NDS IMMO: 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.
NDS IMMO
Largest movements
- Stocks and contracts +€369,682
up €369,682 (+70.7%), from €522,920 to €892,602
- Receivables after one year +€17,500
up €17,500 (+19.4%), from €90,400 to €107,900
- Short-term financial debts +€301,375
up €301,375 (+105.2%), from €286,500 to €587,875
- Other debts +€64,135
up €64,135 (+86.6%), from €74,089 to €138,224
- Reserves +€26,982
up €26,982 (+9.9%), from €273,005 to €299,987
- Debts after one year -€21,597
down €21,597 (-7.9%), from €273,188 to €251,591
- Gross operating margin -€30,622
down €30,622 (-28.9%), from €105,860 to €75,238
- Financial charges -€16,233
down €16,233 (-68.0%), from €23,859 to €7,626
- Other operating charges +€9,023
up €9,023 (+91.2%), from €9,894 to €18,916
- Taxes -€8,402
down €8,402 (-41.1%), from €20,452 to €12,051
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 | €978,253 | €1,351,943 | +€373,690 | +38.2% |
| Fixed assets | 21/28 | €332,495 | €321,716 | -€10,779 | -3.2% |
| Tangible fixed assets | 22/27 | €332,495 | €321,716 | -€10,779 | -3.2% |
| Land and buildings | 22 | €332,495 | €321,716 | -€10,779 | -3.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €645,758 | €1,030,227 | +€384,468 | +59.5% |
| Amounts receivable after more than one year | 29 | €90,400 | €107,900 | +€17,500 | +19.4% |
| Other amounts receivable | 291 | €90,400 | €107,900 | +€17,500 | +19.4% |
| Stocks and contracts in progress | 3 | €522,920 | €892,602 | +€369,682 | +70.7% |
| Stocks | 30/36 | €522,920 | €892,602 | +€369,682 | +70.7% |
| Amounts receivable within one year | 40/41 | €5,948 | €6,949 | +€1,001 | +16.8% |
| Other amounts receivable | 41 | €5,948 | €6,949 | +€1,001 | +16.8% |
| Cash at bank and in hand | 54/58 | €25,461 | €20,652 | -€4,809 | -18.9% |
| Deferred charges and accrued income | 490/1 | €1,028 | €2,123 | +€1,095 | +106.5% |
| Total equity and liabilities | 10/49 | €978,253 | €1,351,943 | +€373,690 | +38.2% |
| Equity | 10/15 | €291,605 | €318,587 | +€26,982 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €273,005 | €299,987 | +€26,982 | +9.9% |
| Distributable reserves | 133 | €273,005 | €299,987 | +€26,982 | +9.9% |
| Amounts payable | 17/49 | €686,648 | €1,033,356 | +€346,708 | +50.5% |
| Amounts payable after more than one year | 17 | €273,188 | €251,591 | -€21,597 | -7.9% |
| Financial debts | 170/4 | €273,188 | €251,591 | -€21,597 | -7.9% |
| Amounts payable within one year | 42/48 | €413,460 | €781,766 | +€368,305 | +89.1% |
| Current portion of amounts payable after more than one year | 42 | €19,467 | €20,719 | +€1,252 | +6.4% |
| Financial debts | 43 | €286,500 | €587,875 | +€301,375 | +105.2% |
| Credit institutions | 430/8 | €286,500 | €587,875 | +€301,375 | +105.2% |
| Trade debts | 44 | €5,046 | €9,944 | +€4,899 | +97.1% |
| Suppliers | 440/4 | €5,046 | €9,944 | +€4,899 | +97.1% |
| Taxes, remuneration and social security | 45 | €28,358 | €25,003 | -€3,355 | -11.8% |
| Taxes | 450/3 | €28,358 | €25,003 | -€3,355 | -11.8% |
| Other amounts payable | 47/48 | €74,089 | €138,224 | +€64,135 | +86.6% |
| Non-recurring operating income | 76A | €35,116 | €12,014 | -€23,102 | -65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,779 | €10,779 | +€0 | 0.0% |
| Other operating charges | 640/8 | €9,894 | €18,916 | +€9,023 | +91.2% |
| Gross operating margin | 9900 | €105,860 | €75,238 | -€30,622 | -28.9% |
| Operating profit (loss) | 9901 | €85,188 | €45,543 | -€39,644 | -46.5% |
| Financial income | 75/76B | €952 | €1,115 | +€163 | +17.1% |
| Recurring financial income | 75 | €952 | €1,115 | +€163 | +17.1% |
| Financial charges | 65/66B | €23,859 | €7,626 | -€16,233 | -68.0% |
| Recurring financial charges | 65 | €23,859 | €7,626 | -€16,233 | -68.0% |
| Profit (loss) for the period before taxes | 9903 | €62,280 | €39,032 | -€23,248 | -37.3% |
| Income taxes | 67/77 | €20,452 | €12,051 | -€8,402 | -41.1% |
| Profit (loss) for the period | 9904 | €41,828 | €26,982 | -€14,846 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,828 | €26,982 | -€14,846 | -35.5% |
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 9 October 2026 via checked.be.