ND 93: 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.
ND 93
Largest movements
- Receivables within one year +€137,713
up €137,713 (+512.2%), from €26,885 to €164,598
of which Trade receivables: +€145,216
- Stocks and contracts +€40,563
up €40,563 (+11.9%), from €340,990 to €381,553
- Cash +€14,229
up €14,229 (+21.9%), from €64,842 to €79,071
mainly Trade debts (+€259,673) and Investment in fixed assets (net) (+€13,932)
- Financial fixed assets -€13,932
down €13,932 (-82.9%), from €16,802 to €2,870
- Deferred charges and accrued income +€11,802
new in 2025: €11,802
- Trade debts +€259,673
up €259,673 (+33.1%), from €784,846 to €1.0m
- Profit (loss) carried forward -€59,679
down €59,679 (-12.7%), from -€468,953 to -€528,632
- Tax, wage and social debts -€9,398
down €9,398 (-7.4%), from €126,475 to €117,077
of which Remuneration and social security: -€5,265
- Turnover +€9.7m
new in 2025: €9.7m
- Purchases and services +€9.2m
new in 2025: €9.2m
- Staff costs +€197,790
up €197,790 (+37.6%), from €525,509 to €723,299
- Gross operating margin +€188,759
up €188,759 (+33.6%), from €561,732 to €750,491
From the 31-12-2024 result to the 31-12-2025 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
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €449,519 | €639,894 | +€190,375 | +42.4% |
| Fixed assets | 21/28 | €16,802 | €2,870 | -€13,932 | -82.9% |
| Financial fixed assets | 28 | €16,802 | €2,870 | -€13,932 | -82.9% |
| Current assets | 29/58 | €432,717 | €637,024 | +€204,307 | +47.2% |
| Stocks and contracts in progress | 3 | €340,990 | €381,553 | +€40,563 | +11.9% |
| Stocks | 30/36 | €340,990 | €381,553 | +€40,563 | +11.9% |
| Amounts receivable within one year | 40/41 | €26,885 | €164,598 | +€137,713 | +512.2% |
| Trade receivables | 40 | €11,409 | €156,625 | +€145,216 | +1272.8% |
| Other amounts receivable | 41 | €15,476 | €7,973 | -€7,503 | -48.5% |
| Cash at bank and in hand | 54/58 | €64,842 | €79,071 | +€14,229 | +21.9% |
| Deferred charges and accrued income | 490/1 | - | €11,802 | +€11,802 | |
| Total equity and liabilities | 10/49 | €449,519 | €639,894 | +€190,375 | +42.4% |
| Equity | 10/15 | -€462,553 | -€522,232 | -€59,679 | -12.9% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€468,953 | -€528,632 | -€59,679 | -12.7% |
| Amounts payable | 17/49 | €912,072 | €1,162,126 | +€250,054 | +27.4% |
| Amounts payable within one year | 42/48 | €912,072 | €1,162,126 | +€250,054 | +27.4% |
| Trade debts | 44 | €784,846 | €1,044,519 | +€259,673 | +33.1% |
| Suppliers | 440/4 | €784,846 | €1,044,519 | +€259,673 | +33.1% |
| Taxes, remuneration and social security | 45 | €126,475 | €117,077 | -€9,398 | -7.4% |
| Taxes | 450/3 | €8,009 | €3,876 | -€4,133 | -51.6% |
| Remuneration and social security | 454/9 | €118,466 | €113,201 | -€5,265 | -4.4% |
| Other amounts payable | 47/48 | €751 | €530 | -€221 | -29.4% |
| Turnover | 70 | - | €9,685,827 | +€9.7m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €9,161,907 | +€9.2m | |
| Remuneration, social security and pensions | 62 | €525,509 | €723,299 | +€197,790 | +37.6% |
| Other operating charges | 640/8 | €11,680 | €81,001 | +€69,321 | +593.5% |
| Gross operating margin | 9900 | €561,732 | €750,491 | +€188,759 | +33.6% |
| Operating profit (loss) | 9901 | €24,543 | -€53,809 | -€78,352 | |
| Financial income | 75/76B | €2,469 | €712 | -€1,757 | -71.2% |
| Recurring financial income | 75 | €2,469 | €712 | -€1,757 | -71.2% |
| Financial charges | 65/66B | €4,295 | €6,418 | +€2,123 | +49.4% |
| Recurring financial charges | 65 | €4,295 | €6,418 | +€2,123 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €22,717 | -€59,515 | -€82,232 | |
| Income taxes | 67/77 | €132 | €164 | +€32 | +24.2% |
| Profit (loss) for the period | 9904 | €22,585 | -€59,679 | -€82,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,585 | -€59,679 | -€82,264 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 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.