ND1976: 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.
ND1976
Largest movements
- Current investments +€201,751
up €201,751 (+101%), from €200,000 to €401,751
- Cash -€47,895
down €47,895 (-53.3%), from €89,853 to €41,958
mainly Current investments (-€201,751) and Investment in fixed assets (net) (-€1,043)
- Reserves +€121,345
up €121,345 (+58.4%), from €207,924 to €329,269
- Tax, wage and social debts +€32,619
up €32,619 (+42.7%), from €76,396 to €109,015
- Gross operating margin -€118,486
down €118,486 (-43.7%), from €271,224 to €152,738
- Taxes -€28,666
down €28,666 (-45.5%), from €62,975 to €34,309
- Financial income +€5,716
up €5,716 (+2,793%), from €205 to €5,920
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 | €290,058 | €444,600 | +€154,542 | +53.3% |
| Fixed assets | 21/28 | - | €891 | +€891 | |
| Tangible fixed assets | 22/27 | - | €891 | +€891 | |
| Plant, machinery and equipment | 23 | - | €891 | +€891 | |
| Current assets | 29/58 | €290,058 | €443,709 | +€153,651 | +53.0% |
| Current investments | 50/53 | €200,000 | €401,751 | +€201,751 | +101% |
| Cash at bank and in hand | 54/58 | €89,853 | €41,958 | -€47,895 | -53.3% |
| Deferred charges and accrued income | 490/1 | €205 | €0 | -€205 | -100% |
| Total equity and liabilities | 10/49 | €290,058 | €444,600 | +€154,542 | +53.3% |
| Equity | 10/15 | €212,924 | €334,269 | +€121,345 | +57.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €207,924 | €329,269 | +€121,345 | +58.4% |
| Distributable reserves | 133 | €207,924 | €329,269 | +€121,345 | +58.4% |
| Amounts payable | 17/49 | €77,134 | €110,331 | +€33,197 | +43.0% |
| Amounts payable within one year | 42/48 | €77,073 | €110,331 | +€33,258 | +43.2% |
| Trade debts | 44 | €677 | €1,316 | +€639 | +94.4% |
| Suppliers | 440/4 | €677 | €1,316 | +€639 | +94.4% |
| Taxes, remuneration and social security | 45 | €76,396 | €109,015 | +€32,619 | +42.7% |
| Taxes | 450/3 | €76,396 | €109,015 | +€32,619 | +42.7% |
| Accrued charges and deferred income | 492/3 | €61 | €0 | -€61 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €152 | +€152 | |
| Other operating charges | 640/8 | €172 | €528 | +€356 | +207% |
| Gross operating margin | 9900 | €271,224 | €152,738 | -€118,486 | -43.7% |
| Operating profit (loss) | 9901 | €271,052 | €152,059 | -€118,993 | -43.9% |
| Financial income | 75/76B | €205 | €5,920 | +€5,716 | +2,793% |
| Recurring financial income | 75 | €205 | €5,920 | +€5,716 | +2,793% |
| Financial charges | 65/66B | €359 | €2,325 | +€1,966 | +548% |
| Recurring financial charges | 65 | €359 | €2,325 | +€1,966 | +548% |
| Profit (loss) for the period before taxes | 9903 | €270,898 | €155,654 | -€115,244 | -42.5% |
| Income taxes | 67/77 | €62,975 | €34,309 | -€28,666 | -45.5% |
| Profit (loss) for the period | 9904 | €207,924 | €121,345 | -€86,579 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €207,924 | €121,345 | -€86,579 | -41.6% |
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 25 October 2026 via checked.be.