NDC: 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.
NDC
Largest movements
- Stocks and contracts -€160,883
down €160,883 (-39.3%), from €409,011 to €248,128
- Cash -€79,272
down €79,272 (-83.6%), from €94,844 to €15,572
mainly Advances received (-€311,045) and Net result for the year (-€96,726)
- Receivables within one year -€20,366
down €20,366 (-23.4%), from €87,126 to €66,760
of which Trade receivables: -€41,436
- Tangible fixed assets +€9,893
up €9,893 (+51.3%), from €19,301 to €29,195
of which Other tangible fixed assets: +€12,545
- Deferred charges and accrued income -€8,501
down €8,501 (-58.3%), from €14,570 to €6,069
- Advances received -€311,045
down €311,045 (-65.0%), from €478,313 to €167,268
- Trade debts +€109,562
up €109,562 (+81.2%), from €134,922 to €244,484
- Profit (loss) carried forward -€96,726
down €96,726 (-112%), from -€86,379 to -€183,105
- Short-term financial debts +€76,162
new in 2024: €76,162
- Tax, wage and social debts -€69,232
down €69,232 (-69.6%), from €99,454 to €30,223
of which Taxes: -€37,713
- Staff costs -€165,959
down €165,959 (-39.5%), from €420,258 to €254,299
- Gross operating margin -€80,282
down €80,282 (-26.9%), from €298,594 to €218,312
- Financial charges +€17,900
up €17,900 (+68.1%), from €26,290 to €44,190
- Depreciation -€7,199
down €7,199 (-28.7%), from €25,073 to €17,874
- Financial income -€3,617
down €3,617 (-36.3%), from €9,974 to €6,357
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €722,981 | €464,616 | -€258,365 | -35.7% |
| Fixed assets | 21/28 | €46,987 | €54,776 | +€7,790 | +16.6% |
| Intangible fixed assets | 21 | €27,575 | €20,222 | -€7,353 | -26.7% |
| Tangible fixed assets | 22/27 | €19,301 | €29,195 | +€9,893 | +51.3% |
| Plant, machinery and equipment | 23 | €9,651 | €7,816 | -€1,835 | -19.0% |
| Furniture and vehicles | 24 | €3,980 | €3,164 | -€816 | -20.5% |
| Other tangible fixed assets | 26 | €5,669 | €18,214 | +€12,545 | +221% |
| Financial fixed assets | 28 | €110 | €5,360 | +€5,250 | +4,773% |
| Current assets | 29/58 | €675,994 | €409,839 | -€266,155 | -39.4% |
| Amounts receivable after more than one year | 29 | €70,442 | €73,309 | +€2,867 | +4.1% |
| Other amounts receivable | 291 | €70,442 | €73,309 | +€2,867 | +4.1% |
| Stocks and contracts in progress | 3 | €409,011 | €248,128 | -€160,883 | -39.3% |
| Stocks | 30/36 | €409,011 | €248,128 | -€160,883 | -39.3% |
| Amounts receivable within one year | 40/41 | €87,126 | €66,760 | -€20,366 | -23.4% |
| Trade receivables | 40 | €68,637 | €27,200 | -€41,436 | -60.4% |
| Other amounts receivable | 41 | €18,489 | €39,560 | +€21,070 | +114% |
| Cash at bank and in hand | 54/58 | €94,844 | €15,572 | -€79,272 | -83.6% |
| Deferred charges and accrued income | 490/1 | €14,570 | €6,069 | -€8,501 | -58.3% |
| Total equity and liabilities | 10/49 | €722,981 | €464,616 | -€258,365 | -35.7% |
| Equity | 10/15 | -€58,879 | -€155,605 | -€96,726 | -164% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,379 | -€183,105 | -€96,726 | -112% |
| Amounts payable | 17/49 | €781,860 | €620,220 | -€161,640 | -20.7% |
| Amounts payable after more than one year | 17 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Financial debts | 170/4 | €25,000 | €50,000 | +€25,000 | +100.0% |
| Amounts payable within one year | 42/48 | €756,860 | €545,220 | -€211,640 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €42,171 | €27,083 | -€15,087 | -35.8% |
| Financial debts | 43 | - | €76,162 | +€76,162 | |
| Credit institutions | 430/8 | - | €76,162 | +€76,162 | |
| Trade debts | 44 | €134,922 | €244,484 | +€109,562 | +81.2% |
| Suppliers | 440/4 | €134,922 | €244,484 | +€109,562 | +81.2% |
| Advances received on contracts in progress | 46 | €478,313 | €167,268 | -€311,045 | -65.0% |
| Taxes, remuneration and social security | 45 | €99,454 | €30,223 | -€69,232 | -69.6% |
| Taxes | 450/3 | €50,749 | €13,036 | -€37,713 | -74.3% |
| Remuneration and social security | 454/9 | €48,706 | €17,187 | -€31,519 | -64.7% |
| Other amounts payable | 47/48 | €2,000 | €0 | -€2,000 | -100% |
| Accrued charges and deferred income | 492/3 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €420,258 | €254,299 | -€165,959 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,073 | €17,874 | -€7,199 | -28.7% |
| Other operating charges | 640/8 | €3,247 | €1,971 | -€1,275 | -39.3% |
| Non-recurring operating charges | 66A | €2,530 | €0 | -€2,530 | -100% |
| Gross operating margin | 9900 | €298,594 | €218,312 | -€80,282 | -26.9% |
| Operating profit (loss) | 9901 | -€152,514 | -€55,832 | +€96,682 | +63.4% |
| Financial income | 75/76B | €9,974 | €6,357 | -€3,617 | -36.3% |
| Recurring financial income | 75 | €9,974 | €6,357 | -€3,617 | -36.3% |
| Financial charges | 65/66B | €26,290 | €44,190 | +€17,900 | +68.1% |
| Recurring financial charges | 65 | €26,290 | €44,190 | +€17,900 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | -€168,830 | -€93,666 | +€75,164 | +44.5% |
| Income taxes | 67/77 | €920 | €3,060 | +€2,140 | +233% |
| Profit (loss) for the period | 9904 | -€169,750 | -€96,726 | +€73,024 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€169,750 | -€96,726 | +€73,024 | +43.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.