NDG Construct: 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.
NDG Construct
Largest movements
- Cash +€25,644
up €25,644 (+265.1%), from €9,672 to €35,316
mainly Net result for the year (+€25,072) and Receivables within one year (+€9,278)
- Receivables within one year -€9,278
down €9,278 (-49.6%), from €18,689 to €9,411
- Reserves +€25,072
up €25,072 (+49.7%), from €50,477 to €75,548
- Tax, wage and social debts -€9,012
down €9,012 (-35.4%), from €25,428 to €16,416
of which Taxes: -€11,420
- Gross operating margin -€6,790
down €6,790 (-17.2%), from €39,479 to €32,689
- Taxes -€1,387
down €1,387 (-17.1%), from €8,115 to €6,728
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 | €77,846 | €94,477 | +€16,631 | +21.4% |
| Current assets | 29/58 | €77,846 | €94,477 | +€16,631 | +21.4% |
| Amounts receivable within one year | 40/41 | €18,689 | €9,411 | -€9,278 | -49.6% |
| Trade receivables | 40 | €18,689 | €9,411 | -€9,278 | -49.6% |
| Current investments | 50/53 | €49,396 | €49,750 | +€354 | +0.7% |
| Cash at bank and in hand | 54/58 | €9,672 | €35,316 | +€25,644 | +265.1% |
| Deferred charges and accrued income | 490/1 | €90 | €0 | -€90 | -100.0% |
| Total equity and liabilities | 10/49 | €77,846 | €94,477 | +€16,631 | +21.4% |
| Equity | 10/15 | €51,977 | €77,048 | +€25,072 | +48.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €50,477 | €75,548 | +€25,072 | +49.7% |
| Distributable reserves | 133 | €50,477 | €75,548 | +€25,072 | +49.7% |
| Amounts payable | 17/49 | €25,870 | €17,429 | -€8,441 | -32.6% |
| Amounts payable within one year | 42/48 | €25,870 | €17,429 | -€8,441 | -32.6% |
| Trade debts | 44 | €14 | €688 | +€674 | +4766.2% |
| Suppliers | 440/4 | €14 | €688 | +€674 | +4766.2% |
| Taxes, remuneration and social security | 45 | €25,428 | €16,416 | -€9,012 | -35.4% |
| Taxes | 450/3 | €25,428 | €14,008 | -€11,420 | -44.9% |
| Remuneration and social security | 454/9 | - | €2,408 | +€2,408 | |
| Other amounts payable | 47/48 | €428 | €325 | -€102 | -23.9% |
| Other operating charges | 640/8 | €63 | €375 | +€312 | +494.2% |
| Gross operating margin | 9900 | €39,479 | €32,689 | -€6,790 | -17.2% |
| Operating profit (loss) | 9901 | €39,416 | €32,314 | -€7,102 | -18.0% |
| Financial income | 75/76B | €135 | €0 | -€135 | -100.0% |
| Recurring financial income | 75 | €135 | €0 | -€135 | -100.0% |
| Financial charges | 65/66B | €831 | €514 | -€317 | -38.2% |
| Recurring financial charges | 65 | €831 | €514 | -€317 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €38,719 | €31,800 | -€6,920 | -17.9% |
| Income taxes | 67/77 | €8,115 | €6,728 | -€1,387 | -17.1% |
| Profit (loss) for the period | 9904 | €30,604 | €25,072 | -€5,532 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,604 | €25,072 | -€5,532 | -18.1% |
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 4 October 2026 via checked.be.