NDR: 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.
NDR
Largest movements
- Tangible fixed assets +€185,196
up €185,196 (+80.0%), from €231,365 to €416,562
of which Land and buildings: +€187,279
- Receivables within one year +€64,093
up €64,093 (+1919.9%), from €3,338 to €67,431
of which Trade receivables: +€54,683
- Receivables after one year -€19,300
down €19,300 (-55.1%), from €35,000 to €15,700
- Cash -€10,591
down €10,591 (-34.9%), from €30,318 to €19,726
mainly Investment in fixed assets (net) (-€198,250) and Receivables within one year (-€64,093)
- Debts after one year +€215,146
up €215,146 (+97.0%), from €221,834 to €436,980
- Trade debts -€22,535
down €22,535 (-71.4%), from €31,556 to €9,020
- Current portion of long-term debt +€20,994
new in 2024: €20,994
- Gross operating margin -€8,139
down €8,139 (-15.9%), from €51,238 to €43,099
- Financial charges +€3,607
up €3,607 (+84.3%), from €4,277 to €7,884
- Depreciation -€3,141
down €3,141 (-19.4%), from €16,195 to €13,054
- Other operating charges +€1,671
up €1,671 (+38.4%), from €4,353 to €6,024
- Taxes -€1,578
down €1,578 (-33.2%), from €4,751 to €3,173
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,156 | €519,555 | +€219,398 | +73.1% |
| Fixed assets | 21/28 | €231,500 | €416,697 | +€185,196 | +80.0% |
| Tangible fixed assets | 22/27 | €231,365 | €416,562 | +€185,196 | +80.0% |
| Land and buildings | 22 | €221,015 | €408,294 | +€187,279 | +84.7% |
| Plant, machinery and equipment | 23 | €10,349 | €8,268 | -€2,081 | -20.1% |
| Furniture and vehicles | 24 | €1 | - | -€1 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €68,656 | €102,858 | +€34,202 | +49.8% |
| Amounts receivable after more than one year | 29 | €35,000 | €15,700 | -€19,300 | -55.1% |
| Other amounts receivable | 291 | €35,000 | €15,700 | -€19,300 | -55.1% |
| Amounts receivable within one year | 40/41 | €3,338 | €67,431 | +€64,093 | +1919.9% |
| Trade receivables | 40 | €460 | €55,144 | +€54,683 | +11886.4% |
| Other amounts receivable | 41 | €2,878 | €12,288 | +€9,410 | +326.9% |
| Cash at bank and in hand | 54/58 | €30,318 | €19,726 | -€10,591 | -34.9% |
| Total equity and liabilities | 10/49 | €300,156 | €519,555 | +€219,398 | +73.1% |
| Equity | 10/15 | €34,251 | €36,791 | +€2,539 | +7.4% |
| Contributions | 10/11 | €18,740 | €18,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,512 | €18,051 | +€2,539 | +16.4% |
| Amounts payable | 17/49 | €265,905 | €482,764 | +€216,859 | +81.6% |
| Amounts payable after more than one year | 17 | €221,834 | €436,980 | +€215,146 | +97.0% |
| Financial debts | 170/4 | €221,834 | €436,980 | +€215,146 | +97.0% |
| Amounts payable within one year | 42/48 | €44,071 | €45,784 | +€1,713 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | - | €20,994 | +€20,994 | |
| Trade debts | 44 | €31,556 | €9,020 | -€22,535 | -71.4% |
| Suppliers | 440/4 | €31,556 | €9,020 | -€22,535 | -71.4% |
| Taxes, remuneration and social security | 45 | €12,516 | €15,769 | +€3,254 | +26.0% |
| Taxes | 450/3 | €10,344 | €13,501 | +€3,157 | +30.5% |
| Remuneration and social security | 454/9 | €2,172 | €2,268 | +€96 | +4.4% |
| Remuneration, social security and pensions | 62 | €9,578 | €10,717 | +€1,139 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,195 | €13,054 | -€3,141 | -19.4% |
| Other operating charges | 640/8 | €4,353 | €6,024 | +€1,671 | +38.4% |
| Gross operating margin | 9900 | €51,238 | €43,099 | -€8,139 | -15.9% |
| Operating profit (loss) | 9901 | €21,113 | €13,304 | -€7,808 | -37.0% |
| Financial income | 75/76B | €404 | €293 | -€112 | -27.6% |
| Recurring financial income | 75 | €404 | €293 | -€112 | -27.6% |
| Financial charges | 65/66B | €4,277 | €7,884 | +€3,607 | +84.3% |
| Recurring financial charges | 65 | €4,277 | €7,884 | +€3,607 | +84.3% |
| Profit (loss) for the period before taxes | 9903 | €17,240 | €5,713 | -€11,527 | -66.9% |
| Income taxes | 67/77 | €4,751 | €3,173 | -€1,578 | -33.2% |
| Profit (loss) for the period | 9904 | €12,489 | €2,539 | -€9,950 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,489 | €2,539 | -€9,950 | -79.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.