NL&D: 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.
NL&D
Largest movements
- Receivables after one year -€80,000
down €80,000 (-34.8%), from €230,000 to €150,000
- Receivables within one year +€71,688
up €71,688 (+101.2%), from €70,804 to €142,491
of which Other amounts receivable: +€73,201
- Tangible fixed assets -€45,138
down €45,138 (-5.6%), from €810,294 to €765,156
of which Land and buildings: -€33,304
- Cash -€18,554
down €18,554 (-11.4%), from €162,480 to €143,926
mainly Contributions, distributions and other (-€86,484) and Receivables within one year (-€71,688)
- Debts after one year -€59,970
down €59,970 (-10.1%), from €595,005 to €535,035
- Trade debts +€37,203
up €37,203 (+296.5%), from €12,549 to €49,751
- Current portion of long-term debt -€31,895
down €31,895 (-32.9%), from €96,914 to €65,020
- Reserves -€20,440
down €20,440 (-3.2%), from €632,125 to €611,685
- Gross operating margin +€8,849
up €8,849 (+6.1%), from €145,989 to €154,838
- Depreciation -€7,255
down €7,255 (-13.8%), from €52,394 to €45,138
- Taxes +€6,617
up €6,617 (+28.2%), from €23,457 to €30,074
- Other operating charges -€3,925
down €3,925 (-44.1%), from €8,899 to €4,975
- Financial charges -€2,363
down €2,363 (-14.6%), from €16,151 to €13,789
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,371,484 | €1,300,490 | -€70,995 | -5.2% |
| Fixed assets | 21/28 | €821,094 | €775,956 | -€45,138 | -5.5% |
| Tangible fixed assets | 22/27 | €810,294 | €765,156 | -€45,138 | -5.6% |
| Land and buildings | 22 | €782,668 | €749,364 | -€33,304 | -4.3% |
| Plant, machinery and equipment | 23 | €4,411 | €2,504 | -€1,907 | -43.2% |
| Furniture and vehicles | 24 | €22,323 | €12,842 | -€9,481 | -42.5% |
| Other tangible fixed assets | 26 | €891 | €446 | -€446 | -50.0% |
| Financial fixed assets | 28 | €10,800 | €10,800 | = | 0.0% |
| Current assets | 29/58 | €550,390 | €524,534 | -€25,856 | -4.7% |
| Amounts receivable after more than one year | 29 | €230,000 | €150,000 | -€80,000 | -34.8% |
| Other amounts receivable | 291 | €230,000 | €150,000 | -€80,000 | -34.8% |
| Amounts receivable within one year | 40/41 | €70,804 | €142,491 | +€71,688 | +101.2% |
| Trade receivables | 40 | €1,513 | - | -€1,513 | |
| Other amounts receivable | 41 | €69,290 | €142,491 | +€73,201 | +105.6% |
| Current investments | 50/53 | €87,016 | €88,023 | +€1,006 | +1.2% |
| Cash at bank and in hand | 54/58 | €162,480 | €143,926 | -€18,554 | -11.4% |
| Deferred charges and accrued income | 490/1 | €91 | €94 | +€4 | +4.2% |
| Total equity and liabilities | 10/49 | €1,371,484 | €1,300,490 | -€70,995 | -5.2% |
| Equity | 10/15 | €638,325 | €617,885 | -€20,440 | -3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €632,125 | €611,685 | -€20,440 | -3.2% |
| Distributable reserves | 133 | €632,125 | €611,685 | -€20,440 | -3.2% |
| Amounts payable | 17/49 | €733,159 | €682,605 | -€50,555 | -6.9% |
| Amounts payable after more than one year | 17 | €595,005 | €535,035 | -€59,970 | -10.1% |
| Financial debts | 170/4 | €595,005 | €535,035 | -€59,970 | -10.1% |
| Amounts payable within one year | 42/48 | €135,605 | €146,472 | +€10,867 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €96,914 | €65,020 | -€31,895 | -32.9% |
| Trade debts | 44 | €12,549 | €49,751 | +€37,203 | +296.5% |
| Suppliers | 440/4 | €12,549 | €49,751 | +€37,203 | +296.5% |
| Taxes, remuneration and social security | 45 | €24,250 | €30,035 | +€5,785 | +23.9% |
| Taxes | 450/3 | €24,250 | €30,035 | +€5,785 | +23.9% |
| Other amounts payable | 47/48 | €1,892 | €1,666 | -€226 | -12.0% |
| Accrued charges and deferred income | 492/3 | €2,549 | €1,097 | -€1,452 | -57.0% |
| Non-recurring operating income | 76A | €10,443 | - | -€10,443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,394 | €45,138 | -€7,255 | -13.8% |
| Other operating charges | 640/8 | €8,899 | €4,975 | -€3,925 | -44.1% |
| Non-recurring operating charges | 66A | €181 | - | -€181 | |
| Gross operating margin | 9900 | €145,989 | €154,838 | +€8,849 | +6.1% |
| Operating profit (loss) | 9901 | €84,515 | €104,724 | +€20,210 | +23.9% |
| Financial income | 75/76B | €6,280 | €5,182 | -€1,098 | -17.5% |
| Recurring financial income | 75 | €6,280 | €5,182 | -€1,098 | -17.5% |
| Financial charges | 65/66B | €16,151 | €13,789 | -€2,363 | -14.6% |
| Recurring financial charges | 65 | €16,151 | €13,789 | -€2,363 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €74,644 | €96,118 | +€21,474 | +28.8% |
| Income taxes | 67/77 | €23,457 | €30,074 | +€6,617 | +28.2% |
| Profit (loss) for the period | 9904 | €51,187 | €66,044 | +€14,857 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,187 | €66,044 | +€14,857 | +29.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.