NLD: 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.
NLD
Largest movements
- Deferred charges and accrued income -€23,173
no longer reported in 2025 (was €23,173)
- Tangible fixed assets -€10,576
down €10,576 (-17.1%), from €61,815 to €51,240
of which Furniture and vehicles: -€12,000
- Receivables within one year -€4,528
down €4,528 (-18.1%), from €25,069 to €20,542
of which Trade receivables: -€4,528
- Cash -€4,361
down €4,361 (-54.4%), from €8,014 to €3,654
mainly Other debts (-€25,203) and Net result for the year (-€10,299)
- Formation expenses +€1,400
new in 2025: €1,400
- Other debts -€25,203
down €25,203 (-72.8%), from €34,609 to €9,405
- Profit (loss) carried forward -€10,299
down €10,299, from €7,616 to -€2,683
- Trade debts -€5,958
down €5,958 (-37.4%), from €15,930 to €9,972
- Debts after one year -€4,676
down €4,676 (-10.5%), from €44,592 to €39,916
of which Financial debts: -€7,916
- Current portion of long-term debt +€4,015
up €4,015 (+42.1%), from €9,545 to €13,561
- Depreciation +€8,473
up €8,473 (+153.7%), from €5,511 to €13,985
- Financial charges +€3,537
up €3,537 (+154.6%), from €2,288 to €5,825
- Gross operating margin +€1,719
up €1,719 (+13.8%), from €12,468 to €14,187
- Other operating charges +€1,126
up €1,126 (+132.9%), from €847 to €1,973
- Taxes -€658
down €658 (-92.9%), from €708 to €50
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.
Cash bridge derived
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 | €124,358 | €84,016 | -€40,342 | -32.4% |
| Formation expenses | 20 | - | €1,400 | +€1,400 | |
| Fixed assets | 21/28 | €62,567 | €51,512 | -€11,056 | -17.7% |
| Intangible fixed assets | 21 | €752 | €272 | -€480 | -63.8% |
| Tangible fixed assets | 22/27 | €61,815 | €51,240 | -€10,576 | -17.1% |
| Land and buildings | 22 | €1,458 | €972 | -€486 | -33.4% |
| Plant, machinery and equipment | 23 | €3,833 | €2,815 | -€1,018 | -26.6% |
| Furniture and vehicles | 24 | €56,524 | €44,524 | -€12,000 | -21.2% |
| Other tangible fixed assets | 26 | - | €2,929 | +€2,929 | |
| Current assets | 29/58 | €61,791 | €31,104 | -€30,687 | -49.7% |
| Stocks and contracts in progress | 3 | €5,534 | €6,909 | +€1,375 | +24.8% |
| Stocks | 30/36 | €5,534 | €6,909 | +€1,375 | +24.8% |
| Amounts receivable within one year | 40/41 | €25,069 | €20,542 | -€4,528 | -18.1% |
| Trade receivables | 40 | €4,528 | €0 | -€4,528 | -100.0% |
| Other amounts receivable | 41 | €20,542 | €20,542 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,014 | €3,654 | -€4,361 | -54.4% |
| Deferred charges and accrued income | 490/1 | €23,173 | - | -€23,173 | |
| Total equity and liabilities | 10/49 | €124,358 | €84,016 | -€40,342 | -32.4% |
| Equity | 10/15 | €15,676 | €5,377 | -€10,299 | -65.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,616 | -€2,683 | -€10,299 | |
| Amounts payable | 17/49 | €108,682 | €78,639 | -€30,043 | -27.6% |
| Amounts payable after more than one year | 17 | €44,592 | €39,916 | -€4,676 | -10.5% |
| Financial debts | 170/4 | €44,592 | €36,676 | -€7,916 | -17.8% |
| Other amounts payable | 178/9 | - | €3,240 | +€3,240 | |
| Amounts payable within one year | 42/48 | €64,091 | €38,723 | -€25,367 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €9,545 | €13,561 | +€4,015 | +42.1% |
| Trade debts | 44 | €15,930 | €9,972 | -€5,958 | -37.4% |
| Suppliers | 440/4 | €15,930 | €9,972 | -€5,958 | -37.4% |
| Taxes, remuneration and social security | 45 | €4,007 | €5,785 | +€1,778 | +44.4% |
| Taxes | 450/3 | €4,007 | €5,785 | +€1,778 | +44.4% |
| Other amounts payable | 47/48 | €34,609 | €9,405 | -€25,203 | -72.8% |
| Non-recurring operating income | 76A | - | €7,827 | +€7,827 | |
| Remuneration, social security and pensions | 62 | - | €3 | +€3 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,511 | €13,985 | +€8,473 | +153.7% |
| Other operating charges | 640/8 | €847 | €1,973 | +€1,126 | +132.9% |
| Non-recurring operating charges | 66A | €3,413 | €2,650 | -€763 | -22.3% |
| Gross operating margin | 9900 | €12,468 | €14,187 | +€1,719 | +13.8% |
| Operating profit (loss) | 9901 | €2,697 | -€4,424 | -€7,121 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €2,288 | €5,825 | +€3,537 | +154.6% |
| Recurring financial charges | 65 | €2,288 | €5,825 | +€3,537 | +154.6% |
| Profit (loss) for the period before taxes | 9903 | €412 | -€10,249 | -€10,661 | |
| Income taxes | 67/77 | €708 | €50 | -€658 | -92.9% |
| Profit (loss) for the period | 9904 | -€296 | -€10,299 | -€10,003 | -3378.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€296 | -€10,299 | -€10,003 | -3378.8% |
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 9 October 2026 via checked.be.