NDC Construct: what changed
NDC Construct
Largest movements
- Receivables within one year +€9,735
up €9,735 (+259%), from €3,764 to €13,499
of which Trade receivables: +€11,088
- Deferred charges and accrued income +€2,313
up €2,313 (+367%), from €629 to €2,942
- Cash -€1,788
down €1,788 (-22.9%), from €7,809 to €6,021
mainly Receivables within one year (-€9,735) and Deferred charges and accrued income (-€2,313)
- Tax, wage and social debts +€6,462
up €6,462 (+295%), from €2,187 to €8,649
of which Remuneration and social security: +€6,462
- Advances received +€4,730
new in 2025: €4,730
- Trade debts +€2,035
up €2,035 (+38.3%), from €5,312 to €7,347
- Other debts -€1,985
down €1,985 (-56.8%), from €3,497 to €1,512
- Profit (loss) carried forward -€982
down €982 (-44.8%), from -€2,194 to -€3,176
- Gross operating margin +€9,948
up €9,948, from -€9,675 to €273
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,302 | €22,563 | +€10,260 | +83.4% |
| Fixed assets | 21/28 | €100 | €100 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €12,202 | €22,463 | +€10,260 | +84.1% |
| Amounts receivable within one year | 40/41 | €3,764 | €13,499 | +€9,735 | +259% |
| Trade receivables | 40 | €1,427 | €12,515 | +€11,088 | +777% |
| Other amounts receivable | 41 | €2,337 | €984 | -€1,353 | -57.9% |
| Cash at bank and in hand | 54/58 | €7,809 | €6,021 | -€1,788 | -22.9% |
| Deferred charges and accrued income | 490/1 | €629 | €2,942 | +€2,313 | +367% |
| Total equity and liabilities | 10/49 | €12,302 | €22,563 | +€10,260 | +83.4% |
| Equity | 10/15 | €1,306 | €324 | -€982 | -75.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,194 | -€3,176 | -€982 | -44.8% |
| Amounts payable | 17/49 | €10,996 | €22,239 | +€11,243 | +102% |
| Amounts payable within one year | 42/48 | €10,996 | €22,239 | +€11,243 | +102% |
| Trade debts | 44 | €5,312 | €7,347 | +€2,035 | +38.3% |
| Suppliers | 440/4 | €5,312 | €7,347 | +€2,035 | +38.3% |
| Advances received on contracts in progress | 46 | - | €4,730 | +€4,730 | |
| Taxes, remuneration and social security | 45 | €2,187 | €8,649 | +€6,462 | +295% |
| Taxes | 450/3 | €33 | €33 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,154 | €8,616 | +€6,462 | +300% |
| Other amounts payable | 47/48 | €3,497 | €1,512 | -€1,985 | -56.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,166 | €1,106 | -€60 | -5.1% |
| Gross operating margin | 9900 | -€9,675 | €273 | +€9,948 | |
| Operating profit (loss) | 9901 | -€10,840 | -€833 | +€10,007 | +92.3% |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €150 | €152 | +€2 | +1.3% |
| Recurring financial charges | 65 | €150 | €152 | +€2 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,990 | -€982 | +€10,008 | +91.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€10,990 | -€982 | +€10,008 | +91.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,990 | -€982 | +€10,008 | +91.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.