NDE: 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.
NDE
Largest movements
- Tangible fixed assets -€10,128
down €10,128 (-33.7%), from €30,051 to €19,923
of which Furniture and vehicles: -€9,703
- Stocks and contracts +€9,217
up €9,217 (+89.2%), from €10,336 to €19,553
- Receivables within one year -€3,825
down €3,825 (-4.9%), from €77,496 to €73,671
of which Other amounts receivable: -€7,823
- Debts after one year -€8,883
down €8,883 (-49.2%), from €18,067 to €9,184
- Accrued charges and deferred income +€7,785
new in 2025: €7,785
- Tax, wage and social debts -€7,411
down €7,411 (-77.6%), from €9,544 to €2,133
- Reserves +€4,000
up €4,000 (+33.6%), from €11,900 to €15,900
of which Distributable reserves: +€4,000
- Short-term financial debts -€2,509
down €2,509 (-12.5%), from €20,128 to €17,619
- Gross operating margin +€1,858
up €1,858 (+10.0%), from €18,551 to €20,409
- Financial income -€943
down €943 (-37.0%), from €2,549 to €1,607
of which Financial income: -€551
- Financial charges +€604
up €604 (+17.9%), from €3,364 to €3,967
of which Financial charges: +€762
- Taxes +€401
up €401 (+18.8%), from €2,133 to €2,534
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 | €119,609 | €115,464 | -€4,146 | -3.5% |
| Fixed assets | 21/28 | €30,601 | €20,473 | -€10,128 | -33.1% |
| Tangible fixed assets | 22/27 | €30,051 | €19,923 | -€10,128 | -33.7% |
| Plant, machinery and equipment | 23 | €1,037 | €612 | -€425 | -41.0% |
| Furniture and vehicles | 24 | €29,013 | €19,310 | -€9,703 | -33.4% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €89,009 | €94,991 | +€5,982 | +6.7% |
| Stocks and contracts in progress | 3 | €10,336 | €19,553 | +€9,217 | +89.2% |
| Stocks | 30/36 | €10,336 | €19,553 | +€9,217 | +89.2% |
| Amounts receivable within one year | 40/41 | €77,496 | €73,671 | -€3,825 | -4.9% |
| Trade receivables | 40 | €41,216 | €45,214 | +€3,998 | +9.7% |
| Other amounts receivable | 41 | €36,280 | €28,457 | -€7,823 | -21.6% |
| Cash at bank and in hand | 54/58 | €13 | €2 | -€12 | -88.1% |
| Deferred charges and accrued income | 490/1 | €1,163 | €1,766 | +€603 | +51.8% |
| Total equity and liabilities | 10/49 | €119,609 | €115,464 | -€4,146 | -3.5% |
| Equity | 10/15 | €38,807 | €43,216 | +€4,409 | +11.4% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €11,900 | €15,900 | +€4,000 | +33.6% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €14,000 | +€4,000 | +40.0% |
| Profit (loss) carried forward | 14 | €13,907 | €14,316 | +€409 | +2.9% |
| Amounts payable | 17/49 | €80,803 | €72,248 | -€8,555 | -10.6% |
| Amounts payable after more than one year | 17 | €18,067 | €9,184 | -€8,883 | -49.2% |
| Financial debts | 170/4 | €18,067 | €9,184 | -€8,883 | -49.2% |
| Amounts payable within one year | 42/48 | €62,736 | €55,278 | -€7,458 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €8,590 | €8,883 | +€292 | +3.4% |
| Financial debts | 43 | €20,128 | €17,619 | -€2,509 | -12.5% |
| Credit institutions | 430/8 | €20,128 | €17,619 | -€2,509 | -12.5% |
| Trade debts | 44 | €24,474 | €26,644 | +€2,170 | +8.9% |
| Suppliers | 440/4 | €24,474 | €26,644 | +€2,170 | +8.9% |
| Taxes, remuneration and social security | 45 | €9,544 | €2,133 | -€7,411 | -77.6% |
| Taxes | 450/3 | €9,544 | €2,133 | -€7,411 | -77.6% |
| Accrued charges and deferred income | 492/3 | - | €7,785 | +€7,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,148 | €10,128 | -€19 | -0.2% |
| Other operating charges | 640/8 | €1,131 | €977 | -€154 | -13.6% |
| Gross operating margin | 9900 | €18,551 | €20,409 | +€1,858 | +10.0% |
| Operating profit (loss) | 9901 | €7,272 | €9,304 | +€2,032 | +27.9% |
| Financial income | 75/76B | €2,549 | €1,607 | -€943 | -37.0% |
| Recurring financial income | 75 | €2,157 | €1,607 | -€551 | -25.5% |
| Non-recurring financial income | 76B | €392 | - | -€392 | |
| Financial charges | 65/66B | €3,364 | €3,967 | +€604 | +17.9% |
| Recurring financial charges | 65 | €3,205 | €3,967 | +€762 | +23.8% |
| Non-recurring financial charges | 66B | €158 | - | -€158 | |
| Profit (loss) for the period before taxes | 9903 | €6,458 | €6,943 | +€485 | +7.5% |
| Income taxes | 67/77 | €2,133 | €2,534 | +€401 | +18.8% |
| Profit (loss) for the period | 9904 | €4,325 | €4,409 | +€85 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,325 | €4,409 | +€85 | +2.0% |
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 29 September 2026 via checked.be.