ND-DERMATO: 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.
ND-DERMATO
Largest movements
- Cash -€136,507
down €136,507 (-59.1%), from €230,790 to €94,283
mainly Contributions, distributions and other (-€200,000) and Other debts (-€184,610)
- Tangible fixed assets -€19,212
down €19,212 (-11.2%), from €172,170 to €152,957
of which Other tangible fixed assets: -€9,855
- Receivables within one year -€10,641
down €10,641 (-77.3%), from €13,764 to €3,123
- Other debts -€184,610
down €184,610 (-96.2%), from €191,887 to €7,277
- Reserves +€34,274
up €34,274 (+304%), from €11,291 to €45,565
- Debts after one year -€19,289
down €19,289 (-10.3%), from €187,783 to €168,494
- Trade debts +€7,625
up €7,625 (+186%), from €4,093 to €11,718
- Gross operating margin +€64,260
up €64,260 (+23.8%), from €270,109 to €334,368
- Taxes +€15,954
up €15,954 (+27.7%), from €57,493 to €73,447
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 | €419,128 | €257,791 | -€161,337 | -38.5% |
| Fixed assets | 21/28 | €172,170 | €154,957 | -€17,212 | -10.0% |
| Tangible fixed assets | 22/27 | €172,170 | €152,957 | -€19,212 | -11.2% |
| Land and buildings | 22 | €99,949 | €95,071 | -€4,878 | -4.9% |
| Plant, machinery and equipment | 23 | €8,084 | €5,457 | -€2,627 | -32.5% |
| Furniture and vehicles | 24 | €5,485 | €3,633 | -€1,852 | -33.8% |
| Other tangible fixed assets | 26 | €58,651 | €48,796 | -€9,855 | -16.8% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €246,958 | €102,834 | -€144,125 | -58.4% |
| Amounts receivable within one year | 40/41 | €13,764 | €3,123 | -€10,641 | -77.3% |
| Other amounts receivable | 41 | €13,764 | €3,123 | -€10,641 | -77.3% |
| Cash at bank and in hand | 54/58 | €230,790 | €94,283 | -€136,507 | -59.1% |
| Deferred charges and accrued income | 490/1 | €2,404 | €5,427 | +€3,023 | +126% |
| Total equity and liabilities | 10/49 | €419,128 | €257,791 | -€161,337 | -38.5% |
| Equity | 10/15 | €13,291 | €47,565 | +€34,274 | +258% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €11,291 | €45,565 | +€34,274 | +304% |
| Distributable reserves | 133 | €11,291 | €45,565 | +€34,274 | +304% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €405,837 | €210,225 | -€195,611 | -48.2% |
| Amounts payable after more than one year | 17 | €187,783 | €168,494 | -€19,289 | -10.3% |
| Financial debts | 170/4 | €187,783 | €168,494 | -€19,289 | -10.3% |
| Amounts payable within one year | 42/48 | €217,812 | €41,731 | -€176,081 | -80.8% |
| Current portion of amounts payable after more than one year | 42 | €21,832 | €19,289 | -€2,544 | -11.7% |
| Trade debts | 44 | €4,093 | €11,718 | +€7,625 | +186% |
| Suppliers | 440/4 | €4,093 | €11,718 | +€7,625 | +186% |
| Taxes, remuneration and social security | 45 | - | €3,447 | +€3,447 | |
| Taxes | 450/3 | - | €3,447 | +€3,447 | |
| Other amounts payable | 47/48 | €191,887 | €7,277 | -€184,610 | -96.2% |
| Accrued charges and deferred income | 492/3 | €241 | €0 | -€241 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,384 | €19,212 | -€171 | -0.9% |
| Other operating charges | 640/8 | €3,857 | €4,625 | +€769 | +19.9% |
| Gross operating margin | 9900 | €270,109 | €334,368 | +€64,260 | +23.8% |
| Operating profit (loss) | 9901 | €246,868 | €310,531 | +€63,662 | +25.8% |
| Financial income | 75/76B | €8 | €0 | -€8 | -98.8% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -98.8% |
| Financial charges | 65/66B | €3,043 | €2,809 | -€233 | -7.7% |
| Recurring financial charges | 65 | €3,043 | €2,809 | -€233 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €243,833 | €307,721 | +€63,888 | +26.2% |
| Income taxes | 67/77 | €57,493 | €73,447 | +€15,954 | +27.7% |
| Profit (loss) for the period | 9904 | €186,340 | €234,274 | +€47,934 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €186,340 | €234,274 | +€47,934 | +25.7% |
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 18 October 2026 via checked.be.