NTL TEAM: 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.
NTL TEAM
Largest movements
- Stocks and contracts +€29,108
up €29,108 (+11.2%), from €259,122 to €288,230
- Tangible fixed assets -€21,501
down €21,501 (-18.6%), from €115,310 to €93,809
of which Land and buildings: -€18,775
- Receivables within one year -€18,077
down €18,077 (-36.3%), from €49,852 to €31,775
of which Trade receivables: -€10,301
- Cash +€9,128
up €9,128 (+69.3%), from €13,180 to €22,307
mainly Net result for the year (+€58,376) and Depreciation (+€21,712)
- Profit (loss) carried forward +€58,376
up €58,376, from -€11,528 to €46,848
- Trade debts -€50,256
down €50,256 (-21.9%), from €229,227 to €178,971
- Current portion of long-term debt -€30,385
down €30,385 (-87.7%), from €34,660 to €4,274
- Tax, wage and social debts +€19,498
up €19,498 (+46.9%), from €41,608 to €61,106
of which Taxes: +€27,458
- Gross operating margin +€93,956
up €93,956 (+116.7%), from €80,494 to €174,450
- Taxes +€10,684
up €10,684 (+2667.1%), from €401 to €11,085
- Staff costs -€5,900
down €5,900 (-7.2%), from €82,025 to €76,125
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 | €452,874 | €451,364 | -€1,510 | -0.3% |
| Formation expenses | 20 | €210 | €0 | -€210 | -100.0% |
| Fixed assets | 21/28 | €130,510 | €109,009 | -€21,501 | -16.5% |
| Tangible fixed assets | 22/27 | €115,310 | €93,809 | -€21,501 | -18.6% |
| Land and buildings | 22 | €112,216 | €93,442 | -€18,775 | -16.7% |
| Furniture and vehicles | 24 | €1,496 | €166 | -€1,330 | -88.9% |
| Leasing and similar rights | 25 | €1,598 | €201 | -€1,397 | -87.4% |
| Financial fixed assets | 28 | €15,200 | €15,200 | = | 0.0% |
| Current assets | 29/58 | €322,153 | €342,355 | +€20,202 | +6.3% |
| Stocks and contracts in progress | 3 | €259,122 | €288,230 | +€29,108 | +11.2% |
| Stocks | 30/36 | €259,122 | €288,230 | +€29,108 | +11.2% |
| Amounts receivable within one year | 40/41 | €49,852 | €31,775 | -€18,077 | -36.3% |
| Trade receivables | 40 | €30,068 | €19,767 | -€10,301 | -34.3% |
| Other amounts receivable | 41 | €19,784 | €12,008 | -€7,776 | -39.3% |
| Cash at bank and in hand | 54/58 | €13,180 | €22,307 | +€9,128 | +69.3% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €452,874 | €451,364 | -€1,510 | -0.3% |
| Equity | 10/15 | €141,199 | €199,576 | +€58,376 | +41.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €112,728 | €112,728 | = | 0.0% |
| Distributable reserves | 133 | €112,728 | €112,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,528 | €46,848 | +€58,376 | |
| Amounts payable | 17/49 | €311,674 | €251,788 | -€59,886 | -19.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €310,004 | €250,271 | -€59,733 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €34,660 | €4,274 | -€30,385 | -87.7% |
| Trade debts | 44 | €229,227 | €178,971 | -€50,256 | -21.9% |
| Suppliers | 440/4 | €229,227 | €178,971 | -€50,256 | -21.9% |
| Taxes, remuneration and social security | 45 | €41,608 | €61,106 | +€19,498 | +46.9% |
| Taxes | 450/3 | €15,634 | €43,092 | +€27,458 | +175.6% |
| Remuneration and social security | 454/9 | €25,974 | €18,014 | -€7,960 | -30.6% |
| Other amounts payable | 47/48 | €4,510 | €5,919 | +€1,410 | +31.3% |
| Accrued charges and deferred income | 492/3 | €1,671 | €1,518 | -€153 | -9.1% |
| Remuneration, social security and pensions | 62 | €82,025 | €76,125 | -€5,900 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,804 | €21,712 | -€92 | -0.4% |
| Other operating charges | 640/8 | €4,624 | €5,833 | +€1,209 | +26.1% |
| Gross operating margin | 9900 | €80,494 | €174,450 | +€93,956 | +116.7% |
| Operating profit (loss) | 9901 | -€27,959 | €70,780 | +€98,739 | |
| Financial income | 75/76B | €542 | €199 | -€343 | -63.3% |
| Recurring financial income | 75 | €542 | €199 | -€343 | -63.3% |
| Financial charges | 65/66B | €831 | €1,518 | +€687 | +82.6% |
| Recurring financial charges | 65 | €831 | €1,518 | +€687 | +82.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,248 | €69,461 | +€97,709 | |
| Income taxes | 67/77 | €401 | €11,085 | +€10,684 | +2667.1% |
| Profit (loss) for the period | 9904 | -€28,649 | €58,376 | +€87,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,649 | €58,376 | +€87,025 |
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 11 October 2026 via checked.be.