NCHEM: 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.
NCHEM
Largest movements
- Stocks and contracts +€35,260
up €35,260 (+51.5%), from €68,457 to €103,717
of which Stocks: +€35,426
- Tangible fixed assets +€18,799
up €18,799 (+45.1%), from €41,704 to €60,503
of which Other tangible fixed assets: +€12,364
- Receivables within one year +€18,722
up €18,722 (+20.5%), from €91,348 to €110,070
of which Trade receivables: +€14,034
- Trade debts +€67,057
up €67,057 (+547%), from €12,258 to €79,315
- Reserves +€27,325
up €27,325 (+9.9%), from €276,095 to €303,419
- Debts after one year -€15,556
down €15,556 (-44.0%), from €35,386 to €19,830
- Current portion of long-term debt -€8,291
down €8,291 (-31.6%), from €26,225 to €17,934
- Financial income -€15,806
down €15,806 (-100.0%), from €15,806 to €0
- Gross operating margin -€15,291
down €15,291 (-15.8%), from €96,862 to €81,571
- Depreciation +€15,103
up €15,103 (+139%), from €10,849 to €25,952
- Taxes -€2,942
down €2,942 (-17.2%), from €17,108 to €14,166
- Financial charges -€2,036
down €2,036 (-14.2%), from €14,306 to €12,270
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.
Derived cash bridge
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 | €444,470 | €515,848 | +€71,378 | +16.1% |
| Fixed assets | 21/28 | €47,394 | €66,193 | +€18,799 | +39.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €41,704 | €60,503 | +€18,799 | +45.1% |
| Plant, machinery and equipment | 23 | €13,117 | €14,166 | +€1,049 | +8.0% |
| Furniture and vehicles | 24 | €26,852 | €32,239 | +€5,387 | +20.1% |
| Other tangible fixed assets | 26 | €1,735 | €14,099 | +€12,364 | +713% |
| Financial fixed assets | 28 | €5,690 | €5,690 | = | 0.0% |
| Current assets | 29/58 | €397,076 | €449,655 | +€52,579 | +13.2% |
| Amounts receivable after more than one year | 29 | €208,500 | €208,500 | = | 0.0% |
| Other amounts receivable | 291 | €208,500 | €208,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | €68,457 | €103,717 | +€35,260 | +51.5% |
| Stocks | 30/36 | €63,344 | €98,770 | +€35,426 | +55.9% |
| Contracts in progress | 37 | €5,113 | €4,947 | -€167 | -3.3% |
| Amounts receivable within one year | 40/41 | €91,348 | €110,070 | +€18,722 | +20.5% |
| Trade receivables | 40 | €9,945 | €23,979 | +€14,034 | +141% |
| Other amounts receivable | 41 | €81,403 | €86,091 | +€4,688 | +5.8% |
| Cash at bank and in hand | 54/58 | €28,771 | €27,368 | -€1,403 | -4.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €444,470 | €515,848 | +€71,378 | +16.1% |
| Equity | 10/15 | €345,729 | €373,053 | +€27,325 | +7.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €276,095 | €303,419 | +€27,325 | +9.9% |
| Distributable reserves | 133 | €276,095 | €303,419 | +€27,325 | +9.9% |
| Profit (loss) carried forward | 14 | €51,084 | €51,084 | = | 0.0% |
| Amounts payable | 17/49 | €98,741 | €142,795 | +€44,054 | +44.6% |
| Amounts payable after more than one year | 17 | €35,386 | €19,830 | -€15,556 | -44.0% |
| Financial debts | 170/4 | €35,386 | €19,830 | -€15,556 | -44.0% |
| Amounts payable within one year | 42/48 | €63,355 | €122,965 | +€59,610 | +94.1% |
| Current portion of amounts payable after more than one year | 42 | €26,225 | €17,934 | -€8,291 | -31.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €12,258 | €79,315 | +€67,057 | +547% |
| Suppliers | 440/4 | €12,258 | €79,315 | +€67,057 | +547% |
| Taxes, remuneration and social security | 45 | €24,873 | €25,716 | +€843 | +3.4% |
| Taxes | 450/3 | €24,873 | €25,716 | +€843 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,849 | €25,952 | +€15,103 | +139% |
| Other operating charges | 640/8 | €2,610 | €1,860 | -€750 | -28.7% |
| Gross operating margin | 9900 | €96,862 | €81,571 | -€15,291 | -15.8% |
| Operating profit (loss) | 9901 | €83,404 | €53,760 | -€29,644 | -35.5% |
| Financial income | 75/76B | €15,806 | €0 | -€15,806 | -100.0% |
| Recurring financial income | 75 | €15,806 | €0 | -€15,806 | -100.0% |
| Financial charges | 65/66B | €14,306 | €12,270 | -€2,036 | -14.2% |
| Recurring financial charges | 65 | €14,306 | €12,270 | -€2,036 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €84,904 | €41,490 | -€43,414 | -51.1% |
| Income taxes | 67/77 | €17,108 | €14,166 | -€2,942 | -17.2% |
| Profit (loss) for the period | 9904 | €67,796 | €27,325 | -€40,471 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,796 | €27,325 | -€40,471 | -59.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.