NGroup: 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.
NGroup
Largest movements
- Receivables within one year -€152,960
down €152,960 (-23.5%), from €651,109 to €498,149
of which Trade receivables: -€164,333
- Intangible fixed assets +€116,725
up €116,725 (+471%), from €24,795 to €141,520
- Tangible fixed assets -€80,639
down €80,639 (-7.9%), from €1.0m to €940,807
of which Other tangible fixed assets: -€83,528
- Deferred charges and accrued income +€45,037
up €45,037 (+67.9%), from €66,324 to €111,362
- Trade debts -€53,337
down €53,337 (-27.8%), from €192,026 to €138,688
- Tax, wage and social debts -€30,094
down €30,094 (-5.7%), from €523,504 to €493,410
of which Remuneration and social security: -€18,694
- Gross operating margin +€84,873
up €84,873 (+2.7%), from €3.2m to €3.3m
- Staff costs +€68,277
up €68,277 (+2.5%), from €2.8m 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.
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 | €1,878,289 | €1,792,340 | -€85,949 | -4.6% |
| Fixed assets | 21/28 | €1,051,160 | €1,087,246 | +€36,086 | +3.4% |
| Intangible fixed assets | 21 | €24,795 | €141,520 | +€116,725 | +471% |
| Tangible fixed assets | 22/27 | €1,021,446 | €940,807 | -€80,639 | -7.9% |
| Plant, machinery and equipment | 23 | €419,559 | €428,545 | +€8,986 | +2.1% |
| Furniture and vehicles | 24 | €94,834 | €88,737 | -€6,097 | -6.4% |
| Other tangible fixed assets | 26 | €507,053 | €423,525 | -€83,528 | -16.5% |
| Financial fixed assets | 28 | €4,919 | €4,919 | = | 0.0% |
| Current assets | 29/58 | €827,130 | €705,095 | -€122,035 | -14.8% |
| Amounts receivable within one year | 40/41 | €651,109 | €498,149 | -€152,960 | -23.5% |
| Trade receivables | 40 | €564,633 | €400,301 | -€164,333 | -29.1% |
| Other amounts receivable | 41 | €86,476 | €97,848 | +€11,373 | +13.2% |
| Current investments | 50/53 | €60,386 | €60,797 | +€411 | +0.7% |
| Cash at bank and in hand | 54/58 | €49,311 | €34,787 | -€14,523 | -29.5% |
| Deferred charges and accrued income | 490/1 | €66,324 | €111,362 | +€45,037 | +67.9% |
| Total equity and liabilities | 10/49 | €1,878,289 | €1,792,340 | -€85,949 | -4.6% |
| Equity | 10/15 | €560,000 | €560,000 | = | 0.0% |
| Contributions | 10/11 | €560,000 | €560,000 | = | 0.0% |
| Capital | 10 | €560,000 | €560,000 | = | 0.0% |
| Issued capital | 100 | €560,000 | €560,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,318,289 | €1,232,340 | -€85,949 | -6.5% |
| Amounts payable after more than one year | 17 | €600,000 | €600,000 | = | 0.0% |
| Financial debts | 170/4 | €600,000 | €600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €716,040 | €632,305 | -€83,735 | -11.7% |
| Trade debts | 44 | €192,026 | €138,688 | -€53,337 | -27.8% |
| Suppliers | 440/4 | €192,026 | €138,688 | -€53,337 | -27.8% |
| Taxes, remuneration and social security | 45 | €523,504 | €493,410 | -€30,094 | -5.7% |
| Taxes | 450/3 | €74,150 | €62,750 | -€11,401 | -15.4% |
| Remuneration and social security | 454/9 | €449,354 | €430,660 | -€18,694 | -4.2% |
| Other amounts payable | 47/48 | €510 | €207 | -€303 | -59.5% |
| Accrued charges and deferred income | 492/3 | €2,249 | €35 | -€2,214 | -98.4% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €2,777,098 | €2,845,375 | +€68,277 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,820 | €343,817 | +€15,997 | +4.9% |
| Other operating charges | 640/8 | €71,517 | €72,074 | +€557 | +0.8% |
| Gross operating margin | 9900 | €3,176,697 | €3,261,570 | +€84,873 | +2.7% |
| Operating profit (loss) | 9901 | €262 | €305 | +€43 | +16.3% |
| Financial income | 75/76B | €33,924 | €21,460 | -€12,464 | -36.7% |
| Recurring financial income | 75 | €33,072 | €21,460 | -€11,612 | -35.1% |
| Non-recurring financial income | 76B | €852 | - | -€852 | |
| Financial charges | 65/66B | €34,120 | €21,711 | -€12,409 | -36.4% |
| Recurring financial charges | 65 | €33,072 | €21,460 | -€11,612 | -35.1% |
| Non-recurring financial charges | 66B | €1,048 | €251 | -€797 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | €66 | €54 | -€13 | -18.9% |
| Income taxes | 67/77 | €66 | €54 | -€13 | -18.9% |
| Profit (loss) for the period | 9904 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | €0 | = |
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 18 October 2026 via checked.be.