N.V.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.
N.V.D.S.
Largest movements
- Receivables after one year +€120,000
new in 2025: €120,000
- Receivables within one year -€83,656
down €83,656 (-55.7%), from €150,122 to €66,467
of which Trade receivables: -€43,182
- Cash +€2,223
up €2,223 (+42.4%), from €5,236 to €7,459
mainly Receivables within one year (+€83,656) and Current portion of long-term debt (+€25,116)
- Current portion of long-term debt +€25,116
new in 2025: €25,116
- Tax, wage and social debts -€22,955
down €22,955 (-50.9%), from €45,129 to €22,174
of which Taxes: -€20,955
- Other debts +€22,437
new in 2025: €22,437
- Reserves +€22,312
up €22,312 (+23.1%), from €96,771 to €119,083
- Trade debts -€5,352
down €5,352 (-43.1%), from €12,431 to €7,079
- Gross operating margin -€90,268
down €90,268 (-70.9%), from €127,246 to €36,978
- Taxes -€18,535
down €18,535 (-61.7%), from €30,045 to €11,511
- Financial income -€1,683
down €1,683 (-100.0%), from €1,683 to €0
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 | €163,299 | €200,192 | +€36,893 | +22.6% |
| Fixed assets | 21/28 | €6,940 | €5,266 | -€1,674 | -24.1% |
| Tangible fixed assets | 22/27 | €6,940 | €5,266 | -€1,674 | -24.1% |
| Land and buildings | 22 | €6,940 | €5,266 | -€1,674 | -24.1% |
| Current assets | 29/58 | €156,358 | €194,926 | +€38,567 | +24.7% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €150,122 | €66,467 | -€83,656 | -55.7% |
| Trade receivables | 40 | €109,252 | €66,070 | -€43,182 | -39.5% |
| Other amounts receivable | 41 | €40,870 | €397 | -€40,474 | -99.0% |
| Cash at bank and in hand | 54/58 | €5,236 | €7,459 | +€2,223 | +42.4% |
| Deferred charges and accrued income | 490/1 | €1,000 | €1,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €163,299 | €200,192 | +€36,893 | +22.6% |
| Equity | 10/15 | €100,771 | €123,083 | +€22,312 | +22.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €96,771 | €119,083 | +€22,312 | +23.1% |
| Distributable reserves | 133 | €96,771 | €119,083 | +€22,312 | +23.1% |
| Amounts payable | 17/49 | €62,528 | €77,109 | +€14,581 | +23.3% |
| Amounts payable within one year | 42/48 | €62,528 | €76,937 | +€14,409 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | - | €25,116 | +€25,116 | |
| Financial debts | 43 | €4,969 | €132 | -€4,837 | -97.3% |
| Credit institutions | 430/8 | €4,969 | €132 | -€4,837 | -97.3% |
| Trade debts | 44 | €12,431 | €7,079 | -€5,352 | -43.1% |
| Suppliers | 440/4 | €12,431 | €7,079 | -€5,352 | -43.1% |
| Taxes, remuneration and social security | 45 | €45,129 | €22,174 | -€22,955 | -50.9% |
| Taxes | 450/3 | €43,129 | €22,174 | -€20,955 | -48.6% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | - | €22,437 | +€22,437 | |
| Accrued charges and deferred income | 492/3 | - | €172 | +€172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,430 | €1,674 | +€244 | +17.1% |
| Other operating charges | 640/8 | €572 | €821 | +€249 | +43.6% |
| Gross operating margin | 9900 | €127,246 | €36,978 | -€90,268 | -70.9% |
| Operating profit (loss) | 9901 | €125,245 | €34,483 | -€90,762 | -72.5% |
| Financial income | 75/76B | €1,683 | €0 | -€1,683 | -100.0% |
| Recurring financial income | 75 | €1,683 | €0 | -€1,683 | -100.0% |
| Financial charges | 65/66B | €112 | €660 | +€548 | +491% |
| Recurring financial charges | 65 | €112 | €660 | +€548 | +491% |
| Profit (loss) for the period before taxes | 9903 | €126,816 | €33,823 | -€92,993 | -73.3% |
| Income taxes | 67/77 | €30,045 | €11,511 | -€18,535 | -61.7% |
| Profit (loss) for the period | 9904 | €96,771 | €22,312 | -€74,459 | -76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,771 | €22,312 | -€74,459 | -76.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.