NTECS: 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.
NTECS
Largest movements
- Cash +€70,792
up €70,792 (+133.8%), from €52,898 to €123,690
mainly Net result for the year (+€83,514) and Depreciation (+€10,779)
- Receivables within one year +€9,182
up €9,182 (+38.7%), from €23,740 to €32,922
of which Trade receivables: +€11,432
- Tangible fixed assets +€4,252
up €4,252 (+34.2%), from €12,451 to €16,703
of which Land and buildings: +€11,385
- Reserves +€83,514
up €83,514 (+115.0%), from €72,607 to €156,121
- Tax, wage and social debts +€2,514
up €2,514 (+19.8%), from €12,688 to €15,203
- Gross operating margin +€69,914
up €69,914 (+137.0%), from €51,036 to €120,951
- Taxes +€14,046
up €14,046 (+130.8%), from €10,740 to €24,786
- Depreciation +€2,585
up €2,585 (+31.5%), from €8,194 to €10,779
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 | €92,666 | €176,464 | +€83,798 | +90.4% |
| Fixed assets | 21/28 | €12,761 | €17,013 | +€4,252 | +33.3% |
| Tangible fixed assets | 22/27 | €12,451 | €16,703 | +€4,252 | +34.2% |
| Land and buildings | 22 | - | €11,385 | +€11,385 | |
| Plant, machinery and equipment | 23 | €2,872 | €2,066 | -€806 | -28.1% |
| Furniture and vehicles | 24 | €7,449 | €1,639 | -€5,810 | -78.0% |
| Other tangible fixed assets | 26 | €2,129 | €1,613 | -€516 | -24.2% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €79,906 | €159,452 | +€79,546 | +99.5% |
| Amounts receivable within one year | 40/41 | €23,740 | €32,922 | +€9,182 | +38.7% |
| Trade receivables | 40 | €19,196 | €30,629 | +€11,432 | +59.6% |
| Other amounts receivable | 41 | €4,544 | €2,293 | -€2,251 | -49.5% |
| Cash at bank and in hand | 54/58 | €52,898 | €123,690 | +€70,792 | +133.8% |
| Deferred charges and accrued income | 490/1 | €3,268 | €2,840 | -€428 | -13.1% |
| Total equity and liabilities | 10/49 | €92,666 | €176,464 | +€83,798 | +90.4% |
| Equity | 10/15 | €76,807 | €160,321 | +€83,514 | +108.7% |
| Contributions | 10/11 | €4,200 | €4,200 | = | 0.0% |
| Reserves | 13 | €72,607 | €156,121 | +€83,514 | +115.0% |
| Distributable reserves | 133 | €72,607 | €156,121 | +€83,514 | +115.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,859 | €16,143 | +€284 | +1.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €15,859 | €16,143 | +€284 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,721 | €469 | -€1,252 | -72.8% |
| Suppliers | 440/4 | €1,721 | €469 | -€1,252 | -72.8% |
| Taxes, remuneration and social security | 45 | €12,688 | €15,203 | +€2,514 | +19.8% |
| Taxes | 450/3 | €12,688 | €15,203 | +€2,514 | +19.8% |
| Other amounts payable | 47/48 | €1,450 | €472 | -€978 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,194 | €10,779 | +€2,585 | +31.5% |
| Other operating charges | 640/8 | €1,587 | €1,999 | +€412 | +25.9% |
| Gross operating margin | 9900 | €51,036 | €120,951 | +€69,914 | +137.0% |
| Operating profit (loss) | 9901 | €41,255 | €108,173 | +€66,917 | +162.2% |
| Financial income | 75/76B | €37 | €277 | +€239 | +639.8% |
| Recurring financial income | 75 | €37 | €277 | +€239 | +639.8% |
| Financial charges | 65/66B | €354 | €150 | -€204 | -57.7% |
| Recurring financial charges | 65 | €354 | €150 | -€204 | -57.7% |
| Profit (loss) for the period before taxes | 9903 | €40,939 | €108,300 | +€67,361 | +164.5% |
| Income taxes | 67/77 | €10,740 | €24,786 | +€14,046 | +130.8% |
| Profit (loss) for the period | 9904 | €30,198 | €83,514 | +€53,315 | +176.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,198 | €83,514 | +€53,315 | +176.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.