NEDORIA: 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.
NEDORIA
Largest movements
- Tangible fixed assets +€169,092
up €169,092 (+11,433%), from €1,479 to €170,571
of which Land and buildings: +€167,934
- Cash -€56,383
down €56,383 (-70.2%), from €80,363 to €23,981
mainly Investment in fixed assets (net) (-€172,783) and Receivables within one year (-€13,614)
- Receivables within one year +€13,614
up €13,614 (+109%), from €12,514 to €26,128
of which Other amounts receivable: +€11,654
- Deferred charges and accrued income -€2,538
down €2,538 (-72.1%), from €3,518 to €981
- Debts after one year +€110,000
new in 2025: €110,000
- Reserves +€9,900
up €9,900 (+16.9%), from €58,512 to €68,411
- Trade debts +€2,986
up €2,986 (+183%), from €1,628 to €4,614
- Other operating charges +€24,915
up €24,915 (+2,381%), from €1,047 to €25,961
- Taxes -€9,196
down €9,196 (-59.2%), from €15,543 to €6,346
- Gross operating margin -€4,242
down €4,242 (-8.0%), from €53,234 to €48,992
- Financial charges +€2,126
up €2,126 (+1,575%), from €135 to €2,261
- Depreciation +€2,094
up €2,094 (+131%), from €1,597 to €3,691
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 | €97,874 | €221,660 | +€123,786 | +126% |
| Fixed assets | 21/28 | €1,479 | €170,571 | +€169,092 | +11,433% |
| Tangible fixed assets | 22/27 | €1,479 | €170,571 | +€169,092 | +11,433% |
| Land and buildings | 22 | - | €167,934 | +€167,934 | |
| Furniture and vehicles | 24 | €1,479 | €2,637 | +€1,158 | +78.3% |
| Current assets | 29/58 | €96,395 | €51,089 | -€45,306 | -47.0% |
| Amounts receivable within one year | 40/41 | €12,514 | €26,128 | +€13,614 | +109% |
| Trade receivables | 40 | €12,514 | €14,475 | +€1,961 | +15.7% |
| Other amounts receivable | 41 | - | €11,654 | +€11,654 | |
| Cash at bank and in hand | 54/58 | €80,363 | €23,981 | -€56,383 | -70.2% |
| Deferred charges and accrued income | 490/1 | €3,518 | €981 | -€2,538 | -72.1% |
| Total equity and liabilities | 10/49 | €97,874 | €221,660 | +€123,786 | +126% |
| Equity | 10/15 | €63,512 | €73,411 | +€9,900 | +15.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €58,512 | €68,411 | +€9,900 | +16.9% |
| Distributable reserves | 133 | €58,512 | €68,411 | +€9,900 | +16.9% |
| Amounts payable | 17/49 | €34,362 | €148,249 | +€113,886 | +331% |
| Amounts payable after more than one year | 17 | - | €110,000 | +€110,000 | |
| Financial debts | 170/4 | - | €110,000 | +€110,000 | |
| Amounts payable within one year | 42/48 | €34,362 | €38,249 | +€3,886 | +11.3% |
| Trade debts | 44 | €1,628 | €4,614 | +€2,986 | +183% |
| Suppliers | 440/4 | €1,628 | €4,614 | +€2,986 | +183% |
| Taxes, remuneration and social security | 45 | €9,052 | €8,833 | -€220 | -2.4% |
| Taxes | 450/3 | €9,052 | €8,833 | -€220 | -2.4% |
| Other amounts payable | 47/48 | €23,682 | €24,802 | +€1,120 | +4.7% |
| Non-recurring operating income | 76A | - | €15,505 | +€15,505 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,597 | €3,691 | +€2,094 | +131% |
| Other operating charges | 640/8 | €1,047 | €25,961 | +€24,915 | +2,381% |
| Gross operating margin | 9900 | €53,234 | €48,992 | -€4,242 | -8.0% |
| Operating profit (loss) | 9901 | €50,591 | €19,340 | -€31,251 | -61.8% |
| Financial charges | 65/66B | €135 | €2,261 | +€2,126 | +1,575% |
| Recurring financial charges | 65 | €135 | €2,261 | +€2,126 | +1,575% |
| Profit (loss) for the period before taxes | 9903 | €50,456 | €17,079 | -€33,377 | -66.2% |
| Income taxes | 67/77 | €15,543 | €6,346 | -€9,196 | -59.2% |
| Profit (loss) for the period | 9904 | €34,913 | €10,733 | -€24,180 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,913 | €10,733 | -€24,180 | -69.3% |
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 17 October 2026 via checked.be.