NDCMS: 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.
NDCMS
Largest movements
- Tangible fixed assets -€118,553
down €118,553 (-10.0%), from €1.2m to €1.1m
of which Land and buildings: -€77,231
- Cash +€47,545
up €47,545 (+16.6%), from €286,786 to €334,331
mainly Net result for the year (+€392,904) and Depreciation (+€122,905)
- Other debts -€306,973
down €306,973 (-36.2%), from €848,479 to €541,506
- Reserves +€129,164
up €129,164 (+20.4%), from €633,111 to €762,274
of which Distributable reserves: +€129,164
- Tax, wage and social debts +€102,340
up €102,340 (+255.9%), from €39,986 to €142,326
- Gross operating margin +€288,559
up €288,559 (+70.3%), from €410,436 to €698,995
- Taxes +€92,971
up €92,971 (+104.9%), from €88,667 to €181,638
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 | €1,542,966 | €1,467,132 | -€75,834 | -4.9% |
| Fixed assets | 21/28 | €1,190,015 | €1,071,462 | -€118,553 | -10.0% |
| Tangible fixed assets | 22/27 | €1,190,015 | €1,071,462 | -€118,553 | -10.0% |
| Land and buildings | 22 | €1,069,210 | €991,979 | -€77,231 | -7.2% |
| Plant, machinery and equipment | 23 | €1,346 | €952 | -€394 | -29.3% |
| Furniture and vehicles | 24 | €112,959 | €72,032 | -€40,928 | -36.2% |
| Other tangible fixed assets | 26 | €6,500 | €6,500 | = | 0.0% |
| Current assets | 29/58 | €352,951 | €395,670 | +€42,719 | +12.1% |
| Amounts receivable within one year | 40/41 | €61,775 | €56,710 | -€5,065 | -8.2% |
| Trade receivables | 40 | €54,316 | €56,372 | +€2,056 | +3.8% |
| Other amounts receivable | 41 | €7,458 | €338 | -€7,120 | -95.5% |
| Cash at bank and in hand | 54/58 | €286,786 | €334,331 | +€47,545 | +16.6% |
| Deferred charges and accrued income | 490/1 | €4,390 | €4,629 | +€239 | +5.4% |
| Total equity and liabilities | 10/49 | €1,542,966 | €1,467,132 | -€75,834 | -4.9% |
| Equity | 10/15 | €645,511 | €774,674 | +€129,164 | +20.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €633,111 | €762,274 | +€129,164 | +20.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €633,111 | €762,274 | +€129,164 | +20.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €897,455 | €692,458 | -€204,998 | -22.8% |
| Amounts payable within one year | 42/48 | €896,205 | €691,208 | -€204,998 | -22.9% |
| Trade debts | 44 | €7,741 | €7,376 | -€365 | -4.7% |
| Suppliers | 440/4 | €7,741 | €7,376 | -€365 | -4.7% |
| Taxes, remuneration and social security | 45 | €39,986 | €142,326 | +€102,340 | +255.9% |
| Taxes | 450/3 | €39,986 | €142,326 | +€102,340 | +255.9% |
| Other amounts payable | 47/48 | €848,479 | €541,506 | -€306,973 | -36.2% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,509 | €122,905 | +€1,396 | +1.1% |
| Other operating charges | 640/8 | €2,619 | €2,596 | -€24 | -0.9% |
| Non-recurring operating charges | 66A | - | €222 | +€222 | |
| Gross operating margin | 9900 | €410,436 | €698,995 | +€288,559 | +70.3% |
| Operating profit (loss) | 9901 | €286,308 | €573,273 | +€286,965 | +100.2% |
| Financial income | 75/76B | €1,055 | €1,394 | +€338 | +32.1% |
| Recurring financial income | 75 | €1,055 | €1,394 | +€338 | +32.1% |
| Financial charges | 65/66B | €269 | €125 | -€144 | -53.6% |
| Recurring financial charges | 65 | €269 | €125 | -€144 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | €287,094 | €574,542 | +€287,447 | +100.1% |
| Income taxes | 67/77 | €88,667 | €181,638 | +€92,971 | +104.9% |
| Profit (loss) for the period | 9904 | €198,428 | €392,904 | +€194,477 | +98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €198,428 | €392,904 | +€194,477 | +98.0% |
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.