N.C.D.I.: 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.
N.C.D.I.
Largest movements
- Receivables within one year +€28,271
up €28,271 (+6,261%), from €452 to €28,722
- Tangible fixed assets -€27,792
down €27,792 (-7.3%), from €380,397 to €352,605
of which Land and buildings: -€15,863
- Cash -€16,550
down €16,550 (-92.6%), from €17,882 to €1,332
mainly Receivables within one year (-€28,271) and Investment in fixed assets (net) (-€16,174)
- Reserves -€9,374
down €9,374 (-9.2%), from €102,075 to €92,701
of which Distributable reserves: -€9,374
- Debts after one year -€9,238
down €9,238 (-13.7%), from €67,520 to €58,282
- Gross operating margin -€99,363
down €99,363 (-59.6%), from €166,771 to €67,408
- Taxes -€27,370
down €27,370 (-93.2%), from €29,373 to €2,003
- Depreciation +€9,499
up €9,499 (+27.6%), from €34,467 to €43,966
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 | €398,743 | €382,672 | -€16,071 | -4.0% |
| Fixed assets | 21/28 | €380,410 | €352,617 | -€27,792 | -7.3% |
| Tangible fixed assets | 22/27 | €380,397 | €352,605 | -€27,792 | -7.3% |
| Land and buildings | 22 | €272,598 | €256,736 | -€15,863 | -5.8% |
| Plant, machinery and equipment | 23 | €107,799 | €95,869 | -€11,930 | -11.1% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €18,334 | €30,055 | +€11,721 | +63.9% |
| Amounts receivable within one year | 40/41 | €452 | €28,722 | +€28,271 | +6,261% |
| Other amounts receivable | 41 | €452 | €28,722 | +€28,271 | +6,261% |
| Cash at bank and in hand | 54/58 | €17,882 | €1,332 | -€16,550 | -92.6% |
| Total equity and liabilities | 10/49 | €398,743 | €382,672 | -€16,071 | -4.0% |
| Equity | 10/15 | €317,591 | €308,217 | -€9,374 | -3.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €102,075 | €92,701 | -€9,374 | -9.2% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €95,878 | €86,504 | -€9,374 | -9.8% |
| Profit (loss) carried forward | 14 | €153,016 | €153,016 | = | 0.0% |
| Amounts payable | 17/49 | €81,152 | €74,455 | -€6,697 | -8.3% |
| Amounts payable after more than one year | 17 | €67,520 | €58,282 | -€9,238 | -13.7% |
| Financial debts | 170/4 | €67,520 | €58,282 | -€9,238 | -13.7% |
| Amounts payable within one year | 42/48 | €13,245 | €16,173 | +€2,928 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €9,902 | €10,150 | +€248 | +2.5% |
| Trade debts | 44 | €986 | - | -€986 | |
| Suppliers | 440/4 | €986 | - | -€986 | |
| Taxes, remuneration and social security | 45 | €2,357 | €3,040 | +€683 | +29.0% |
| Taxes | 450/3 | €2,357 | €3,040 | +€683 | +29.0% |
| Other amounts payable | 47/48 | - | €2,983 | +€2,983 | |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,467 | €43,966 | +€9,499 | +27.6% |
| Other operating charges | 640/8 | €12,155 | €12,541 | +€387 | +3.2% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €166,771 | €67,408 | -€99,363 | -59.6% |
| Operating profit (loss) | 9901 | €120,150 | €8,401 | -€111,749 | -93.0% |
| Financial income | 75/76B | €0 | €31 | +€31 | +77,400% |
| Recurring financial income | 75 | €0 | €31 | +€31 | +77,400% |
| Financial charges | 65/66B | €2,707 | €2,137 | -€570 | -21.1% |
| Recurring financial charges | 65 | €2,707 | €2,137 | -€570 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €117,443 | €6,295 | -€111,148 | -94.6% |
| Income taxes | 67/77 | €29,373 | €2,003 | -€27,370 | -93.2% |
| Profit (loss) for the period | 9904 | €88,070 | €4,292 | -€83,778 | -95.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,070 | €4,292 | -€83,778 | -95.1% |
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 17 October 2026 via checked.be.