NADCOM: what changed
NADCOM
Largest movements
- Stocks and contracts +€965
up €965 (+24.8%), from €3,891 to €4,855
- Cash -€824
down €824 (-26.6%), from €3,094 to €2,270
mainly Tax, wage and social debts (-€4,950) and Stocks and contracts (-€965)
- Tax, wage and social debts -€4,950
down €4,950 (-30.9%), from €16,037 to €11,088
of which Remuneration and social security: -€4,910
- Profit (loss) carried forward +€3,097
up €3,097 (+13.1%), from -€23,570 to -€20,473
- Trade debts +€1,992
up €1,992 (+617%), from €323 to €2,315
- Staff costs -€11,515
down €11,515 (-23.6%), from €48,855 to €37,339
- Gross operating margin -€10,741
down €10,741 (-21.0%), from €51,232 to €40,491
- Turnover -€9,724
down €9,724 (-10.9%), from €89,383 to €79,659
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,142 | €7,281 | +€139 | +2.0% |
| Current assets | 29/58 | €7,142 | €7,281 | +€139 | +2.0% |
| Stocks and contracts in progress | 3 | €3,891 | €4,855 | +€965 | +24.8% |
| Stocks | 30/36 | €3,891 | €4,855 | +€965 | +24.8% |
| Amounts receivable within one year | 40/41 | €157 | €152 | -€6 | -3.6% |
| Trade receivables | 40 | €5 | - | -€5 | |
| Other amounts receivable | 41 | €152 | €152 | -€1 | -0.6% |
| Cash at bank and in hand | 54/58 | €3,094 | €2,270 | -€824 | -26.6% |
| Deferred charges and accrued income | 490/1 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €7,142 | €7,281 | +€139 | +2.0% |
| Equity | 10/15 | -€17,370 | -€14,273 | +€3,097 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,570 | -€20,473 | +€3,097 | +13.1% |
| Amounts payable | 17/49 | €24,512 | €21,554 | -€2,958 | -12.1% |
| Amounts payable within one year | 42/48 | €24,512 | €21,554 | -€2,958 | -12.1% |
| Trade debts | 44 | €323 | €2,315 | +€1,992 | +617% |
| Suppliers | 440/4 | €323 | €2,315 | +€1,992 | +617% |
| Taxes, remuneration and social security | 45 | €16,037 | €11,088 | -€4,950 | -30.9% |
| Taxes | 450/3 | €5,295 | €5,256 | -€39 | -0.7% |
| Remuneration and social security | 454/9 | €10,742 | €5,832 | -€4,910 | -45.7% |
| Other amounts payable | 47/48 | €8,152 | €8,152 | = | 0.0% |
| Turnover | 70 | €89,383 | €79,659 | -€9,724 | -10.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €38,715 | €39,178 | +€463 | +1.2% |
| Remuneration, social security and pensions | 62 | €48,855 | €37,339 | -€11,515 | -23.6% |
| Gross operating margin | 9900 | €51,232 | €40,491 | -€10,741 | -21.0% |
| Operating profit (loss) | 9901 | €2,377 | €3,151 | +€774 | +32.6% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €2,323 | €3,097 | +€774 | +33.3% |
| Profit (loss) for the period | 9904 | €2,323 | €3,097 | +€774 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,323 | €3,097 | +€774 | +33.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.