NGNR Works: 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.
NGNR Works
Largest movements
- Cash +€219,893
up €219,893 (+541%), from €40,657 to €260,550
mainly Current investments (+€150,000) and Other debts (+€47,688)
- Current investments -€150,000
down €150,000 (-90.9%), from €165,000 to €15,000
- Tangible fixed assets -€8,085
down €8,085 (-18.3%), from €44,101 to €36,015
of which Plant, machinery and equipment: -€9,342
- Receivables within one year -€7,303
down €7,303 (-47.1%), from €15,495 to €8,192
of which Trade receivables: -€13,076
- Other debts +€47,688
up €47,688 (+67.3%), from €70,841 to €118,529
- Reserves +€31,746
up €31,746 (+22.7%), from €140,089 to €171,834
- Tax, wage and social debts -€23,365
down €23,365 (-49.5%), from €47,222 to €23,857
of which Taxes: -€23,365
- Gross operating margin +€17,362
up €17,362 (+47.7%), from €36,406 to €53,768
- Taxes +€5,570
up €5,570 (+52.0%), from €10,716 to €16,286
- Depreciation +€5,411
up €5,411 (+114%), from €4,733 to €10,144
- Financial income +€4,786
new in 2025: €4,786
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 | €265,253 | €320,037 | +€54,784 | +20.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €44,101 | €36,015 | -€8,085 | -18.3% |
| Tangible fixed assets | 22/27 | €44,101 | €36,015 | -€8,085 | -18.3% |
| Plant, machinery and equipment | 23 | €43,148 | €33,807 | -€9,342 | -21.6% |
| Furniture and vehicles | 24 | €953 | €2,209 | +€1,256 | +132% |
| Current assets | 29/58 | €221,153 | €284,022 | +€62,869 | +28.4% |
| Amounts receivable within one year | 40/41 | €15,495 | €8,192 | -€7,303 | -47.1% |
| Trade receivables | 40 | €13,076 | - | -€13,076 | |
| Other amounts receivable | 41 | €2,419 | €8,192 | +€5,773 | +239% |
| Current investments | 50/53 | €165,000 | €15,000 | -€150,000 | -90.9% |
| Cash at bank and in hand | 54/58 | €40,657 | €260,550 | +€219,893 | +541% |
| Deferred charges and accrued income | 490/1 | - | €280 | +€280 | |
| Total equity and liabilities | 10/49 | €265,253 | €320,037 | +€54,784 | +20.7% |
| Equity | 10/15 | €143,089 | €174,834 | +€31,746 | +22.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €140,089 | €171,834 | +€31,746 | +22.7% |
| Distributable reserves | 133 | €140,089 | €171,834 | +€31,746 | +22.7% |
| Amounts payable | 17/49 | €122,165 | €145,203 | +€23,038 | +18.9% |
| Amounts payable within one year | 42/48 | €122,165 | €145,203 | +€23,038 | +18.9% |
| Trade debts | 44 | €4,102 | €2,817 | -€1,285 | -31.3% |
| Suppliers | 440/4 | €4,102 | €2,817 | -€1,285 | -31.3% |
| Taxes, remuneration and social security | 45 | €47,222 | €23,857 | -€23,365 | -49.5% |
| Taxes | 450/3 | €34,084 | €10,719 | -€23,365 | -68.6% |
| Remuneration and social security | 454/9 | €13,138 | €13,138 | = | 0.0% |
| Other amounts payable | 47/48 | €70,841 | €118,529 | +€47,688 | +67.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,733 | €10,144 | +€5,411 | +114% |
| Other operating charges | 640/8 | €62 | €128 | +€66 | +107% |
| Gross operating margin | 9900 | €36,406 | €53,768 | +€17,362 | +47.7% |
| Operating profit (loss) | 9901 | €31,611 | €43,496 | +€11,885 | +37.6% |
| Financial income | 75/76B | - | €4,786 | +€4,786 | |
| Recurring financial income | 75 | - | €4,786 | +€4,786 | |
| Financial charges | 65/66B | €66 | €251 | +€185 | +280% |
| Recurring financial charges | 65 | €66 | €251 | +€185 | +280% |
| Profit (loss) for the period before taxes | 9903 | €31,545 | €48,031 | +€16,486 | +52.3% |
| Income taxes | 67/77 | €10,716 | €16,286 | +€5,570 | +52.0% |
| Profit (loss) for the period | 9904 | €20,830 | €31,746 | +€10,916 | +52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,830 | €31,746 | +€10,916 | +52.4% |
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 29 October 2026 via checked.be.