NGX3: 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.
NGX3
Largest movements
- Cash +€85,790
up €85,790 (+20.3%), from €422,688 to €508,478
mainly Net result for the year (+€432,110) and Deferred charges and accrued income (+€67,437)
- Receivables within one year +€81,381
up €81,381 (+47.9%), from €169,847 to €251,227
of which Trade receivables: +€47,012
- Deferred charges and accrued income -€67,437
down €67,437 (-93.9%), from €71,782 to €4,345
- Intangible fixed assets -€40,489
down €40,489 (-53.8%), from €75,227 to €34,739
- Current investments -€26,855
down €26,855 (-10.8%), from €249,140 to €222,285
- Current portion of long-term debt +€29,714
new in 2025: €29,714
- Gross operating margin +€94,541
up €94,541 (+8.5%), from €1.1m to €1.2m
- Taxes +€33,264
up €33,264 (+21.4%), from €155,108 to €188,372
- Staff costs -€13,201
down €13,201 (-2.4%), from €542,977 to €529,776
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 | €1,325,208 | €1,352,492 | +€27,284 | +2.1% |
| Fixed assets | 21/28 | €111,751 | €66,157 | -€45,594 | -40.8% |
| Intangible fixed assets | 21 | €75,227 | €34,739 | -€40,489 | -53.8% |
| Tangible fixed assets | 22/27 | €36,424 | €31,318 | -€5,106 | -14.0% |
| Plant, machinery and equipment | 23 | €25,162 | €16,362 | -€8,800 | -35.0% |
| Furniture and vehicles | 24 | €11,262 | €14,956 | +€3,695 | +32.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,213,457 | €1,286,335 | +€72,878 | +6.0% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €169,847 | €251,227 | +€81,381 | +47.9% |
| Trade receivables | 40 | €160,437 | €207,449 | +€47,012 | +29.3% |
| Other amounts receivable | 41 | €9,410 | €43,778 | +€34,368 | +365.2% |
| Current investments | 50/53 | €249,140 | €222,285 | -€26,855 | -10.8% |
| Cash at bank and in hand | 54/58 | €422,688 | €508,478 | +€85,790 | +20.3% |
| Deferred charges and accrued income | 490/1 | €71,782 | €4,345 | -€67,437 | -93.9% |
| Total equity and liabilities | 10/49 | €1,325,208 | €1,352,492 | +€27,284 | +2.1% |
| Equity | 10/15 | €1,160,741 | €1,153,401 | -€7,340 | -0.6% |
| Contributions | 10/11 | €16,298 | €16,298 | = | 0.0% |
| Reserves | 13 | €1,144,443 | €1,137,103 | -€7,340 | -0.6% |
| Distributable reserves | 133 | €1,144,443 | €1,137,103 | -€7,340 | -0.6% |
| Amounts payable | 17/49 | €164,467 | €199,091 | +€34,624 | +21.1% |
| Amounts payable within one year | 42/48 | €160,687 | €195,592 | +€34,904 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | - | €29,714 | +€29,714 | |
| Trade debts | 44 | €13,168 | €3,690 | -€9,477 | -72.0% |
| Suppliers | 440/4 | €13,168 | €3,690 | -€9,477 | -72.0% |
| Taxes, remuneration and social security | 45 | €79,267 | €91,531 | +€12,264 | +15.5% |
| Taxes | 450/3 | €12,051 | €22,652 | +€10,601 | +88.0% |
| Remuneration and social security | 454/9 | €67,216 | €68,879 | +€1,664 | +2.5% |
| Other amounts payable | 47/48 | €68,253 | €70,656 | +€2,403 | +3.5% |
| Accrued charges and deferred income | 492/3 | €3,779 | €3,500 | -€280 | -7.4% |
| Remuneration, social security and pensions | 62 | €542,977 | €529,776 | -€13,201 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,504 | €58,594 | -€910 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,500 | - | -€3,500 | |
| Other operating charges | 640/8 | €1,808 | €2,716 | +€908 | +50.2% |
| Gross operating margin | 9900 | €1,107,221 | €1,201,762 | +€94,541 | +8.5% |
| Operating profit (loss) | 9901 | €499,432 | €610,676 | +€111,244 | +22.3% |
| Financial income | 75/76B | €14,159 | €21,359 | +€7,200 | +50.9% |
| Recurring financial income | 75 | €14,159 | €21,359 | +€7,200 | +50.9% |
| Financial charges | 65/66B | €8,264 | €11,553 | +€3,290 | +39.8% |
| Recurring financial charges | 65 | €8,264 | €11,553 | +€3,290 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €505,327 | €620,481 | +€115,154 | +22.8% |
| Income taxes | 67/77 | €155,108 | €188,372 | +€33,264 | +21.4% |
| Profit (loss) for the period | 9904 | €350,219 | €432,110 | +€81,890 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €350,219 | €432,110 | +€81,890 | +23.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.