ND09: 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.
ND09
Largest movements
- Stocks and contracts +€47,259
up €47,259 (+13.3%), from €355,700 to €402,959
- Receivables within one year +€29,053
up €29,053 (+110.6%), from €26,266 to €55,319
of which Trade receivables: +€32,526
- Deferred charges and accrued income -€5,938
down €5,938 (-19.3%), from €30,781 to €24,843
- Trade debts +€62,031
up €62,031 (+10.5%), from €592,706 to €654,737
- Profit (loss) carried forward +€9,327
up €9,327 (+4.2%), from -€221,538 to -€212,211
- Turnover +€8.0m
new in 2025: €8.0m
- Purchases and services +€7.3m
new in 2025: €7.3m
- Gross operating margin +€207,718
up €207,718 (+36.5%), from €569,751 to €777,469
- Staff costs +€101,619
up €101,619 (+18.2%), from €559,080 to €660,699
- Other operating charges +€80,183
up €80,183 (+482.4%), from €16,621 to €96,804
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.
Cash bridge derived
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 | €475,876 | €548,019 | +€72,143 | +15.2% |
| Fixed assets | 21/28 | €4,490 | €5,340 | +€850 | +18.9% |
| Financial fixed assets | 28 | €4,490 | €5,340 | +€850 | +18.9% |
| Current assets | 29/58 | €471,386 | €542,679 | +€71,293 | +15.1% |
| Stocks and contracts in progress | 3 | €355,700 | €402,959 | +€47,259 | +13.3% |
| Stocks | 30/36 | €355,700 | €402,959 | +€47,259 | +13.3% |
| Amounts receivable within one year | 40/41 | €26,266 | €55,319 | +€29,053 | +110.6% |
| Trade receivables | 40 | €19,312 | €51,838 | +€32,526 | +168.4% |
| Other amounts receivable | 41 | €6,954 | €3,481 | -€3,473 | -49.9% |
| Cash at bank and in hand | 54/58 | €58,639 | €59,558 | +€919 | +1.6% |
| Deferred charges and accrued income | 490/1 | €30,781 | €24,843 | -€5,938 | -19.3% |
| Total equity and liabilities | 10/49 | €475,876 | €548,019 | +€72,143 | +15.2% |
| Equity | 10/15 | -€215,138 | -€205,811 | +€9,327 | +4.3% |
| 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 | -€221,538 | -€212,211 | +€9,327 | +4.2% |
| Amounts payable | 17/49 | €691,014 | €753,830 | +€62,816 | +9.1% |
| Amounts payable within one year | 42/48 | €691,014 | €753,830 | +€62,816 | +9.1% |
| Trade debts | 44 | €592,706 | €654,737 | +€62,031 | +10.5% |
| Suppliers | 440/4 | €592,706 | €654,737 | +€62,031 | +10.5% |
| Taxes, remuneration and social security | 45 | €96,938 | €98,551 | +€1,613 | +1.7% |
| Taxes | 450/3 | €3,535 | €3,650 | +€115 | +3.3% |
| Remuneration and social security | 454/9 | €93,403 | €94,901 | +€1,498 | +1.6% |
| Other amounts payable | 47/48 | €1,370 | €542 | -€828 | -60.4% |
| Turnover | 70 | - | €7,955,851 | +€8.0m | |
| Non-recurring operating income | 76A | - | €603 | +€603 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €7,326,375 | +€7.3m | |
| Remuneration, social security and pensions | 62 | €559,080 | €660,699 | +€101,619 | +18.2% |
| Other operating charges | 640/8 | €16,621 | €96,804 | +€80,183 | +482.4% |
| Gross operating margin | 9900 | €569,751 | €777,469 | +€207,718 | +36.5% |
| Operating profit (loss) | 9901 | -€5,950 | €19,966 | +€25,916 | |
| Financial income | 75/76B | €2,100 | €20 | -€2,080 | -99.0% |
| Recurring financial income | 75 | €2,100 | €20 | -€2,080 | -99.0% |
| Financial charges | 65/66B | €3,763 | €10,310 | +€6,547 | +174.0% |
| Recurring financial charges | 65 | €3,763 | €10,310 | +€6,547 | +174.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,613 | €9,676 | +€17,289 | |
| Income taxes | 67/77 | €267 | €349 | +€82 | +30.7% |
| Profit (loss) for the period | 9904 | -€7,880 | €9,327 | +€17,207 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,880 | €9,327 | +€17,207 |
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 6 October 2026 via checked.be.