NGF CONSULT: what changed
Two fiscal 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.
NGF CONSULT
Largest movements
- Tangible fixed assets +€412,332
up €412,332 (+23.4%), from €1.8m to €2.2m
of which Land and buildings: +€430,045
- Receivables within one year +€72,127
up €72,127 (+166.2%), from €43,402 to €115,529
- Deferred charges and accrued income -€42,975
no longer reported in 2025 (was €42,975)
- Debts after one year +€251,819
up €251,819 (+28.8%), from €875,634 to €1.1m
- Reserves +€208,657
up €208,657 (+128.9%), from €161,860 to €370,517
- Other debts -€101,695
down €101,695 (-21.5%), from €473,211 to €371,516
- Current portion of long-term debt +€42,419
up €42,419 (+28.6%), from €148,149 to €190,568
- Tax, wage and social debts +€39,475
up €39,475 (+87.0%), from €45,358 to €84,833
of which Taxes: +€44,991
- Gross operating margin +€156,413
up €156,413 (+39.6%), from €395,015 to €551,428
- Depreciation +€76,406
up €76,406 (+75.4%), from €101,286 to €177,692
- Staff costs -€66,780
down €66,780 (-91.2%), from €73,211 to €6,431
- Taxes +€53,181
up €53,181 (+136.2%), from €39,052 to €92,233
- Financial charges -€13,594
down €13,594 (-17.2%), from €78,814 to €65,220
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 | €1,890,275 | €2,329,955 | +€439,680 | +23.3% |
| Fixed assets | 21/28 | €1,763,921 | €2,176,253 | +€412,332 | +23.4% |
| Tangible fixed assets | 22/27 | €1,763,921 | €2,176,253 | +€412,332 | +23.4% |
| Land and buildings | 22 | €1,702,532 | €2,132,577 | +€430,045 | +25.3% |
| Plant, machinery and equipment | 23 | €4,453 | €3,944 | -€509 | -11.4% |
| Furniture and vehicles | 24 | €56,936 | €39,732 | -€17,204 | -30.2% |
| Current assets | 29/58 | €126,354 | €153,702 | +€27,348 | +21.6% |
| Amounts receivable within one year | 40/41 | €43,402 | €115,529 | +€72,127 | +166.2% |
| Trade receivables | 40 | €43,402 | €115,529 | +€72,127 | +166.2% |
| Cash at bank and in hand | 54/58 | €39,977 | €38,174 | -€1,803 | -4.5% |
| Deferred charges and accrued income | 490/1 | €42,975 | - | -€42,975 | |
| Total equity and liabilities | 10/49 | €1,890,275 | €2,329,955 | +€439,680 | +23.3% |
| Equity | 10/15 | €315,099 | €523,756 | +€208,657 | +66.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,860 | €370,517 | +€208,657 | +128.9% |
| Distributable reserves | 133 | €161,860 | €370,517 | +€208,657 | +128.9% |
| Profit (loss) carried forward | 14 | €134,639 | €134,639 | +€0 | 0.0% |
| Amounts payable | 17/49 | €1,575,176 | €1,806,199 | +€231,023 | +14.7% |
| Amounts payable after more than one year | 17 | €875,634 | €1,127,453 | +€251,819 | +28.8% |
| Financial debts | 170/4 | €875,634 | €1,127,453 | +€251,819 | +28.8% |
| Amounts payable within one year | 42/48 | €699,542 | €678,746 | -€20,796 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €148,149 | €190,568 | +€42,419 | +28.6% |
| Trade debts | 44 | €32,824 | €31,829 | -€995 | -3.0% |
| Suppliers | 440/4 | €32,824 | €31,829 | -€995 | -3.0% |
| Taxes, remuneration and social security | 45 | €45,358 | €84,833 | +€39,475 | +87.0% |
| Taxes | 450/3 | €39,842 | €84,833 | +€44,991 | +112.9% |
| Remuneration and social security | 454/9 | €5,516 | - | -€5,516 | |
| Other amounts payable | 47/48 | €473,211 | €371,516 | -€101,695 | -21.5% |
| Remuneration, social security and pensions | 62 | €73,211 | €6,431 | -€66,780 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,286 | €177,692 | +€76,406 | +75.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,344 | - | -€2,344 | |
| Other operating charges | 640/8 | - | €534 | +€534 | |
| Non-recurring operating charges | 66A | - | €746 | +€746 | |
| Gross operating margin | 9900 | €395,015 | €551,428 | +€156,413 | +39.6% |
| Operating profit (loss) | 9901 | €218,174 | €366,026 | +€147,852 | +67.8% |
| Financial income | 75/76B | €52 | €83 | +€31 | +60.6% |
| Recurring financial income | 75 | €52 | €83 | +€31 | +60.6% |
| Financial charges | 65/66B | €78,814 | €65,220 | -€13,594 | -17.2% |
| Recurring financial charges | 65 | €78,814 | €65,220 | -€13,594 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €139,412 | €300,890 | +€161,478 | +115.8% |
| Income taxes | 67/77 | €39,052 | €92,233 | +€53,181 | +136.2% |
| Profit (loss) for the period | 9904 | €100,360 | €208,657 | +€108,297 | +107.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,360 | €208,657 | +€108,297 | +107.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.