NCAH: 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.
NCAH
Largest movements
- Receivables within one year +€225,008
up €225,008 (+406%), from €55,465 to €280,473
of which Other amounts receivable: +€227,250
- Receivables after one year -€137,000
down €137,000 (-100%), from €137,000 to €0
- Cash -€24,480
down €24,480 (-95.5%), from €25,638 to €1,158
mainly Receivables within one year (-€225,008) and Trade debts (-€78,950)
- Tangible fixed assets +€23,824
up €23,824 (+64.6%), from €36,857 to €60,681
of which Furniture and vehicles: +€29,606
- Tax, wage and social debts +€130,622
up €130,622 (+158%), from €82,531 to €213,153
of which Remuneration and social security: +€117,884
- Trade debts -€78,950
down €78,950 (-68.6%), from €115,080 to €36,130
- Reserves +€24,080
up €24,080 (+37.2%), from €64,700 to €88,780
- Current portion of long-term debt +€8,362
new in 2025: €8,362
- Gross operating margin +€100,399
up €100,399 (+13.2%), from €762,340 to €862,739
- Financial charges +€27,784
up €27,784 (+4,396%), from €632 to €28,416
- Depreciation +€21,402
up €21,402 (+139%), from €15,375 to €36,777
- Other operating charges +€16,202
up €16,202 (+162%), from €10,018 to €26,220
- Taxes +€10,648
up €10,648 (+101%), from €10,531 to €21,179
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 | €263,211 | €347,313 | +€84,102 | +32.0% |
| Fixed assets | 21/28 | €36,857 | €60,681 | +€23,824 | +64.6% |
| Tangible fixed assets | 22/27 | €36,857 | €60,681 | +€23,824 | +64.6% |
| Land and buildings | 22 | €8,760 | €7,167 | -€1,594 | -18.2% |
| Plant, machinery and equipment | 23 | €15,109 | €10,922 | -€4,188 | -27.7% |
| Furniture and vehicles | 24 | €12,987 | €42,593 | +€29,606 | +228% |
| Current assets | 29/58 | €226,354 | €286,632 | +€60,278 | +26.6% |
| Amounts receivable after more than one year | 29 | €137,000 | €0 | -€137,000 | -100% |
| Other amounts receivable | 291 | €137,000 | €0 | -€137,000 | -100% |
| Amounts receivable within one year | 40/41 | €55,465 | €280,473 | +€225,008 | +406% |
| Trade receivables | 40 | €3,669 | €1,427 | -€2,242 | -61.1% |
| Other amounts receivable | 41 | €51,796 | €279,046 | +€227,250 | +439% |
| Cash at bank and in hand | 54/58 | €25,638 | €1,158 | -€24,480 | -95.5% |
| Deferred charges and accrued income | 490/1 | €8,250 | €5,000 | -€3,250 | -39.4% |
| Total equity and liabilities | 10/49 | €263,211 | €347,313 | +€84,102 | +32.0% |
| Equity | 10/15 | €65,205 | €89,295 | +€24,090 | +36.9% |
| Reserves | 13 | €64,700 | €88,780 | +€24,080 | +37.2% |
| Distributable reserves | 133 | €64,700 | €88,780 | +€24,080 | +37.2% |
| Profit (loss) carried forward | 14 | €505 | €515 | +€10 | +1.9% |
| Amounts payable | 17/49 | €198,005 | €258,018 | +€60,013 | +30.3% |
| Amounts payable within one year | 42/48 | €198,005 | €258,018 | +€60,013 | +30.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,362 | +€8,362 | |
| Trade debts | 44 | €115,080 | €36,130 | -€78,950 | -68.6% |
| Suppliers | 440/4 | €115,080 | €36,130 | -€78,950 | -68.6% |
| Taxes, remuneration and social security | 45 | €82,531 | €213,153 | +€130,622 | +158% |
| Taxes | 450/3 | €25,593 | €38,331 | +€12,738 | +49.8% |
| Remuneration and social security | 454/9 | €56,938 | €174,822 | +€117,884 | +207% |
| Other amounts payable | 47/48 | €395 | €373 | -€22 | -5.5% |
| Remuneration, social security and pensions | 62 | €728,292 | €726,571 | -€1,721 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,375 | €36,777 | +€21,402 | +139% |
| Other operating charges | 640/8 | €10,018 | €26,220 | +€16,202 | +162% |
| Gross operating margin | 9900 | €762,340 | €862,739 | +€100,399 | +13.2% |
| Operating profit (loss) | 9901 | €8,656 | €73,171 | +€64,515 | +745% |
| Financial income | 75/76B | €3,004 | €513 | -€2,491 | -82.9% |
| Recurring financial income | 75 | €3,004 | €513 | -€2,491 | -82.9% |
| Financial charges | 65/66B | €632 | €28,416 | +€27,784 | +4,396% |
| Recurring financial charges | 65 | €632 | €28,416 | +€27,784 | +4,396% |
| Profit (loss) for the period before taxes | 9903 | €11,028 | €45,268 | +€34,241 | +310% |
| Income taxes | 67/77 | €10,531 | €21,179 | +€10,648 | +101% |
| Profit (loss) for the period | 9904 | €497 | €24,090 | +€23,593 | +4,748% |
| Profit (loss) for the period to be appropriated | 9905 | €497 | €24,090 | +€23,593 | +4,748% |
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 24 October 2026 via checked.be.