NDB DIFFUSION: 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.
NDB DIFFUSION
Largest movements
- Intangible fixed assets +€1.9m
new in 2025: €1.9m
- Stocks and contracts +€237,123
new in 2025: €237,123
- Cash -€106,263
down €106,263 (-26.2%), from €406,078 to €299,815
mainly Investment in fixed assets (net) (-€2.1m) and Stocks and contracts (-€237,123)
- Receivables within one year +€67,899
up €67,899 (+221%), from €30,774 to €98,673
of which Other amounts receivable: +€55,330
- Financial fixed assets +€49,975
up €49,975 (+199,900%), from €25 to €50,000
- Debts after one year +€1.6m
new in 2025: €1.6m
- Trade debts +€473,515
up €473,515 (+18,305%), from €2,587 to €476,101
- Current portion of long-term debt +€169,435
new in 2025: €169,435
- Short-term financial debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€92,019
down €92,019 (-54.6%), from €168,437 to €76,417
- Staff costs +€147,214
new in 2025: €147,214
- Gross operating margin -€66,712
down €66,712 (-28.2%), from €236,961 to €170,249
- Depreciation +€65,161
up €65,161 (+974%), from €6,688 to €71,849
- Taxes -€58,750
down €58,750 (-99.6%), from €59,014 to €264
- Financial charges +€29,604
up €29,604 (+477%), from €6,208 to €35,811
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 | €456,989 | €2,717,401 | +€2.3m | +495% |
| Fixed assets | 21/28 | €6,996 | €1,999,149 | +€2.0m | +28,476% |
| Intangible fixed assets | 21 | - | €1,921,490 | +€1.9m | |
| Tangible fixed assets | 22/27 | €6,971 | €27,659 | +€20,688 | +297% |
| Plant, machinery and equipment | 23 | - | €26,696 | +€26,696 | |
| Furniture and vehicles | 24 | €4,647 | €962 | -€3,684 | -79.3% |
| Other tangible fixed assets | 26 | €2,324 | - | -€2,324 | |
| Financial fixed assets | 28 | €25 | €50,000 | +€49,975 | +199,900% |
| Current assets | 29/58 | €449,993 | €718,252 | +€268,259 | +59.6% |
| Amounts receivable after more than one year | 29 | - | €40,033 | +€40,033 | |
| Other amounts receivable | 291 | - | €40,033 | +€40,033 | |
| Stocks and contracts in progress | 3 | - | €237,123 | +€237,123 | |
| Stocks | 30/36 | - | €237,123 | +€237,123 | |
| Amounts receivable within one year | 40/41 | €30,774 | €98,673 | +€67,899 | +221% |
| Trade receivables | 40 | €4,050 | €16,619 | +€12,569 | +310% |
| Other amounts receivable | 41 | €26,723 | €82,054 | +€55,330 | +207% |
| Cash at bank and in hand | 54/58 | €406,078 | €299,815 | -€106,263 | -26.2% |
| Deferred charges and accrued income | 490/1 | €13,141 | €42,609 | +€29,468 | +224% |
| Total equity and liabilities | 10/49 | €456,989 | €2,717,401 | +€2.3m | +495% |
| Equity | 10/15 | €354,198 | €262,179 | -€92,019 | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,161 | €167,161 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €165,301 | €165,301 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,437 | €76,417 | -€92,019 | -54.6% |
| Amounts payable | 17/49 | €102,791 | €2,455,222 | +€2.4m | +2,289% |
| Amounts payable after more than one year | 17 | - | €1,589,340 | +€1.6m | |
| Financial debts | 170/4 | - | €1,589,340 | +€1.6m | |
| Amounts payable within one year | 42/48 | €97,458 | €831,829 | +€734,371 | +754% |
| Current portion of amounts payable after more than one year | 42 | - | €169,435 | +€169,435 | |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €2,587 | €476,101 | +€473,515 | +18,305% |
| Suppliers | 440/4 | €2,587 | €476,101 | +€473,515 | +18,305% |
| Taxes, remuneration and social security | 45 | €92,722 | €86,293 | -€6,428 | -6.9% |
| Taxes | 450/3 | €92,722 | €59,867 | -€32,855 | -35.4% |
| Remuneration and social security | 454/9 | - | €26,427 | +€26,427 | |
| Other amounts payable | 47/48 | €2,150 | - | -€2,150 | |
| Accrued charges and deferred income | 492/3 | €5,332 | €34,053 | +€28,721 | +539% |
| Remuneration, social security and pensions | 62 | - | €147,214 | +€147,214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,688 | €71,849 | +€65,161 | +974% |
| Other operating charges | 640/8 | €4,032 | €10,448 | +€6,416 | +159% |
| Gross operating margin | 9900 | €236,961 | €170,249 | -€66,712 | -28.2% |
| Operating profit (loss) | 9901 | €226,241 | -€59,262 | -€285,503 | |
| Financial income | 75/76B | €7,417 | €3,318 | -€4,099 | -55.3% |
| Recurring financial income | 75 | €7,417 | €3,318 | -€4,099 | -55.3% |
| Financial charges | 65/66B | €6,208 | €35,811 | +€29,604 | +477% |
| Recurring financial charges | 65 | €6,208 | €35,811 | +€29,604 | +477% |
| Profit (loss) for the period before taxes | 9903 | €227,451 | -€91,755 | -€319,206 | |
| Income taxes | 67/77 | €59,014 | €264 | -€58,750 | -99.6% |
| Profit (loss) for the period | 9904 | €168,437 | -€92,019 | -€260,456 | |
| Profit (loss) for the period to be appropriated | 9905 | €168,437 | -€92,019 | -€260,456 |
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 13 October 2026 via checked.be.