NDVH: 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.
NDVH
Largest movements
- Deferred charges and accrued income +€60,568
new in 2025: €60,568
- Receivables within one year -€19,678
down €19,678 (-59.6%), from €33,008 to €13,330
of which Other amounts receivable: -€21,151
- Tangible fixed assets -€4,743
down €4,743 (-8.2%), from €57,931 to €53,188
of which Land and buildings: -€3,742
- Cash +€2,602
up €2,602 (+223.0%), from €1,167 to €3,769
mainly Other debts (+€24,617) and Receivables within one year (+€19,678)
- Other debts +€24,617
new in 2025: €24,617
- Trade debts +€12,991
up €12,991 (+97.2%), from €13,369 to €26,360
- Reserves +€6,970
up €6,970 (+14.2%), from €49,223 to €56,192
of which Distributable reserves: +€6,970
- Tax, wage and social debts -€5,828
down €5,828 (-36.2%), from €16,122 to €10,293
- Gross operating margin -€4,902
down €4,902 (-15.7%), from €31,256 to €26,354
- Staff costs -€4,400
no longer reported in 2025 (was €4,400)
- Depreciation +€4,180
up €4,180 (+47.4%), from €8,813 to €12,993
- Taxes -€2,136
down €2,136 (-34.4%), from €6,215 to €4,079
- Financial income -€1,383
down €1,383 (-96.3%), from €1,435 to €53
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 | €92,105 | €130,855 | +€38,750 | +42.1% |
| Fixed assets | 21/28 | €57,931 | €53,188 | -€4,743 | -8.2% |
| Tangible fixed assets | 22/27 | €57,931 | €53,188 | -€4,743 | -8.2% |
| Land and buildings | 22 | €30,770 | €27,027 | -€3,742 | -12.2% |
| Plant, machinery and equipment | 23 | €9,541 | €7,842 | -€1,699 | -17.8% |
| Furniture and vehicles | 24 | €17,620 | €18,318 | +€699 | +4.0% |
| Current assets | 29/58 | €34,174 | €77,667 | +€43,493 | +127.3% |
| Amounts receivable within one year | 40/41 | €33,008 | €13,330 | -€19,678 | -59.6% |
| Trade receivables | 40 | €10,680 | €12,153 | +€1,473 | +13.8% |
| Other amounts receivable | 41 | €22,328 | €1,177 | -€21,151 | -94.7% |
| Cash at bank and in hand | 54/58 | €1,167 | €3,769 | +€2,602 | +223.0% |
| Deferred charges and accrued income | 490/1 | - | €60,568 | +€60,568 | |
| Total equity and liabilities | 10/49 | €92,105 | €130,855 | +€38,750 | +42.1% |
| Equity | 10/15 | €62,615 | €69,584 | +€6,970 | +11.1% |
| Contributions | 10/11 | €13,392 | €13,392 | = | 0.0% |
| Reserves | 13 | €49,223 | €56,192 | +€6,970 | +14.2% |
| Non-distributable reserves | 130/1 | €87 | €87 | = | 0.0% |
| Reserves not available under the articles | 1311 | €87 | €87 | = | 0.0% |
| Distributable reserves | 133 | €49,135 | €56,105 | +€6,970 | +14.2% |
| Amounts payable | 17/49 | €29,490 | €61,270 | +€31,780 | +107.8% |
| Amounts payable within one year | 42/48 | €29,490 | €61,270 | +€31,780 | +107.8% |
| Trade debts | 44 | €13,369 | €26,360 | +€12,991 | +97.2% |
| Suppliers | 440/4 | €13,369 | €26,360 | +€12,991 | +97.2% |
| Taxes, remuneration and social security | 45 | €16,122 | €10,293 | -€5,828 | -36.2% |
| Taxes | 450/3 | €16,122 | €10,293 | -€5,828 | -36.2% |
| Other amounts payable | 47/48 | - | €24,617 | +€24,617 | |
| Remuneration, social security and pensions | 62 | €4,400 | - | -€4,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,813 | €12,993 | +€4,180 | +47.4% |
| Other operating charges | 640/8 | €1,621 | €1,590 | -€31 | -1.9% |
| Gross operating margin | 9900 | €31,256 | €26,354 | -€4,902 | -15.7% |
| Operating profit (loss) | 9901 | €16,422 | €11,771 | -€4,651 | -28.3% |
| Financial income | 75/76B | €1,435 | €53 | -€1,383 | -96.3% |
| Recurring financial income | 75 | €1,435 | €53 | -€1,383 | -96.3% |
| Financial charges | 65/66B | €662 | €775 | +€113 | +17.0% |
| Recurring financial charges | 65 | €662 | €775 | +€113 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €17,195 | €11,048 | -€6,147 | -35.7% |
| Income taxes | 67/77 | €6,215 | €4,079 | -€2,136 | -34.4% |
| Profit (loss) for the period | 9904 | €10,980 | €6,970 | -€4,011 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,980 | €6,970 | -€4,011 | -36.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.