NC&M: what changed
Two fiscal 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&M
Largest movements
- Cash -€6,245
down €6,245 (-87.0%), from €7,179 to €935
mainly Receivables after one year (-€5,828) and Other debts (-€4,162)
- Receivables after one year +€5,828
up €5,828 (+291.3%), from €2,001 to €7,829
of which Trade receivables: +€7,829
- Tangible fixed assets -€3,242
down €3,242 (-47.8%), from €6,784 to €3,542
- Receivables within one year -€1,689
no longer reported in 2025 (was €1,689)
- Deferred charges and accrued income +€816
new in 2025: €816
- Other debts -€4,162
down €4,162 (-14.2%), from €29,357 to €25,195
- Trade debts -€2,296
down €2,296 (-36.7%), from €6,248 to €3,953
- Tax, wage and social debts +€2,277
up €2,277 (+57.6%), from €3,955 to €6,232
- Short-term financial debts -€634
no longer reported in 2025 (was €634)
- Profit (loss) carried forward +€283
up €283 (+0.4%), from -€65,602 to -€65,319
- Gross operating margin +€12,392
up €12,392, from -€6,183 to €6,209
- Depreciation -€487
down €487 (-11.7%), from €4,157 to €3,671
- Financial charges +€257
up €257 (+65.0%), from €396 to €653
- Taxes +€228
up €228 (+97.8%), from €233 to €461
- Financial income +€166
up €166 (+204.9%), from €81 to €247
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.
Cash bridge derived
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 | €17,653 | €13,122 | -€4,531 | -25.7% |
| Fixed assets | 21/28 | €6,784 | €3,542 | -€3,242 | -47.8% |
| Tangible fixed assets | 22/27 | €6,784 | €3,542 | -€3,242 | -47.8% |
| Land and buildings | 22 | €3,118 | €1,559 | -€1,559 | -50.0% |
| Plant, machinery and equipment | 23 | €2,045 | €898 | -€1,146 | -56.1% |
| Furniture and vehicles | 24 | €1,620 | €1,084 | -€536 | -33.1% |
| Current assets | 29/58 | €10,869 | €9,580 | -€1,289 | -11.9% |
| Amounts receivable after more than one year | 29 | €2,001 | €7,829 | +€5,828 | +291.3% |
| Trade receivables | 290 | - | €7,829 | +€7,829 | |
| Other amounts receivable | 291 | €2,001 | - | -€2,001 | |
| Amounts receivable within one year | 40/41 | €1,689 | - | -€1,689 | |
| Trade receivables | 40 | €1,689 | - | -€1,689 | |
| Cash at bank and in hand | 54/58 | €7,179 | €935 | -€6,245 | -87.0% |
| Deferred charges and accrued income | 490/1 | - | €816 | +€816 | |
| Total equity and liabilities | 10/49 | €17,653 | €13,122 | -€4,531 | -25.7% |
| Equity | 10/15 | -€22,542 | -€22,259 | +€283 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36,860 | €36,860 | = | 0.0% |
| Distributable reserves | 133 | €36,860 | €36,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,602 | -€65,319 | +€283 | +0.4% |
| Amounts payable | 17/49 | €40,194 | €35,381 | -€4,814 | -12.0% |
| Amounts payable within one year | 42/48 | €40,194 | €35,381 | -€4,814 | -12.0% |
| Financial debts | 43 | €634 | - | -€634 | |
| Credit institutions | 430/8 | €634 | - | -€634 | |
| Trade debts | 44 | €6,248 | €3,953 | -€2,296 | -36.7% |
| Suppliers | 440/4 | €6,248 | €3,953 | -€2,296 | -36.7% |
| Taxes, remuneration and social security | 45 | €3,955 | €6,232 | +€2,277 | +57.6% |
| Taxes | 450/3 | €3,955 | €6,232 | +€2,277 | +57.6% |
| Other amounts payable | 47/48 | €29,357 | €25,195 | -€4,162 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,157 | €3,671 | -€487 | -11.7% |
| Other operating charges | 640/8 | €1,345 | €1,388 | +€43 | +3.2% |
| Gross operating margin | 9900 | -€6,183 | €6,209 | +€12,392 | |
| Operating profit (loss) | 9901 | -€11,686 | €1,150 | +€12,836 | |
| Financial income | 75/76B | €81 | €247 | +€166 | +204.9% |
| Recurring financial income | 75 | €81 | €247 | +€166 | +204.9% |
| Financial charges | 65/66B | €396 | €653 | +€257 | +65.0% |
| Recurring financial charges | 65 | €396 | €653 | +€257 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,000 | €744 | +€12,745 | |
| Income taxes | 67/77 | €233 | €461 | +€228 | +97.8% |
| Profit (loss) for the period | 9904 | -€12,233 | €283 | +€12,516 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,233 | €283 | +€12,516 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.