NDMA: 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.
NDMA
Largest movements
- Cash +€63,460
up €63,460 (+108.8%), from €58,303 to €121,763
mainly Net result for the year (+€75,358) and Tax, wage and social debts (+€14,541)
- Deferred charges and accrued income -€2,597
down €2,597 (-98.8%), from €2,627 to €30
- Intangible fixed assets -€2,500
down €2,500 (-16.6%), from €15,086 to €12,586
- Profit (loss) carried forward +€75,358
up €75,358 (+102.6%), from €73,479 to €148,837
- Debts after one year -€28,000
no longer reported in 2025 (was €28,000)
- Tax, wage and social debts +€14,541
up €14,541 (+67.8%), from €21,448 to €35,988
- Trade debts -€2,079
down €2,079 (-47.4%), from €4,388 to €2,308
- Gross operating margin +€24,614
up €24,614 (+32.4%), from €75,902 to €100,516
- Taxes +€4,734
up €4,734 (+33.5%), from €14,127 to €18,861
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 | €132,476 | €192,134 | +€59,658 | +45.0% |
| Fixed assets | 21/28 | €19,696 | €17,012 | -€2,685 | -13.6% |
| Intangible fixed assets | 21 | €15,086 | €12,586 | -€2,500 | -16.6% |
| Tangible fixed assets | 22/27 | €4,611 | €4,426 | -€185 | -4.0% |
| Plant, machinery and equipment | 23 | €1,724 | €58 | -€1,667 | -96.7% |
| Furniture and vehicles | 24 | €2,886 | €4,368 | +€1,482 | +51.3% |
| Current assets | 29/58 | €112,779 | €175,123 | +€62,343 | +55.3% |
| Amounts receivable within one year | 40/41 | €51,849 | €53,329 | +€1,480 | +2.9% |
| Trade receivables | 40 | €51,849 | €52,599 | +€750 | +1.4% |
| Other amounts receivable | 41 | - | €729 | +€729 | |
| Cash at bank and in hand | 54/58 | €58,303 | €121,763 | +€63,460 | +108.8% |
| Deferred charges and accrued income | 490/1 | €2,627 | €30 | -€2,597 | -98.8% |
| Total equity and liabilities | 10/49 | €132,476 | €192,134 | +€59,658 | +45.0% |
| Equity | 10/15 | €78,479 | €153,837 | +€75,358 | +96.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,479 | €148,837 | +€75,358 | +102.6% |
| Amounts payable | 17/49 | €53,996 | €38,297 | -€15,700 | -29.1% |
| Amounts payable after more than one year | 17 | €28,000 | - | -€28,000 | |
| Other amounts payable | 178/9 | €28,000 | - | -€28,000 | |
| Amounts payable within one year | 42/48 | €25,996 | €38,297 | +€12,300 | +47.3% |
| Trade debts | 44 | €4,388 | €2,308 | -€2,079 | -47.4% |
| Suppliers | 440/4 | €4,388 | €2,308 | -€2,079 | -47.4% |
| Taxes, remuneration and social security | 45 | €21,448 | €35,988 | +€14,541 | +67.8% |
| Taxes | 450/3 | €21,448 | €35,988 | +€14,541 | +67.8% |
| Other amounts payable | 47/48 | €161 | - | -€161 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,443 | €5,448 | +€1,005 | +22.6% |
| Other operating charges | 640/8 | €103 | €222 | +€119 | +116.2% |
| Gross operating margin | 9900 | €75,902 | €100,516 | +€24,614 | +32.4% |
| Operating profit (loss) | 9901 | €71,356 | €94,847 | +€23,490 | +32.9% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €663 | €629 | -€33 | -5.0% |
| Recurring financial charges | 65 | €663 | €629 | -€33 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €70,694 | €94,219 | +€23,525 | +33.3% |
| Income taxes | 67/77 | €14,127 | €18,861 | +€4,734 | +33.5% |
| Profit (loss) for the period | 9904 | €56,567 | €75,358 | +€18,791 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,567 | €75,358 | +€18,791 | +33.2% |
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 8 October 2026 via checked.be.