NTS BELGIUM: 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.
NTS BELGIUM
Largest movements
- Receivables within one year -€321,536
down €321,536 (-22.6%), from €1.4m to €1.1m
of which Trade receivables: -€243,671
- Stocks and contracts -€233,245
down €233,245 (-62.8%), from €371,363 to €138,118
- Deferred charges and accrued income -€52,508
down €52,508 (-99.7%), from €52,673 to €165
- Cash -€24,845
down €24,845 (-38.5%), from €64,559 to €39,714
mainly Trade debts (-€584,042) and Debts after one year (-€92,718)
- Trade debts -€584,042
down €584,042 (-55.0%), from €1.1m to €478,677
of which Suppliers: -€578,677
- Debts after one year -€92,718
down €92,718 (-100%), from €92,718 to €0
- Profit (loss) carried forward +€57,577
up €57,577 (+9.9%), from €581,948 to €639,526
- Gross operating margin -€133,326
down €133,326 (-15.2%), from €876,704 to €743,378
- Depreciation -€44,602
down €44,602 (-80.2%), from €55,603 to €11,001
- Write-downs +€25,162
up €25,162 (+194%), from €12,971 to €38,133
- Staff costs -€20,435
down €20,435 (-3.2%), from €632,385 to €611,951
- Financial income +€16,158
up €16,158 (+51.9%), from €31,132 to €47,291
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.
Derived cash bridge
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 | €1,919,009 | €1,284,182 | -€634,827 | -33.1% |
| Fixed assets | 21/28 | €5,443 | €2,749 | -€2,694 | -49.5% |
| Tangible fixed assets | 22/27 | €4,765 | €1,863 | -€2,902 | -60.9% |
| Plant, machinery and equipment | 23 | €3,106 | €1,418 | -€1,688 | -54.4% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,659 | €445 | -€1,214 | -73.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €678 | €886 | +€208 | +30.7% |
| Current assets | 29/58 | €1,913,566 | €1,281,433 | -€632,133 | -33.0% |
| Stocks and contracts in progress | 3 | €371,363 | €138,118 | -€233,245 | -62.8% |
| Stocks | 30/36 | €371,363 | €138,118 | -€233,245 | -62.8% |
| Amounts receivable within one year | 40/41 | €1,424,972 | €1,103,436 | -€321,536 | -22.6% |
| Trade receivables | 40 | €319,457 | €75,786 | -€243,671 | -76.3% |
| Other amounts receivable | 41 | €1,105,515 | €1,027,650 | -€77,865 | -7.0% |
| Cash at bank and in hand | 54/58 | €64,559 | €39,714 | -€24,845 | -38.5% |
| Deferred charges and accrued income | 490/1 | €52,673 | €165 | -€52,508 | -99.7% |
| Total equity and liabilities | 10/49 | €1,919,009 | €1,284,182 | -€634,827 | -33.1% |
| Equity | 10/15 | €602,408 | €659,986 | +€57,577 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €581,948 | €639,526 | +€57,577 | +9.9% |
| Amounts payable | 17/49 | €1,316,601 | €624,197 | -€692,404 | -52.6% |
| Amounts payable after more than one year | 17 | €92,718 | €0 | -€92,718 | -100% |
| Other amounts payable | 178/9 | €92,718 | €0 | -€92,718 | -100% |
| Amounts payable within one year | 42/48 | €1,223,882 | €624,197 | -€599,686 | -49.0% |
| Trade debts | 44 | €1,062,720 | €478,677 | -€584,042 | -55.0% |
| Suppliers | 440/4 | €1,039,412 | €460,735 | -€578,677 | -55.7% |
| Bills of exchange payable | 441 | €23,307 | €17,942 | -€5,365 | -23.0% |
| Taxes, remuneration and social security | 45 | €137,084 | €123,135 | -€13,949 | -10.2% |
| Taxes | 450/3 | €63,928 | €76,549 | +€12,621 | +19.7% |
| Remuneration and social security | 454/9 | €73,157 | €46,586 | -€26,571 | -36.3% |
| Other amounts payable | 47/48 | €24,078 | €22,384 | -€1,694 | -7.0% |
| Non-recurring operating income | 76A | €30 | €8,121 | +€8,091 | +26,999% |
| Remuneration, social security and pensions | 62 | €632,385 | €611,951 | -€20,435 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,603 | €11,001 | -€44,602 | -80.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,971 | €38,133 | +€25,162 | +194% |
| Other operating charges | 640/8 | €2,133 | €13,878 | +€11,746 | +551% |
| Non-recurring operating charges | 66A | €92,549 | €0 | -€92,549 | -100% |
| Gross operating margin | 9900 | €876,704 | €743,378 | -€133,326 | -15.2% |
| Operating profit (loss) | 9901 | €81,063 | €68,415 | -€12,648 | -15.6% |
| Financial income | 75/76B | €31,132 | €47,291 | +€16,158 | +51.9% |
| Recurring financial income | 75 | €31,132 | €47,291 | +€16,158 | +51.9% |
| Financial charges | 65/66B | €41,886 | €39,411 | -€2,475 | -5.9% |
| Recurring financial charges | 65 | €41,886 | €39,411 | -€2,475 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €70,310 | €76,295 | +€5,985 | +8.5% |
| Income taxes | 67/77 | €23,739 | €18,718 | -€5,021 | -21.2% |
| Profit (loss) for the period | 9904 | €46,570 | €57,577 | +€11,007 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,570 | €57,577 | +€11,007 | +23.6% |
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 14 October 2026 via checked.be.