NODU: 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.
NODU
Largest movements
- Tangible fixed assets +€771,435
up €771,435 (+20116.6%), from €3,835 to €775,269
of which Plant, machinery and equipment: +€715,717
- Receivables within one year +€126,826
up €126,826 (+392.4%), from €32,323 to €159,149
of which Other amounts receivable: +€81,742
- Cash +€125,345
up €125,345 (+355.6%), from €35,253 to €160,598
mainly Net result for the year (+€445,919) and Other debts (+€382,098)
- Deferred charges and accrued income +€23,046
up €23,046 (+2280.1%), from €1,011 to €24,056
- Profit (loss) carried forward +€445,919
up €445,919, from -€340,953 to €104,966
- Other debts +€382,098
up €382,098 (+2288.6%), from €16,696 to €398,794
- Trade debts +€293,351
up €293,351 (+126.2%), from €232,417 to €525,767
- Debts after one year -€117,400
no longer reported in 2025 (was €117,400)
- Accrued charges and deferred income +€23,893
new in 2025: €23,893
- Gross operating margin +€616,327
up €616,327, from -€136,653 to €479,674
- Depreciation -€21,054
down €21,054 (-64.0%), from €32,919 to €11,865
- Taxes +€16,728
new in 2025: €16,728
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 | €87,434 | €1,131,968 | +€1.0m | +1194.7% |
| Fixed assets | 21/28 | €4,015 | €775,449 | +€771,435 | +19214.7% |
| Tangible fixed assets | 22/27 | €3,835 | €775,269 | +€771,435 | +20116.6% |
| Land and buildings | 22 | €944 | €0 | -€944 | -100.0% |
| Plant, machinery and equipment | 23 | €922 | €716,639 | +€715,717 | +77616.5% |
| Leasing and similar rights | 25 | €1,969 | €3,262 | +€1,294 | +65.7% |
| Other tangible fixed assets | 26 | - | €55,368 | +€55,368 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €83,419 | €356,518 | +€273,099 | +327.4% |
| Stocks and contracts in progress | 3 | €14,833 | €12,715 | -€2,118 | -14.3% |
| Stocks | 30/36 | €14,833 | €12,715 | -€2,118 | -14.3% |
| Amounts receivable within one year | 40/41 | €32,323 | €159,149 | +€126,826 | +392.4% |
| Trade receivables | 40 | - | €45,084 | +€45,084 | |
| Other amounts receivable | 41 | €32,323 | €114,064 | +€81,742 | +252.9% |
| Cash at bank and in hand | 54/58 | €35,253 | €160,598 | +€125,345 | +355.6% |
| Deferred charges and accrued income | 490/1 | €1,011 | €24,056 | +€23,046 | +2280.1% |
| Total equity and liabilities | 10/49 | €87,434 | €1,131,968 | +€1.0m | +1194.7% |
| Equity | 10/15 | -€279,079 | €166,840 | +€445,919 | |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Capital | 10 | €60,000 | €60,000 | = | 0.0% |
| Issued capital | 100 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €1,874 | €1,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €295 | €295 | = | 0.0% |
| Legal reserve | 130 | €120 | €120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €175 | €175 | = | 0.0% |
| Distributable reserves | 133 | €1,579 | €1,579 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€340,953 | €104,966 | +€445,919 | |
| Amounts payable | 17/49 | €366,513 | €965,128 | +€598,615 | +163.3% |
| Amounts payable after more than one year | 17 | €117,400 | - | -€117,400 | |
| Other amounts payable | 178/9 | €117,400 | - | -€117,400 | |
| Amounts payable within one year | 42/48 | €249,113 | €941,235 | +€692,122 | +277.8% |
| Trade debts | 44 | €232,417 | €525,767 | +€293,351 | +126.2% |
| Suppliers | 440/4 | €232,417 | €525,767 | +€293,351 | +126.2% |
| Taxes, remuneration and social security | 45 | - | €16,674 | +€16,674 | |
| Taxes | 450/3 | - | €16,674 | +€16,674 | |
| Other amounts payable | 47/48 | €16,696 | €398,794 | +€382,098 | +2288.6% |
| Accrued charges and deferred income | 492/3 | - | €23,893 | +€23,893 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,919 | €11,865 | -€21,054 | -64.0% |
| Gross operating margin | 9900 | -€136,653 | €479,674 | +€616,327 | |
| Operating profit (loss) | 9901 | -€169,572 | €467,809 | +€637,382 | |
| Financial income | 75/76B | €4 | €6 | +€2 | +46.5% |
| Recurring financial income | 75 | €4 | €6 | +€2 | +46.5% |
| Financial charges | 65/66B | €2,039 | €5,168 | +€3,129 | +153.5% |
| Recurring financial charges | 65 | €2,039 | €5,168 | +€3,129 | +153.5% |
| Profit (loss) for the period before taxes | 9903 | -€171,607 | €462,647 | +€634,254 | |
| Income taxes | 67/77 | - | €16,728 | +€16,728 | |
| Profit (loss) for the period | 9904 | -€171,607 | €445,919 | +€617,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€171,607 | €445,919 | +€617,526 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.