NC PARTNERS: 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 PARTNERS
Largest movements
- Cash +€39,137
up €39,137 (+6202.5%), from €631 to €39,768
mainly Depreciation (+€28,778) and Net result for the year (+€22,030)
- Receivables within one year -€6,981
down €6,981 (-28.2%), from €24,775 to €17,793
- Tangible fixed assets -€6,746
down €6,746 (-8.8%), from €77,034 to €70,288
of which Furniture and vehicles: -€27,124
- Stocks and contracts +€4,246
up €4,246 (+252.4%), from €1,682 to €5,927
- Reserves +€22,030
up €22,030 (+40.6%), from €54,219 to €76,248
- Other debts +€13,311
up €13,311 (+41.6%), from €32,008 to €45,319
- Tax, wage and social debts -€7,283
down €7,283 (-39.5%), from €18,455 to €11,172
- Gross operating margin +€4,996
up €4,996 (+8.5%), from €58,878 to €63,873
- Taxes +€2,706
up €2,706 (+43.1%), from €6,271 to €8,976
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 | €108,296 | €138,084 | +€29,788 | +27.5% |
| Fixed assets | 21/28 | €77,034 | €70,288 | -€6,746 | -8.8% |
| Tangible fixed assets | 22/27 | €77,034 | €70,288 | -€6,746 | -8.8% |
| Furniture and vehicles | 24 | €77,034 | €49,910 | -€27,124 | -35.2% |
| Other tangible fixed assets | 26 | - | €20,378 | +€20,378 | |
| Current assets | 29/58 | €31,262 | €67,796 | +€36,534 | +116.9% |
| Stocks and contracts in progress | 3 | €1,682 | €5,927 | +€4,246 | +252.4% |
| Stocks | 30/36 | €1,682 | €5,927 | +€4,246 | +252.4% |
| Amounts receivable within one year | 40/41 | €24,775 | €17,793 | -€6,981 | -28.2% |
| Trade receivables | 40 | €24,775 | €17,793 | -€6,981 | -28.2% |
| Cash at bank and in hand | 54/58 | €631 | €39,768 | +€39,137 | +6202.5% |
| Deferred charges and accrued income | 490/1 | €4,174 | €4,307 | +€133 | +3.2% |
| Total equity and liabilities | 10/49 | €108,296 | €138,084 | +€29,788 | +27.5% |
| Equity | 10/15 | €54,339 | €76,368 | +€22,030 | +40.5% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Reserves | 13 | €54,219 | €76,248 | +€22,030 | +40.6% |
| Distributable reserves | 133 | €54,219 | €76,248 | +€22,030 | +40.6% |
| Amounts payable | 17/49 | €53,958 | €61,716 | +€7,759 | +14.4% |
| Amounts payable within one year | 42/48 | €50,918 | €58,301 | +€7,383 | +14.5% |
| Trade debts | 44 | €456 | €1,810 | +€1,355 | +297.2% |
| Suppliers | 440/4 | €456 | €1,810 | +€1,355 | +297.2% |
| Taxes, remuneration and social security | 45 | €18,455 | €11,172 | -€7,283 | -39.5% |
| Taxes | 450/3 | €18,455 | €11,172 | -€7,283 | -39.5% |
| Other amounts payable | 47/48 | €32,008 | €45,319 | +€13,311 | +41.6% |
| Accrued charges and deferred income | 492/3 | €3,039 | €3,415 | +€376 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,515 | €28,778 | +€263 | +0.9% |
| Other operating charges | 640/8 | €825 | €1,272 | +€448 | +54.3% |
| Gross operating margin | 9900 | €58,878 | €63,873 | +€4,996 | +8.5% |
| Operating profit (loss) | 9901 | €29,538 | €33,823 | +€4,285 | +14.5% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €3,408 | €2,832 | -€576 | -16.9% |
| Recurring financial charges | 65 | €3,408 | €2,832 | -€576 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €26,129 | €31,006 | +€4,877 | +18.7% |
| Income taxes | 67/77 | €6,271 | €8,976 | +€2,706 | +43.1% |
| Profit (loss) for the period | 9904 | €19,859 | €22,030 | +€2,171 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,859 | €22,030 | +€2,171 | +10.9% |
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.