Ninclaus Construct: 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.
Ninclaus Construct
Largest movements
- Receivables within one year +€93,327
up €93,327 (+437.5%), from €21,333 to €114,660
of which Trade receivables: +€68,933
- Tangible fixed assets -€44,921
down €44,921 (-23.2%), from €193,229 to €148,308
of which Furniture and vehicles: -€41,998
- Cash -€16,243
down €16,243 (-33.7%), from €48,267 to €32,024
mainly Receivables within one year (-€93,327) and Debts after one year (-€23,388)
- Reserves +€38,335
up €38,335 (+31.6%), from €121,201 to €159,536
- Debts after one year -€23,388
down €23,388 (-37.2%), from €62,942 to €39,554
- Trade debts +€20,481
up €20,481 (+152.2%), from €13,452 to €33,933
- Tax, wage and social debts -€3,861
down €3,861 (-28.1%), from €13,757 to €9,896
of which Taxes: -€2,201
- Depreciation +€8,603
up €8,603 (+19.6%), from €43,921 to €52,524
- Financial charges +€4,464
up €4,464 (+323.3%), from €1,381 to €5,845
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €265,470 | €298,069 | +€32,600 | +12.3% |
| Fixed assets | 21/28 | €193,229 | €148,308 | -€44,921 | -23.2% |
| Tangible fixed assets | 22/27 | €193,229 | €148,308 | -€44,921 | -23.2% |
| Land and buildings | 22 | €32,850 | €31,085 | -€1,765 | -5.4% |
| Plant, machinery and equipment | 23 | €10,404 | €9,246 | -€1,158 | -11.1% |
| Furniture and vehicles | 24 | €149,975 | €107,976 | -€41,998 | -28.0% |
| Current assets | 29/58 | €72,241 | €149,761 | +€77,521 | +107.3% |
| Amounts receivable within one year | 40/41 | €21,333 | €114,660 | +€93,327 | +437.5% |
| Trade receivables | 40 | €14,975 | €83,908 | +€68,933 | +460.3% |
| Other amounts receivable | 41 | €6,358 | €30,752 | +€24,394 | +383.7% |
| Cash at bank and in hand | 54/58 | €48,267 | €32,024 | -€16,243 | -33.7% |
| Deferred charges and accrued income | 490/1 | €2,640 | €3,077 | +€436 | +16.5% |
| Total equity and liabilities | 10/49 | €265,470 | €298,069 | +€32,600 | +12.3% |
| Equity | 10/15 | €136,201 | €174,536 | +€38,335 | +28.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €121,201 | €159,536 | +€38,335 | +31.6% |
| Distributable reserves | 133 | €121,201 | €159,536 | +€38,335 | +31.6% |
| Amounts payable | 17/49 | €129,269 | €123,534 | -€5,735 | -4.4% |
| Amounts payable after more than one year | 17 | €62,942 | €39,554 | -€23,388 | -37.2% |
| Financial debts | 170/4 | €62,942 | €39,554 | -€23,388 | -37.2% |
| Amounts payable within one year | 42/48 | €66,327 | €83,980 | +€17,653 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €23,134 | €23,388 | +€254 | +1.1% |
| Trade debts | 44 | €13,452 | €33,933 | +€20,481 | +152.2% |
| Suppliers | 440/4 | €13,452 | €33,933 | +€20,481 | +152.2% |
| Taxes, remuneration and social security | 45 | €13,757 | €9,896 | -€3,861 | -28.1% |
| Taxes | 450/3 | €12,097 | €9,896 | -€2,201 | -18.2% |
| Remuneration and social security | 454/9 | €1,660 | - | -€1,660 | |
| Other amounts payable | 47/48 | €15,984 | €16,763 | +€779 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,921 | €52,524 | +€8,603 | +19.6% |
| Other operating charges | 640/8 | €499 | €387 | -€112 | -22.4% |
| Gross operating margin | 9900 | €106,458 | €106,038 | -€420 | -0.4% |
| Operating profit (loss) | 9901 | €62,038 | €53,127 | -€8,911 | -14.4% |
| Financial charges | 65/66B | €1,381 | €5,845 | +€4,464 | +323.3% |
| Recurring financial charges | 65 | €1,381 | €5,845 | +€4,464 | +323.3% |
| Profit (loss) for the period before taxes | 9903 | €60,657 | €47,282 | -€13,375 | -22.1% |
| Income taxes | 67/77 | €9,850 | €8,947 | -€902 | -9.2% |
| Profit (loss) for the period | 9904 | €50,808 | €38,335 | -€12,473 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,808 | €38,335 | -€12,473 | -24.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.