610 to €202,428
of which Distributable reserves: +€163,068
- Tax, wage and social debts +€88,667
up €88,667 (+149%), from €59,402 to €148,070
- Trade debts -€20,901
down €20,901 (-87.0%), from €24,023 to €3,123
- Profit (loss) carried forward -€9,079
down €9,079 (-2.6%), from €352,514 to €343,435
- Gross operating margin +€258,545
up €258,545 (+534%), from €48,437 to €306,982
- Taxes +€42,363
up €42,363 (+91.5%), from €46,304 to €88,667
- Write-downs +€29,014
new in 2025: €29,014
- Other operating charges +€11,179
up €11,179 (+1,449%), from €772 to €11,951
- Depreciation +€7,815
up €7,815 (+1,107%), from €706 to €8,522
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 | €513,706 | €754,255 | +€240,549 | +46.8% |
| Fixed assets | 21/28 | €1,445 | €23,932 | +€22,487 | +1,556% |
| Tangible fixed assets | 22/27 | €1,445 | €23,932 | +€22,487 | +1,556% |
| Plant, machinery and equipment | 23 | €510 | - | -€510 | |
| Furniture and vehicles | 24 | €935 | €23,932 | +€22,997 | +2,460% |
| Current assets | 29/58 | €512,261 | €730,323 | +€218,062 | +42.6% |
| Amounts receivable after more than one year | 29 | €176,952 | €168,784 | -€8,168 | -4.6% |
| Trade receivables | 290 | €176,952 | - | -€176,952 | |
| Other amounts receivable | 291 | - | €168,784 | +€168,784 | |
| Amounts receivable within one year | 40/41 | €200,923 | €312,982 | +€112,060 | +55.8% |
| Trade receivables | 40 | €143,835 | €257,671 | +€113,836 | +79.1% |
| Other amounts receivable | 41 | €57,088 | €55,312 | -€1,776 | -3.1% |
| Cash at bank and in hand | 54/58 | €131,491 | €248,557 | +€117,067 | +89.0% |
| Deferred charges and accrued income | 490/1 | €2,896 | - | -€2,896 | |
| Total equity and liabilities | 10/49 | €513,706 | €754,255 | +€240,549 | +46.8% |
| Equity | 10/15 | €385,324 | €558,063 | +€172,739 | +44.8% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Capital | 10 | €12,200 | €12,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €20,610 | €202,428 | +€181,818 | +882% |
| Non-distributable reserves | 130/1 | €1,860 | €20,610 | +€18,750 | +1,008% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | - | €18,750 | +€18,750 | |
| Distributable reserves | 133 | €18,750 | €181,818 | +€163,068 | +870% |
| Profit (loss) carried forward | 14 | €352,514 | €343,435 | -€9,079 | -2.6% |
| Amounts payable | 17/49 | €128,382 | €196,192 | +€67,810 | +52.8% |
| Amounts payable within one year | 42/48 | €128,382 | €196,192 | +€67,810 | +52.8% |
| Trade debts | 44 | €24,023 | €3,123 | -€20,901 | -87.0% |
| Suppliers | 440/4 | €24,023 | €3,123 | -€20,901 | -87.0% |
| Taxes, remuneration and social security | 45 | €59,402 | €148,070 | +€88,667 | +149% |
| Taxes | 450/3 | €59,402 | €148,070 | +€88,667 | +149% |
| Other amounts payable | 47/48 | €44,957 | €45,000 | +€43 | +0.1% |
| Remuneration, social security and pensions | 62 | €390 | €397 | +€8 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €706 | €8,522 | +€7,815 | +1,107% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €29,014 | +€29,014 | |
| Other operating charges | 640/8 | €772 | €11,951 | +€11,179 | +1,449% |
| Gross operating margin | 9900 | €48,437 | €306,982 | +€258,545 | +534% |
| Operating profit (loss) | 9901 | €46,569 | €257,098 | +€210,529 | +452% |
| Financial income | 75/76B | €3,772 | €5,045 | +€1,273 | +33.8% |
| Recurring financial income | 75 | €3,772 | €5,045 | +€1,273 | +33.8% |
| Financial charges | 65/66B | €1,083 | €737 | -€346 | -32.0% |
| Recurring financial charges | 65 | €1,083 | €737 | -€346 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €49,258 | €261,407 | +€212,148 | +431% |
| Income taxes | 67/77 | €46,304 | €88,667 | +€42,363 | +91.5% |
| Profit (loss) for the period | 9904 | €2,954 | €172,739 | +€169,785 | +5,747% |
| Profit (loss) for the period to be appropriated | 9905 | €2,954 | €172,739 | +€169,785 | +5,747% |
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 27 October 2026 via checked.be.