ND GESTION: 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 GESTION
Largest movements
- Stocks and contracts +€30,017
up €30,017 (+49.1%), from €61,126 to €91,143
- Cash -€23,295
down €23,295 (-44.8%), from €51,956 to €28,661
mainly Stocks and contracts (-€30,017) and Other debts (-€17,093)
- Tangible fixed assets -€20,982
down €20,982 (-91.6%), from €22,907 to €1,925
of which Furniture and vehicles: -€19,902
- Receivables within one year +€6,350
up €6,350 (+90.6%), from €7,010 to €13,360
of which Other amounts receivable: +€4,757
- Deferred charges and accrued income -€3,768
down €3,768 (-75.1%), from €5,019 to €1,251
- Trade debts +€36,891
up €36,891 (+52.6%), from €70,156 to €107,047
- Other debts -€17,093
no longer reported in 2025 (was €17,093)
- Debts after one year -€12,333
no longer reported in 2025 (was €12,333)
- Accrued charges and deferred income -€6,856
no longer reported in 2025 (was €6,856)
- Current portion of long-term debt -€6,162
no longer reported in 2025 (was €6,162)
- Staff costs -€39,998
down €39,998 (-23.5%), from €170,152 to €130,154
- Gross operating margin -€13,645
down €13,645 (-8.3%), from €165,012 to €151,367
From the 31-03-2025 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.
Derived cash bridge
Derived from the 31-03-2025 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 | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,428 | €140,750 | -€11,678 | -7.7% |
| Fixed assets | 21/28 | €27,317 | €6,335 | -€20,982 | -76.8% |
| Tangible fixed assets | 22/27 | €22,907 | €1,925 | -€20,982 | -91.6% |
| Plant, machinery and equipment | 23 | €2,414 | €1,334 | -€1,080 | -44.7% |
| Furniture and vehicles | 24 | €20,493 | €591 | -€19,902 | -97.1% |
| Financial fixed assets | 28 | €4,410 | €4,410 | = | 0.0% |
| Current assets | 29/58 | €125,111 | €134,415 | +€9,304 | +7.4% |
| Stocks and contracts in progress | 3 | €61,126 | €91,143 | +€30,017 | +49.1% |
| Stocks | 30/36 | €61,126 | €91,143 | +€30,017 | +49.1% |
| Amounts receivable within one year | 40/41 | €7,010 | €13,360 | +€6,350 | +90.6% |
| Trade receivables | 40 | €4,311 | €5,904 | +€1,593 | +37.0% |
| Other amounts receivable | 41 | €2,699 | €7,456 | +€4,757 | +176% |
| Cash at bank and in hand | 54/58 | €51,956 | €28,661 | -€23,295 | -44.8% |
| Deferred charges and accrued income | 490/1 | €5,019 | €1,251 | -€3,768 | -75.1% |
| Total equity and liabilities | 10/49 | €152,428 | €140,750 | -€11,678 | -7.7% |
| Equity | 10/15 | €11,930 | €6,785 | -€5,145 | -43.1% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Capital | 10 | €6,400 | - | -€6,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,200 | - | -€12,200 | |
| Profit (loss) carried forward | 14 | €5,530 | €385 | -€5,145 | -93.0% |
| Amounts payable | 17/49 | €140,498 | €133,965 | -€6,533 | -4.6% |
| Amounts payable after more than one year | 17 | €12,333 | - | -€12,333 | |
| Financial debts | 170/4 | €12,333 | - | -€12,333 | |
| Amounts payable within one year | 42/48 | €121,309 | €133,965 | +€12,656 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €6,162 | - | -€6,162 | |
| Trade debts | 44 | €70,156 | €107,047 | +€36,891 | +52.6% |
| Suppliers | 440/4 | €70,156 | €107,047 | +€36,891 | +52.6% |
| Taxes, remuneration and social security | 45 | €27,898 | €26,918 | -€980 | -3.5% |
| Taxes | 450/3 | €1,059 | €1,958 | +€899 | +84.9% |
| Remuneration and social security | 454/9 | €26,839 | €24,960 | -€1,879 | -7.0% |
| Other amounts payable | 47/48 | €17,093 | - | -€17,093 | |
| Accrued charges and deferred income | 492/3 | €6,856 | - | -€6,856 | |
| Remuneration, social security and pensions | 62 | €170,152 | €130,154 | -€39,998 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,562 | €2,115 | -€1,447 | -40.6% |
| Other operating charges | 640/8 | €3,558 | €3,303 | -€255 | -7.2% |
| Non-recurring operating charges | 66A | - | €18,867 | +€18,867 | |
| Gross operating margin | 9900 | €165,012 | €151,367 | -€13,645 | -8.3% |
| Operating profit (loss) | 9901 | -€12,260 | -€3,072 | +€9,188 | +74.9% |
| Financial income | 75/76B | €98 | €111 | +€13 | +13.3% |
| Recurring financial income | 75 | €98 | €111 | +€13 | +13.3% |
| Financial charges | 65/66B | €1,508 | €1,448 | -€60 | -4.0% |
| Recurring financial charges | 65 | €1,508 | €1,448 | -€60 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,670 | -€4,409 | +€9,261 | +67.7% |
| Income taxes | 67/77 | €154 | €736 | +€582 | +378% |
| Profit (loss) for the period | 9904 | -€13,824 | -€5,145 | +€8,679 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,824 | -€5,145 | +€8,679 | +62.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.