NCK MGMT: 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.
NCK MGMT
Largest movements
- Cash +€110,904
up €110,904 (+16.6%), from €666,345 to €777,249
mainly Net result for the year (+€252,365) and Receivables within one year (+€30,928)
- Receivables within one year -€30,928
down €30,928 (-28.6%), from €108,301 to €77,373
of which Trade receivables: -€67,092
- Reserves +€158,232
up €158,232 (+18.6%), from €852,513 to €1.0m
of which Distributable reserves: +€158,232
- Tax, wage and social debts -€91,270
down €91,270 (-92.2%), from €98,955 to €7,685
- Gross operating margin -€142,314
down €142,314 (-26.5%), from €536,880 to €394,566
- Taxes -€46,687
down €46,687 (-29.0%), from €160,889 to €114,201
- Depreciation -€10,562
down €10,562 (-31.6%), from €33,395 to €22,833
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 | €975,407 | €1,039,731 | +€64,324 | +6.6% |
| Fixed assets | 21/28 | €127,398 | €112,079 | -€15,318 | -12.0% |
| Intangible fixed assets | 21 | €25,600 | €17,067 | -€8,533 | -33.3% |
| Tangible fixed assets | 22/27 | €69,798 | €63,013 | -€6,785 | -9.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €64,051 | €57,107 | -€6,944 | -10.8% |
| Furniture and vehicles | 24 | €1,946 | €2,106 | +€160 | +8.2% |
| Other tangible fixed assets | 26 | €3,800 | €3,800 | = | 0.0% |
| Financial fixed assets | 28 | €32,000 | €32,000 | = | 0.0% |
| Current assets | 29/58 | €848,009 | €927,651 | +€79,642 | +9.4% |
| Stocks and contracts in progress | 3 | €46,874 | €46,874 | = | 0.0% |
| Stocks | 30/36 | €46,874 | €46,874 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €108,301 | €77,373 | -€30,928 | -28.6% |
| Trade receivables | 40 | €69,296 | €2,204 | -€67,092 | -96.8% |
| Other amounts receivable | 41 | €39,005 | €75,170 | +€36,165 | +92.7% |
| Current investments | 50/53 | €26,155 | €26,155 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €666,345 | €777,249 | +€110,904 | +16.6% |
| Deferred charges and accrued income | 490/1 | €335 | €0 | -€335 | -100% |
| Total equity and liabilities | 10/49 | €975,407 | €1,039,731 | +€64,324 | +6.6% |
| Equity | 10/15 | €864,913 | €1,023,145 | +€158,232 | +18.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €852,513 | €1,010,745 | +€158,232 | +18.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €852,513 | €1,010,745 | +€158,232 | +18.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €110,494 | €16,586 | -€93,908 | -85.0% |
| Amounts payable within one year | 42/48 | €110,494 | €16,586 | -€93,908 | -85.0% |
| Trade debts | 44 | €11,539 | €8,901 | -€2,638 | -22.9% |
| Suppliers | 440/4 | €11,539 | €8,901 | -€2,638 | -22.9% |
| Taxes, remuneration and social security | 45 | €98,955 | €7,685 | -€91,270 | -92.2% |
| Taxes | 450/3 | €98,955 | €7,685 | -€91,270 | -92.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,395 | €22,833 | -€10,562 | -31.6% |
| Other operating charges | 640/8 | €1,846 | €3,326 | +€1,480 | +80.2% |
| Gross operating margin | 9900 | €536,880 | €394,566 | -€142,314 | -26.5% |
| Operating profit (loss) | 9901 | €501,640 | €368,407 | -€133,232 | -26.6% |
| Financial income | 75/76B | €5,999 | €1,262 | -€4,737 | -79.0% |
| Recurring financial income | 75 | €5,999 | €1,262 | -€4,737 | -79.0% |
| Financial charges | 65/66B | €4,574 | €3,103 | -€1,470 | -32.2% |
| Recurring financial charges | 65 | €4,574 | €3,103 | -€1,470 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €503,065 | €366,566 | -€136,499 | -27.1% |
| Income taxes | 67/77 | €160,889 | €114,201 | -€46,687 | -29.0% |
| Profit (loss) for the period | 9904 | €342,176 | €252,365 | -€89,812 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €342,176 | €252,365 | -€89,812 | -26.2% |
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 22 October 2026 via checked.be.