NGEN: 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.
NGEN
Largest movements
- Cash -€20,961
down €20,961 (-12.6%), from €166,819 to €145,858
mainly Other debts (-€44,884) and Contributions, distributions and other (-€33,833)
- Tangible fixed assets -€16,196
down €16,196 (-4.3%), from €373,752 to €357,556
of which Land and buildings: -€10,512
- Deferred charges and accrued income +€10,090
up €10,090 (+4,836%), from €209 to €10,298
- Receivables within one year +€5,884
up €5,884 (+39.7%), from €14,818 to €20,702
of which Trade receivables: +€6,922
- Other debts -€44,884
down €44,884 (-44.3%), from €101,259 to €56,375
- Reserves +€16,000
up €16,000 (+24.7%), from €64,860 to €80,860
- Tax, wage and social debts +€11,503
up €11,503 (+86.1%), from €13,353 to €24,856
of which Taxes: +€8,393
- Debts after one year -€9,869
down €9,869 (-3.8%), from €261,402 to €251,533
- Trade debts +€5,584
up €5,584 (+540%), from €1,035 to €6,618
- Other operating charges -€44,779
down €44,779 (-96.4%), from €46,473 to €1,694
- Gross operating margin +€22,267
up €22,267 (+27.7%), from €80,369 to €102,635
- Taxes +€18,970
up €18,970 (+788%), from €2,407 to €21,377
- Financial charges +€1,686
up €1,686 (+14.0%), from €12,038 to €13,724
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 | €556,196 | €535,013 | -€21,183 | -3.8% |
| Fixed assets | 21/28 | €373,850 | €357,654 | -€16,196 | -4.3% |
| Tangible fixed assets | 22/27 | €373,752 | €357,556 | -€16,196 | -4.3% |
| Land and buildings | 22 | €355,594 | €345,083 | -€10,512 | -3.0% |
| Furniture and vehicles | 24 | €9,731 | €5,909 | -€3,822 | -39.3% |
| Other tangible fixed assets | 26 | €8,427 | €6,565 | -€1,862 | -22.1% |
| Financial fixed assets | 28 | €98 | €98 | = | 0.0% |
| Current assets | 29/58 | €182,346 | €177,359 | -€4,987 | -2.7% |
| Amounts receivable within one year | 40/41 | €14,818 | €20,702 | +€5,884 | +39.7% |
| Trade receivables | 40 | €12,710 | €19,632 | +€6,922 | +54.5% |
| Other amounts receivable | 41 | €2,108 | €1,071 | -€1,037 | -49.2% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €166,819 | €145,858 | -€20,961 | -12.6% |
| Deferred charges and accrued income | 490/1 | €209 | €10,298 | +€10,090 | +4,836% |
| Total equity and liabilities | 10/49 | €556,196 | €535,013 | -€21,183 | -3.8% |
| Equity | 10/15 | €167,962 | €184,041 | +€16,079 | +9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €64,860 | €80,860 | +€16,000 | +24.7% |
| Distributable reserves | 133 | €64,860 | €80,860 | +€16,000 | +24.7% |
| Profit (loss) carried forward | 14 | €96,902 | €96,981 | +€79 | +0.1% |
| Amounts payable | 17/49 | €388,234 | €350,972 | -€37,262 | -9.6% |
| Amounts payable after more than one year | 17 | €261,402 | €251,533 | -€9,869 | -3.8% |
| Financial debts | 170/4 | €261,402 | €251,533 | -€9,869 | -3.8% |
| Amounts payable within one year | 42/48 | €126,832 | €99,440 | -€27,392 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €11,185 | €11,590 | +€405 | +3.6% |
| Trade debts | 44 | €1,035 | €6,618 | +€5,584 | +540% |
| Suppliers | 440/4 | €1,035 | €6,618 | +€5,584 | +540% |
| Taxes, remuneration and social security | 45 | €13,353 | €24,856 | +€11,503 | +86.1% |
| Taxes | 450/3 | €13,353 | €21,746 | +€8,393 | +62.9% |
| Remuneration and social security | 454/9 | - | €3,110 | +€3,110 | |
| Other amounts payable | 47/48 | €101,259 | €56,375 | -€44,884 | -44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,187 | €16,809 | +€622 | +3.8% |
| Other operating charges | 640/8 | €46,473 | €1,694 | -€44,779 | -96.4% |
| Gross operating margin | 9900 | €80,369 | €102,635 | +€22,267 | +27.7% |
| Operating profit (loss) | 9901 | €17,709 | €84,132 | +€66,424 | +375% |
| Financial income | 75/76B | €874 | €881 | +€7 | +0.8% |
| Recurring financial income | 75 | €874 | €881 | +€7 | +0.8% |
| Financial charges | 65/66B | €12,038 | €13,724 | +€1,686 | +14.0% |
| Recurring financial charges | 65 | €12,038 | €13,724 | +€1,686 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €6,545 | €71,289 | +€64,745 | +989% |
| Income taxes | 67/77 | €2,407 | €21,377 | +€18,970 | +788% |
| Profit (loss) for the period | 9904 | €4,138 | €49,912 | +€45,774 | +1,106% |
| Profit (loss) for the period to be appropriated | 9905 | €4,138 | €49,912 | +€45,774 | +1,106% |
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 17 October 2026 via checked.be.