NDRX: 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.
NDRX
Largest movements
- Receivables within one year -€48,313
down €48,313 (-63.0%), from €76,733 to €28,420
of which Other amounts receivable: -€26,077
- Cash +€39,435
up €39,435 (+40.4%), from €97,516 to €136,951
mainly Receivables within one year (+€48,313) and Depreciation (+€36,408)
- Tangible fixed assets -€28,015
down €28,015 (-21.9%), from €127,986 to €99,971
of which Furniture and vehicles: -€23,835
- Tax, wage and social debts -€28,171
down €28,171 (-53.9%), from €52,280 to €24,109
of which Taxes: -€28,211
- Current portion of long-term debt -€16,395
down €16,395 (-50.6%), from €32,407 to €16,011
- Reserves +€8,416
up €8,416 (+4.3%), from €195,086 to €203,503
- Other debts +€6,620
up €6,620, from €0 to €6,620
- Debts after one year -€6,011
down €6,011 (-92.1%), from €6,526 to €515
- Gross operating margin -€119,213
down €119,213 (-66.7%), from €178,753 to €59,540
- Taxes -€22,151
down €22,151 (-63.4%), from €34,915 to €12,763
- Depreciation +€9,306
up €9,306 (+34.3%), from €27,102 to €36,408
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 | €302,235 | €267,733 | -€34,502 | -11.4% |
| Fixed assets | 21/28 | €127,986 | €99,971 | -€28,015 | -21.9% |
| Tangible fixed assets | 22/27 | €127,986 | €99,971 | -€28,015 | -21.9% |
| Land and buildings | 22 | €27,876 | €24,705 | -€3,171 | -11.4% |
| Plant, machinery and equipment | 23 | €36,375 | €35,367 | -€1,008 | -2.8% |
| Furniture and vehicles | 24 | €63,735 | €39,900 | -€23,835 | -37.4% |
| Current assets | 29/58 | €174,249 | €167,762 | -€6,487 | -3.7% |
| Amounts receivable within one year | 40/41 | €76,733 | €28,420 | -€48,313 | -63.0% |
| Trade receivables | 40 | €47,025 | €24,788 | -€22,237 | -47.3% |
| Other amounts receivable | 41 | €29,708 | €3,632 | -€26,077 | -87.8% |
| Cash at bank and in hand | 54/58 | €97,516 | €136,951 | +€39,435 | +40.4% |
| Deferred charges and accrued income | 490/1 | €0 | €2,391 | +€2,391 | |
| Total equity and liabilities | 10/49 | €302,235 | €267,733 | -€34,502 | -11.4% |
| Equity | 10/15 | €208,286 | €216,703 | +€8,416 | +4.0% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €195,086 | €203,503 | +€8,416 | +4.3% |
| Distributable reserves | 133 | €195,086 | €203,503 | +€8,416 | +4.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,949 | €51,031 | -€42,918 | -45.7% |
| Amounts payable after more than one year | 17 | €6,526 | €515 | -€6,011 | -92.1% |
| Financial debts | 170/4 | €6,526 | €515 | -€6,011 | -92.1% |
| Amounts payable within one year | 42/48 | €87,422 | €50,516 | -€36,907 | -42.2% |
| Current portion of amounts payable after more than one year | 42 | €32,407 | €16,011 | -€16,395 | -50.6% |
| Trade debts | 44 | €2,736 | €3,775 | +€1,040 | +38.0% |
| Suppliers | 440/4 | €2,736 | €3,775 | +€1,040 | +38.0% |
| Taxes, remuneration and social security | 45 | €52,280 | €24,109 | -€28,171 | -53.9% |
| Taxes | 450/3 | €48,411 | €20,200 | -€28,211 | -58.3% |
| Remuneration and social security | 454/9 | €3,869 | €3,909 | +€40 | +1.0% |
| Other amounts payable | 47/48 | €0 | €6,620 | +€6,620 | |
| Non-recurring operating income | 76A | €16,053 | €0 | -€16,053 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,102 | €36,408 | +€9,306 | +34.3% |
| Other operating charges | 640/8 | €516 | €888 | +€372 | +72.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €178,753 | €59,540 | -€119,213 | -66.7% |
| Operating profit (loss) | 9901 | €151,135 | €22,245 | -€128,890 | -85.3% |
| Financial income | 75/76B | €61 | €325 | +€264 | +429.0% |
| Recurring financial income | 75 | €61 | €325 | +€264 | +429.0% |
| Financial charges | 65/66B | €1,112 | €1,390 | +€278 | +25.0% |
| Recurring financial charges | 65 | €1,112 | €1,390 | +€278 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €150,084 | €21,180 | -€128,905 | -85.9% |
| Income taxes | 67/77 | €34,915 | €12,763 | -€22,151 | -63.4% |
| Profit (loss) for the period | 9904 | €115,169 | €8,416 | -€106,753 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,169 | €8,416 | -€106,753 | -92.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.