NCAB Group Belgium: what changed
NCAB Group Belgium
Largest movements
- Cash -€33,406
down €33,406 (-53.4%), from €62,551 to €29,145
mainly Trade debts (-€25,549) and Receivables within one year (-€23,937)
- Receivables within one year +€23,937
up €23,937 (+32.3%), from €74,065 to €98,002
of which Trade receivables: +€25,715
- Tangible fixed assets +€9,420
up €9,420 (+46.2%), from €20,405 to €29,825
of which Other tangible fixed assets: +€7,255
- Stocks and contracts -€5,381
down €5,381 (-26.5%), from €20,317 to €14,936
- Reserves +€36,128
up €36,128 (+33.6%), from €107,662 to €143,790
- Trade debts -€25,549
down €25,549 (-79.9%), from €31,984 to €6,435
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts +€4,578
up €4,578 (+43.1%), from €10,616 to €15,194
of which Taxes: +€6,931
- Gross operating margin +€98,051
up €98,051 (+128%), from €76,779 to €174,830
- Staff costs +€38,700
up €38,700 (+63.6%), from €60,840 to €99,540
- Taxes +€12,552
up €12,552 (+886%), from €1,416 to €13,968
- Financial charges -€3,131
down €3,131 (-66.6%), from €4,700 to €1,569
- Depreciation +€2,988
up €2,988 (+55.0%), from €5,429 to €8,417
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 | €182,261 | €177,418 | -€4,843 | -2.7% |
| Fixed assets | 21/28 | €25,297 | €33,540 | +€8,244 | +32.6% |
| Intangible fixed assets | 21 | €3,244 | €2,068 | -€1,176 | -36.3% |
| Tangible fixed assets | 22/27 | €20,405 | €29,825 | +€9,420 | +46.2% |
| Plant, machinery and equipment | 23 | €3,165 | €5,238 | +€2,073 | +65.5% |
| Furniture and vehicles | 24 | €17,240 | €17,332 | +€92 | +0.5% |
| Other tangible fixed assets | 26 | - | €7,255 | +€7,255 | |
| Financial fixed assets | 28 | €1,647 | €1,647 | = | 0.0% |
| Current assets | 29/58 | €156,964 | €143,877 | -€13,087 | -8.3% |
| Stocks and contracts in progress | 3 | €20,317 | €14,936 | -€5,381 | -26.5% |
| Stocks | 30/36 | €20,317 | €14,936 | -€5,381 | -26.5% |
| Amounts receivable within one year | 40/41 | €74,065 | €98,002 | +€23,937 | +32.3% |
| Trade receivables | 40 | €60,483 | €86,198 | +€25,715 | +42.5% |
| Other amounts receivable | 41 | €13,582 | €11,804 | -€1,778 | -13.1% |
| Cash at bank and in hand | 54/58 | €62,551 | €29,145 | -€33,406 | -53.4% |
| Deferred charges and accrued income | 490/1 | €31 | €1,793 | +€1,763 | +5,757% |
| Total equity and liabilities | 10/49 | €182,261 | €177,418 | -€4,843 | -2.7% |
| Equity | 10/15 | €119,662 | €155,790 | +€36,128 | +30.2% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €107,662 | €143,790 | +€36,128 | +33.6% |
| Distributable reserves | 133 | €107,662 | €143,790 | +€36,128 | +33.6% |
| Amounts payable | 17/49 | €62,599 | €21,628 | -€40,971 | -65.4% |
| Amounts payable within one year | 42/48 | €62,599 | €21,628 | -€40,971 | -65.4% |
| Trade debts | 44 | €31,984 | €6,435 | -€25,549 | -79.9% |
| Suppliers | 440/4 | €31,984 | €6,435 | -€25,549 | -79.9% |
| Taxes, remuneration and social security | 45 | €10,616 | €15,194 | +€4,578 | +43.1% |
| Taxes | 450/3 | €8,263 | €15,194 | +€6,931 | +83.9% |
| Remuneration and social security | 454/9 | €2,353 | - | -€2,353 | |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Non-recurring operating income | 76A | - | €4,092 | +€4,092 | |
| Remuneration, social security and pensions | 62 | €60,840 | €99,540 | +€38,700 | +63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,429 | €8,417 | +€2,988 | +55.0% |
| Other operating charges | 640/8 | €2,674 | €530 | -€2,144 | -80.2% |
| Non-recurring operating charges | 66A | - | €14,779 | +€14,779 | |
| Gross operating margin | 9900 | €76,779 | €174,830 | +€98,051 | +128% |
| Operating profit (loss) | 9901 | €7,837 | €51,565 | +€43,728 | +558% |
| Financial income | 75/76B | €474 | €100 | -€374 | -78.9% |
| Recurring financial income | 75 | €474 | €100 | -€374 | -78.9% |
| Financial charges | 65/66B | €4,700 | €1,569 | -€3,131 | -66.6% |
| Recurring financial charges | 65 | €4,700 | €1,569 | -€3,131 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €3,611 | €50,096 | +€46,485 | +1,287% |
| Income taxes | 67/77 | €1,416 | €13,968 | +€12,552 | +886% |
| Profit (loss) for the period | 9904 | €2,194 | €36,128 | +€33,933 | +1,546% |
| Profit (loss) for the period to be appropriated | 9905 | €2,194 | €36,128 | +€33,933 | +1,546% |
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 5 November 2026 via checked.be.