NCL PARTNERS: 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.
NCL PARTNERS
Largest movements
- Financial fixed assets +€88,123
new in 2026: €88,123
- Receivables within one year -€80,778
down €80,778 (-24.4%), from €330,505 to €249,727
- Profit (loss) carried forward +€13,086
up €13,086 (+4.2%), from €310,926 to €324,011
- Tax, wage and social debts -€10,958
down €10,958 (-64.3%), from €17,031 to €6,074
- Other debts +€4,878
up €4,878 (+194%), from €2,519 to €7,397
- Gross operating margin -€34,838
down €34,838 (-64.4%), from €54,074 to €19,236
- Taxes -€10,294
down €10,294 (-70.8%), from €14,544 to €4,250
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €333,673 | €339,665 | +€5,992 | +1.8% |
| Fixed assets | 21/28 | €1,499 | €89,182 | +€87,683 | +5,850% |
| Tangible fixed assets | 22/27 | €1,499 | €1,059 | -€440 | -29.4% |
| Furniture and vehicles | 24 | €1,499 | €1,059 | -€440 | -29.4% |
| Financial fixed assets | 28 | - | €88,123 | +€88,123 | |
| Current assets | 29/58 | €332,174 | €250,482 | -€81,692 | -24.6% |
| Amounts receivable within one year | 40/41 | €330,505 | €249,727 | -€80,778 | -24.4% |
| Trade receivables | 40 | €330,505 | €249,727 | -€80,778 | -24.4% |
| Cash at bank and in hand | 54/58 | €1,670 | €755 | -€914 | -54.8% |
| Total equity and liabilities | 10/49 | €333,673 | €339,665 | +€5,992 | +1.8% |
| Equity | 10/15 | €312,926 | €326,011 | +€13,086 | +4.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310,926 | €324,011 | +€13,086 | +4.2% |
| Amounts payable | 17/49 | €20,747 | €13,653 | -€7,094 | -34.2% |
| Amounts payable within one year | 42/48 | €20,634 | €13,551 | -€7,084 | -34.3% |
| Trade debts | 44 | €1,084 | €80 | -€1,004 | -92.6% |
| Suppliers | 440/4 | €1,084 | €80 | -€1,004 | -92.6% |
| Taxes, remuneration and social security | 45 | €17,031 | €6,074 | -€10,958 | -64.3% |
| Taxes | 450/3 | €17,031 | €6,074 | -€10,958 | -64.3% |
| Other amounts payable | 47/48 | €2,519 | €7,397 | +€4,878 | +194% |
| Accrued charges and deferred income | 492/3 | €113 | €102 | -€10 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,112 | €1,142 | +€30 | +2.7% |
| Other operating charges | 640/8 | €487 | €402 | -€85 | -17.5% |
| Gross operating margin | 9900 | €54,074 | €19,236 | -€34,838 | -64.4% |
| Operating profit (loss) | 9901 | €52,474 | €17,692 | -€34,782 | -66.3% |
| Financial charges | 65/66B | €236 | €356 | +€120 | +51.0% |
| Recurring financial charges | 65 | €236 | €356 | +€120 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €52,238 | €17,336 | -€34,903 | -66.8% |
| Income taxes | 67/77 | €14,544 | €4,250 | -€10,294 | -70.8% |
| Profit (loss) for the period | 9904 | €37,694 | €13,086 | -€24,608 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,694 | €13,086 | -€24,608 | -65.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.