NGG: 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.
What changed
NGG
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€258,661
2024 · -€7.4m+€7.2m
Equity
-€17.2m
2024 · -€17.0m-€258,661
Cash
€4.4m
2024 · €6.0m-€1.6m
Balance sheet total
€165.7m
2024 · €136.3m+€29.4m
Largest movements
Assets
- Receivables after one year +€25.1m
new in 2025: €25.1m
- Receivables within one year +€6.2m
up €6.2m (+20.2%), from €30.5m to €36.7m
of which Other amounts receivable: +€7.9m
Equity and liabilities
- Other debts +€31.9m
up €31.9m (+21.8%), from €146.5m to €178.4m
Income statement
- Other operating income -€4.7m
down €4.7m (-34.7%), from €13.6m to €8.8m
- Staff costs -€3.9m
down €3.9m (-63.0%), from €6.1m to €2.3m
- Financial charges -€2.5m
down €2.5m (-45.8%), from €5.5m to €3.0m
of which Financial charges: -€2.6m
- Other operating charges -€2.0m
down €2.0m (-41.7%), from €4.8m to €2.8m
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.
Result 2024
-€7.4m
Staff costs
+€3.9m
Depreciation
+€127,270
Provisions
-€160,600
Other operating charges
+€2.0m
Other operating items
-€1.2m
Financial income
+€34,463
Financial charges
+€2.5m
Taxes
-€929
Result 2025
-€258,661
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.5m
Investment
-€153,385
Financing
€0
Cash 2024
€6.0m
From operations (derived)
-€1.5m
Net result for the year
-€258,661
Depreciation
+€436,925
Receivables after one year
-€25.1m
Receivables within one year
-€6.2m
Deferred charges and accrued income
-€21,617
Provisions
+€160,600
Trade debts
-€1.4m
Tax, wage and social debts
-€1.0m
Other debts
+€31.9m
Investment (derived)
-€153,385
Investment in fixed assets (net)
-€153,385
Cash 2025
€4.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,303,955 | €165,674,385 | +€29.4m | +21.5% |
| Fixed assets | 21/28 | €99,627,973 | €99,344,433 | -€283,540 | -0.3% |
| Intangible fixed assets | 21 | €448,698 | €270,379 | -€178,319 | -39.7% |
| Tangible fixed assets | 22/27 | €709,144 | €720,028 | +€10,884 | +1.5% |
| Plant, machinery and equipment | 23 | €40,146 | €159,716 | +€119,570 | +298% |
| Furniture and vehicles | 24 | €236,763 | €138,553 | -€98,210 | -41.5% |
| Other tangible fixed assets | 26 | €432,236 | €421,760 | -€10,476 | -2.4% |
| Financial fixed assets | 28 | €98,470,131 | €98,354,025 | -€116,105 | -0.1% |
| Affiliated companies | 280/1 | €98,286,516 | €98,170,410 | -€116,105 | -0.1% |
| Participating interests | 280 | €98,286,516 | €98,170,410 | -€116,105 | -0.1% |
| Other financial fixed assets | 284/8 | €183,615 | €183,615 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €183,615 | €183,615 | = | 0.0% |
| Current assets | 29/58 | €36,675,982 | €66,329,952 | +€29.7m | +80.9% |
| Amounts receivable after more than one year | 29 | - | €25,072,910 | +€25.1m | |
| Other amounts receivable | 291 | - | €25,072,910 | +€25.1m | |
| Amounts receivable within one year | 40/41 | €30,531,986 | €36,706,347 | +€6.2m | +20.2% |
| Trade receivables | 40 | €4,227,043 | €2,511,768 | -€1.7m | -40.6% |
| Other amounts receivable | 41 | €26,304,943 | €34,194,579 | +€7.9m | +30.0% |
| Cash at bank and in hand | 54/58 | €6,034,977 | €4,420,058 | -€1.6m | -26.8% |
| Deferred charges and accrued income | 490/1 | €109,019 | €130,637 | +€21,617 | +19.8% |
| Total equity and liabilities | 10/49 | €136,303,955 | €165,674,385 | +€29.4m | +21.5% |
| Equity | 10/15 | -€16,971,389 | -€17,230,050 | -€258,661 | -1.5% |
| Contributions | 10/11 | €17,223,851 | €17,223,851 | = | 0.0% |
| Capital | 10 | €17,223,851 | €17,223,851 | = | 0.0% |
| Issued capital | 100 | €17,223,851 | €17,223,851 | = | 0.0% |
| Reserves | 13 | €21,884,823 | €21,884,823 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,884,823 | €21,884,823 | = | 0.0% |
| Other | 1319 | €21,884,823 | €21,884,823 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,080,063 | -€56,338,724 | -€258,661 | -0.5% |
| Provisions and deferred taxes | 16 | - | €160,600 | +€160,600 | |
| Provisions for liabilities and charges | 160/5 | - | €160,600 | +€160,600 | |
| Other liabilities and charges | 164/5 | - | €160,600 | +€160,600 | |
| Amounts payable | 17/49 | €153,275,344 | €182,743,835 | +€29.5m | +19.2% |
| Amounts payable within one year | 42/48 | €153,275,344 | €182,743,835 | +€29.5m | +19.2% |
| Trade debts | 44 | €2,406,187 | €1,002,998 | -€1.4m | -58.3% |
| Suppliers | 440/4 | €2,406,187 | €1,002,998 | -€1.4m | -58.3% |
| Taxes, remuneration and social security | 45 | €4,380,428 | €3,366,764 | -€1.0m | -23.1% |
| Taxes | 450/3 | €737,419 | €522,832 | -€214,587 | -29.1% |
| Remuneration and social security | 454/9 | €3,643,009 | €2,843,932 | -€799,077 | -21.9% |
| Other amounts payable | 47/48 | €146,488,729 | €178,374,073 | +€31.9m | +21.8% |
| Operating income | 70/76A | €14,006,319 | €10,109,433 | -€3.9m | -27.8% |
| Other operating income | 74 | €13,558,888 | €8,848,925 | -€4.7m | -34.7% |
| Non-recurring operating income | 76A | €447,431 | €1,260,508 | +€813,077 | +182% |
| Operating charges | 60/66A | €16,527,371 | €8,035,869 | -€8.5m | -51.4% |
| Services and other goods | 61 | €3,280,236 | €2,396,336 | -€883,900 | -26.9% |
| Remuneration, social security and pensions | 62 | €6,128,097 | €2,265,802 | -€3.9m | -63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564,194 | €436,925 | -€127,270 | -22.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €160,600 | +€160,600 | |
| Other operating charges | 640/8 | €4,754,339 | €2,773,414 | -€2.0m | -41.7% |
| Non-recurring operating charges | 66A | €1,800,505 | €2,793 | -€1.8m | -99.8% |
| Operating profit (loss) | 9901 | -€2,521,052 | €2,073,563 | +€4.6m | |
| Financial income | 75/76B | €627,816 | €662,279 | +€34,463 | +5.5% |
| Recurring financial income | 75 | €627,816 | €662,279 | +€34,463 | +5.5% |
| Income from current assets | 751 | €627,714 | €659,568 | +€31,854 | +5.1% |
| Other financial income | 752/9 | €101 | €2,711 | +€2,610 | +2,573% |
| Financial charges | 65/66B | €5,511,694 | €2,987,896 | -€2.5m | -45.8% |
| Recurring financial charges | 65 | €5,448,133 | €2,859,761 | -€2.6m | -47.5% |
| Debt charges | 650 | €5,183,287 | €2,616,500 | -€2.6m | -49.5% |
| Other financial charges | 652/9 | €264,846 | €243,261 | -€21,585 | -8.2% |
| Non-recurring financial charges | 66B | €63,560 | €128,135 | +€64,575 | +102% |
| Profit (loss) for the period before taxes | 9903 | -€7,404,930 | -€252,055 | +€7.2m | +96.6% |
| Income taxes | 67/77 | €5,677 | €6,606 | +€929 | +16.4% |
| Taxes | 670/3 | €5,677 | €6,606 | +€929 | +16.4% |
| Profit (loss) for the period | 9904 | -€7,410,607 | -€258,661 | +€7.2m | +96.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,410,607 | -€258,661 | +€7.2m | +96.5% |
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 16 October 2026 via checked.be.