NDC Art: 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 Art
Largest movements
- Receivables within one year +€78,525
up €78,525 (+335%), from €23,429 to €101,954
of which Trade receivables: +€72,600
- Cash -€34,205
down €34,205 (-10.4%), from €327,764 to €293,559
mainly Receivables within one year (-€78,525) and Stocks and contracts (-€2,296)
- Other debts +€23,680
up €23,680 (+13.6%), from €173,746 to €197,426
- Tax, wage and social debts +€11,237
up €11,237 (+642%), from €1,750 to €12,987
- Reserves +€7,161
up €7,161 (+3.7%), from €194,003 to €201,164
of which Distributable reserves: +€7,161
- Gross operating margin -€19,176
down €19,176 (-49.3%), from €38,877 to €19,700
- Taxes -€10,203
down €10,203 (-78.9%), from €12,924 to €2,721
- Financial charges +€7,211
up €7,211 (+6,534%), from €110 to €7,321
- Financial income -€3,872
down €3,872 (-100%), from €3,872 to €0
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 | €396,158 | €441,449 | +€45,291 | +11.4% |
| Fixed assets | 21/28 | €14,041 | €12,138 | -€1,903 | -13.6% |
| Tangible fixed assets | 22/27 | €14,041 | €12,138 | -€1,903 | -13.6% |
| Furniture and vehicles | 24 | €14,041 | €12,138 | -€1,903 | -13.6% |
| Current assets | 29/58 | €382,117 | €429,311 | +€47,194 | +12.4% |
| Stocks and contracts in progress | 3 | €30,688 | €32,984 | +€2,296 | +7.5% |
| Stocks | 30/36 | €30,688 | €32,984 | +€2,296 | +7.5% |
| Amounts receivable within one year | 40/41 | €23,429 | €101,954 | +€78,525 | +335% |
| Trade receivables | 40 | - | €72,600 | +€72,600 | |
| Other amounts receivable | 41 | €23,429 | €29,354 | +€5,925 | +25.3% |
| Cash at bank and in hand | 54/58 | €327,764 | €293,559 | -€34,205 | -10.4% |
| Deferred charges and accrued income | 490/1 | €236 | €814 | +€578 | +245% |
| Total equity and liabilities | 10/49 | €396,158 | €441,449 | +€45,291 | +11.4% |
| Equity | 10/15 | €214,567 | €221,728 | +€7,161 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,003 | €201,164 | +€7,161 | +3.7% |
| Non-distributable reserves | 130/1 | €1,564 | €1,564 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,564 | €1,564 | = | 0.0% |
| Distributable reserves | 133 | €192,438 | €199,599 | +€7,161 | +3.7% |
| Profit (loss) carried forward | 14 | €1,964 | €1,964 | = | 0.0% |
| Amounts payable | 17/49 | €181,591 | €219,721 | +€38,130 | +21.0% |
| Amounts payable within one year | 42/48 | €179,591 | €217,721 | +€38,130 | +21.2% |
| Trade debts | 44 | €4,095 | €7,308 | +€3,213 | +78.5% |
| Suppliers | 440/4 | €4,095 | €7,308 | +€3,213 | +78.5% |
| Taxes, remuneration and social security | 45 | €1,750 | €12,987 | +€11,237 | +642% |
| Taxes | 450/3 | €1,750 | €12,987 | +€11,237 | +642% |
| Other amounts payable | 47/48 | €173,746 | €197,426 | +€23,680 | +13.6% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,903 | €1,903 | = | 0.0% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €38,877 | €19,700 | -€19,176 | -49.3% |
| Operating profit (loss) | 9901 | €36,397 | €17,204 | -€19,193 | -52.7% |
| Financial income | 75/76B | €3,872 | €0 | -€3,872 | -100% |
| Recurring financial income | 75 | €3,872 | €0 | -€3,872 | -100% |
| Financial charges | 65/66B | €110 | €7,321 | +€7,211 | +6,534% |
| Recurring financial charges | 65 | €110 | €7,321 | +€7,211 | +6,534% |
| Profit (loss) for the period before taxes | 9903 | €40,158 | €9,883 | -€30,276 | -75.4% |
| Income taxes | 67/77 | €12,924 | €2,721 | -€10,203 | -78.9% |
| Profit (loss) for the period | 9904 | €27,234 | €7,161 | -€20,073 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,234 | €7,161 | -€20,073 | -73.7% |
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 22 October 2026 via checked.be.