NDC: 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.
NDC
Largest movements
- Cash +€13,778
up €13,778 (+114.6%), from €12,025 to €25,803
mainly Net result for the year (+€25,598) and Depreciation (+€10,984)
- Tangible fixed assets -€10,984
down €10,984 (-31.5%), from €34,910 to €23,926
of which Leasing and similar rights: -€9,192
- Receivables within one year +€1,994
up €1,994 (+9.6%), from €20,727 to €22,722
of which Other amounts receivable: +€4,690
- Deferred charges and accrued income +€1,916
up €1,916 (+200.6%), from €955 to €2,871
- Reserves +€25,598
up €25,598 (+76.9%), from €33,301 to €58,899
- Tax, wage and social debts -€9,089
down €9,089 (-67.3%), from €13,498 to €4,408
of which Remuneration and social security: -€7,500
- Debts after one year -€7,182
down €7,182 (-41.7%), from €17,229 to €10,047
- Other debts -€2,275
no longer reported in 2025 (was €2,275)
- Gross operating margin +€39,178
up €39,178 (+674.8%), from €5,806 to €44,984
- Taxes +€5,298
up €5,298 (+3582.3%), from €148 to €5,445
- Depreciation -€676
down €676 (-5.8%), from €11,659 to €10,984
- Financial charges -€604
down €604 (-27.1%), from €2,228 to €1,624
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 | €79,040 | €85,744 | +€6,704 | +8.5% |
| Fixed assets | 21/28 | €34,910 | €23,926 | -€10,984 | -31.5% |
| Tangible fixed assets | 22/27 | €34,910 | €23,926 | -€10,984 | -31.5% |
| Plant, machinery and equipment | 23 | €2,300 | €1,639 | -€661 | -28.7% |
| Furniture and vehicles | 24 | €1,518 | €387 | -€1,131 | -74.5% |
| Leasing and similar rights | 25 | €31,091 | €21,900 | -€9,192 | -29.6% |
| Current assets | 29/58 | €44,130 | €61,818 | +€17,688 | +40.1% |
| Stocks and contracts in progress | 3 | €10,423 | €10,423 | = | 0.0% |
| Stocks | 30/36 | €10,423 | €10,423 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,727 | €22,722 | +€1,994 | +9.6% |
| Trade receivables | 40 | €19,034 | €16,338 | -€2,695 | -14.2% |
| Other amounts receivable | 41 | €1,694 | €6,384 | +€4,690 | +276.9% |
| Cash at bank and in hand | 54/58 | €12,025 | €25,803 | +€13,778 | +114.6% |
| Deferred charges and accrued income | 490/1 | €955 | €2,871 | +€1,916 | +200.6% |
| Total equity and liabilities | 10/49 | €79,040 | €85,744 | +€6,704 | +8.5% |
| Equity | 10/15 | €38,301 | €63,899 | +€25,598 | +66.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,301 | €58,899 | +€25,598 | +76.9% |
| Distributable reserves | 133 | €33,301 | €58,899 | +€25,598 | +76.9% |
| Amounts payable | 17/49 | €40,739 | €21,846 | -€18,894 | -46.4% |
| Amounts payable after more than one year | 17 | €17,229 | €10,047 | -€7,182 | -41.7% |
| Financial debts | 170/4 | €17,229 | €10,047 | -€7,182 | -41.7% |
| Amounts payable within one year | 42/48 | €23,511 | €11,799 | -€11,712 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | €6,893 | €7,182 | +€289 | +4.2% |
| Trade debts | 44 | €846 | €209 | -€637 | -75.3% |
| Suppliers | 440/4 | €846 | €209 | -€637 | -75.3% |
| Taxes, remuneration and social security | 45 | €13,498 | €4,408 | -€9,089 | -67.3% |
| Taxes | 450/3 | €5,998 | €4,408 | -€1,589 | -26.5% |
| Remuneration and social security | 454/9 | €7,500 | - | -€7,500 | |
| Other amounts payable | 47/48 | €2,275 | - | -€2,275 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,659 | €10,984 | -€676 | -5.8% |
| Other operating charges | 640/8 | €1,390 | €1,364 | -€26 | -1.9% |
| Gross operating margin | 9900 | €5,806 | €44,984 | +€39,178 | +674.8% |
| Operating profit (loss) | 9901 | -€7,243 | €32,637 | +€39,880 | |
| Financial income | 75/76B | €9 | €30 | +€21 | +244.6% |
| Recurring financial income | 75 | €9 | €30 | +€21 | +244.6% |
| Financial charges | 65/66B | €2,228 | €1,624 | -€604 | -27.1% |
| Recurring financial charges | 65 | €2,228 | €1,624 | -€604 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,462 | €31,043 | +€40,506 | |
| Income taxes | 67/77 | €148 | €5,445 | +€5,298 | +3582.3% |
| Profit (loss) for the period | 9904 | -€9,610 | €25,598 | +€35,208 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,610 | €25,598 | +€35,208 |
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 1 October 2026 via checked.be.