NDCM: 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.
NDCM
Largest movements
- Cash -€9,696
down €9,696 (-56.5%), from €17,156 to €7,460
mainly Stocks and contracts (-€4,289) and Net result for the year (-€4,070)
- Tangible fixed assets -€6,330
down €6,330 (-36.4%), from €17,397 to €11,067
of which Furniture and vehicles: -€5,104
- Stocks and contracts +€4,289
up €4,289 (+100%), from €4,278 to €8,567
- Receivables within one year +€3,138
up €3,138 (+779%), from €403 to €3,541
of which Trade receivables: +€2,969
- Deferred charges and accrued income -€675
down €675 (-28.6%), from €2,358 to €1,684
- Profit (loss) carried forward -€4,070
down €4,070 (-33.5%), from -€12,157 to -€16,227
- Debts after one year -€2,924
down €2,924 (-51.1%), from €5,724 to €2,801
- Other debts -€2,031
down €2,031 (-65.5%), from €3,102 to €1,071
- Accrued charges and deferred income -€1,823
no longer reported in 2025 (was €1,823)
- Trade debts +€1,821
new in 2025: €1,821
- Gross operating margin +€3,359
up €3,359 (+557%), from €604 to €3,963
- Financial charges -€495
down €495 (-49.0%), from €1,012 to €516
- Taxes -€413
down €413 (-57.3%), from €721 to €308
- Depreciation -€271
down €271 (-4.1%), from €6,602 to €6,330
- Other operating charges -€77
down €77 (-7.8%), from €979 to €903
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 | €41,642 | €32,368 | -€9,274 | -22.3% |
| Fixed assets | 21/28 | €17,447 | €11,117 | -€6,330 | -36.3% |
| Tangible fixed assets | 22/27 | €17,397 | €11,067 | -€6,330 | -36.4% |
| Furniture and vehicles | 24 | €9,747 | €4,643 | -€5,104 | -52.4% |
| Other tangible fixed assets | 26 | €7,650 | €6,424 | -€1,226 | -16.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €24,195 | €21,251 | -€2,944 | -12.2% |
| Stocks and contracts in progress | 3 | €4,278 | €8,567 | +€4,289 | +100% |
| Stocks | 30/36 | €4,278 | €8,567 | +€4,289 | +100% |
| Amounts receivable within one year | 40/41 | €403 | €3,541 | +€3,138 | +779% |
| Trade receivables | 40 | €227 | €3,196 | +€2,969 | +1,309% |
| Other amounts receivable | 41 | €176 | €345 | +€169 | +96.0% |
| Cash at bank and in hand | 54/58 | €17,156 | €7,460 | -€9,696 | -56.5% |
| Deferred charges and accrued income | 490/1 | €2,358 | €1,684 | -€675 | -28.6% |
| Total equity and liabilities | 10/49 | €41,642 | €32,368 | -€9,274 | -22.3% |
| Equity | 10/15 | €24,889 | €20,819 | -€4,070 | -16.4% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €26,846 | €26,846 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €24,986 | €24,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,157 | -€16,227 | -€4,070 | -33.5% |
| Amounts payable | 17/49 | €16,753 | €11,548 | -€5,204 | -31.1% |
| Amounts payable after more than one year | 17 | €5,724 | €2,801 | -€2,924 | -51.1% |
| Financial debts | 170/4 | €5,724 | €2,801 | -€2,924 | -51.1% |
| Amounts payable within one year | 42/48 | €9,206 | €8,748 | -€458 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €4,185 | €2,924 | -€1,261 | -30.1% |
| Trade debts | 44 | - | €1,821 | +€1,821 | |
| Suppliers | 440/4 | - | €1,821 | +€1,821 | |
| Advances received on contracts in progress | 46 | - | €1,390 | +€1,390 | |
| Taxes, remuneration and social security | 45 | €1,920 | €1,542 | -€378 | -19.7% |
| Taxes | 450/3 | €1,920 | €1,542 | -€378 | -19.7% |
| Other amounts payable | 47/48 | €3,102 | €1,071 | -€2,031 | -65.5% |
| Accrued charges and deferred income | 492/3 | €1,823 | - | -€1,823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,602 | €6,330 | -€271 | -4.1% |
| Other operating charges | 640/8 | €979 | €903 | -€77 | -7.8% |
| Gross operating margin | 9900 | €604 | €3,963 | +€3,359 | +557% |
| Operating profit (loss) | 9901 | -€6,977 | -€3,270 | +€3,707 | +53.1% |
| Financial income | 75/76B | €14 | €24 | +€10 | +73.9% |
| Recurring financial income | 75 | €14 | €24 | +€10 | +73.9% |
| Financial charges | 65/66B | €1,012 | €516 | -€495 | -49.0% |
| Recurring financial charges | 65 | €1,012 | €516 | -€495 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,975 | -€3,762 | +€4,213 | +52.8% |
| Income taxes | 67/77 | €721 | €308 | -€413 | -57.3% |
| Profit (loss) for the period | 9904 | -€8,696 | -€4,070 | +€4,626 | +53.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,696 | -€4,070 | +€4,626 | +53.2% |
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 28 October 2026 via checked.be.