NCL: 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.
NCL
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€53,836
down €53,836 (-30.9%), from €174,327 to €120,491
- Reserves +€40,829
up €40,829 (+22.4%), from €182,203 to €223,032
- Other debts +€11,346
up €11,346 (+13.9%), from €81,487 to €92,833
- Tax, wage and social debts +€5,107
up €5,107 (+28.6%), from €17,851 to €22,958
- Gross operating margin +€9,113
up €9,113 (+20.9%), from €43,534 to €52,647
- Financial income -€8,703
down €8,703 (-100.0%), from €8,703 to €0
- Taxes +€2,509
up €2,509 (+29.3%), from €8,574 to €11,083
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 | €459,682 | €463,128 | +€3,446 | +0.7% |
| Fixed assets | 21/28 | €459,184 | €459,184 | = | 0.0% |
| Financial fixed assets | 28 | €459,184 | €459,184 | = | 0.0% |
| Current assets | 29/58 | €498 | €3,944 | +€3,446 | +691.7% |
| Cash at bank and in hand | 54/58 | €498 | €3,944 | +€3,446 | +691.7% |
| Total equity and liabilities | 10/49 | €459,682 | €463,128 | +€3,446 | +0.7% |
| Equity | 10/15 | €184,203 | €225,032 | +€40,829 | +22.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €182,203 | €223,032 | +€40,829 | +22.4% |
| Distributable reserves | 133 | €182,203 | €223,032 | +€40,829 | +22.4% |
| Amounts payable | 17/49 | €275,479 | €238,096 | -€37,383 | -13.6% |
| Amounts payable after more than one year | 17 | €174,327 | €120,491 | -€53,836 | -30.9% |
| Other amounts payable | 178/9 | €174,327 | €120,491 | -€53,836 | -30.9% |
| Amounts payable within one year | 42/48 | €101,152 | €117,605 | +€16,453 | +16.3% |
| Trade debts | 44 | €1,815 | €1,815 | = | 0.0% |
| Suppliers | 440/4 | €1,815 | €1,815 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €17,851 | €22,958 | +€5,107 | +28.6% |
| Taxes | 450/3 | €17,851 | €22,958 | +€5,107 | +28.6% |
| Other amounts payable | 47/48 | €81,487 | €92,833 | +€11,346 | +13.9% |
| Gross operating margin | 9900 | €43,534 | €52,647 | +€9,113 | +20.9% |
| Operating profit (loss) | 9901 | €43,534 | €52,647 | +€9,113 | +20.9% |
| Financial income | 75/76B | €8,703 | €0 | -€8,703 | -100.0% |
| Recurring financial income | 75 | €8,703 | €0 | -€8,703 | -100.0% |
| Financial charges | 65/66B | €663 | €735 | +€72 | +10.9% |
| Recurring financial charges | 65 | €663 | €735 | +€72 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €51,574 | €51,912 | +€339 | +0.7% |
| Income taxes | 67/77 | €8,574 | €11,083 | +€2,509 | +29.3% |
| Profit (loss) for the period | 9904 | €43,000 | €40,829 | -€2,170 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,000 | €40,829 | -€2,170 | -5.0% |
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 8 October 2026 via checked.be.