NDM Projects: 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.
NDM Projects
Largest movements
- Cash +€27,346
up €27,346 (+53.4%), from €51,248 to €78,594
mainly Other debts (+€15,038) and Receivables within one year (+€14,727)
- Receivables within one year -€14,727
down €14,727 (-78.6%), from €18,734 to €4,006
of which Trade receivables: -€18,734
- Tangible fixed assets -€7,510
down €7,510 (-34.8%), from €21,563 to €14,052
of which Furniture and vehicles: -€5,482
- Tax, wage and social debts -€18,457
down €18,457 (-85.4%), from €21,606 to €3,149
- Other debts +€15,038
up €15,038 (+406.5%), from €3,700 to €18,737
- Reserves +€12,262
up €12,262 (+21.4%), from €57,292 to €69,554
- Trade debts -€3,588
down €3,588 (-77.9%), from €4,607 to €1,020
- Gross operating margin -€46,905
down €46,905 (-67.4%), from €69,632 to €22,728
- Taxes -€9,221
down €9,221 (-74.5%), from €12,369 to €3,149
- Financial income +€1,046
up €1,046 (+74706.4%), from €1 to €1,047
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 | €92,205 | €97,459 | +€5,255 | +5.7% |
| Fixed assets | 21/28 | €21,563 | €14,052 | -€7,510 | -34.8% |
| Tangible fixed assets | 22/27 | €21,563 | €14,052 | -€7,510 | -34.8% |
| Plant, machinery and equipment | 23 | €6,513 | €4,485 | -€2,028 | -31.1% |
| Furniture and vehicles | 24 | €15,050 | €9,568 | -€5,482 | -36.4% |
| Current assets | 29/58 | €70,642 | €83,407 | +€12,765 | +18.1% |
| Amounts receivable within one year | 40/41 | €18,734 | €4,006 | -€14,727 | -78.6% |
| Trade receivables | 40 | €18,734 | - | -€18,734 | |
| Other amounts receivable | 41 | - | €4,006 | +€4,006 | |
| Cash at bank and in hand | 54/58 | €51,248 | €78,594 | +€27,346 | +53.4% |
| Deferred charges and accrued income | 490/1 | €660 | €807 | +€146 | +22.2% |
| Total equity and liabilities | 10/49 | €92,205 | €97,459 | +€5,255 | +5.7% |
| Equity | 10/15 | €62,292 | €74,554 | +€12,262 | +19.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €57,292 | €69,554 | +€12,262 | +21.4% |
| Distributable reserves | 133 | €57,292 | €69,554 | +€12,262 | +21.4% |
| Amounts payable | 17/49 | €29,912 | €22,906 | -€7,007 | -23.4% |
| Amounts payable within one year | 42/48 | €29,912 | €22,906 | -€7,007 | -23.4% |
| Trade debts | 44 | €4,607 | €1,020 | -€3,588 | -77.9% |
| Suppliers | 440/4 | €4,607 | €1,020 | -€3,588 | -77.9% |
| Taxes, remuneration and social security | 45 | €21,606 | €3,149 | -€18,457 | -85.4% |
| Taxes | 450/3 | €21,606 | €3,149 | -€18,457 | -85.4% |
| Other amounts payable | 47/48 | €3,700 | €18,737 | +€15,038 | +406.5% |
| Non-recurring operating income | 76A | - | €6,141 | +€6,141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,258 | €8,091 | -€167 | -2.0% |
| Other operating charges | 640/8 | €64 | €66 | +€2 | +3.0% |
| Gross operating margin | 9900 | €69,632 | €22,728 | -€46,905 | -67.4% |
| Operating profit (loss) | 9901 | €61,311 | €14,571 | -€46,739 | -76.2% |
| Financial income | 75/76B | €1 | €1,047 | +€1,046 | +74706.4% |
| Recurring financial income | 75 | €1 | €1,047 | +€1,046 | +74706.4% |
| Financial charges | 65/66B | €126 | €209 | +€83 | +65.8% |
| Recurring financial charges | 65 | €126 | €209 | +€83 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €61,186 | €15,410 | -€45,776 | -74.8% |
| Income taxes | 67/77 | €12,369 | €3,149 | -€9,221 | -74.5% |
| Profit (loss) for the period | 9904 | €48,817 | €12,262 | -€36,555 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,817 | €12,262 | -€36,555 | -74.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.