NUBACO: 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.
NUBACO
Largest movements
- Stocks and contracts -€25,346
down €25,346 (-45.2%), from €56,022 to €30,677
- Receivables within one year +€5,652
up €5,652 (+3.9%), from €144,885 to €150,538
of which Other amounts receivable: +€15,772
- Tangible fixed assets -€4,477
down €4,477 (-4.4%), from €102,825 to €98,349
of which Plant, machinery and equipment: -€3,374
- Advances received -€40,000
no longer reported in 2025 (was €40,000)
- Short-term financial debts +€21,766
up €21,766 (+95.9%), from €22,704 to €44,470
of which Credit institutions: +€22,000
- Tax, wage and social debts -€5,147
down €5,147 (-20.2%), from €25,540 to €20,393
of which Remuneration and social security: -€2,915
- Profit (loss) carried forward +€3,413
up €3,413 (+2.1%), from €160,749 to €164,162
- Gross operating margin +€26,957
up €26,957 (+34.3%), from €78,696 to €105,652
- Staff costs -€11,883
down €11,883 (-14.0%), from €84,669 to €72,786
- Financial charges +€3,809
up €3,809 (+57.6%), from €6,614 to €10,423
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 | €321,306 | €298,390 | -€22,916 | -7.1% |
| Fixed assets | 21/28 | €102,825 | €98,349 | -€4,477 | -4.4% |
| Tangible fixed assets | 22/27 | €102,825 | €98,349 | -€4,477 | -4.4% |
| Land and buildings | 22 | €95,870 | €95,167 | -€703 | -0.7% |
| Plant, machinery and equipment | 23 | €6,175 | €2,801 | -€3,374 | -54.6% |
| Furniture and vehicles | 24 | €780 | €380 | -€400 | -51.2% |
| Current assets | 29/58 | €218,481 | €200,042 | -€18,439 | -8.4% |
| Stocks and contracts in progress | 3 | €56,022 | €30,677 | -€25,346 | -45.2% |
| Stocks | 30/36 | €56,022 | €30,677 | -€25,346 | -45.2% |
| Amounts receivable within one year | 40/41 | €144,885 | €150,538 | +€5,652 | +3.9% |
| Trade receivables | 40 | €90,656 | €80,536 | -€10,120 | -11.2% |
| Other amounts receivable | 41 | €54,229 | €70,001 | +€15,772 | +29.1% |
| Cash at bank and in hand | 54/58 | €16,472 | €18,827 | +€2,355 | +14.3% |
| Deferred charges and accrued income | 490/1 | €1,101 | - | -€1,101 | |
| Total equity and liabilities | 10/49 | €321,306 | €298,390 | -€22,916 | -7.1% |
| Equity | 10/15 | €185,726 | €189,138 | +€3,413 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,376 | €6,376 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,882 | €2,882 | = | 0.0% |
| Distributable reserves | 133 | €3,494 | €3,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | €160,749 | €164,162 | +€3,413 | +2.1% |
| Amounts payable | 17/49 | €135,581 | €109,252 | -€26,329 | -19.4% |
| Amounts payable within one year | 42/48 | €134,630 | €109,252 | -€25,379 | -18.9% |
| Financial debts | 43 | €22,704 | €44,470 | +€21,766 | +95.9% |
| Credit institutions | 430/8 | €18,000 | €40,000 | +€22,000 | +122.2% |
| Other loans | 439 | €4,704 | €4,470 | -€234 | -5.0% |
| Trade debts | 44 | €46,387 | €44,389 | -€1,998 | -4.3% |
| Suppliers | 440/4 | €46,387 | €44,389 | -€1,998 | -4.3% |
| Advances received on contracts in progress | 46 | €40,000 | - | -€40,000 | |
| Taxes, remuneration and social security | 45 | €25,540 | €20,393 | -€5,147 | -20.2% |
| Taxes | 450/3 | €12,437 | €10,205 | -€2,231 | -17.9% |
| Remuneration and social security | 454/9 | €13,103 | €10,188 | -€2,915 | -22.2% |
| Accrued charges and deferred income | 492/3 | €950 | - | -€950 | |
| Remuneration, social security and pensions | 62 | €84,669 | €72,786 | -€11,883 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,972 | €12,477 | +€505 | +4.2% |
| Other operating charges | 640/8 | €8,721 | €9,116 | +€394 | +4.5% |
| Gross operating margin | 9900 | €78,696 | €105,652 | +€26,957 | +34.3% |
| Operating profit (loss) | 9901 | -€26,667 | €11,274 | +€37,941 | |
| Financial income | 75/76B | €1,714 | €2,562 | +€848 | +49.5% |
| Recurring financial income | 75 | €1,714 | €2,562 | +€848 | +49.5% |
| Financial charges | 65/66B | €6,614 | €10,423 | +€3,809 | +57.6% |
| Recurring financial charges | 65 | €6,614 | €10,423 | +€3,809 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,568 | €3,413 | +€34,980 | |
| Profit (loss) for the period | 9904 | -€31,568 | €3,413 | +€34,980 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,568 | €3,413 | +€34,980 |
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 8 October 2026 via checked.be.