N.D.T.: 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.
N.D.T.
Largest movements
- Receivables within one year +€44,999
up €44,999 (+146.4%), from €30,734 to €75,733
- Other debts +€61,718
up €61,718 (+86.8%), from €71,113 to €132,831
- Current portion of long-term debt +€23,245
up €23,245 (+67.4%), from €34,492 to €57,737
- Debts after one year -€22,676
down €22,676 (-3.6%), from €632,285 to €609,609
- Profit (loss) carried forward -€15,591
down €15,591 (-126.3%), from -€12,340 to -€27,930
- Trade debts -€14,319
no longer reported in 2025 (was €14,319)
- Gross operating margin +€55,029
up €55,029 (+264.1%), from €20,834 to €75,862
- Purchases and services -€23,769
down €23,769 (-58.9%), from €40,348 to €16,579
- Financial charges +€21,460
up €21,460 (+77.3%), from €27,752 to €49,212
- Depreciation +€17,387
up €17,387 (+82.0%), from €21,214 to €38,601
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €845,471 | €883,420 | +€37,949 | +4.5% |
| Fixed assets | 21/28 | €813,982 | €807,687 | -€6,295 | -0.8% |
| Tangible fixed assets | 22/27 | €813,982 | €807,687 | -€6,295 | -0.8% |
| Land and buildings | 22 | €803,029 | €797,829 | -€5,200 | -0.6% |
| Furniture and vehicles | 24 | €10,953 | €9,858 | -€1,095 | -10.0% |
| Current assets | 29/58 | €31,488 | €75,733 | +€44,244 | +140.5% |
| Amounts receivable within one year | 40/41 | €30,734 | €75,733 | +€44,999 | +146.4% |
| Trade receivables | 40 | €30,734 | €75,733 | +€44,999 | +146.4% |
| Deferred charges and accrued income | 490/1 | €755 | - | -€755 | |
| Total equity and liabilities | 10/49 | €845,471 | €883,420 | +€37,949 | +4.5% |
| Equity | 10/15 | €79,060 | €63,470 | -€15,591 | -19.7% |
| Contributions | 10/11 | €74,000 | €74,000 | = | 0.0% |
| Capital | 10 | €74,000 | €74,000 | = | 0.0% |
| Issued capital | 100 | €74,000 | €74,000 | = | 0.0% |
| Reserves | 13 | €17,400 | €17,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,400 | €7,400 | = | 0.0% |
| Legal reserve | 130 | - | €7,400 | +€7,400 | |
| Reserves not available under the articles | 1311 | €7,400 | - | -€7,400 | |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,340 | -€27,930 | -€15,591 | -126.3% |
| Amounts payable | 17/49 | €766,410 | €819,950 | +€53,540 | +7.0% |
| Amounts payable after more than one year | 17 | €632,285 | €609,609 | -€22,676 | -3.6% |
| Financial debts | 170/4 | €632,285 | €609,609 | -€22,676 | -3.6% |
| Amounts payable within one year | 42/48 | €134,125 | €210,341 | +€76,216 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €34,492 | €57,737 | +€23,245 | +67.4% |
| Financial debts | 43 | €14,201 | €19,774 | +€5,572 | +39.2% |
| Credit institutions | 430/8 | €14,201 | €19,774 | +€5,572 | +39.2% |
| Trade debts | 44 | €14,319 | - | -€14,319 | |
| Suppliers | 440/4 | €14,319 | - | -€14,319 | |
| Other amounts payable | 47/48 | €71,113 | €132,831 | +€61,718 | +86.8% |
| Non-recurring operating income | 76A | €521,712 | - | -€521,712 | |
| Goods, raw materials, services and sundry goods | 60/61 | €40,348 | €16,579 | -€23,769 | -58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,214 | €38,601 | +€17,387 | +82.0% |
| Other operating charges | 640/8 | €3,794 | €3,640 | -€155 | -4.1% |
| Gross operating margin | 9900 | €20,834 | €75,862 | +€55,029 | +264.1% |
| Operating profit (loss) | 9901 | -€4,174 | €33,622 | +€37,796 | |
| Financial charges | 65/66B | €27,752 | €49,212 | +€21,460 | +77.3% |
| Recurring financial charges | 65 | €27,752 | €49,212 | +€21,460 | +77.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,927 | -€15,591 | +€16,336 | +51.2% |
| Profit (loss) for the period | 9904 | -€31,927 | -€15,591 | +€16,336 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,927 | -€15,591 | +€16,336 | +51.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 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.