NEDDINE: 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.
NEDDINE
Largest movements
- Receivables within one year +€34,988
up €34,988 (+22.5%), from €155,287 to €190,275
of which Other amounts receivable: +€37,645
- Cash -€26,221
down €26,221 (-42.5%), from €61,678 to €35,457
mainly Debts after one year (-€47,199) and Contributions, distributions and other (-€40,000)
- Trade debts +€51,951
up €51,951 (+172%), from €30,193 to €82,144
- Debts after one year -€47,199
down €47,199 (-8.4%), from €560,498 to €513,299
- Reserves +€31,088
up €31,088 (+4.5%), from €689,322 to €720,410
of which Distributable reserves: +€31,088
- Short-term financial debts -€25,000
down €25,000 (-25.0%), from €100,000 to €75,000
- Gross operating margin -€30,935
down €30,935 (-21.9%), from €141,412 to €110,478
- Financial charges +€10,149
up €10,149 (+58.0%), from €17,493 to €27,642
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 | €1,515,556 | €1,510,464 | -€5,091 | -0.3% |
| Fixed assets | 21/28 | €797,620 | €783,710 | -€13,909 | -1.7% |
| Tangible fixed assets | 22/27 | €797,620 | €783,710 | -€13,909 | -1.7% |
| Land and buildings | 22 | €792,296 | €776,633 | -€15,664 | -2.0% |
| Plant, machinery and equipment | 23 | €1,200 | €2,352 | +€1,152 | +96.0% |
| Furniture and vehicles | 24 | €4,123 | €4,726 | +€602 | +14.6% |
| Current assets | 29/58 | €717,936 | €726,754 | +€8,818 | +1.2% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €155,287 | €190,275 | +€34,988 | +22.5% |
| Trade receivables | 40 | €33,633 | €30,976 | -€2,657 | -7.9% |
| Other amounts receivable | 41 | €121,654 | €159,299 | +€37,645 | +30.9% |
| Cash at bank and in hand | 54/58 | €61,678 | €35,457 | -€26,221 | -42.5% |
| Deferred charges and accrued income | 490/1 | €971 | €1,022 | +€51 | +5.3% |
| Total equity and liabilities | 10/49 | €1,515,556 | €1,510,464 | -€5,091 | -0.3% |
| Equity | 10/15 | €719,002 | €740,290 | +€21,288 | +3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €689,322 | €720,410 | +€31,088 | +4.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,627 | €21,627 | = | 0.0% |
| Distributable reserves | 133 | €665,836 | €696,924 | +€31,088 | +4.7% |
| Profit (loss) carried forward | 14 | €11,088 | €1,288 | -€9,800 | -88.4% |
| Amounts payable | 17/49 | €796,554 | €770,175 | -€26,379 | -3.3% |
| Amounts payable after more than one year | 17 | €560,498 | €513,299 | -€47,199 | -8.4% |
| Financial debts | 170/4 | €560,498 | €513,299 | -€47,199 | -8.4% |
| Amounts payable within one year | 42/48 | €236,056 | €256,875 | +€20,820 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €36,716 | €38,361 | +€1,645 | +4.5% |
| Financial debts | 43 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Credit institutions | 430/8 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Trade debts | 44 | €30,193 | €82,144 | +€51,951 | +172% |
| Suppliers | 440/4 | €30,193 | €82,144 | +€51,951 | +172% |
| Taxes, remuneration and social security | 45 | €19,146 | €21,370 | +€2,224 | +11.6% |
| Taxes | 450/3 | €19,146 | €21,370 | +€2,224 | +11.6% |
| Other amounts payable | 47/48 | €50,000 | €40,000 | -€10,000 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,022 | €23,987 | -€35 | -0.1% |
| Other operating charges | 640/8 | €552 | €274 | -€278 | -50.4% |
| Gross operating margin | 9900 | €141,412 | €110,478 | -€30,935 | -21.9% |
| Operating profit (loss) | 9901 | €116,839 | €86,217 | -€30,622 | -26.2% |
| Financial income | 75/76B | €23,074 | €22,646 | -€428 | -1.9% |
| Recurring financial income | 75 | €23,074 | €22,646 | -€428 | -1.9% |
| Financial charges | 65/66B | €17,493 | €27,642 | +€10,149 | +58.0% |
| Recurring financial charges | 65 | €17,493 | €27,642 | +€10,149 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €122,420 | €81,221 | -€41,199 | -33.7% |
| Income taxes | 67/77 | €21,332 | €19,933 | -€1,398 | -6.6% |
| Profit (loss) for the period | 9904 | €101,088 | €61,288 | -€39,800 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,088 | €61,288 | -€39,800 | -39.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.