NC COMMUNICATION: 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.
NC COMMUNICATION
Largest movements
- Tangible fixed assets +€430,673
up €430,673 (+2,803%), from €15,366 to €446,040
of which Land and buildings: +€395,296
- Current investments -€200,000
down €200,000 (-36.4%), from €550,000 to €350,000
- Cash -€115,219
down €115,219 (-64.3%), from €179,313 to €64,095
mainly Investment in fixed assets (net) (-€436,542) and Tax, wage and social debts (-€13,479)
- Reserves +€90,312
up €90,312 (+17.8%), from €506,405 to €596,716
- Trade debts +€27,086
up €27,086 (+194%), from €13,979 to €41,064
- Tax, wage and social debts -€13,479
down €13,479 (-56.7%), from €23,780 to €10,301
of which Remuneration and social security: -€9,025
- Staff costs -€6,891
down €6,891 (-10.0%), from €68,861 to €61,970
- Financial charges +€6,523
up €6,523 (+85.6%), from €7,621 to €14,145
- Gross operating margin -€6,157
down €6,157 (-2.9%), from €209,713 to €203,556
- Financial income -€4,418
down €4,418 (-34.0%), from €13,006 to €8,588
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €818,467 | €926,732 | +€108,265 | +13.2% |
| Fixed assets | 21/28 | €15,441 | €446,115 | +€430,673 | +2,789% |
| Tangible fixed assets | 22/27 | €15,366 | €446,040 | +€430,673 | +2,803% |
| Land and buildings | 22 | - | €395,296 | +€395,296 | |
| Furniture and vehicles | 24 | €850 | €32,783 | +€31,933 | +3,759% |
| Other tangible fixed assets | 26 | €14,517 | €17,961 | +€3,445 | +23.7% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €803,026 | €480,618 | -€322,408 | -40.1% |
| Amounts receivable within one year | 40/41 | €66,126 | €63,368 | -€2,758 | -4.2% |
| Trade receivables | 40 | €66,126 | €53,916 | -€12,211 | -18.5% |
| Other amounts receivable | 41 | - | €9,452 | +€9,452 | |
| Current investments | 50/53 | €550,000 | €350,000 | -€200,000 | -36.4% |
| Cash at bank and in hand | 54/58 | €179,313 | €64,095 | -€115,219 | -64.3% |
| Deferred charges and accrued income | 490/1 | €7,586 | €3,155 | -€4,431 | -58.4% |
| Total equity and liabilities | 10/49 | €818,467 | €926,732 | +€108,265 | +13.2% |
| Equity | 10/15 | €572,405 | €662,716 | +€90,312 | +15.8% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €506,405 | €596,716 | +€90,312 | +17.8% |
| Distributable reserves | 133 | €506,405 | €596,716 | +€90,312 | +17.8% |
| Amounts payable | 17/49 | €246,062 | €264,016 | +€17,954 | +7.3% |
| Amounts payable after more than one year | 17 | €200,000 | €206,360 | +€6,360 | +3.2% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Other amounts payable | 178/9 | - | €6,360 | +€6,360 | |
| Amounts payable within one year | 42/48 | €46,062 | €57,656 | +€11,594 | +25.2% |
| Trade debts | 44 | €13,979 | €41,064 | +€27,086 | +194% |
| Suppliers | 440/4 | €13,979 | €41,064 | +€27,086 | +194% |
| Taxes, remuneration and social security | 45 | €23,780 | €10,301 | -€13,479 | -56.7% |
| Taxes | 450/3 | €14,755 | €10,301 | -€4,454 | -30.2% |
| Remuneration and social security | 454/9 | €9,025 | - | -€9,025 | |
| Other amounts payable | 47/48 | €8,304 | €6,290 | -€2,013 | -24.2% |
| Remuneration, social security and pensions | 62 | €68,861 | €61,970 | -€6,891 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,666 | €5,868 | -€1,798 | -23.4% |
| Other operating charges | 640/8 | €1,395 | €1,933 | +€537 | +38.5% |
| Gross operating margin | 9900 | €209,713 | €203,556 | -€6,157 | -2.9% |
| Operating profit (loss) | 9901 | €131,791 | €133,785 | +€1,994 | +1.5% |
| Financial income | 75/76B | €13,006 | €8,588 | -€4,418 | -34.0% |
| Recurring financial income | 75 | €13,006 | €8,588 | -€4,418 | -34.0% |
| Financial charges | 65/66B | €7,621 | €14,145 | +€6,523 | +85.6% |
| Recurring financial charges | 65 | €7,621 | €14,145 | +€6,523 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | €137,175 | €128,228 | -€8,947 | -6.5% |
| Income taxes | 67/77 | €40,005 | €37,917 | -€2,089 | -5.2% |
| Profit (loss) for the period | 9904 | €97,170 | €90,312 | -€6,858 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €97,170 | €90,312 | -€6,858 | -7.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.