NRDS: 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.
NRDS
Largest movements
- Receivables within one year -€33,187
down €33,187 (-61.5%), from €54,005 to €20,818
of which Trade receivables: -€29,634
- Cash +€22,005
up €22,005 (+64.6%), from €34,057 to €56,061
mainly Receivables within one year (+€33,187) and Investment in fixed assets (net) (+€11,821)
- Tangible fixed assets -€18,316
down €18,316 (-59.4%), from €30,860 to €12,543
of which Furniture and vehicles: -€19,276
- Deferred charges and accrued income -€3,088
down €3,088 (-44.7%), from €6,908 to €3,820
- Intangible fixed assets -€1,385
down €1,385 (-26.0%), from €5,334 to €3,949
- Reserves -€12,991
down €12,991 (-13.3%), from €97,883 to €84,892
- Tax, wage and social debts -€9,899
down €9,899 (-67.9%), from €14,590 to €4,691
of which Taxes: -€9,899
- Debts after one year -€5,968
down €5,968 (-100.0%), from €5,968 to €0
- Current portion of long-term debt -€3,745
down €3,745 (-100.0%), from €3,745 to €0
- Trade debts -€1,608
down €1,608 (-59.9%), from €2,686 to €1,078
- Gross operating margin -€107,169
down €107,169 (-91.4%), from €117,218 to €10,049
- Staff costs -€104,402
down €104,402, from €104,205 to -€197
- Depreciation -€16,536
down €16,536 (-67.7%), from €24,417 to €7,881
- Financial charges -€3,382
down €3,382 (-57.5%), from €5,886 to €2,503
of which Financial charges: -€3,382
- Other operating charges -€1,751
down €1,751 (-57.5%), from €3,043 to €1,293
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 | €131,164 | €97,192 | -€33,972 | -25.9% |
| Fixed assets | 21/28 | €36,194 | €16,493 | -€19,702 | -54.4% |
| Intangible fixed assets | 21 | €5,334 | €3,949 | -€1,385 | -26.0% |
| Tangible fixed assets | 22/27 | €30,860 | €12,543 | -€18,316 | -59.4% |
| Plant, machinery and equipment | 23 | €228 | €1,188 | +€960 | +420.6% |
| Furniture and vehicles | 24 | €30,632 | €11,356 | -€19,276 | -62.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €94,970 | €80,699 | -€14,271 | -15.0% |
| Amounts receivable within one year | 40/41 | €54,005 | €20,818 | -€33,187 | -61.5% |
| Trade receivables | 40 | €38,182 | €8,548 | -€29,634 | -77.6% |
| Other amounts receivable | 41 | €15,823 | €12,269 | -€3,553 | -22.5% |
| Cash at bank and in hand | 54/58 | €34,057 | €56,061 | +€22,005 | +64.6% |
| Deferred charges and accrued income | 490/1 | €6,908 | €3,820 | -€3,088 | -44.7% |
| Total equity and liabilities | 10/49 | €131,164 | €97,192 | -€33,972 | -25.9% |
| Equity | 10/15 | €104,087 | €91,096 | -€12,991 | -12.5% |
| Contributions | 10/11 | €6,204 | €6,204 | = | 0.0% |
| Reserves | 13 | €97,883 | €84,892 | -€12,991 | -13.3% |
| Distributable reserves | 133 | €97,883 | €84,892 | -€12,991 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €27,077 | €6,096 | -€20,981 | -77.5% |
| Amounts payable after more than one year | 17 | €5,968 | €0 | -€5,968 | -100.0% |
| Financial debts | 170/4 | €5,968 | €0 | -€5,968 | -100.0% |
| Amounts payable within one year | 42/48 | €21,109 | €6,096 | -€15,013 | -71.1% |
| Current portion of amounts payable after more than one year | 42 | €3,745 | €0 | -€3,745 | -100.0% |
| Financial debts | 43 | €34 | €273 | +€239 | +702.2% |
| Credit institutions | 430/8 | €34 | €273 | +€239 | +702.2% |
| Trade debts | 44 | €2,686 | €1,078 | -€1,608 | -59.9% |
| Suppliers | 440/4 | €2,686 | €1,078 | -€1,608 | -59.9% |
| Taxes, remuneration and social security | 45 | €14,590 | €4,691 | -€9,899 | -67.9% |
| Taxes | 450/3 | €14,590 | €4,691 | -€9,899 | -67.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €55 | €55 | = | 0.0% |
| Non-recurring operating income | 76A | €22,484 | €0 | -€22,484 | -100.0% |
| Remuneration, social security and pensions | 62 | €104,205 | -€197 | -€104,402 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,417 | €7,881 | -€16,536 | -67.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,043 | €1,293 | -€1,751 | -57.5% |
| Non-recurring operating charges | 66A | €16,062 | €11,389 | -€4,673 | -29.1% |
| Gross operating margin | 9900 | €117,218 | €10,049 | -€107,169 | -91.4% |
| Operating profit (loss) | 9901 | -€30,510 | -€10,317 | +€20,193 | +66.2% |
| Financial income | 75/76B | €8 | €0 | -€8 | -100.0% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -100.0% |
| Financial charges | 65/66B | €5,886 | €2,503 | -€3,382 | -57.5% |
| Recurring financial charges | 65 | €5,886 | €2,503 | -€3,382 | -57.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€36,387 | -€12,820 | +€23,567 | +64.8% |
| Income taxes | 67/77 | €798 | €171 | -€627 | -78.6% |
| Profit (loss) for the period | 9904 | -€37,186 | -€12,991 | +€24,195 | +65.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,186 | -€12,991 | +€24,195 | +65.1% |
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 4 October 2026 via checked.be.