NC-INVEST: what changed
NC-INVEST
Largest movements
- Cash -€25,644
down €25,644 (-27.9%), from €92,070 to €66,426
mainly Contributions, distributions and other (-€100,000) and Receivables within one year (-€16,344)
- Receivables within one year +€16,344
up €16,344 (+52.7%), from €31,007 to €47,350
of which Trade receivables: +€13,261
- Tangible fixed assets -€1,700
down €1,700 (-16.8%), from €10,149 to €8,449
of which Furniture and vehicles: -€1,010
- Profit (loss) carried forward -€92,491
down €92,491 (-84.1%), from €109,924 to €17,432
- Other debts +€84,774
new in 2025: €84,774
- Trade debts -€2,537
down €2,537 (-79.8%), from €3,177 to €641
- Gross operating margin -€17,047
down €17,047 (-50.6%), from €33,705 to €16,658
- Taxes -€1,299
down €1,299 (-16.9%), from €7,699 to €6,400
- Depreciation +€391
up €391 (+29.8%), from €1,309 to €1,700
- Financial income -€371
down €371 (-99.9%), from €372 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €133,226 | €122,225 | -€11,001 | -8.3% |
| Fixed assets | 21/28 | €10,149 | €8,449 | -€1,700 | -16.8% |
| Tangible fixed assets | 22/27 | €10,149 | €8,449 | -€1,700 | -16.8% |
| Furniture and vehicles | 24 | €3,545 | €2,535 | -€1,010 | -28.5% |
| Other tangible fixed assets | 26 | €6,604 | €5,914 | -€690 | -10.5% |
| Current assets | 29/58 | €123,077 | €113,776 | -€9,301 | -7.6% |
| Amounts receivable within one year | 40/41 | €31,007 | €47,350 | +€16,344 | +52.7% |
| Trade receivables | 40 | €30,299 | €43,560 | +€13,261 | +43.8% |
| Other amounts receivable | 41 | €707 | €3,790 | +€3,083 | +436% |
| Cash at bank and in hand | 54/58 | €92,070 | €66,426 | -€25,644 | -27.9% |
| Total equity and liabilities | 10/49 | €133,226 | €122,225 | -€11,001 | -8.3% |
| Equity | 10/15 | €110,024 | €17,532 | -€92,491 | -84.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,924 | €17,432 | -€92,491 | -84.1% |
| Amounts payable | 17/49 | €23,202 | €104,693 | +€81,491 | +351% |
| Amounts payable within one year | 42/48 | €23,202 | €104,693 | +€81,491 | +351% |
| Trade debts | 44 | €3,177 | €641 | -€2,537 | -79.8% |
| Suppliers | 440/4 | €3,177 | €641 | -€2,537 | -79.8% |
| Taxes, remuneration and social security | 45 | €20,025 | €19,279 | -€746 | -3.7% |
| Taxes | 450/3 | €16,878 | €16,833 | -€45 | -0.3% |
| Remuneration and social security | 454/9 | €3,147 | €2,446 | -€701 | -22.3% |
| Other amounts payable | 47/48 | - | €84,774 | +€84,774 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,309 | €1,700 | +€391 | +29.8% |
| Other operating charges | 640/8 | €795 | €609 | -€186 | -23.4% |
| Gross operating margin | 9900 | €33,705 | €16,658 | -€17,047 | -50.6% |
| Operating profit (loss) | 9901 | €31,600 | €14,348 | -€17,252 | -54.6% |
| Financial income | 75/76B | €372 | €0 | -€371 | -99.9% |
| Recurring financial income | 75 | €372 | €0 | -€371 | -99.9% |
| Financial charges | 65/66B | €127 | €441 | +€314 | +248% |
| Recurring financial charges | 65 | €127 | €441 | +€314 | +248% |
| Profit (loss) for the period before taxes | 9903 | €31,845 | €13,908 | -€17,937 | -56.3% |
| Income taxes | 67/77 | €7,699 | €6,400 | -€1,299 | -16.9% |
| Profit (loss) for the period | 9904 | €24,146 | €7,509 | -€16,638 | -68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,146 | €7,509 | -€16,638 | -68.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.