NDQ: 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.
What changed
NDQ
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€865,147
2024 · €460,377+€404,769
Equity
€5.2m
2024 · €4.5m+€605,147
Cash
€1.0m
2024 · €2.6m-€1.6m
Balance sheet total
€17.3m
2024 · €16.2m+€1.1m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+37.1%), from €4.3m to €5.8m
of which Trade receivables: +€1.6m
- Cash -€1.6m
down €1.6m (-60.9%), from €2.6m to €1.0m
mainly Investment in fixed assets (net) (-€2.0m) and Receivables within one year (-€1.6m)
- Intangible fixed assets +€538,020
up €538,020 (+286%), from €188,370 to €726,390
- Tangible fixed assets +€450,931
up €450,931 (+5.0%), from €9.1m to €9.5m
of which Assets under construction and advance payments: +€653,053
Equity and liabilities
- Reserves +€605,147
up €605,147 (+13.4%), from €4.5m to €5.1m
of which Distributable reserves: +€605,147
- Trade debts +€545,711
up €545,711 (+13.0%), from €4.2m to €4.7m
- Debts after one year -€275,423
down €275,423 (-4.5%), from €6.2m to €5.9m
Income statement
- Turnover +€3.5m
up €3.5m (+11.3%), from €31.1m to €34.7m
- Goods and materials +€3.1m
up €3.1m (+13.2%), from €23.2m to €26.3m
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.
Result 2024
€460,377
Turnover
+€3.5m
Other operating income
+€42,266
Goods and materials
-€3.1m
Services and other goods
+€248,211
Staff costs
-€252,531
Depreciation
-€147,738
Write-downs
+€76,990
Other operating charges
-€1,216
Other operating items
+€79,191
Financial income
+€37,469
Financial charges
-€27,501
Taxes
-€105,662
Result 2025
€865,147
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€821,186
Investment
-€2.0m
Financing
-€434,696
Cash 2024
€2.6m
From operations (derived)
+€821,186
Net result for the year
+€865,147
Depreciation
+€964,631
Receivables after one year
-€35,645
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€52,555
Trade debts
+€545,711
Tax, wage and social debts
+€92,372
Other debts
+€30,000
Accrued charges and deferred income
-€6,357
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Financing
-€434,696
Debts after one year
-€275,423
Current portion of long-term debt
+€134,080
Short-term financial debts
-€33,353
Contributions, distributions and other
-€260,000
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,224,312 | €17,316,489 | +€1.1m | +6.7% |
| Fixed assets | 21/28 | €9,284,522 | €10,273,473 | +€988,951 | +10.7% |
| Intangible fixed assets | 21 | €188,370 | €726,390 | +€538,020 | +286% |
| Tangible fixed assets | 22/27 | €9,090,700 | €9,541,631 | +€450,931 | +5.0% |
| Land and buildings | 22 | €8,320,844 | €7,799,693 | -€521,151 | -6.3% |
| Plant, machinery and equipment | 23 | €40,674 | €87,196 | +€46,522 | +114% |
| Furniture and vehicles | 24 | €729,183 | €1,001,690 | +€272,507 | +37.4% |
| Assets under construction and advance payments | 27 | - | €653,053 | +€653,053 | |
| Financial fixed assets | 28 | €5,452 | €5,452 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,452 | €5,452 | = | 0.0% |
| Shares | 284 | €5,000 | €5,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €452 | €452 | = | 0.0% |
| Current assets | 29/58 | €6,939,790 | €7,043,016 | +€103,226 | +1.5% |
| Amounts receivable after more than one year | 29 | - | €35,645 | +€35,645 | |
| Other amounts receivable | 291 | - | €35,645 | +€35,645 | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,267,634 | €5,849,753 | +€1.6m | +37.1% |
| Trade receivables | 40 | €3,860,271 | €5,451,949 | +€1.6m | +41.2% |
| Other amounts receivable | 41 | €407,363 | €397,803 | -€9,560 | -2.3% |
| Cash at bank and in hand | 54/58 | €2,574,197 | €1,007,104 | -€1.6m | -60.9% |
| Deferred charges and accrued income | 490/1 | €97,959 | €150,514 | +€52,555 | +53.6% |
| Total equity and liabilities | 10/49 | €16,224,312 | €17,316,489 | +€1.1m | +6.7% |
| Equity | 10/15 | €4,549,936 | €5,155,083 | +€605,147 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,531,336 | €5,136,483 | +€605,147 | +13.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €4,531,336 | €5,136,483 | +€605,147 | +13.4% |
| Amounts payable | 17/49 | €11,674,375 | €12,161,406 | +€487,030 | +4.2% |
| Amounts payable after more than one year | 17 | €6,166,323 | €5,890,900 | -€275,423 | -4.5% |
| Financial debts | 170/4 | €6,166,323 | €5,890,900 | -€275,423 | -4.5% |
| Credit institutions | 173 | €6,166,323 | €5,890,900 | -€275,423 | -4.5% |
| Amounts payable within one year | 42/48 | €5,501,696 | €6,270,506 | +€768,810 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €674,925 | €809,004 | +€134,080 | +19.9% |
| Financial debts | 43 | €208,353 | €175,000 | -€33,353 | -16.0% |
| Credit institutions | 430/8 | €208,353 | €175,000 | -€33,353 | -16.0% |
| Trade debts | 44 | €4,196,752 | €4,742,464 | +€545,711 | +13.0% |
| Suppliers | 440/4 | €4,196,752 | €4,742,464 | +€545,711 | +13.0% |
| Taxes, remuneration and social security | 45 | €191,666 | €284,038 | +€92,372 | +48.2% |
| Taxes | 450/3 | €34,452 | €117,756 | +€83,304 | +242% |
| Remuneration and social security | 454/9 | €157,214 | €166,282 | +€9,068 | +5.8% |
| Other amounts payable | 47/48 | €230,000 | €260,000 | +€30,000 | +13.0% |
| Accrued charges and deferred income | 492/3 | €6,357 | €0 | -€6,357 | -100% |
| Operating income | 70/76A | €31,218,417 | €34,777,017 | +€3.6m | +11.4% |
| Turnover | 70 | €31,137,347 | €34,654,480 | +€3.5m | +11.3% |
| Other operating income | 74 | €80,270 | €122,537 | +€42,266 | +52.7% |
| Non-recurring operating income | 76A | €800 | €0 | -€800 | -100% |
| Operating charges | 60/66A | €30,545,071 | €33,603,207 | +€3.1m | +10.0% |
| Goods for resale, raw materials and consumables | 60 | €23,206,244 | €26,268,088 | +€3.1m | +13.2% |
| Purchases | 600/8 | €23,206,244 | €26,268,088 | +€3.1m | +13.2% |
| Services and other goods | 61 | €4,479,372 | €4,231,161 | -€248,211 | -5.5% |
| Remuneration, social security and pensions | 62 | €1,843,582 | €2,096,113 | +€252,531 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816,893 | €964,631 | +€147,738 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €76,990 | €0 | -€76,990 | -100% |
| Other operating charges | 640/8 | €41,999 | €43,215 | +€1,216 | +2.9% |
| Non-recurring operating charges | 66A | €79,991 | €0 | -€79,991 | -100% |
| Operating profit (loss) | 9901 | €673,346 | €1,173,809 | +€500,463 | +74.3% |
| Financial income | 75/76B | €130,707 | €168,176 | +€37,469 | +28.7% |
| Recurring financial income | 75 | €126,047 | €168,056 | +€42,009 | +33.3% |
| Income from financial fixed assets | 750 | - | €432 | +€432 | |
| Other financial income | 752/9 | €126,047 | €167,624 | +€41,577 | +33.0% |
| Non-recurring financial income | 76B | €4,660 | €120 | -€4,540 | -97.4% |
| Financial charges | 65/66B | €249,913 | €277,414 | +€27,501 | +11.0% |
| Recurring financial charges | 65 | €249,913 | €277,414 | +€27,501 | +11.0% |
| Debt charges | 650 | €173,204 | €165,883 | -€7,321 | -4.2% |
| Other financial charges | 652/9 | €76,709 | €111,531 | +€34,823 | +45.4% |
| Profit (loss) for the period before taxes | 9903 | €554,140 | €1,064,571 | +€510,431 | +92.1% |
| Income taxes | 67/77 | €93,763 | €199,424 | +€105,662 | +113% |
| Taxes | 670/3 | €93,763 | €199,424 | +€105,662 | +113% |
| Profit (loss) for the period | 9904 | €460,377 | €865,147 | +€404,769 | +87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €460,377 | €865,147 | +€404,769 | +87.9% |
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 14 October 2026 via checked.be.