NDJ Projects: what changed
Two financial 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.
NDJ Projects
Largest movements
- Tangible fixed assets +€214,320
up €214,320 (+171%), from €125,508 to €339,828
of which Land and buildings: +€111,560
- Receivables within one year +€57,685
up €57,685 (+2,319%), from €2,487 to €60,172
of which Other amounts receivable: +€51,098
- Cash +€35,682
up €35,682 (+1,750%), from €2,039 to €37,720
mainly Other debts (+€250,723) and Trade debts (+€47,583)
- Other debts +€250,723
up €250,723 (+386%), from €64,944 to €315,668
- Trade debts +€47,583
up €47,583 (+614%), from €7,744 to €55,327
- Profit (loss) carried forward +€34,136
up €34,136 (+28.3%), from -€120,459 to -€86,322
- Debts after one year -€25,411
down €25,411 (-31.2%), from €81,364 to €55,953
- Gross operating margin +€28,701
up €28,701 (+105%), from €27,262 to €55,963
- Depreciation -€14,929
down €14,929 (-43.9%), from €34,003 to €19,075
- Financial income +€7,514
new in 2025: €7,514
of which Non-recurring financial income: +€7,500
- Financial charges +€3,717
up €3,717 (+77.0%), from €4,825 to €8,541
of which Non-recurring financial charges: +€5,336
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.
Derived cash bridge
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 | €130,034 | €437,720 | +€307,686 | +237% |
| Fixed assets | 21/28 | €125,508 | €339,828 | +€214,320 | +171% |
| Tangible fixed assets | 22/27 | €125,508 | €339,828 | +€214,320 | +171% |
| Land and buildings | 22 | €24,805 | €136,365 | +€111,560 | +450% |
| Plant, machinery and equipment | 23 | €1,693 | €90,626 | +€88,933 | +5,252% |
| Furniture and vehicles | 24 | €99,010 | €112,836 | +€13,826 | +14.0% |
| Current assets | 29/58 | €4,526 | €97,892 | +€93,366 | +2,063% |
| Amounts receivable within one year | 40/41 | €2,487 | €60,172 | +€57,685 | +2,319% |
| Trade receivables | 40 | €500 | €7,087 | +€6,587 | +1,317% |
| Other amounts receivable | 41 | €1,987 | €53,085 | +€51,098 | +2,571% |
| Cash at bank and in hand | 54/58 | €2,039 | €37,720 | +€35,682 | +1,750% |
| Total equity and liabilities | 10/49 | €130,034 | €437,720 | +€307,686 | +237% |
| Equity | 10/15 | -€48,899 | -€14,762 | +€34,136 | +69.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,360 | €65,360 | = | 0.0% |
| Distributable reserves | 133 | €65,360 | €65,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,459 | -€86,322 | +€34,136 | +28.3% |
| Amounts payable | 17/49 | €178,932 | €452,482 | +€273,550 | +153% |
| Amounts payable after more than one year | 17 | €81,364 | €55,953 | -€25,411 | -31.2% |
| Financial debts | 170/4 | €81,364 | €55,953 | -€25,411 | -31.2% |
| Amounts payable within one year | 42/48 | €97,568 | €396,529 | +€298,961 | +306% |
| Current portion of amounts payable after more than one year | 42 | €24,880 | €25,534 | +€655 | +2.6% |
| Trade debts | 44 | €7,744 | €55,327 | +€47,583 | +614% |
| Suppliers | 440/4 | €7,744 | €55,327 | +€47,583 | +614% |
| Other amounts payable | 47/48 | €64,944 | €315,668 | +€250,723 | +386% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,003 | €19,075 | -€14,929 | -43.9% |
| Other operating charges | 640/8 | €1,773 | €1,725 | -€48 | -2.7% |
| Gross operating margin | 9900 | €27,262 | €55,963 | +€28,701 | +105% |
| Operating profit (loss) | 9901 | -€8,515 | €35,163 | +€43,678 | |
| Financial income | 75/76B | - | €7,514 | +€7,514 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Non-recurring financial income | 76B | - | €7,500 | +€7,500 | |
| Financial charges | 65/66B | €4,825 | €8,541 | +€3,717 | +77.0% |
| Recurring financial charges | 65 | €4,825 | €3,206 | -€1,619 | -33.6% |
| Non-recurring financial charges | 66B | - | €5,336 | +€5,336 | |
| Profit (loss) for the period before taxes | 9903 | -€13,339 | €34,136 | +€47,476 | |
| Income taxes | 67/77 | €100 | - | -€100 | |
| Profit (loss) for the period | 9904 | -€13,439 | €34,136 | +€47,576 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,439 | €34,136 | +€47,576 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.