NTZorg: 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.
NTZorg
Largest movements
- Receivables within one year +€34,831
up €34,831 (+158.5%), from €21,982 to €56,812
of which Other amounts receivable: +€35,160
- Tangible fixed assets -€12,116
down €12,116 (-41.8%), from €28,984 to €16,868
- Cash -€5,593
down €5,593 (-5.6%), from €99,649 to €94,056
mainly Receivables within one year (-€34,831) and Debts after one year (-€9,568)
- Reserves +€29,132
up €29,132 (+31.9%), from €91,432 to €120,564
- Debts after one year -€9,568
down €9,568 (-62.5%), from €15,320 to €5,752
of which Financial debts: -€13,808
- Tax, wage and social debts -€6,003
down €6,003 (-22.5%), from €26,681 to €20,678
of which Taxes: -€7,503
- Current portion of long-term debt +€4,629
up €4,629 (+36.9%), from €12,551 to €17,180
- Gross operating margin -€2,833
down €2,833 (-4.6%), from €62,181 to €59,348
- Taxes +€1,432
up €1,432 (+10.5%), from €13,623 to €15,055
- Depreciation +€1,340
up €1,340 (+10.3%), from €13,073 to €14,413
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 | €151,393 | €168,160 | +€16,766 | +11.1% |
| Formation expenses | 20 | €434 | €174 | -€260 | -60.0% |
| Fixed assets | 21/28 | €28,984 | €16,868 | -€12,116 | -41.8% |
| Tangible fixed assets | 22/27 | €28,984 | €16,868 | -€12,116 | -41.8% |
| Furniture and vehicles | 24 | €28,984 | €16,868 | -€12,116 | -41.8% |
| Current assets | 29/58 | €121,976 | €151,118 | +€29,142 | +23.9% |
| Stocks and contracts in progress | 3 | €345 | €250 | -€95 | -27.5% |
| Stocks | 30/36 | €345 | €250 | -€95 | -27.5% |
| Amounts receivable within one year | 40/41 | €21,982 | €56,812 | +€34,831 | +158.5% |
| Trade receivables | 40 | €1,387 | €1,057 | -€330 | -23.8% |
| Other amounts receivable | 41 | €20,595 | €55,755 | +€35,160 | +170.7% |
| Cash at bank and in hand | 54/58 | €99,649 | €94,056 | -€5,593 | -5.6% |
| Total equity and liabilities | 10/49 | €151,393 | €168,160 | +€16,766 | +11.1% |
| Equity | 10/15 | €93,932 | €123,064 | +€29,132 | +31.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €91,432 | €120,564 | +€29,132 | +31.9% |
| Distributable reserves | 133 | €91,432 | €120,564 | +€29,132 | +31.9% |
| Amounts payable | 17/49 | €57,461 | €45,096 | -€12,365 | -21.5% |
| Amounts payable after more than one year | 17 | €15,320 | €5,752 | -€9,568 | -62.5% |
| Financial debts | 170/4 | €14,879 | €1,071 | -€13,808 | -92.8% |
| Other amounts payable | 178/9 | €440 | €4,681 | +€4,240 | +962.7% |
| Amounts payable within one year | 42/48 | €42,142 | €39,344 | -€2,798 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €12,551 | €17,180 | +€4,629 | +36.9% |
| Trade debts | 44 | €2,909 | €1,485 | -€1,424 | -48.9% |
| Suppliers | 440/4 | €2,909 | €1,485 | -€1,424 | -48.9% |
| Taxes, remuneration and social security | 45 | €26,681 | €20,678 | -€6,003 | -22.5% |
| Taxes | 450/3 | €26,681 | €19,178 | -€7,503 | -28.1% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,073 | €14,413 | +€1,340 | +10.3% |
| Other operating charges | 640/8 | €753 | €581 | -€171 | -22.8% |
| Non-recurring operating charges | 66A | €63 | €252 | +€189 | +300.2% |
| Gross operating margin | 9900 | €62,181 | €59,348 | -€2,833 | -4.6% |
| Operating profit (loss) | 9901 | €48,292 | €44,102 | -€4,190 | -8.7% |
| Financial income | 75/76B | €301 | €672 | +€372 | +123.6% |
| Recurring financial income | 75 | €301 | €672 | +€372 | +123.6% |
| Financial charges | 65/66B | €603 | €588 | -€15 | -2.6% |
| Recurring financial charges | 65 | €603 | €588 | -€15 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €47,990 | €44,187 | -€3,803 | -7.9% |
| Income taxes | 67/77 | €13,623 | €15,055 | +€1,432 | +10.5% |
| Profit (loss) for the period | 9904 | €34,367 | €29,132 | -€5,235 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,367 | €29,132 | -€5,235 | -15.2% |
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 10 October 2026 via checked.be.