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 +€52,265
up €52,265 (+178.7%), from €29,252 to €81,518
mainly Net result for the year (+€40,588) and Depreciation (+€10,723)
- Tangible fixed assets -€6,850
down €6,850 (-18.4%), from €37,217 to €30,367
- Receivables within one year -€2,468
down €2,468 (-36.9%), from €6,694 to €4,227
of which Trade receivables: -€6,694
- Profit (loss) carried forward +€40,588
up €40,588 (+67.1%), from €60,460 to €101,048
- Other debts +€9,047
up €9,047 (+313.7%), from €2,884 to €11,931
- Tax, wage and social debts -€7,213
down €7,213 (-92.8%), from €7,774 to €561
of which Remuneration and social security: -€4,000
- Gross operating margin -€22,472
down €22,472 (-26.2%), from €85,657 to €63,184
- Taxes -€3,420
down €3,420 (-22.5%), from €15,194 to €11,773
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 | €75,127 | €117,590 | +€42,464 | +56.5% |
| Formation expenses | 20 | €1,241 | €976 | -€266 | -21.4% |
| Fixed assets | 21/28 | €37,217 | €30,367 | -€6,850 | -18.4% |
| Tangible fixed assets | 22/27 | €37,217 | €30,367 | -€6,850 | -18.4% |
| Furniture and vehicles | 24 | €37,217 | €30,367 | -€6,850 | -18.4% |
| Current assets | 29/58 | €36,669 | €86,248 | +€49,579 | +135.2% |
| Amounts receivable within one year | 40/41 | €6,694 | €4,227 | -€2,468 | -36.9% |
| Trade receivables | 40 | €6,694 | €0 | -€6,694 | -100.0% |
| Other amounts receivable | 41 | - | €4,227 | +€4,227 | |
| Cash at bank and in hand | 54/58 | €29,252 | €81,518 | +€52,265 | +178.7% |
| Deferred charges and accrued income | 490/1 | €722 | €503 | -€219 | -30.3% |
| Total equity and liabilities | 10/49 | €75,127 | €117,590 | +€42,464 | +56.5% |
| Equity | 10/15 | €64,460 | €105,048 | +€40,588 | +63.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,460 | €101,048 | +€40,588 | +67.1% |
| Amounts payable | 17/49 | €10,667 | €12,542 | +€1,875 | +17.6% |
| Amounts payable within one year | 42/48 | €10,667 | €12,542 | +€1,875 | +17.6% |
| Trade debts | 44 | €9 | €50 | +€42 | +487.0% |
| Suppliers | 440/4 | €9 | €50 | +€42 | +487.0% |
| Taxes, remuneration and social security | 45 | €7,774 | €561 | -€7,213 | -92.8% |
| Taxes | 450/3 | €3,774 | €561 | -€3,213 | -85.1% |
| Remuneration and social security | 454/9 | €4,000 | €0 | -€4,000 | -100.0% |
| Other amounts payable | 47/48 | €2,884 | €11,931 | +€9,047 | +313.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,995 | €10,723 | +€728 | +7.3% |
| Gross operating margin | 9900 | €85,657 | €63,184 | -€22,472 | -26.2% |
| Operating profit (loss) | 9901 | €75,661 | €52,461 | -€23,201 | -30.7% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €7 | €109 | +€102 | +1391.5% |
| Recurring financial charges | 65 | €7 | €109 | +€102 | +1391.5% |
| Profit (loss) for the period before taxes | 9903 | €75,654 | €52,362 | -€23,293 | -30.8% |
| Income taxes | 67/77 | €15,194 | €11,773 | -€3,420 | -22.5% |
| Profit (loss) for the period | 9904 | €60,460 | €40,588 | -€19,872 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,460 | €40,588 | -€19,872 | -32.9% |
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 7 October 2026 via checked.be.