NGC MED: 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.
NGC MED
Largest movements
- Receivables within one year +€34,004
up €34,004 (+167.4%), from €20,318 to €54,322
- Cash +€26,100
up €26,100 (+31.1%), from €83,919 to €110,019
mainly Net result for the year (+€96,789) and Depreciation (+€32,925)
- Current investments +€25,743
up €25,743 (+32.3%), from €79,729 to €105,471
- Intangible fixed assets -€25,000
down €25,000 (-22.2%), from €112,500 to €87,500
- Deferred charges and accrued income +€24,446
up €24,446 (+118.1%), from €20,706 to €45,152
- Profit (loss) carried forward +€96,789
new in 2025: €96,789
- Debts after one year -€25,409
down €25,409 (-20.2%), from €125,618 to €100,210
- Tax, wage and social debts +€13,675
up €13,675 (+201.1%), from €6,801 to €20,476
- Current portion of long-term debt -€6,403
down €6,403 (-17.8%), from €35,887 to €29,484
- Gross operating margin +€35,869
up €35,869 (+26.5%), from €135,144 to €171,013
- Taxes +€14,529
up €14,529 (+55.0%), from €26,440 to €40,969
- Depreciation -€6,364
down €6,364 (-16.2%), from €39,289 to €32,925
- Financial income +€2,165
up €2,165 (+978.9%), from €221 to €2,386
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 | €325,655 | €405,742 | +€80,086 | +24.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €120,985 | €90,778 | -€30,207 | -25.0% |
| Intangible fixed assets | 21 | €112,500 | €87,500 | -€25,000 | -22.2% |
| Tangible fixed assets | 22/27 | €8,485 | €3,278 | -€5,207 | -61.4% |
| Furniture and vehicles | 24 | €8,485 | €3,278 | -€5,207 | -61.4% |
| Current assets | 29/58 | €204,671 | €314,964 | +€110,293 | +53.9% |
| Amounts receivable within one year | 40/41 | €20,318 | €54,322 | +€34,004 | +167.4% |
| Other amounts receivable | 41 | €20,318 | €54,322 | +€34,004 | +167.4% |
| Current investments | 50/53 | €79,729 | €105,471 | +€25,743 | +32.3% |
| Cash at bank and in hand | 54/58 | €83,919 | €110,019 | +€26,100 | +31.1% |
| Deferred charges and accrued income | 490/1 | €20,706 | €45,152 | +€24,446 | +118.1% |
| Total equity and liabilities | 10/49 | €325,655 | €405,742 | +€80,086 | +24.6% |
| Equity | 10/15 | €157,320 | €254,109 | +€96,789 | +61.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €152,320 | €152,320 | = | 0.0% |
| Distributable reserves | 133 | €152,320 | €152,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €96,789 | +€96,789 | |
| Amounts payable | 17/49 | €168,335 | €151,633 | -€16,702 | -9.9% |
| Amounts payable after more than one year | 17 | €125,618 | €100,210 | -€25,409 | -20.2% |
| Financial debts | 170/4 | €125,618 | €100,210 | -€25,409 | -20.2% |
| Amounts payable within one year | 42/48 | €42,689 | €51,423 | +€8,735 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €35,887 | €29,484 | -€6,403 | -17.8% |
| Trade debts | 44 | - | €1,463 | +€1,463 | |
| Suppliers | 440/4 | - | €1,463 | +€1,463 | |
| Taxes, remuneration and social security | 45 | €6,801 | €20,476 | +€13,675 | +201.1% |
| Taxes | 450/3 | €6,801 | €20,476 | +€13,675 | +201.1% |
| Accrued charges and deferred income | 492/3 | €28 | - | -€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,289 | €32,925 | -€6,364 | -16.2% |
| Other operating charges | 640/8 | €572 | €400 | -€173 | -30.2% |
| Gross operating margin | 9900 | €135,144 | €171,013 | +€35,869 | +26.5% |
| Operating profit (loss) | 9901 | €95,282 | €137,688 | +€42,406 | +44.5% |
| Financial income | 75/76B | €221 | €2,386 | +€2,165 | +978.9% |
| Recurring financial income | 75 | €221 | €2,386 | +€2,165 | +978.9% |
| Financial charges | 65/66B | €3,005 | €2,316 | -€689 | -22.9% |
| Recurring financial charges | 65 | €3,005 | €2,316 | -€689 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €92,498 | €137,758 | +€45,259 | +48.9% |
| Income taxes | 67/77 | €26,440 | €40,969 | +€14,529 | +55.0% |
| Profit (loss) for the period | 9904 | €66,058 | €96,789 | +€30,730 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,058 | €96,789 | +€30,730 | +46.5% |
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 10 October 2026 via checked.be.