NG.Projects: 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.
NG.Projects
Largest movements
- Stocks and contracts -€596,118
down €596,118 (-100%), from €596,118 to €0
- Cash +€141,219
up €141,219 (+1,062%), from €13,297 to €154,516
mainly Stocks and contracts (+€596,118) and Net result for the year (+€55,757)
- Tangible fixed assets -€33,989
down €33,989 (-4.2%), from €812,312 to €778,323
of which Land and buildings: -€32,666
- Debts after one year -€290,811
down €290,811 (-42.5%), from €684,859 to €394,048
of which Other amounts payable: -€260,000
- Short-term financial debts -€247,000
down €247,000 (-100%), from €247,000 to €0
- Reserves +€55,757
up €55,757 (+10.9%), from €513,291 to €569,048
of which Distributable reserves: +€59,103
- Gross operating margin +€33,620
up €33,620 (+73.0%), from €46,054 to €79,674
- Financial income +€29,588
up €29,588 (+145%), from €20,413 to €50,001
- Financial charges +€15,448
up €15,448 (+183%), from €8,462 to €23,910
- Depreciation +€8,989
up €8,989 (+36.0%), from €24,999 to €33,989
- Other operating charges +€1,195
up €1,195 (+36.2%), from €3,297 to €4,493
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 | €1,629,347 | €1,133,627 | -€495,720 | -30.4% |
| Fixed assets | 21/28 | €987,312 | €953,323 | -€33,989 | -3.4% |
| Tangible fixed assets | 22/27 | €812,312 | €778,323 | -€33,989 | -4.2% |
| Land and buildings | 22 | €809,585 | €776,918 | -€32,666 | -4.0% |
| Plant, machinery and equipment | 23 | €1,922 | €600 | -€1,323 | -68.8% |
| Furniture and vehicles | 24 | €805 | €805 | = | 0.0% |
| Financial fixed assets | 28 | €175,000 | €175,000 | = | 0.0% |
| Current assets | 29/58 | €642,035 | €180,304 | -€461,732 | -71.9% |
| Stocks and contracts in progress | 3 | €596,118 | €0 | -€596,118 | -100% |
| Stocks | 30/36 | €596,118 | €0 | -€596,118 | -100% |
| Amounts receivable within one year | 40/41 | €32,620 | €20,797 | -€11,822 | -36.2% |
| Trade receivables | 40 | €7,764 | €13,814 | +€6,050 | +77.9% |
| Other amounts receivable | 41 | €24,855 | €6,983 | -€17,872 | -71.9% |
| Cash at bank and in hand | 54/58 | €13,297 | €154,516 | +€141,219 | +1,062% |
| Deferred charges and accrued income | 490/1 | - | €4,990 | +€4,990 | |
| Total equity and liabilities | 10/49 | €1,629,347 | €1,133,627 | -€495,720 | -30.4% |
| Equity | 10/15 | €531,891 | €587,648 | +€55,757 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €513,291 | €569,048 | +€55,757 | +10.9% |
| Tax-exempt reserves | 132 | €143,810 | €140,464 | -€3,346 | -2.3% |
| Distributable reserves | 133 | €369,481 | €428,584 | +€59,103 | +16.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €66,369 | €65,254 | -€1,115 | -1.7% |
| Provisions for liabilities and charges | 160/5 | €11,086 | €11,086 | = | 0.0% |
| Pensions and similar obligations | 160 | €11,086 | €11,086 | = | 0.0% |
| Deferred taxes | 168 | €55,283 | €54,168 | -€1,115 | -2.0% |
| Amounts payable | 17/49 | €1,031,087 | €480,725 | -€550,362 | -53.4% |
| Amounts payable after more than one year | 17 | €684,859 | €394,048 | -€290,811 | -42.5% |
| Financial debts | 170/4 | €424,859 | €394,048 | -€30,811 | -7.3% |
| Other amounts payable | 178/9 | €260,000 | €0 | -€260,000 | -100% |
| Amounts payable within one year | 42/48 | €346,227 | €86,677 | -€259,550 | -75.0% |
| Current portion of amounts payable after more than one year | 42 | €30,115 | €30,811 | +€696 | +2.3% |
| Financial debts | 43 | €247,000 | €0 | -€247,000 | -100% |
| Credit institutions | 430/8 | €247,000 | €0 | -€247,000 | -100% |
| Trade debts | 44 | €43,155 | €42,243 | -€912 | -2.1% |
| Suppliers | 440/4 | €43,155 | €42,243 | -€912 | -2.1% |
| Taxes, remuneration and social security | 45 | €24,875 | €13,623 | -€11,252 | -45.2% |
| Taxes | 450/3 | €24,875 | €13,623 | -€11,252 | -45.2% |
| Other amounts payable | 47/48 | €1,081 | €0 | -€1,081 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €288 | €0 | -€288 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,999 | €33,989 | +€8,989 | +36.0% |
| Other operating charges | 640/8 | €3,297 | €4,493 | +€1,195 | +36.2% |
| Gross operating margin | 9900 | €46,054 | €79,674 | +€33,620 | +73.0% |
| Operating profit (loss) | 9901 | €17,469 | €41,192 | +€23,724 | +136% |
| Financial income | 75/76B | €20,413 | €50,001 | +€29,588 | +145% |
| Recurring financial income | 75 | €20,413 | €50,001 | +€29,588 | +145% |
| Financial charges | 65/66B | €8,462 | €23,910 | +€15,448 | +183% |
| Recurring financial charges | 65 | €8,462 | €23,910 | +€15,448 | +183% |
| Profit (loss) for the period before taxes | 9903 | €29,420 | €67,283 | +€37,864 | +129% |
| Transfer from deferred taxes | 780 | €1,115 | €1,115 | = | 0.0% |
| Income taxes | 67/77 | €13,343 | €12,642 | -€701 | -5.3% |
| Profit (loss) for the period | 9904 | €17,192 | €55,757 | +€38,565 | +224% |
| Transfer from tax-exempt reserves | 789 | €3,346 | €3,346 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,538 | €59,103 | +€38,565 | +188% |
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 24 October 2026 via checked.be.