NTLD: 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.
NTLD
Largest movements
- Tangible fixed assets -€35,027
down €35,027 (-12.8%), from €273,569 to €238,542
of which Furniture and vehicles: -€19,159
- Cash +€9,108
up €9,108 (+14.9%), from €61,220 to €70,327
mainly Other debts (+€58,620) and Depreciation (+€36,894)
- Other debts +€58,620
up €58,620, from €0 to €58,620
- Debts after one year -€31,079
down €31,079 (-25.1%), from €123,990 to €92,910
- Reserves -€26,159
down €26,159 (-14.0%), from €186,333 to €160,174
- Current portion of long-term debt -€14,593
down €14,593 (-32.0%), from €45,672 to €31,079
- Tax, wage and social debts -€10,442
down €10,442 (-33.6%), from €31,096 to €20,655
of which Taxes: -€6,442
- Gross operating margin -€17,232
down €17,232 (-9.7%), from €178,115 to €160,883
- Staff costs -€5,175
down €5,175 (-7.1%), from €73,116 to €67,941
- Taxes -€2,683
down €2,683 (-14.3%), from €18,741 to €16,058
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,880 | €379,436 | -€23,443 | -5.8% |
| Fixed assets | 21/28 | €273,685 | €238,542 | -€35,143 | -12.8% |
| Intangible fixed assets | 21 | €116 | €0 | -€116 | -100% |
| Tangible fixed assets | 22/27 | €273,569 | €238,542 | -€35,027 | -12.8% |
| Land and buildings | 22 | €209,256 | €195,329 | -€13,927 | -6.7% |
| Plant, machinery and equipment | 23 | €3,298 | €1,358 | -€1,941 | -58.8% |
| Furniture and vehicles | 24 | €61,014 | €41,855 | -€19,159 | -31.4% |
| Current assets | 29/58 | €129,194 | €140,894 | +€11,700 | +9.1% |
| Stocks and contracts in progress | 3 | €36,647 | €36,120 | -€528 | -1.4% |
| Stocks | 30/36 | €36,647 | €36,120 | -€528 | -1.4% |
| Amounts receivable within one year | 40/41 | €27,979 | €28,827 | +€847 | +3.0% |
| Trade receivables | 40 | €20,271 | €20,239 | -€32 | -0.2% |
| Other amounts receivable | 41 | €7,708 | €8,588 | +€879 | +11.4% |
| Cash at bank and in hand | 54/58 | €61,220 | €70,327 | +€9,108 | +14.9% |
| Deferred charges and accrued income | 490/1 | €3,348 | €5,620 | +€2,272 | +67.9% |
| Total equity and liabilities | 10/49 | €402,880 | €379,436 | -€23,443 | -5.8% |
| Equity | 10/15 | €192,612 | €166,453 | -€26,159 | -13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,333 | €160,174 | -€26,159 | -14.0% |
| Distributable reserves | 133 | €186,333 | €160,174 | -€26,159 | -14.0% |
| Profit (loss) carried forward | 14 | €79 | €79 | = | 0.0% |
| Amounts payable | 17/49 | €210,267 | €212,983 | +€2,716 | +1.3% |
| Amounts payable after more than one year | 17 | €123,990 | €92,910 | -€31,079 | -25.1% |
| Financial debts | 170/4 | €123,990 | €92,910 | -€31,079 | -25.1% |
| Amounts payable within one year | 42/48 | €86,277 | €120,072 | +€33,795 | +39.2% |
| Current portion of amounts payable after more than one year | 42 | €45,672 | €31,079 | -€14,593 | -32.0% |
| Trade debts | 44 | €9,509 | €9,718 | +€210 | +2.2% |
| Suppliers | 440/4 | €9,509 | €9,718 | +€210 | +2.2% |
| Taxes, remuneration and social security | 45 | €31,096 | €20,655 | -€10,442 | -33.6% |
| Taxes | 450/3 | €22,751 | €16,309 | -€6,442 | -28.3% |
| Remuneration and social security | 454/9 | €8,345 | €4,346 | -€3,999 | -47.9% |
| Other amounts payable | 47/48 | €0 | €58,620 | +€58,620 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €14,741 | €0 | -€14,741 | -100% |
| Remuneration, social security and pensions | 62 | €73,116 | €67,941 | -€5,175 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,610 | €36,894 | +€1,285 | +3.6% |
| Other operating charges | 640/8 | €682 | €455 | -€227 | -33.3% |
| Gross operating margin | 9900 | €178,115 | €160,883 | -€17,232 | -9.7% |
| Operating profit (loss) | 9901 | €68,708 | €55,593 | -€13,115 | -19.1% |
| Financial income | 75/76B | €1,238 | €1,404 | +€166 | +13.4% |
| Recurring financial income | 75 | €1,238 | €1,404 | +€166 | +13.4% |
| Financial charges | 65/66B | €4,885 | €4,949 | +€65 | +1.3% |
| Recurring financial charges | 65 | €4,885 | €4,949 | +€65 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €65,062 | €52,048 | -€13,014 | -20.0% |
| Income taxes | 67/77 | €18,741 | €16,058 | -€2,683 | -14.3% |
| Profit (loss) for the period | 9904 | €46,321 | €35,990 | -€10,331 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,321 | €35,990 | -€10,331 | -22.3% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.