NTLD PROJECTS: 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 PROJECTS
Largest movements
- Cash +€44,466
up €44,466 (+130%), from €34,081 to €78,547
mainly Net result for the year (+€50,001) and Depreciation (+€13,700)
- Receivables within one year +€31,180
up €31,180 (+80.4%), from €38,776 to €69,955
of which Other amounts receivable: +€33,250
- Tangible fixed assets -€23,004
down €23,004 (-39.1%), from €58,867 to €35,864
of which Furniture and vehicles: -€14,930
- Deferred charges and accrued income -€4,081
down €4,081 (-77.8%), from €5,244 to €1,163
- Stocks and contracts +€3,183
up €3,183 (+49.3%), from €6,457 to €9,640
- Reserves +€49,168
up €49,168 (+52.5%), from €93,591 to €142,759
- Trade debts +€7,959
up €7,959 (+554%), from €1,437 to €9,396
- Current portion of long-term debt -€7,422
down €7,422 (-54.8%), from €13,553 to €6,131
- Tax, wage and social debts +€6,381
up €6,381 (+34.7%), from €18,380 to €24,761
- Debts after one year -€4,475
down €4,475 (-77.5%), from €5,771 to €1,296
- Gross operating margin +€14,906
up €14,906 (+23.4%), from €63,834 to €78,740
- Taxes +€3,759
up €3,759 (+41.0%), from €9,157 to €12,916
- Depreciation -€3,313
down €3,313 (-19.5%), from €17,013 to €13,700
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 | €143,533 | €195,176 | +€51,644 | +36.0% |
| Fixed assets | 21/28 | €58,976 | €35,872 | -€23,104 | -39.2% |
| Intangible fixed assets | 21 | €108 | €8 | -€100 | -92.2% |
| Tangible fixed assets | 22/27 | €58,867 | €35,864 | -€23,004 | -39.1% |
| Plant, machinery and equipment | 23 | €9,750 | €7,626 | -€2,125 | -21.8% |
| Furniture and vehicles | 24 | €24,826 | €9,896 | -€14,930 | -60.1% |
| Leasing and similar rights | 25 | €24,291 | €18,342 | -€5,949 | -24.5% |
| Current assets | 29/58 | €84,557 | €159,304 | +€74,747 | +88.4% |
| Stocks and contracts in progress | 3 | €6,457 | €9,640 | +€3,183 | +49.3% |
| Stocks | 30/36 | €6,457 | €9,640 | +€3,183 | +49.3% |
| Amounts receivable within one year | 40/41 | €38,776 | €69,955 | +€31,180 | +80.4% |
| Trade receivables | 40 | €14,276 | €12,206 | -€2,070 | -14.5% |
| Other amounts receivable | 41 | €24,500 | €57,749 | +€33,250 | +136% |
| Cash at bank and in hand | 54/58 | €34,081 | €78,547 | +€44,466 | +130% |
| Deferred charges and accrued income | 490/1 | €5,244 | €1,163 | -€4,081 | -77.8% |
| Total equity and liabilities | 10/49 | €143,533 | €195,176 | +€51,644 | +36.0% |
| Equity | 10/15 | €103,591 | €152,759 | +€49,168 | +47.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €93,591 | €142,759 | +€49,168 | +52.5% |
| Distributable reserves | 133 | €93,591 | €142,759 | +€49,168 | +52.5% |
| Amounts payable | 17/49 | €39,941 | €42,418 | +€2,476 | +6.2% |
| Amounts payable after more than one year | 17 | €5,771 | €1,296 | -€4,475 | -77.5% |
| Financial debts | 170/4 | €5,771 | €1,296 | -€4,475 | -77.5% |
| Amounts payable within one year | 42/48 | €34,170 | €41,121 | +€6,951 | +20.3% |
| Current portion of amounts payable after more than one year | 42 | €13,553 | €6,131 | -€7,422 | -54.8% |
| Trade debts | 44 | €1,437 | €9,396 | +€7,959 | +554% |
| Suppliers | 440/4 | €1,437 | €9,396 | +€7,959 | +554% |
| Taxes, remuneration and social security | 45 | €18,380 | €24,761 | +€6,381 | +34.7% |
| Taxes | 450/3 | €18,380 | €24,761 | +€6,381 | +34.7% |
| Other amounts payable | 47/48 | €800 | €833 | +€33 | +4.1% |
| Non-recurring operating income | 76A | - | €293 | +€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,013 | €13,700 | -€3,313 | -19.5% |
| Other operating charges | 640/8 | €1,819 | €1,698 | -€121 | -6.7% |
| Gross operating margin | 9900 | €63,834 | €78,740 | +€14,906 | +23.4% |
| Operating profit (loss) | 9901 | €45,003 | €63,343 | +€18,341 | +40.8% |
| Financial income | 75/76B | €0 | €277 | +€277 | +72,811% |
| Recurring financial income | 75 | €0 | €277 | +€277 | +72,811% |
| Financial charges | 65/66B | €1,347 | €704 | -€643 | -47.7% |
| Recurring financial charges | 65 | €1,347 | €704 | -€643 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €43,656 | €62,916 | +€19,260 | +44.1% |
| Income taxes | 67/77 | €9,157 | €12,916 | +€3,759 | +41.0% |
| Profit (loss) for the period | 9904 | €34,499 | €50,001 | +€15,501 | +44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,499 | €50,001 | +€15,501 | +44.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.