N.DEPOVER: 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.DEPOVER
Largest movements
- Cash -€159,745
down €159,745 (-83.5%), from €191,380 to €31,635
mainly Trade debts (-€109,680) and Receivables within one year (-€91,181)
- Receivables within one year +€91,181
up €91,181 (+63.9%), from €142,645 to €233,826
of which Other amounts receivable: +€54,028
- Tangible fixed assets -€12,244
down €12,244 (-29.9%), from €41,009 to €28,765
of which Furniture and vehicles: -€8,399
- Stocks and contracts -€5,500
down €5,500 (-5.8%), from €95,100 to €89,600
- Trade debts -€109,680
down €109,680 (-65.3%), from €167,859 to €58,179
- Profit (loss) carried forward +€95,227
up €95,227 (+81.8%), from -€116,455 to -€21,228
- Current portion of long-term debt -€50,000
no longer reported in 2025 (was €50,000)
- Tax, wage and social debts -€12,009
down €12,009 (-43.5%), from €27,611 to €15,601
of which Remuneration and social security: -€12,264
- Other debts -€9,527
no longer reported in 2025 (was €9,527)
- Gross operating margin +€246,282
up €246,282 (+311%), from €79,279 to €325,561
- Staff costs +€31,003
up €31,003 (+17.4%), from €177,739 to €208,742
- Taxes -€19,328
down €19,328 (-97.5%), from €19,832 to €503
- Financial charges -€3,509
down €3,509 (-30.6%), from €11,475 to €7,966
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 | €470,229 | €384,239 | -€85,990 | -18.3% |
| Fixed assets | 21/28 | €41,104 | €28,860 | -€12,244 | -29.8% |
| Tangible fixed assets | 22/27 | €41,009 | €28,765 | -€12,244 | -29.9% |
| Plant, machinery and equipment | 23 | €16,765 | €14,919 | -€1,846 | -11.0% |
| Furniture and vehicles | 24 | €16,895 | €8,496 | -€8,399 | -49.7% |
| Other tangible fixed assets | 26 | €7,349 | €5,350 | -€1,999 | -27.2% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €429,125 | €355,379 | -€73,746 | -17.2% |
| Stocks and contracts in progress | 3 | €95,100 | €89,600 | -€5,500 | -5.8% |
| Stocks | 30/36 | €95,100 | €89,600 | -€5,500 | -5.8% |
| Amounts receivable within one year | 40/41 | €142,645 | €233,826 | +€91,181 | +63.9% |
| Trade receivables | 40 | €136,236 | €173,389 | +€37,153 | +27.3% |
| Other amounts receivable | 41 | €6,409 | €60,437 | +€54,028 | +843% |
| Cash at bank and in hand | 54/58 | €191,380 | €31,635 | -€159,745 | -83.5% |
| Deferred charges and accrued income | 490/1 | - | €319 | +€319 | |
| Total equity and liabilities | 10/49 | €470,229 | €384,239 | -€85,990 | -18.3% |
| Equity | 10/15 | €215,232 | €310,459 | +€95,227 | +44.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | - | -€12,400 | |
| Share premium | 1100/10 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €319,287 | €319,287 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €317,427 | €317,427 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,455 | -€21,228 | +€95,227 | +81.8% |
| Amounts payable | 17/49 | €254,997 | €73,780 | -€181,217 | -71.1% |
| Amounts payable within one year | 42/48 | €254,997 | €73,780 | -€181,217 | -71.1% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €167,859 | €58,179 | -€109,680 | -65.3% |
| Suppliers | 440/4 | €167,859 | €58,179 | -€109,680 | -65.3% |
| Taxes, remuneration and social security | 45 | €27,611 | €15,601 | -€12,009 | -43.5% |
| Taxes | 450/3 | - | €255 | +€255 | |
| Remuneration and social security | 454/9 | €27,611 | €15,346 | -€12,264 | -44.4% |
| Other amounts payable | 47/48 | €9,527 | - | -€9,527 | |
| Non-recurring operating income | 76A | - | €4,807 | +€4,807 | |
| Remuneration, social security and pensions | 62 | €177,739 | €208,742 | +€31,003 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,990 | €12,244 | -€1,746 | -12.5% |
| Other operating charges | 640/8 | €1,569 | €880 | -€690 | -44.0% |
| Gross operating margin | 9900 | €79,279 | €325,561 | +€246,282 | +311% |
| Operating profit (loss) | 9901 | -€114,019 | €103,696 | +€217,715 | |
| Financial income | 75/76B | €2,046 | - | -€2,046 | |
| Recurring financial income | 75 | €2,046 | - | -€2,046 | |
| Financial charges | 65/66B | €11,475 | €7,966 | -€3,509 | -30.6% |
| Recurring financial charges | 65 | €11,475 | €7,966 | -€3,509 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€123,448 | €95,729 | +€219,177 | |
| Income taxes | 67/77 | €19,832 | €503 | -€19,328 | -97.5% |
| Profit (loss) for the period | 9904 | -€143,280 | €95,226 | +€238,506 | |
| Profit (loss) for the period to be appropriated | 9905 | -€143,280 | €95,226 | +€238,506 |
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 28 October 2026 via checked.be.