NTMC: 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.
NTMC
Largest movements
- Tangible fixed assets -€17,537
down €17,537 (-19.8%), from €88,529 to €70,992
of which Furniture and vehicles: -€14,211
- Cash +€16,669
up €16,669 (+824.2%), from €2,022 to €18,692
mainly Other debts (+€69,742) and Depreciation (+€18,415)
- Receivables within one year +€4,840
up €4,840 (+25.9%), from €18,723 to €23,563
of which Trade receivables: +€4,840
- Deferred charges and accrued income -€1,626
down €1,626 (-70.7%), from €2,299 to €673
- Reserves -€69,954
down €69,954 (-86.1%), from €81,283 to €11,329
- Other debts +€69,742
up €69,742 (+60492.5%), from €115 to €69,857
- Tax, wage and social debts +€13,871
up €13,871 (+631.0%), from €2,198 to €16,069
- Debts after one year -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
- Gross operating margin +€14,158
up €14,158 (+66.0%), from €21,467 to €35,625
- Taxes +€3,271
up €3,271 (+341.7%), from €957 to €4,228
- Depreciation +€1,315
up €1,315 (+7.7%), from €17,099 to €18,415
- Financial charges -€948
down €948 (-44.3%), from €2,139 to €1,191
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 | €111,573 | €113,919 | +€2,346 | +2.1% |
| Fixed assets | 21/28 | €88,529 | €70,992 | -€17,537 | -19.8% |
| Tangible fixed assets | 22/27 | €88,529 | €70,992 | -€17,537 | -19.8% |
| Plant, machinery and equipment | 23 | €4,807 | €3,903 | -€904 | -18.8% |
| Furniture and vehicles | 24 | €60,904 | €46,692 | -€14,211 | -23.3% |
| Other tangible fixed assets | 26 | €22,819 | €20,397 | -€2,422 | -10.6% |
| Current assets | 29/58 | €23,044 | €42,927 | +€19,883 | +86.3% |
| Amounts receivable within one year | 40/41 | €18,723 | €23,563 | +€4,840 | +25.9% |
| Trade receivables | 40 | €9,680 | €14,520 | +€4,840 | +50.0% |
| Other amounts receivable | 41 | €9,043 | €9,043 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,022 | €18,692 | +€16,669 | +824.2% |
| Deferred charges and accrued income | 490/1 | €2,299 | €673 | -€1,626 | -70.7% |
| Total equity and liabilities | 10/49 | €111,573 | €113,919 | +€2,346 | +2.1% |
| Equity | 10/15 | €86,283 | €16,329 | -€69,954 | -81.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,283 | €11,329 | -€69,954 | -86.1% |
| Distributable reserves | 133 | €81,283 | €11,329 | -€69,954 | -86.1% |
| Amounts payable | 17/49 | €25,290 | €97,590 | +€72,300 | +285.9% |
| Amounts payable after more than one year | 17 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Other amounts payable | 178/9 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Amounts payable within one year | 42/48 | €3,887 | €86,528 | +€82,642 | +2126.4% |
| Trade debts | 44 | €1,573 | €602 | -€971 | -61.7% |
| Suppliers | 440/4 | €1,573 | €602 | -€971 | -61.7% |
| Taxes, remuneration and social security | 45 | €2,198 | €16,069 | +€13,871 | +631.0% |
| Taxes | 450/3 | €2,198 | €16,069 | +€13,871 | +631.0% |
| Other amounts payable | 47/48 | €115 | €69,857 | +€69,742 | +60492.5% |
| Accrued charges and deferred income | 492/3 | €1,404 | €1,062 | -€342 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,099 | €18,415 | +€1,315 | +7.7% |
| Other operating charges | 640/8 | €505 | €462 | -€44 | -8.6% |
| Gross operating margin | 9900 | €21,467 | €35,625 | +€14,158 | +66.0% |
| Operating profit (loss) | 9901 | €3,862 | €16,749 | +€12,887 | +333.7% |
| Financial charges | 65/66B | €2,139 | €1,191 | -€948 | -44.3% |
| Recurring financial charges | 65 | €2,139 | €1,191 | -€948 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | €1,723 | €15,557 | +€13,834 | +803.0% |
| Income taxes | 67/77 | €957 | €4,228 | +€3,271 | +341.7% |
| Profit (loss) for the period | 9904 | €765 | €11,329 | +€10,563 | +1380.1% |
| Profit (loss) for the period to be appropriated | 9905 | €765 | €11,329 | +€10,563 | +1380.1% |
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 5 October 2026 via checked.be.