NDC CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets +€124,476
up €124,476 (+28.1%), from €442,793 to €567,269
of which Land and buildings: +€121,479
- Cash -€30,781
down €30,781 (-53.5%), from €57,554 to €26,773
mainly Investment in fixed assets (net) (-€140,449) and Trade debts (-€4,747)
- Receivables within one year -€11,896
down €11,896 (-19.5%), from €60,962 to €49,066
of which Trade receivables: -€26,802
- Debts after one year +€66,454
up €66,454 (+27.4%), from €242,355 to €308,808
- Profit (loss) carried forward +€15,015
up €15,015 (+5.3%), from €284,003 to €299,018
- Gross operating margin -€25,801
down €25,801 (-30.8%), from €83,802 to €58,001
- Financial charges +€5,843
up €5,843 (+134.3%), from €4,349 to €10,193
- Taxes -€5,295
down €5,295 (-28.2%), from €18,761 to €13,465
- Depreciation +€1,280
up €1,280 (+8.7%), from €14,693 to €15,973
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 | €561,512 | €643,311 | +€81,799 | +14.6% |
| Fixed assets | 21/28 | €442,996 | €567,472 | +€124,476 | +28.1% |
| Tangible fixed assets | 22/27 | €442,793 | €567,269 | +€124,476 | +28.1% |
| Land and buildings | 22 | €439,561 | €561,041 | +€121,479 | +27.6% |
| Plant, machinery and equipment | 23 | €602 | €4,598 | +€3,996 | +663.9% |
| Furniture and vehicles | 24 | €2,630 | €1,631 | -€999 | -38.0% |
| Financial fixed assets | 28 | €203 | €203 | = | 0.0% |
| Current assets | 29/58 | €118,516 | €75,839 | -€42,677 | -36.0% |
| Amounts receivable within one year | 40/41 | €60,962 | €49,066 | -€11,896 | -19.5% |
| Trade receivables | 40 | €45,171 | €18,369 | -€26,802 | -59.3% |
| Other amounts receivable | 41 | €15,791 | €30,697 | +€14,906 | +94.4% |
| Cash at bank and in hand | 54/58 | €57,554 | €26,773 | -€30,781 | -53.5% |
| Total equity and liabilities | 10/49 | €561,512 | €643,311 | +€81,799 | +14.6% |
| Equity | 10/15 | €286,203 | €301,218 | +€15,015 | +5.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €284,003 | €299,018 | +€15,015 | +5.3% |
| Amounts payable | 17/49 | €275,309 | €342,094 | +€66,784 | +24.3% |
| Amounts payable after more than one year | 17 | €242,355 | €308,808 | +€66,454 | +27.4% |
| Financial debts | 170/4 | €242,355 | €308,808 | +€66,454 | +27.4% |
| Amounts payable within one year | 42/48 | €32,955 | €33,285 | +€331 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €18,956 | €23,294 | +€4,338 | +22.9% |
| Trade debts | 44 | €6,212 | €1,465 | -€4,747 | -76.4% |
| Suppliers | 440/4 | €6,212 | €1,465 | -€4,747 | -76.4% |
| Taxes, remuneration and social security | 45 | €7,787 | €8,526 | +€740 | +9.5% |
| Taxes | 450/3 | €7,787 | €6,326 | -€1,460 | -18.8% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,693 | €15,973 | +€1,280 | +8.7% |
| Other operating charges | 640/8 | €4,322 | €3,681 | -€641 | -14.8% |
| Gross operating margin | 9900 | €83,802 | €58,001 | -€25,801 | -30.8% |
| Operating profit (loss) | 9901 | €64,787 | €38,347 | -€26,440 | -40.8% |
| Financial income | 75/76B | €434 | €326 | -€108 | -24.9% |
| Recurring financial income | 75 | €434 | €326 | -€108 | -24.9% |
| Financial charges | 65/66B | €4,349 | €10,193 | +€5,843 | +134.3% |
| Recurring financial charges | 65 | €4,349 | €10,193 | +€5,843 | +134.3% |
| Profit (loss) for the period before taxes | 9903 | €60,872 | €28,480 | -€32,392 | -53.2% |
| Income taxes | 67/77 | €18,761 | €13,465 | -€5,295 | -28.2% |
| Profit (loss) for the period | 9904 | €42,111 | €15,015 | -€27,096 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,111 | €15,015 | -€27,096 | -64.3% |
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 3 October 2026 via checked.be.