NDP Capital: 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.
NDP Capital
Largest movements
- Current investments +€20,000
new in 2025: €20,000
- Cash -€5,708
down €5,708 (-8.9%), from €63,893 to €58,185
mainly Contributions, distributions and other (-€42,683) and Current investments (-€20,000)
- Tangible fixed assets -€1,523
down €1,523 (-28.3%), from €5,390 to €3,867
- Profit (loss) carried forward +€8,488
up €8,488 (+2,919%), from €291 to €8,779
- Tax, wage and social debts +€5,039
up €5,039 (+49.6%), from €10,168 to €15,208
- Gross operating margin +€10,158
up €10,158 (+17.1%), from €59,336 to €69,494
- Taxes -€2,159
down €2,159 (-13.1%), from €16,448 to €14,288
- Financial income +€822
up €822 (+44,435%), from €2 to €824
- Financial charges +€718
up €718 (+34.3%), from €2,097 to €2,815
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 | €107,459 | €121,376 | +€13,917 | +13.0% |
| Fixed assets | 21/28 | €5,390 | €3,867 | -€1,523 | -28.3% |
| Tangible fixed assets | 22/27 | €5,390 | €3,867 | -€1,523 | -28.3% |
| Furniture and vehicles | 24 | €5,390 | €3,867 | -€1,523 | -28.3% |
| Current assets | 29/58 | €102,069 | €117,509 | +€15,440 | +15.1% |
| Amounts receivable within one year | 40/41 | €37,092 | €37,891 | +€798 | +2.2% |
| Trade receivables | 40 | €32,871 | €31,053 | -€1,817 | -5.5% |
| Other amounts receivable | 41 | €4,222 | €6,837 | +€2,616 | +62.0% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €63,893 | €58,185 | -€5,708 | -8.9% |
| Deferred charges and accrued income | 490/1 | €1,083 | €1,433 | +€350 | +32.3% |
| Total equity and liabilities | 10/49 | €107,459 | €121,376 | +€13,917 | +13.0% |
| Equity | 10/15 | €97,291 | €105,779 | +€8,488 | +8.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €96,000 | €96,000 | = | 0.0% |
| Distributable reserves | 133 | €96,000 | €96,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €291 | €8,779 | +€8,488 | +2,919% |
| Amounts payable | 17/49 | €10,168 | €15,597 | +€5,429 | +53.4% |
| Amounts payable within one year | 42/48 | €10,168 | €15,571 | +€5,403 | +53.1% |
| Trade debts | 44 | €0 | €364 | +€364 | |
| Suppliers | 440/4 | €0 | €364 | +€364 | |
| Taxes, remuneration and social security | 45 | €10,168 | €15,208 | +€5,039 | +49.6% |
| Taxes | 450/3 | €10,168 | €15,208 | +€5,039 | +49.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,523 | €1,523 | +€0 | 0.0% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340% |
| Gross operating margin | 9900 | €59,336 | €69,494 | +€10,158 | +17.1% |
| Operating profit (loss) | 9901 | €57,695 | €67,451 | +€9,756 | +16.9% |
| Financial income | 75/76B | €2 | €824 | +€822 | +44,435% |
| Recurring financial income | 75 | €2 | €824 | +€822 | +44,435% |
| Financial charges | 65/66B | €2,097 | €2,815 | +€718 | +34.3% |
| Recurring financial charges | 65 | €2,097 | €2,815 | +€718 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €55,600 | €65,460 | +€9,860 | +17.7% |
| Income taxes | 67/77 | €16,448 | €14,288 | -€2,159 | -13.1% |
| Profit (loss) for the period | 9904 | €39,152 | €51,171 | +€12,019 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,152 | €51,171 | +€12,019 | +30.7% |
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 25 October 2026 via checked.be.