NEDCAP: 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.
NEDCAP
Largest movements
- Tangible fixed assets -€65,294
down €65,294 (-11.7%), from €556,251 to €490,957
- Deferred charges and accrued income +€32,409
up €32,409 (+124%), from €26,068 to €58,477
- Debts after one year +€215,166
up €215,166 (+21.3%), from €1.0m to €1.2m
of which Financial debts: +€215,166
- Other debts -€164,349
down €164,349 (-100%), from €164,349 to €0
- Current portion of long-term debt -€62,278
down €62,278 (-48.0%), from €129,656 to €67,378
- Trade debts -€9,062
down €9,062 (-88.8%), from €10,201 to €1,139
- Profit (loss) carried forward -€8,268
down €8,268 (-0.7%), from -€1.2m to -€1.2m
- Write-downs -€69,514
down €69,514 (-100%), from €69,514 to €0
- Gross operating margin +€24,600
up €24,600 (+35.2%), from €69,856 to €94,455
- Other operating charges -€3,838
down €3,838 (-45.6%), from €8,426 to €4,588
- Financial charges -€3,237
down €3,237 (-9.0%), from €36,085 to €32,848
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €598,430 | €569,638 | -€28,792 | -4.8% |
| Fixed assets | 21/28 | €556,251 | €490,957 | -€65,294 | -11.7% |
| Tangible fixed assets | 22/27 | €556,251 | €490,957 | -€65,294 | -11.7% |
| Leasing and similar rights | 25 | €556,251 | €490,957 | -€65,294 | -11.7% |
| Current assets | 29/58 | €42,179 | €78,681 | +€36,502 | +86.5% |
| Amounts receivable within one year | 40/41 | €584 | €659 | +€75 | +12.9% |
| Trade receivables | 40 | €584 | €659 | +€75 | +12.9% |
| Cash at bank and in hand | 54/58 | €15,528 | €19,545 | +€4,018 | +25.9% |
| Deferred charges and accrued income | 490/1 | €26,068 | €58,477 | +€32,409 | +124% |
| Total equity and liabilities | 10/49 | €598,430 | €569,638 | -€28,792 | -4.8% |
| Equity | 10/15 | -€714,153 | -€722,421 | -€8,268 | -1.2% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,214,153 | -€1,222,421 | -€8,268 | -0.7% |
| Amounts payable | 17/49 | €1,312,583 | €1,292,060 | -€20,524 | -1.6% |
| Amounts payable after more than one year | 17 | €1,008,378 | €1,223,543 | +€215,166 | +21.3% |
| Financial debts | 170/4 | €1,008,378 | €1,223,543 | +€215,166 | +21.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €304,206 | €68,516 | -€235,689 | -77.5% |
| Current portion of amounts payable after more than one year | 42 | €129,656 | €67,378 | -€62,278 | -48.0% |
| Trade debts | 44 | €10,201 | €1,139 | -€9,062 | -88.8% |
| Suppliers | 440/4 | €10,201 | €1,139 | -€9,062 | -88.8% |
| Other amounts payable | 47/48 | €164,349 | €0 | -€164,349 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,294 | €65,294 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €69,514 | €0 | -€69,514 | -100% |
| Other operating charges | 640/8 | €8,426 | €4,588 | -€3,838 | -45.6% |
| Gross operating margin | 9900 | €69,856 | €94,455 | +€24,600 | +35.2% |
| Operating profit (loss) | 9901 | -€73,378 | €24,574 | +€97,952 | |
| Financial income | 75/76B | €585 | €6 | -€579 | -99.0% |
| Recurring financial income | 75 | €585 | €6 | -€579 | -99.0% |
| Financial charges | 65/66B | €36,085 | €32,848 | -€3,237 | -9.0% |
| Recurring financial charges | 65 | €36,085 | €32,848 | -€3,237 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€108,878 | -€8,268 | +€100,610 | +92.4% |
| Profit (loss) for the period | 9904 | -€108,878 | -€8,268 | +€100,610 | +92.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€108,878 | -€8,268 | +€100,610 | +92.4% |
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.