NDM Art: 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 Art
Largest movements
- Tangible fixed assets -€31,014
down €31,014 (-31.4%), from €98,799 to €67,785
- Cash -€3,198
down €3,198 (-76.0%), from €4,207 to €1,010
mainly Other debts (-€24,233) and Debts after one year (-€15,404)
- Receivables within one year +€2,393
up €2,393 (+40.7%), from €5,878 to €8,271
of which Trade receivables: +€3,793
- Other debts -€24,233
down €24,233 (-81.1%), from €29,886 to €5,653
- Debts after one year -€15,404
down €15,404 (-33.4%), from €46,087 to €30,684
- Trade debts +€6,630
up €6,630 (+98.0%), from €6,769 to €13,399
- Current portion of long-term debt -€6,168
down €6,168 (-28.6%), from €21,571 to €15,404
- Tax, wage and social debts +€5,061
up €5,061 (+181%), from €2,800 to €7,861
of which Taxes: +€6,661
- Gross operating margin +€7,801
up €7,801 (+28.6%), from €27,252 to €35,053
- Depreciation +€5,357
up €5,357 (+34.0%), from €15,736 to €21,093
- Taxes +€1,938
up €1,938 (+182%), from €1,062 to €3,000
- Other operating charges +€1,642
up €1,642 (+56.6%), from €2,899 to €4,541
- Financial charges +€1,197
up €1,197 (+95.3%), from €1,257 to €2,454
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 | €109,064 | €77,245 | -€31,819 | -29.2% |
| Fixed assets | 21/28 | €98,979 | €67,965 | -€31,014 | -31.3% |
| Tangible fixed assets | 22/27 | €98,799 | €67,785 | -€31,014 | -31.4% |
| Furniture and vehicles | 24 | €98,799 | €67,785 | -€31,014 | -31.4% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €10,086 | €9,281 | -€805 | -8.0% |
| Amounts receivable within one year | 40/41 | €5,878 | €8,271 | +€2,393 | +40.7% |
| Trade receivables | 40 | €4,478 | €8,271 | +€3,793 | +84.7% |
| Other amounts receivable | 41 | €1,400 | - | -€1,400 | |
| Cash at bank and in hand | 54/58 | €4,207 | €1,010 | -€3,198 | -76.0% |
| Total equity and liabilities | 10/49 | €109,064 | €77,245 | -€31,819 | -29.2% |
| Equity | 10/15 | €1,951 | €4,245 | +€2,294 | +118% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,649 | -€14,355 | +€2,294 | +13.8% |
| Amounts payable | 17/49 | €107,113 | €73,001 | -€34,113 | -31.8% |
| Amounts payable after more than one year | 17 | €46,087 | €30,684 | -€15,404 | -33.4% |
| Financial debts | 170/4 | €46,087 | €30,684 | -€15,404 | -33.4% |
| Amounts payable within one year | 42/48 | €61,026 | €42,317 | -€18,709 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €21,571 | €15,404 | -€6,168 | -28.6% |
| Trade debts | 44 | €6,769 | €13,399 | +€6,630 | +98.0% |
| Suppliers | 440/4 | €6,769 | €13,399 | +€6,630 | +98.0% |
| Taxes, remuneration and social security | 45 | €2,800 | €7,861 | +€5,061 | +181% |
| Taxes | 450/3 | - | €6,661 | +€6,661 | |
| Remuneration and social security | 454/9 | €2,800 | €1,200 | -€1,600 | -57.1% |
| Other amounts payable | 47/48 | €29,886 | €5,653 | -€24,233 | -81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,736 | €21,093 | +€5,357 | +34.0% |
| Other operating charges | 640/8 | €2,899 | €4,541 | +€1,642 | +56.6% |
| Non-recurring operating charges | 66A | €1,903 | €1,671 | -€232 | -12.2% |
| Gross operating margin | 9900 | €27,252 | €35,053 | +€7,801 | +28.6% |
| Operating profit (loss) | 9901 | €6,713 | €7,748 | +€1,035 | +15.4% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €1,257 | €2,454 | +€1,197 | +95.3% |
| Recurring financial charges | 65 | €1,257 | €2,454 | +€1,197 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | €5,492 | €5,294 | -€198 | -3.6% |
| Income taxes | 67/77 | €1,062 | €3,000 | +€1,938 | +182% |
| Profit (loss) for the period | 9904 | €4,430 | €2,294 | -€2,136 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,430 | €2,294 | -€2,136 | -48.2% |
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 20 October 2026 via checked.be.