NDM: 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.
NDM
Largest movements
- Receivables within one year +€8,412
up €8,412 (+26.8%), from €31,360 to €39,772
of which Trade receivables: +€6,306
- Cash -€8,254
down €8,254 (-26.0%), from €31,721 to €23,467
mainly Receivables within one year (-€8,412) and Investment in fixed assets (net) (-€8,192)
- Tangible fixed assets +€4,155
up €4,155 (+72.8%), from €5,711 to €9,866
of which Furniture and vehicles: +€7,297
- Profit (loss) carried forward +€9,037
up €9,037, from -€9,037 to €0
- Other debts -€5,926
down €5,926 (-100%), from €5,926 to €0
- Tax, wage and social debts +€1,501
up €1,501 (+17.9%), from €8,399 to €9,900
- Trade debts -€1,312
down €1,312 (-55.5%), from €2,365 to €1,053
- Reserves +€1,013
up €1,013 (+1.7%), from €60,139 to €61,152
- Gross operating margin +€20,196
up €20,196, from -€1,637 to €18,559
- Taxes +€3,197
up €3,197 (+1,796%), from €178 to €3,375
- Depreciation -€1,099
down €1,099 (-21.4%), from €5,136 to €4,037
- Staff costs -€813
down €813 (-100%), from €813 to €0
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 | €68,792 | €73,105 | +€4,313 | +6.3% |
| Fixed assets | 21/28 | €5,711 | €9,866 | +€4,155 | +72.8% |
| Tangible fixed assets | 22/27 | €5,711 | €9,866 | +€4,155 | +72.8% |
| Plant, machinery and equipment | 23 | €4,172 | €1,030 | -€3,142 | -75.3% |
| Furniture and vehicles | 24 | €1,539 | €8,836 | +€7,297 | +474% |
| Current assets | 29/58 | €63,081 | €63,239 | +€158 | +0.3% |
| Amounts receivable within one year | 40/41 | €31,360 | €39,772 | +€8,412 | +26.8% |
| Trade receivables | 40 | €31,360 | €37,666 | +€6,306 | +20.1% |
| Other amounts receivable | 41 | - | €2,107 | +€2,107 | |
| Cash at bank and in hand | 54/58 | €31,721 | €23,467 | -€8,254 | -26.0% |
| Total equity and liabilities | 10/49 | €68,792 | €73,105 | +€4,313 | +6.3% |
| Equity | 10/15 | €52,102 | €62,152 | +€10,050 | +19.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | - | -€1,000 | |
| Other | 1109/19 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €60,139 | €61,152 | +€1,013 | +1.7% |
| Distributable reserves | 133 | €60,139 | €61,152 | +€1,013 | +1.7% |
| Profit (loss) carried forward | 14 | -€9,037 | €0 | +€9,037 | |
| Amounts payable | 17/49 | €16,690 | €10,953 | -€5,737 | -34.4% |
| Amounts payable within one year | 42/48 | €16,690 | €10,953 | -€5,737 | -34.4% |
| Trade debts | 44 | €2,365 | €1,053 | -€1,312 | -55.5% |
| Suppliers | 440/4 | €2,365 | €1,053 | -€1,312 | -55.5% |
| Taxes, remuneration and social security | 45 | €8,399 | €9,900 | +€1,501 | +17.9% |
| Taxes | 450/3 | €8,399 | €9,900 | +€1,501 | +17.9% |
| Other amounts payable | 47/48 | €5,926 | €0 | -€5,926 | -100% |
| Remuneration, social security and pensions | 62 | €813 | €0 | -€813 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,136 | €4,037 | -€1,099 | -21.4% |
| Other operating charges | 640/8 | €1,060 | €903 | -€157 | -14.8% |
| Gross operating margin | 9900 | -€1,637 | €18,559 | +€20,196 | |
| Operating profit (loss) | 9901 | -€8,646 | €13,618 | +€22,264 | |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Financial charges | 65/66B | €213 | €193 | -€20 | -9.2% |
| Recurring financial charges | 65 | €213 | €193 | -€20 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,859 | €13,425 | +€22,284 | |
| Income taxes | 67/77 | €178 | €3,375 | +€3,197 | +1,796% |
| Profit (loss) for the period | 9904 | -€9,037 | €10,050 | +€19,087 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,037 | €10,050 | +€19,087 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.