NONDEDJU: 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.
What changed
NONDEDJU
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€52,994
2024 · €166,068-€219,062
Equity
€2.2m
2024 · €2.6m-€443,227
Cash
€15,136
2024 · €25,251-€10,116
Balance sheet total
€3.5m
2024 · €3.7m-€214,510
Largest movements
Assets
- Tangible fixed assets -€219,512
down €219,512 (-11.2%), from €2.0m to €1.7m
of which Furniture and vehicles: -€133,340
- Current investments -€179,546
down €179,546 (-26.5%), from €678,286 to €498,740
- Receivables after one year +€98,900
up €98,900 (+18.9%), from €522,000 to €620,900
- Financial fixed assets +€46,703
up €46,703 (+23.8%), from €195,853 to €242,556
Equity and liabilities
- Reserves -€443,227
down €443,227 (-17.2%), from €2.6m to €2.1m
of which Distributable reserves: -€293,447
- Other debts +€348,436
up €348,436 (+4,217%), from €8,263 to €356,699
- Debts after one year -€128,794
down €128,794 (-14.3%), from €900,831 to €772,038
Income statement
- Gross operating margin -€271,023
down €271,023 (-74.7%), from €362,581 to €91,558
- Taxes -€83,771
down €83,771 (-89.9%), from €93,159 to €9,388
- Depreciation +€14,896
up €14,896 (+15.4%), from €96,639 to €111,535
- Other operating charges +€8,325
up €8,325 (+532%), from €1,566 to €9,891
- Financial charges +€6,846
up €6,846 (+37.8%), from €18,089 to €24,935
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.
Result 2024
€166,068
Gross operating margin
-€271,023
Depreciation
-€14,896
Other operating charges
-€8,325
Other operating items
-€4,345
Financial income
+€2,211
Financial charges
-€6,846
Taxes
+€83,771
Deferred taxes and other
+€391
Result 2025
-€52,994
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€260,892
Investment
+€240,820
Financing
-€511,829
Cash 2024
€25,251
From operations (derived)
+€260,892
Net result for the year
-€52,994
Depreciation
+€111,535
Receivables after one year
-€98,900
Receivables within one year
-€27,301
Deferred charges and accrued income
-€21,761
Provisions
-€1,563
Trade debts
+€11,304
Tax, wage and social debts
-€7,302
Other debts
+€348,436
Accrued charges and deferred income
-€563
Investment (derived)
+€240,820
Investment in fixed assets (net)
+€61,274
Current investments
+€179,546
Financing
-€511,829
Debts after one year
-€128,794
Current portion of long-term debt
+€7,198
Contributions, distributions and other
-€390,233
Cash 2025
€15,136
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,682,287 | €3,467,777 | -€214,510 | -5.8% |
| Fixed assets | 21/28 | €2,150,234 | €1,977,425 | -€172,809 | -8.0% |
| Tangible fixed assets | 22/27 | €1,954,381 | €1,734,869 | -€219,512 | -11.2% |
| Land and buildings | 22 | €1,805,666 | €1,717,688 | -€87,978 | -4.9% |
| Plant, machinery and equipment | 23 | €709 | €2,516 | +€1,806 | +255% |
| Furniture and vehicles | 24 | €148,005 | €14,665 | -€133,340 | -90.1% |
| Financial fixed assets | 28 | €195,853 | €242,556 | +€46,703 | +23.8% |
| Current assets | 29/58 | €1,532,053 | €1,490,353 | -€41,701 | -2.7% |
| Amounts receivable after more than one year | 29 | €522,000 | €620,900 | +€98,900 | +18.9% |
| Other amounts receivable | 291 | €522,000 | €620,900 | +€98,900 | +18.9% |
| Amounts receivable within one year | 40/41 | €306,452 | €333,753 | +€27,301 | +8.9% |
| Trade receivables | 40 | €296,688 | €278,753 | -€17,935 | -6.0% |
| Other amounts receivable | 41 | €9,764 | €55,000 | +€45,236 | +463% |
| Current investments | 50/53 | €678,286 | €498,740 | -€179,546 | -26.5% |
| Cash at bank and in hand | 54/58 | €25,251 | €15,136 | -€10,116 | -40.1% |
| Deferred charges and accrued income | 490/1 | €63 | €21,824 | +€21,761 | +34,674% |
| Total equity and liabilities | 10/49 | €3,682,287 | €3,467,777 | -€214,510 | -5.8% |
| Equity | 10/15 | €2,610,194 | €2,166,968 | -€443,227 | -17.0% |
| Contributions | 10/11 | €34,369 | €34,369 | = | 0.0% |
| Reserves | 13 | €2,575,825 | €2,132,598 | -€443,227 | -17.2% |
| Tax-exempt reserves | 132 | €534,804 | €385,024 | -€149,780 | -28.0% |
| Distributable reserves | 133 | €2,041,021 | €1,747,574 | -€293,447 | -14.4% |
| Provisions and deferred taxes | 16 | €20,704 | €19,141 | -€1,563 | -7.5% |
| Deferred taxes | 168 | €20,704 | €19,141 | -€1,563 | -7.5% |
| Amounts payable | 17/49 | €1,051,389 | €1,281,668 | +€230,280 | +21.9% |
| Amounts payable after more than one year | 17 | €900,831 | €772,038 | -€128,794 | -14.3% |
| Financial debts | 170/4 | €900,831 | €772,038 | -€128,794 | -14.3% |
| Amounts payable within one year | 42/48 | €149,467 | €509,103 | +€359,636 | +241% |
| Current portion of amounts payable after more than one year | 42 | €121,596 | €128,794 | +€7,198 | +5.9% |
| Trade debts | 44 | €7,742 | €19,046 | +€11,304 | +146% |
| Suppliers | 440/4 | €7,742 | €19,046 | +€11,304 | +146% |
| Taxes, remuneration and social security | 45 | €11,866 | €4,565 | -€7,302 | -61.5% |
| Taxes | 450/3 | €9,872 | €4,565 | -€5,308 | -53.8% |
| Remuneration and social security | 454/9 | €1,994 | - | -€1,994 | |
| Other amounts payable | 47/48 | €8,263 | €356,699 | +€348,436 | +4,217% |
| Accrued charges and deferred income | 492/3 | €1,090 | €528 | -€563 | -51.6% |
| Non-recurring operating income | 76A | €15,050 | €62 | -€14,988 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,639 | €111,535 | +€14,896 | +15.4% |
| Other operating charges | 640/8 | €1,566 | €9,891 | +€8,325 | +532% |
| Non-recurring operating charges | 66A | - | €4,345 | +€4,345 | |
| Gross operating margin | 9900 | €362,581 | €91,558 | -€271,023 | -74.7% |
| Operating profit (loss) | 9901 | €264,375 | -€34,213 | -€298,589 | |
| Financial income | 75/76B | €11,769 | €13,980 | +€2,211 | +18.8% |
| Recurring financial income | 75 | €11,769 | €13,980 | +€2,211 | +18.8% |
| Financial charges | 65/66B | €18,089 | €24,935 | +€6,846 | +37.8% |
| Recurring financial charges | 65 | €18,089 | €24,935 | +€6,846 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €258,055 | -€45,168 | -€303,224 | |
| Transfer from deferred taxes | 780 | €1,172 | €1,563 | +€391 | +33.3% |
| Income taxes | 67/77 | €93,159 | €9,388 | -€83,771 | -89.9% |
| Profit (loss) for the period | 9904 | €166,068 | -€52,994 | -€219,062 | |
| Transfer from tax-exempt reserves | 789 | €151,308 | €149,780 | -€1,528 | -1.0% |
| Transfer to tax-exempt reserves | 689 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €233,175 | €96,786 | -€136,390 | -58.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.