NTD GROUP: 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.
NTD GROUP
Largest movements
- Cash -€225,989
down €225,989 (-76.6%), from €294,942 to €68,953
mainly Net result for the year (-€104,281) and Trade debts (-€52,669)
- Receivables within one year +€50,790
up €50,790 (+128.2%), from €39,628 to €90,418
of which Other amounts receivable: +€33,673
- Tangible fixed assets +€12,249
up €12,249 (+317.7%), from €3,855 to €16,105
of which Plant, machinery and equipment: +€11,282
- Profit (loss) carried forward -€104,281
down €104,281, from €1,278 to -€103,003
- Trade debts -€52,669
down €52,669 (-78.9%), from €66,793 to €14,124
- Other debts -€6,000
down €6,000 (-3.8%), from €156,880 to €150,880
- Gross operating margin -€331,334
down €331,334, from €235,159 to -€96,175
- Financial charges -€25,676
down €25,676 (-92.5%), from €27,743 to €2,067
- Taxes -€7,933
no longer reported in 2025 (was €7,933)
- Other operating charges -€5,958
down €5,958 (-68.6%), from €8,680 to €2,722
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 | €338,425 | €175,475 | -€162,950 | -48.1% |
| Fixed assets | 21/28 | €3,855 | €16,105 | +€12,249 | +317.7% |
| Tangible fixed assets | 22/27 | €3,855 | €16,105 | +€12,249 | +317.7% |
| Plant, machinery and equipment | 23 | €1,126 | €12,408 | +€11,282 | +1001.7% |
| Furniture and vehicles | 24 | €2,729 | €3,696 | +€968 | +35.5% |
| Current assets | 29/58 | €334,570 | €159,371 | -€175,199 | -52.4% |
| Amounts receivable within one year | 40/41 | €39,628 | €90,418 | +€50,790 | +128.2% |
| Trade receivables | 40 | €10,343 | €27,460 | +€17,116 | +165.5% |
| Other amounts receivable | 41 | €29,285 | €62,958 | +€33,673 | +115.0% |
| Cash at bank and in hand | 54/58 | €294,942 | €68,953 | -€225,989 | -76.6% |
| Total equity and liabilities | 10/49 | €338,425 | €175,475 | -€162,950 | -48.1% |
| Equity | 10/15 | €19,878 | -€84,403 | -€104,281 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,278 | -€103,003 | -€104,281 | |
| Amounts payable | 17/49 | €318,547 | €259,879 | -€58,669 | -18.4% |
| Amounts payable after more than one year | 17 | €94,875 | €94,875 | = | 0.0% |
| Financial debts | 170/4 | €94,875 | €94,875 | = | 0.0% |
| Amounts payable within one year | 42/48 | €223,672 | €165,004 | -€58,669 | -26.2% |
| Trade debts | 44 | €66,793 | €14,124 | -€52,669 | -78.9% |
| Suppliers | 440/4 | €66,793 | €14,124 | -€52,669 | -78.9% |
| Other amounts payable | 47/48 | €156,880 | €150,880 | -€6,000 | -3.8% |
| Non-recurring operating income | 76A | €289,127 | - | -€289,127 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,608 | €2,413 | -€2,194 | -47.6% |
| Other operating charges | 640/8 | €8,680 | €2,722 | -€5,958 | -68.6% |
| Non-recurring operating charges | 66A | - | €929 | +€929 | |
| Gross operating margin | 9900 | €235,159 | -€96,175 | -€331,334 | |
| Operating profit (loss) | 9901 | €221,871 | -€102,239 | -€324,111 | |
| Financial income | 75/76B | - | €25 | +€25 | |
| Recurring financial income | 75 | - | €25 | +€25 | |
| Financial charges | 65/66B | €27,743 | €2,067 | -€25,676 | -92.5% |
| Recurring financial charges | 65 | €27,743 | €2,067 | -€25,676 | -92.5% |
| Profit (loss) for the period before taxes | 9903 | €194,128 | -€104,281 | -€298,410 | |
| Income taxes | 67/77 | €7,933 | - | -€7,933 | |
| Profit (loss) for the period | 9904 | €186,195 | -€104,281 | -€290,476 | |
| Profit (loss) for the period to be appropriated | 9905 | €186,195 | -€104,281 | -€290,476 |
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 2 October 2026 via checked.be.