NRC: what changed
NRC
Largest movements
- Receivables within one year +€20,072
up €20,072 (+64.8%), from €30,963 to €51,035
of which Other amounts receivable: +€20,916
- Tangible fixed assets -€11,135
down €11,135 (-12.8%), from €87,260 to €76,124
of which Land and buildings: -€5,853
- Reserves +€13,536
up €13,536 (+9.8%), from €137,869 to €151,405
of which Distributable reserves: +€13,536
- Tax, wage and social debts -€5,676
down €5,676 (-35.2%), from €16,108 to €10,433
- Gross operating margin -€16,705
down €16,705 (-27.3%), from €61,280 to €44,575
- Depreciation -€4,369
down €4,369 (-26.9%), from €16,244 to €11,875
- Taxes -€4,213
down €4,213 (-37.9%), from €11,125 to €6,912
- Other operating charges +€1,337
up €1,337 (+427%), from €313 to €1,651
- Financial charges +€1,031
up €1,031 (+48.4%), from €2,128 to €3,159
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,103 | €163,599 | +€8,496 | +5.5% |
| Fixed assets | 21/28 | €87,260 | €76,124 | -€11,135 | -12.8% |
| Tangible fixed assets | 22/27 | €87,260 | €76,124 | -€11,135 | -12.8% |
| Land and buildings | 22 | €59,457 | €53,604 | -€5,853 | -9.8% |
| Plant, machinery and equipment | 23 | €5,962 | €4,641 | -€1,321 | -22.2% |
| Furniture and vehicles | 24 | €11,512 | €8,909 | -€2,603 | -22.6% |
| Other tangible fixed assets | 26 | €10,329 | €8,970 | -€1,359 | -13.2% |
| Current assets | 29/58 | €67,843 | €87,474 | +€19,632 | +28.9% |
| Amounts receivable within one year | 40/41 | €30,963 | €51,035 | +€20,072 | +64.8% |
| Trade receivables | 40 | €844 | €0 | -€844 | -100% |
| Other amounts receivable | 41 | €30,119 | €51,035 | +€20,916 | +69.4% |
| Cash at bank and in hand | 54/58 | €36,311 | €35,217 | -€1,094 | -3.0% |
| Deferred charges and accrued income | 490/1 | €569 | €1,222 | +€653 | +115% |
| Total equity and liabilities | 10/49 | €155,103 | €163,599 | +€8,496 | +5.5% |
| Equity | 10/15 | €138,369 | €151,905 | +€13,536 | +9.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €137,869 | €151,405 | +€13,536 | +9.8% |
| Tax-exempt reserves | 132 | €163 | €163 | = | 0.0% |
| Distributable reserves | 133 | €137,707 | €151,242 | +€13,536 | +9.8% |
| Amounts payable | 17/49 | €16,733 | €11,694 | -€5,039 | -30.1% |
| Amounts payable within one year | 42/48 | €16,733 | €11,694 | -€5,039 | -30.1% |
| Trade debts | 44 | €625 | €1,261 | +€636 | +102% |
| Suppliers | 440/4 | €625 | €1,261 | +€636 | +102% |
| Taxes, remuneration and social security | 45 | €16,108 | €10,433 | -€5,676 | -35.2% |
| Taxes | 450/3 | €16,108 | €10,433 | -€5,676 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,244 | €11,875 | -€4,369 | -26.9% |
| Other operating charges | 640/8 | €313 | €1,651 | +€1,337 | +427% |
| Non-recurring operating charges | 66A | €2,677 | €7,445 | +€4,768 | +178% |
| Gross operating margin | 9900 | €61,280 | €44,575 | -€16,705 | -27.3% |
| Operating profit (loss) | 9901 | €42,046 | €23,604 | -€18,442 | -43.9% |
| Financial income | 75/76B | €85 | €3 | -€82 | -96.5% |
| Recurring financial income | 75 | €85 | €3 | -€82 | -96.5% |
| Financial charges | 65/66B | €2,128 | €3,159 | +€1,031 | +48.4% |
| Recurring financial charges | 65 | €2,128 | €3,159 | +€1,031 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | €40,003 | €20,448 | -€19,555 | -48.9% |
| Income taxes | 67/77 | €11,125 | €6,912 | -€4,213 | -37.9% |
| Profit (loss) for the period | 9904 | €28,878 | €13,536 | -€15,342 | -53.1% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €28,878 | €13,536 | -€15,342 | -53.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.