NDC IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€207,377
down €207,377 (-11.6%), from €1.8m to €1.6m
of which Land and buildings: -€217,981
- Debts after one year -€242,056
down €242,056 (-16.8%), from €1.4m to €1.2m
of which Financial debts: -€244,606
- Revaluation surpluses -€60,042
down €60,042 (-98.3%), from €61,053 to €1,011
- Profit (loss) carried forward +€54,110
up €54,110 (+64.8%), from €83,515 to €137,625
- Current portion of long-term debt +€27,205
up €27,205 (+108.9%), from €24,971 to €52,176
- Other debts +€24,832
up €24,832 (+21.7%), from €114,556 to €139,387
- Gross operating margin +€98,487
up €98,487 (+110.5%), from €89,131 to €187,617
- Depreciation +€35,278
up €35,278 (+161.9%), from €21,794 to €57,072
- Taxes +€22,359
up €22,359 (+392.9%), from €5,691 to €28,050
- Financial charges +€3,460
up €3,460 (+8.7%), from €39,610 to €43,070
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 | €1,837,302 | €1,616,280 | -€221,022 | -12.0% |
| Fixed assets | 21/28 | €1,795,148 | €1,587,770 | -€207,377 | -11.6% |
| Tangible fixed assets | 22/27 | €1,787,766 | €1,580,388 | -€207,377 | -11.6% |
| Land and buildings | 22 | €1,693,025 | €1,475,045 | -€217,981 | -12.9% |
| Plant, machinery and equipment | 23 | €2,682 | €1,424 | -€1,258 | -46.9% |
| Furniture and vehicles | 24 | €4,208 | €16,995 | +€12,787 | +303.9% |
| Other tangible fixed assets | 26 | €87,850 | €86,924 | -€926 | -1.1% |
| Financial fixed assets | 28 | €7,382 | €7,382 | = | 0.0% |
| Current assets | 29/58 | €42,155 | €28,510 | -€13,645 | -32.4% |
| Amounts receivable within one year | 40/41 | €40,448 | €22,100 | -€18,347 | -45.4% |
| Trade receivables | 40 | €39,849 | €21,255 | -€18,594 | -46.7% |
| Other amounts receivable | 41 | €599 | €845 | +€247 | +41.2% |
| Cash at bank and in hand | 54/58 | €1,260 | €2,156 | +€896 | +71.1% |
| Deferred charges and accrued income | 490/1 | €448 | €4,254 | +€3,806 | +850.6% |
| Total equity and liabilities | 10/49 | €1,837,302 | €1,616,280 | -€221,022 | -12.0% |
| Equity | 10/15 | €164,568 | €158,636 | -€5,932 | -3.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €61,053 | €1,011 | -€60,042 | -98.3% |
| Profit (loss) carried forward | 14 | €83,515 | €137,625 | +€54,110 | +64.8% |
| Amounts payable | 17/49 | €1,672,735 | €1,457,644 | -€215,090 | -12.9% |
| Amounts payable after more than one year | 17 | €1,442,582 | €1,200,526 | -€242,056 | -16.8% |
| Financial debts | 170/4 | €1,367,793 | €1,123,186 | -€244,606 | -17.9% |
| Other amounts payable | 178/9 | €74,790 | €77,340 | +€2,550 | +3.4% |
| Amounts payable within one year | 42/48 | €225,936 | €252,252 | +€26,316 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €24,971 | €52,176 | +€27,205 | +108.9% |
| Financial debts | 43 | €2,789 | €17,509 | +€14,720 | +527.7% |
| Credit institutions | 430/8 | €2,789 | €17,509 | +€14,720 | +527.7% |
| Trade debts | 44 | €23,838 | €7,082 | -€16,756 | -70.3% |
| Suppliers | 440/4 | €23,838 | €7,082 | -€16,756 | -70.3% |
| Taxes, remuneration and social security | 45 | €59,782 | €36,097 | -€23,685 | -39.6% |
| Taxes | 450/3 | €59,782 | €36,097 | -€23,685 | -39.6% |
| Other amounts payable | 47/48 | €114,556 | €139,387 | +€24,832 | +21.7% |
| Accrued charges and deferred income | 492/3 | €4,216 | €4,866 | +€650 | +15.4% |
| Non-recurring operating income | 76A | - | €102,292 | +€102,292 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,794 | €57,072 | +€35,278 | +161.9% |
| Other operating charges | 640/8 | €4,990 | €5,316 | +€326 | +6.5% |
| Non-recurring operating charges | 66A | €8,604 | €0 | -€8,604 | -100.0% |
| Gross operating margin | 9900 | €89,131 | €187,617 | +€98,487 | +110.5% |
| Operating profit (loss) | 9901 | €53,743 | €125,229 | +€71,486 | +133.0% |
| Financial income | 75/76B | €246 | €1 | -€245 | -99.5% |
| Recurring financial income | 75 | €246 | €1 | -€245 | -99.5% |
| Financial charges | 65/66B | €39,610 | €43,070 | +€3,460 | +8.7% |
| Recurring financial charges | 65 | €39,610 | €43,070 | +€3,460 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €14,379 | €82,160 | +€67,781 | +471.4% |
| Income taxes | 67/77 | €5,691 | €28,050 | +€22,359 | +392.9% |
| Profit (loss) for the period | 9904 | €8,688 | €54,110 | +€45,422 | +522.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,688 | €54,110 | +€45,422 | +522.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.