Ntgrate: 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.
Ntgrate
Largest movements
- Receivables within one year +€468,126
up €468,126 (+52.4%), from €893,877 to €1.4m
of which Trade receivables: +€506,361
- Tangible fixed assets +€306,239
up €306,239 (+152.6%), from €200,643 to €506,883
of which Leasing and similar rights: +€200,614
- Cash +€176,502
up €176,502 (+268.0%), from €65,863 to €242,365
mainly Debts after one year (+€432,685) and Trade debts (+€309,360)
- Debts after one year +€432,685
up €432,685 (+3354.8%), from €12,897 to €445,583
- Trade debts +€309,360
up €309,360 (+21.5%), from €1.4m to €1.7m
- Profit (loss) carried forward +€84,214
up €84,214 (+1.7%), from -€5.0m to -€4.9m
- Current portion of long-term debt +€39,499
up €39,499 (+220.8%), from €17,890 to €57,390
- Gross operating margin +€373,385
up €373,385 (+21.7%), from €1.7m to €2.1m
- Staff costs +€267,283
up €267,283 (+17.0%), from €1.6m to €1.8m
- Depreciation -€38,132
down €38,132 (-26.1%), from €146,030 to €107,898
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 | €2,833,507 | €3,729,395 | +€895,888 | +31.6% |
| Fixed assets | 21/28 | €208,475 | €510,817 | +€302,342 | +145.0% |
| Intangible fixed assets | 21 | €7,794 | €3,897 | -€3,897 | -50.0% |
| Tangible fixed assets | 22/27 | €200,643 | €506,883 | +€306,239 | +152.6% |
| Plant, machinery and equipment | 23 | €40,576 | €148,280 | +€107,704 | +265.4% |
| Furniture and vehicles | 24 | €121,613 | €124,630 | +€3,017 | +2.5% |
| Leasing and similar rights | 25 | €25,572 | €226,186 | +€200,614 | +784.5% |
| Other tangible fixed assets | 26 | €12,883 | €7,787 | -€5,096 | -39.6% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €2,625,032 | €3,218,578 | +€593,545 | +22.6% |
| Stocks and contracts in progress | 3 | €1,067,977 | €1,051,941 | -€16,036 | -1.5% |
| Stocks | 30/36 | €1,067,977 | €1,051,941 | -€16,036 | -1.5% |
| Amounts receivable within one year | 40/41 | €893,877 | €1,362,003 | +€468,126 | +52.4% |
| Trade receivables | 40 | €805,040 | €1,311,401 | +€506,361 | +62.9% |
| Other amounts receivable | 41 | €88,837 | €50,602 | -€38,235 | -43.0% |
| Cash at bank and in hand | 54/58 | €65,863 | €242,365 | +€176,502 | +268.0% |
| Deferred charges and accrued income | 490/1 | €597,315 | €562,268 | -€35,047 | -5.9% |
| Total equity and liabilities | 10/49 | €2,833,507 | €3,729,395 | +€895,888 | +31.6% |
| Equity | 10/15 | €411,794 | €496,008 | +€84,214 | +20.5% |
| Contributions | 10/11 | €5,418,600 | €5,418,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,008,666 | -€4,924,452 | +€84,214 | +1.7% |
| Amounts payable | 17/49 | €2,421,714 | €3,233,387 | +€811,673 | +33.5% |
| Amounts payable after more than one year | 17 | €12,897 | €445,583 | +€432,685 | +3354.8% |
| Financial debts | 170/4 | €12,897 | €445,583 | +€432,685 | +3354.8% |
| Amounts payable within one year | 42/48 | €2,157,088 | €2,532,762 | +€375,674 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €17,890 | €57,390 | +€39,499 | +220.8% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €1,439,767 | €1,749,127 | +€309,360 | +21.5% |
| Suppliers | 440/4 | €1,439,767 | €1,749,127 | +€309,360 | +21.5% |
| Taxes, remuneration and social security | 45 | €152,631 | €179,446 | +€26,815 | +17.6% |
| Taxes | 450/3 | €1,060 | €339 | -€721 | -68.0% |
| Remuneration and social security | 454/9 | €151,571 | €179,107 | +€27,536 | +18.2% |
| Other amounts payable | 47/48 | €46,800 | €46,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €251,728 | €255,042 | +€3,313 | +1.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,573,210 | €1,840,493 | +€267,283 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,030 | €107,898 | -€38,132 | -26.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€6,731 | -€6,731 | |
| Other operating charges | 640/8 | €10,699 | €12,064 | +€1,365 | +12.8% |
| Gross operating margin | 9900 | €1,718,794 | €2,092,179 | +€373,385 | +21.7% |
| Operating profit (loss) | 9901 | -€11,146 | €138,454 | +€149,600 | |
| Financial income | 75/76B | €3,301 | €5,349 | +€2,047 | +62.0% |
| Recurring financial income | 75 | €3,301 | €5,349 | +€2,047 | +62.0% |
| Financial charges | 65/66B | €55,219 | €57,643 | +€2,425 | +4.4% |
| Recurring financial charges | 65 | €55,219 | €57,643 | +€2,425 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€63,063 | €86,160 | +€149,223 | |
| Income taxes | 67/77 | €2,344 | €1,945 | -€399 | -17.0% |
| Profit (loss) for the period | 9904 | -€65,407 | €84,214 | +€149,621 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,407 | €84,214 | +€149,621 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.