C.N.D.S.: 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.
C.N.D.S.
Largest movements
- Receivables within one year -€40,021
down €40,021 (-55.6%), from €71,998 to €31,978
of which Other amounts receivable: -€31,138
- Cash -€14,323
down €14,323 (-19.6%), from €72,966 to €58,643
mainly Contributions, distributions and other (-€183,000) and Tax, wage and social debts (-€31,398)
- Deferred charges and accrued income -€5,381
down €5,381 (-25.9%), from €20,756 to €15,375
- Profit (loss) carried forward -€123,696
down €123,696 (-99.9%), from €123,806 to €109
- Other debts +€97,649
new in 2025: €97,649
- Tax, wage and social debts -€31,398
down €31,398 (-86.7%), from €36,214 to €4,816
- Trade debts -€2,875
down €2,875 (-39.3%), from €7,306 to €4,431
- Financial charges -€53,849
down €53,849 (-99.5%), from €54,132 to €282
- Gross operating margin -€37,253
down €37,253 (-32.8%), from €113,587 to €76,334
- Taxes +€3,127
up €3,127 (+24.3%), from €12,878 to €16,005
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 | €169,708 | €109,171 | -€60,537 | -35.7% |
| Fixed assets | 21/28 | €3,988 | €3,175 | -€813 | -20.4% |
| Tangible fixed assets | 22/27 | €3,988 | €3,175 | -€813 | -20.4% |
| Furniture and vehicles | 24 | €3,988 | €3,175 | -€813 | -20.4% |
| Current assets | 29/58 | €165,720 | €105,996 | -€59,724 | -36.0% |
| Amounts receivable within one year | 40/41 | €71,998 | €31,978 | -€40,021 | -55.6% |
| Trade receivables | 40 | €40,860 | €31,978 | -€8,882 | -21.7% |
| Other amounts receivable | 41 | €31,138 | - | -€31,138 | |
| Cash at bank and in hand | 54/58 | €72,966 | €58,643 | -€14,323 | -19.6% |
| Deferred charges and accrued income | 490/1 | €20,756 | €15,375 | -€5,381 | -25.9% |
| Total equity and liabilities | 10/49 | €169,708 | €109,171 | -€60,537 | -35.7% |
| Equity | 10/15 | €125,806 | €2,109 | -€123,696 | -98.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,806 | €109 | -€123,696 | -99.9% |
| Amounts payable | 17/49 | €43,903 | €107,062 | +€63,159 | +144% |
| Amounts payable within one year | 42/48 | €43,520 | €106,897 | +€63,377 | +146% |
| Trade debts | 44 | €7,306 | €4,431 | -€2,875 | -39.3% |
| Suppliers | 440/4 | €7,306 | €4,431 | -€2,875 | -39.3% |
| Taxes, remuneration and social security | 45 | €36,214 | €4,816 | -€31,398 | -86.7% |
| Taxes | 450/3 | €36,214 | €4,816 | -€31,398 | -86.7% |
| Other amounts payable | 47/48 | - | €97,649 | +€97,649 | |
| Accrued charges and deferred income | 492/3 | €383 | €165 | -€218 | -56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €610 | €813 | +€203 | +33.3% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €113,587 | €76,334 | -€37,253 | -32.8% |
| Operating profit (loss) | 9901 | €112,978 | €75,122 | -€37,856 | -33.5% |
| Financial income | 75/76B | €1,567 | €469 | -€1,098 | -70.1% |
| Recurring financial income | 75 | €1,567 | €469 | -€1,098 | -70.1% |
| Financial charges | 65/66B | €54,132 | €282 | -€53,849 | -99.5% |
| Recurring financial charges | 65 | €54,132 | €282 | -€53,849 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €60,414 | €75,309 | +€14,895 | +24.7% |
| Income taxes | 67/77 | €12,878 | €16,005 | +€3,127 | +24.3% |
| Profit (loss) for the period | 9904 | €47,536 | €59,304 | +€11,768 | +24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,536 | €59,304 | +€11,768 | +24.8% |
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 20 October 2026 via checked.be.