NCV IMMOBILIER: 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.
NCV IMMOBILIER
Largest movements
- Tangible fixed assets +€67,468
up €67,468 (+2.0%), from €3.4m to €3.5m
of which Plant, machinery and equipment: +€61,451
- Other debts +€380,100
up €380,100 (+20.8%), from €1.8m to €2.2m
- Profit (loss) carried forward -€187,415
down €187,415 (-34.2%), from -€548,601 to -€736,017
- Debts after one year -€160,602
down €160,602 (-9.2%), from €1.7m to €1.6m
- Gross operating margin -€35,236
down €35,236 (-21.1%), from €167,092 to €131,856
- Depreciation +€28,452
up €28,452 (+16.2%), from €176,113 to €204,565
- Financial charges -€23,762
down €23,762 (-21.6%), from €109,776 to €86,014
- Other operating charges +€1,944
up €1,944 (+7.3%), from €26,748 to €28,692
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 | €3,471,356 | €3,521,765 | +€50,409 | +1.5% |
| Fixed assets | 21/28 | €3,431,832 | €3,499,300 | +€67,468 | +2.0% |
| Tangible fixed assets | 22/27 | €3,431,832 | €3,499,300 | +€67,468 | +2.0% |
| Land and buildings | 22 | €3,369,569 | €3,375,586 | +€6,016 | +0.2% |
| Plant, machinery and equipment | 23 | €62,263 | €123,714 | +€61,451 | +98.7% |
| Current assets | 29/58 | €39,524 | €22,465 | -€17,059 | -43.2% |
| Cash at bank and in hand | 54/58 | €39,524 | €22,465 | -€17,059 | -43.2% |
| Total equity and liabilities | 10/49 | €3,471,356 | €3,521,765 | +€50,409 | +1.5% |
| Equity | 10/15 | -€246,601 | -€434,017 | -€187,415 | -76.0% |
| Contributions | 10/11 | €302,000 | €302,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€548,601 | -€736,017 | -€187,415 | -34.2% |
| Amounts payable | 17/49 | €3,717,958 | €3,955,782 | +€237,824 | +6.4% |
| Amounts payable after more than one year | 17 | €1,739,908 | €1,579,306 | -€160,602 | -9.2% |
| Financial debts | 170/4 | €1,739,908 | €1,579,306 | -€160,602 | -9.2% |
| Amounts payable within one year | 42/48 | €1,978,050 | €2,376,475 | +€398,426 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €145,241 | €165,656 | +€20,415 | +14.1% |
| Trade debts | 44 | €2,090 | €0 | -€2,090 | -100% |
| Suppliers | 440/4 | €2,090 | €0 | -€2,090 | -100% |
| Other amounts payable | 47/48 | €1,830,719 | €2,210,819 | +€380,100 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,113 | €204,565 | +€28,452 | +16.2% |
| Other operating charges | 640/8 | €26,748 | €28,692 | +€1,944 | +7.3% |
| Gross operating margin | 9900 | €167,092 | €131,856 | -€35,236 | -21.1% |
| Operating profit (loss) | 9901 | -€35,769 | -€101,402 | -€65,632 | -183% |
| Financial charges | 65/66B | €109,776 | €86,014 | -€23,762 | -21.6% |
| Recurring financial charges | 65 | €109,776 | €86,014 | -€23,762 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | -€145,545 | -€187,415 | -€41,870 | -28.8% |
| Profit (loss) for the period | 9904 | -€145,545 | -€187,415 | -€41,870 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€145,545 | -€187,415 | -€41,870 | -28.8% |
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 20 October 2026 via checked.be.