NEDFONDS: what changed
What changed
NEDFONDS
filed annual accounts (NBB)
Net result for the year
€12,225
2024 · €4,753+€7,472
Equity
-€31,335
2024 · -€43,560+€12,225
Cash
€23
2024 · -+€23
Balance sheet total
€1.0m
2024 · €1.0m-€34,158
Largest movements
Assets
- Tangible fixed assets -€37,888
down €37,888 (-3.7%), from €1.0m to €998,159
Equity and liabilities
- Debts after one year -€34,895
down €34,895 (-17.1%), from €204,112 to €169,216
- Other debts -€15,872
down €15,872 (-1.9%), from €840,072 to €824,200
- Profit (loss) carried forward +€12,225
up €12,225 (+19.7%), from -€62,110 to -€49,885
Income statement
- Gross operating margin +€19,355
up €19,355 (+38.2%), from €50,650 to €70,005
- Other operating charges +€8,498
up €8,498 (+173%), from €4,923 to €13,421
- Taxes +€3,180
new in 2025: €3,180
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4,753
Gross operating margin
+€19,355
Depreciation
-€656
Other operating charges
-€8,498
Financial charges
+€451
Taxes
-€3,180
Result 2025
€12,225
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€34,906
Investment
€0
Financing
-€34,883
Cash 2024
€0
From operations (derived)
+€34,906
Net result for the year
+€12,225
Depreciation
+€37,888
Receivables within one year
-€2,762
Deferred charges and accrued income
-€944
Trade debts
+€874
Tax, wage and social debts
+€3,498
Other debts
-€15,872
Financing
-€34,883
Debts after one year
-€34,895
Current portion of long-term debt
+€468
Short-term financial debts
-€456
Cash 2025
€23
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,036,047 | €1,001,889 | -€34,158 | -3.3% |
| Fixed assets | 21/28 | €1,036,047 | €998,159 | -€37,888 | -3.7% |
| Tangible fixed assets | 22/27 | €1,036,047 | €998,159 | -€37,888 | -3.7% |
| Land and buildings | 22 | €1,036,047 | €998,159 | -€37,888 | -3.7% |
| Current assets | 29/58 | - | €3,730 | +€3,730 | |
| Amounts receivable within one year | 40/41 | - | €2,762 | +€2,762 | |
| Trade receivables | 40 | - | €2,762 | +€2,762 | |
| Cash at bank and in hand | 54/58 | - | €23 | +€23 | |
| Deferred charges and accrued income | 490/1 | - | €944 | +€944 | |
| Total equity and liabilities | 10/49 | €1,036,047 | €1,001,889 | -€34,158 | -3.3% |
| Equity | 10/15 | -€43,560 | -€31,335 | +€12,225 | +28.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,110 | -€49,885 | +€12,225 | +19.7% |
| Amounts payable | 17/49 | €1,079,607 | €1,033,223 | -€46,383 | -4.3% |
| Amounts payable after more than one year | 17 | €204,112 | €169,216 | -€34,895 | -17.1% |
| Financial debts | 170/4 | €204,112 | €169,216 | -€34,895 | -17.1% |
| Amounts payable within one year | 42/48 | €875,495 | €864,007 | -€11,488 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €34,428 | €34,895 | +€468 | +1.4% |
| Financial debts | 43 | €456 | €0 | -€456 | -100% |
| Credit institutions | 430/8 | €456 | €0 | -€456 | -100% |
| Trade debts | 44 | €540 | €1,414 | +€874 | +162% |
| Suppliers | 440/4 | €540 | €1,414 | +€874 | +162% |
| Taxes, remuneration and social security | 45 | - | €3,498 | +€3,498 | |
| Taxes | 450/3 | - | €3,498 | +€3,498 | |
| Other amounts payable | 47/48 | €840,072 | €824,200 | -€15,872 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,231 | €37,888 | +€656 | +1.8% |
| Other operating charges | 640/8 | €4,923 | €13,421 | +€8,498 | +173% |
| Gross operating margin | 9900 | €50,650 | €70,005 | +€19,355 | +38.2% |
| Operating profit (loss) | 9901 | €8,496 | €18,696 | +€10,200 | +120% |
| Financial charges | 65/66B | €3,742 | €3,291 | -€451 | -12.1% |
| Recurring financial charges | 65 | €3,742 | €3,291 | -€451 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €4,753 | €15,405 | +€10,652 | +224% |
| Income taxes | 67/77 | - | €3,180 | +€3,180 | |
| Profit (loss) for the period | 9904 | €4,753 | €12,225 | +€7,472 | +157% |
| Profit (loss) for the period to be appropriated | 9905 | €4,753 | €12,225 | +€7,472 | +157% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.