ND LAW: 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 LAW
Largest movements
- Tangible fixed assets +€355,002
up €355,002 (+2,160%), from €16,433 to €371,436
of which Land and buildings: +€353,156
- Current investments -€20,000
no longer reported in 2025 (was €20,000)
- Cash -€16,811
down €16,811 (-61.8%), from €27,212 to €10,401
mainly Investment in fixed assets (net) (-€411,105) and Net result for the year (-€16,022)
- Debts after one year +€271,890
up €271,890 (+1,848%), from €14,710 to €286,600
- Current portion of long-term debt +€32,122
up €32,122 (+690%), from €4,655 to €36,777
- Other debts +€24,879
up €24,879 (+2,031%), from €1,225 to €26,104
- Profit (loss) carried forward -€16,022
down €16,022 (-60.2%), from €26,624 to €10,602
- Accrued charges and deferred income +€5,306
up €5,306 (+2,530%), from €210 to €5,515
- Depreciation +€51,168
up €51,168 (+1,101%), from €4,649 to €55,818
- Gross operating margin +€16,543
up €16,543 (+49.3%), from €33,556 to €50,099
- Financial charges +€9,174
up €9,174 (+1,498%), from €612 to €9,787
- Taxes -€7,269
down €7,269 (-97.5%), from €7,459 to €190
- Other operating charges +€821
up €821 (+371%), from €221 to €1,042
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 | €65,138 | €383,296 | +€318,158 | +488% |
| Fixed assets | 21/28 | €16,433 | €371,721 | +€355,287 | +2,162% |
| Tangible fixed assets | 22/27 | €16,433 | €371,436 | +€355,002 | +2,160% |
| Land and buildings | 22 | - | €353,156 | +€353,156 | |
| Plant, machinery and equipment | 23 | - | €6,197 | +€6,197 | |
| Furniture and vehicles | 24 | €16,433 | €12,083 | -€4,351 | -26.5% |
| Financial fixed assets | 28 | - | €285 | +€285 | |
| Current assets | 29/58 | €48,705 | €11,576 | -€37,130 | -76.2% |
| Amounts receivable within one year | 40/41 | €450 | €23 | -€427 | -94.9% |
| Trade receivables | 40 | €450 | - | -€450 | |
| Other amounts receivable | 41 | - | €23 | +€23 | |
| Current investments | 50/53 | €20,000 | - | -€20,000 | |
| Cash at bank and in hand | 54/58 | €27,212 | €10,401 | -€16,811 | -61.8% |
| Deferred charges and accrued income | 490/1 | €1,043 | €1,152 | +€109 | +10.4% |
| Total equity and liabilities | 10/49 | €65,138 | €383,296 | +€318,158 | +488% |
| Equity | 10/15 | €29,624 | €13,602 | -€16,022 | -54.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,624 | €10,602 | -€16,022 | -60.2% |
| Amounts payable | 17/49 | €35,515 | €369,694 | +€334,180 | +941% |
| Amounts payable after more than one year | 17 | €14,710 | €286,600 | +€271,890 | +1,848% |
| Financial debts | 170/4 | €14,710 | €286,600 | +€271,890 | +1,848% |
| Amounts payable within one year | 42/48 | €20,595 | €77,579 | +€56,984 | +277% |
| Current portion of amounts payable after more than one year | 42 | €4,655 | €36,777 | +€32,122 | +690% |
| Trade debts | 44 | €1,670 | €6,159 | +€4,489 | +269% |
| Suppliers | 440/4 | €1,670 | €6,159 | +€4,489 | +269% |
| Taxes, remuneration and social security | 45 | €13,045 | €8,540 | -€4,506 | -34.5% |
| Taxes | 450/3 | €13,045 | €8,540 | -€4,506 | -34.5% |
| Other amounts payable | 47/48 | €1,225 | €26,104 | +€24,879 | +2,031% |
| Accrued charges and deferred income | 492/3 | €210 | €5,515 | +€5,306 | +2,530% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,649 | €55,818 | +€51,168 | +1,101% |
| Other operating charges | 640/8 | €221 | €1,042 | +€821 | +371% |
| Gross operating margin | 9900 | €33,556 | €50,099 | +€16,543 | +49.3% |
| Operating profit (loss) | 9901 | €28,685 | -€6,761 | -€35,446 | |
| Financial income | 75/76B | €10 | €716 | +€706 | +7,181% |
| Recurring financial income | 75 | €10 | €716 | +€706 | +7,181% |
| Financial charges | 65/66B | €612 | €9,787 | +€9,174 | +1,498% |
| Recurring financial charges | 65 | €612 | €9,787 | +€9,174 | +1,498% |
| Profit (loss) for the period before taxes | 9903 | €28,083 | -€15,832 | -€43,915 | |
| Income taxes | 67/77 | €7,459 | €190 | -€7,269 | -97.5% |
| Profit (loss) for the period | 9904 | €20,624 | -€16,022 | -€36,646 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,624 | -€16,022 | -€36,646 |
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 17 October 2026 via checked.be.