NGV PROJECTS: 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.
NGV PROJECTS
Largest movements
- Cash +€69,952
up €69,952 (+117.6%), from €59,483 to €129,435
mainly Net result for the year (+€67,956) and Tax, wage and social debts (+€4,057)
- Reserves +€68,000
up €68,000 (+117.2%), from €58,000 to €126,000
- Tax, wage and social debts +€4,057
up €4,057 (+19.8%), from €20,456 to €24,514
- Trade debts -€2,655
down €2,655 (-65.6%), from €4,046 to €1,391
- Gross operating margin +€19,145
up €19,145 (+28.1%), from €68,035 to €87,179
- Taxes +€3,652
up €3,652 (+26.0%), from €14,036 to €17,687
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 | €84,380 | €153,745 | +€69,365 | +82.2% |
| Fixed assets | 21/28 | €3,680 | €2,934 | -€746 | -20.3% |
| Tangible fixed assets | 22/27 | €3,680 | €2,934 | -€746 | -20.3% |
| Plant, machinery and equipment | 23 | €741 | €583 | -€158 | -21.3% |
| Furniture and vehicles | 24 | €2,939 | €2,351 | -€588 | -20.0% |
| Current assets | 29/58 | €80,700 | €150,811 | +€70,111 | +86.9% |
| Amounts receivable within one year | 40/41 | €16,940 | €16,940 | = | 0.0% |
| Trade receivables | 40 | €16,940 | €16,940 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,483 | €129,435 | +€69,952 | +117.6% |
| Deferred charges and accrued income | 490/1 | €4,277 | €4,436 | +€159 | +3.7% |
| Total equity and liabilities | 10/49 | €84,380 | €153,745 | +€69,365 | +82.2% |
| Equity | 10/15 | €59,877 | €127,833 | +€67,956 | +113.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €58,000 | €126,000 | +€68,000 | +117.2% |
| Distributable reserves | 133 | €58,000 | €126,000 | +€68,000 | +117.2% |
| Profit (loss) carried forward | 14 | €877 | €833 | -€44 | -5.0% |
| Amounts payable | 17/49 | €24,502 | €25,911 | +€1,409 | +5.8% |
| Amounts payable within one year | 42/48 | €24,502 | €25,911 | +€1,409 | +5.8% |
| Trade debts | 44 | €4,046 | €1,391 | -€2,655 | -65.6% |
| Suppliers | 440/4 | €4,046 | €1,391 | -€2,655 | -65.6% |
| Taxes, remuneration and social security | 45 | €20,456 | €24,514 | +€4,057 | +19.8% |
| Taxes | 450/3 | €20,456 | €24,514 | +€4,057 | +19.8% |
| Other amounts payable | 47/48 | - | €7 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52 | €746 | +€695 | +1344.9% |
| Other operating charges | 640/8 | €780 | €431 | -€349 | -44.7% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €68,035 | €87,179 | +€19,145 | +28.1% |
| Operating profit (loss) | 9901 | €67,203 | €85,949 | +€18,746 | +27.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €387 | €305 | -€81 | -21.0% |
| Recurring financial charges | 65 | €387 | €305 | -€81 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €66,816 | €85,643 | +€18,828 | +28.2% |
| Income taxes | 67/77 | €14,036 | €17,687 | +€3,652 | +26.0% |
| Profit (loss) for the period | 9904 | €52,780 | €67,956 | +€15,176 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,780 | €67,956 | +€15,176 | +28.8% |
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 28 September 2026 via checked.be.