NUDG: 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.
NUDG
Largest movements
- Cash +€32,990
up €32,990 (+50.6%), from €65,162 to €98,152
mainly Net result for the year (+€48,225) and Depreciation (+€1,836)
- Receivables within one year +€16,377
up €16,377 (+141.1%), from €11,605 to €27,981
of which Trade receivables: +€16,377
- Profit (loss) carried forward +€48,225
up €48,225 (+81.6%), from €59,130 to €107,354
- Tax, wage and social debts +€1,651
up €1,651 (+9.5%), from €17,359 to €19,009
of which Taxes: +€3,651
- Gross operating margin +€5,787
up €5,787 (+10.1%), from €57,533 to €63,319
- Taxes +€1,092
up €1,092 (+9.5%), from €11,463 to €12,554
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 | €82,135 | €131,250 | +€49,115 | +59.8% |
| Fixed assets | 21/28 | €3,073 | €1,977 | -€1,096 | -35.7% |
| Tangible fixed assets | 22/27 | €3,073 | €1,977 | -€1,096 | -35.7% |
| Furniture and vehicles | 24 | €3,073 | €1,977 | -€1,096 | -35.7% |
| Current assets | 29/58 | €79,062 | €129,273 | +€50,211 | +63.5% |
| Amounts receivable within one year | 40/41 | €11,605 | €27,981 | +€16,377 | +141.1% |
| Trade receivables | 40 | €11,605 | €27,981 | +€16,377 | +141.1% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €65,162 | €98,152 | +€32,990 | +50.6% |
| Deferred charges and accrued income | 490/1 | €2,295 | €3,139 | +€844 | +36.8% |
| Total equity and liabilities | 10/49 | €82,135 | €131,250 | +€49,115 | +59.8% |
| Equity | 10/15 | €62,130 | €110,354 | +€48,225 | +77.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,130 | €107,354 | +€48,225 | +81.6% |
| Amounts payable | 17/49 | €20,005 | €20,895 | +€890 | +4.5% |
| Amounts payable within one year | 42/48 | €20,005 | €20,895 | +€890 | +4.5% |
| Trade debts | 44 | €1,787 | €1,886 | +€99 | +5.5% |
| Suppliers | 440/4 | €1,787 | €1,886 | +€99 | +5.5% |
| Taxes, remuneration and social security | 45 | €17,359 | €19,009 | +€1,651 | +9.5% |
| Taxes | 450/3 | €15,359 | €19,009 | +€3,651 | +23.8% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100.0% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,806 | €1,836 | +€31 | +1.7% |
| Other operating charges | 640/8 | €0 | - | = | |
| Non-recurring operating charges | 66A | - | €664 | +€664 | |
| Gross operating margin | 9900 | €57,533 | €63,319 | +€5,787 | +10.1% |
| Operating profit (loss) | 9901 | €55,727 | €60,819 | +€5,092 | +9.1% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €69 | €55 | -€14 | -20.1% |
| Recurring financial charges | 65 | €69 | €55 | -€14 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €55,657 | €60,779 | +€5,121 | +9.2% |
| Income taxes | 67/77 | €11,463 | €12,554 | +€1,092 | +9.5% |
| Profit (loss) for the period | 9904 | €44,195 | €48,225 | +€4,030 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,195 | €48,225 | +€4,030 | +9.1% |
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 6 October 2026 via checked.be.