NCI: 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.
NCI
Largest movements
- Cash +€5,893
up €5,893 (+42.2%), from €13,963 to €19,856
mainly Net result for the year (+€13,046) and Depreciation (+€12,793)
- Tangible fixed assets -€5,669
down €5,669 (-1.3%), from €438,138 to €432,469
of which Other tangible fixed assets: -€25,487
- Debts after one year -€17,716
down €17,716 (-6.0%), from €296,099 to €278,383
- Profit (loss) carried forward +€13,046
up €13,046, from -€5,422 to €7,624
- Gross operating margin +€3,135
up €3,135 (+7.1%), from €44,365 to €47,500
- Taxes +€1,947
new in 2025: €1,947
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 | €456,514 | €453,505 | -€3,009 | -0.7% |
| Fixed assets | 21/28 | €438,138 | €432,469 | -€5,669 | -1.3% |
| Tangible fixed assets | 22/27 | €438,138 | €432,469 | -€5,669 | -1.3% |
| Land and buildings | 22 | €412,651 | €423,379 | +€10,728 | +2.6% |
| Plant, machinery and equipment | 23 | - | €5,159 | +€5,159 | |
| Furniture and vehicles | 24 | - | €3,931 | +€3,931 | |
| Other tangible fixed assets | 26 | €25,487 | €0 | -€25,487 | -100.0% |
| Current assets | 29/58 | €18,376 | €21,036 | +€2,660 | +14.5% |
| Amounts receivable within one year | 40/41 | €3,430 | €289 | -€3,141 | -91.6% |
| Trade receivables | 40 | €1,765 | €269 | -€1,497 | -84.8% |
| Other amounts receivable | 41 | €1,664 | €20 | -€1,644 | -98.8% |
| Cash at bank and in hand | 54/58 | €13,963 | €19,856 | +€5,893 | +42.2% |
| Deferred charges and accrued income | 490/1 | €983 | €892 | -€91 | -9.3% |
| Total equity and liabilities | 10/49 | €456,514 | €453,505 | -€3,009 | -0.7% |
| Equity | 10/15 | €54,578 | €67,624 | +€13,046 | +23.9% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,422 | €7,624 | +€13,046 | |
| Amounts payable | 17/49 | €401,936 | €385,882 | -€16,055 | -4.0% |
| Amounts payable after more than one year | 17 | €296,099 | €278,383 | -€17,716 | -6.0% |
| Financial debts | 170/4 | €296,099 | €278,383 | -€17,716 | -6.0% |
| Amounts payable within one year | 42/48 | €102,432 | €103,635 | +€1,203 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €23,062 | €20,912 | -€2,149 | -9.3% |
| Trade debts | 44 | €2,059 | €2,477 | +€418 | +20.3% |
| Suppliers | 440/4 | €2,059 | €2,477 | +€418 | +20.3% |
| Taxes, remuneration and social security | 45 | - | €488 | +€488 | |
| Taxes | 450/3 | - | €488 | +€488 | |
| Other amounts payable | 47/48 | €77,311 | €79,757 | +€2,447 | +3.2% |
| Accrued charges and deferred income | 492/3 | €3,406 | €3,864 | +€458 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,556 | €12,793 | +€237 | +1.9% |
| Other operating charges | 640/8 | €2,342 | €2,634 | +€292 | +12.5% |
| Gross operating margin | 9900 | €44,365 | €47,500 | +€3,135 | +7.1% |
| Operating profit (loss) | 9901 | €29,468 | €32,073 | +€2,605 | +8.8% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €17,355 | €17,084 | -€271 | -1.6% |
| Recurring financial charges | 65 | €17,355 | €17,084 | -€271 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €12,113 | €14,992 | +€2,880 | +23.8% |
| Income taxes | 67/77 | - | €1,947 | +€1,947 | |
| Profit (loss) for the period | 9904 | €12,113 | €13,046 | +€933 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,113 | €13,046 | +€933 | +7.7% |
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 29 September 2026 via checked.be.