NDL IBD: 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.
NDL IBD
Largest movements
- Cash +€7,593
up €7,593 (+1524.6%), from €498 to €8,091
mainly Net result for the year (+€11,017) and Other debts (+€1,364)
- Deferred charges and accrued income +€5,831
up €5,831 (+452.8%), from €1,288 to €7,119
- Receivables within one year +€832
new in 2025: €832
- Formation expenses -€580
down €580 (-20.7%), from €2,806 to €2,226
- Profit (loss) carried forward +€11,017
up €11,017 (+3101.3%), from €355 to €11,372
- Other debts +€1,364
up €1,364 (+84.8%), from €1,609 to €2,973
- Tax, wage and social debts +€925
up €925 (+723.2%), from €128 to €1,053
- Accrued charges and deferred income +€370
new in 2025: €370
- Gross operating margin +€14,086
up €14,086 (+2193.9%), from €642 to €14,728
- Taxes +€2,925
up €2,925 (+2286.6%), from €128 to €3,053
- Depreciation +€484
up €484 (+505.1%), from €96 to €580
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 | €4,592 | €18,267 | +€13,676 | +297.8% |
| Formation expenses | 20 | €2,806 | €2,226 | -€580 | -20.7% |
| Current assets | 29/58 | €1,786 | €16,042 | +€14,256 | +798.3% |
| Amounts receivable within one year | 40/41 | - | €832 | +€832 | |
| Trade receivables | 40 | - | €832 | +€832 | |
| Cash at bank and in hand | 54/58 | €498 | €8,091 | +€7,593 | +1524.6% |
| Deferred charges and accrued income | 490/1 | €1,288 | €7,119 | +€5,831 | +452.8% |
| Total equity and liabilities | 10/49 | €4,592 | €18,267 | +€13,676 | +297.8% |
| Equity | 10/15 | €2,855 | €13,872 | +€11,017 | +385.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €355 | €11,372 | +€11,017 | +3101.3% |
| Amounts payable | 17/49 | €1,737 | €4,395 | +€2,659 | +153.1% |
| Amounts payable within one year | 42/48 | €1,737 | €4,026 | +€2,289 | +131.8% |
| Taxes, remuneration and social security | 45 | €128 | €1,053 | +€925 | +723.2% |
| Taxes | 450/3 | €128 | €1,053 | +€925 | +723.2% |
| Other amounts payable | 47/48 | €1,609 | €2,973 | +€1,364 | +84.8% |
| Accrued charges and deferred income | 492/3 | - | €370 | +€370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96 | €580 | +€484 | +505.1% |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | €642 | €14,728 | +€14,086 | +2193.9% |
| Operating profit (loss) | 9901 | €496 | €14,148 | +€13,652 | +2751.5% |
| Financial charges | 65/66B | €13 | €78 | +€65 | +500.0% |
| Recurring financial charges | 65 | €13 | €78 | +€65 | +500.0% |
| Profit (loss) for the period before taxes | 9903 | €483 | €14,070 | +€13,587 | +2812.1% |
| Income taxes | 67/77 | €128 | €3,053 | +€2,925 | +2286.6% |
| Profit (loss) for the period | 9904 | €355 | €11,017 | +€10,662 | +3001.3% |
| Profit (loss) for the period to be appropriated | 9905 | €355 | €11,017 | +€10,662 | +3001.3% |
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 5 October 2026 via checked.be.