NDLG: 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.
NDLG
Largest movements
- Tangible fixed assets +€17,632
up €17,632 (+6.1%), from €286,966 to €304,598
- Debts after one year +€38,277
up €38,277 (+14.2%), from €269,201 to €307,478
- Profit (loss) carried forward -€19,380
down €19,380 (-28.4%), from -€68,159 to -€87,539
- Other operating charges +€4,801
up €4,801 (+136.7%), from €3,513 to €8,314
- Depreciation -€2,591
down €2,591 (-79.2%), from €3,271 to €680
- Gross operating margin +€2,040
up €2,040 (+56.5%), from -€3,610 to -€1,570
- Financial charges -€329
down €329 (-3.6%), from €9,146 to €8,816
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 | €289,010 | €306,809 | +€17,799 | +6.2% |
| Formation expenses | 20 | €680 | €0 | -€680 | -100.0% |
| Fixed assets | 21/28 | €286,966 | €304,598 | +€17,632 | +6.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €286,966 | €304,598 | +€17,632 | +6.1% |
| Assets under construction and advance payments | 27 | €286,966 | €304,598 | +€17,632 | +6.1% |
| Current assets | 29/58 | €1,364 | €2,211 | +€847 | +62.1% |
| Amounts receivable within one year | 40/41 | €1,351 | €1,704 | +€353 | +26.2% |
| Other amounts receivable | 41 | €1,351 | €1,704 | +€353 | +26.2% |
| Cash at bank and in hand | 54/58 | €13 | €507 | +€494 | +3703.5% |
| Total equity and liabilities | 10/49 | €289,010 | €306,809 | +€17,799 | +6.2% |
| Equity | 10/15 | -€4,159 | -€23,539 | -€19,380 | -466.0% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,159 | -€87,539 | -€19,380 | -28.4% |
| Amounts payable | 17/49 | €293,169 | €330,348 | +€37,179 | +12.7% |
| Amounts payable after more than one year | 17 | €269,201 | €307,478 | +€38,277 | +14.2% |
| Financial debts | 170/4 | €269,201 | €307,478 | +€38,277 | +14.2% |
| Amounts payable within one year | 42/48 | €23,968 | €22,870 | -€1,098 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €21,376 | €21,680 | +€304 | +1.4% |
| Trade debts | 44 | €2,591 | €1,190 | -€1,402 | -54.1% |
| Suppliers | 440/4 | €2,591 | €1,190 | -€1,402 | -54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,271 | €680 | -€2,591 | -79.2% |
| Other operating charges | 640/8 | €3,513 | €8,314 | +€4,801 | +136.7% |
| Gross operating margin | 9900 | -€3,610 | -€1,570 | +€2,040 | +56.5% |
| Operating profit (loss) | 9901 | -€10,393 | -€10,564 | -€171 | -1.6% |
| Financial charges | 65/66B | €9,146 | €8,816 | -€329 | -3.6% |
| Recurring financial charges | 65 | €9,146 | €8,816 | -€329 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,539 | -€19,380 | +€159 | +0.8% |
| Profit (loss) for the period | 9904 | -€19,539 | -€19,380 | +€159 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,539 | -€19,380 | +€159 | +0.8% |
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.