Bnewable: 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.
Bnewable
Largest movements
- Cash +€13.4m
up €13.4m (+1433.9%), from €937,881 to €14.4m
mainly Contributions, distributions and other (+€15.9m) and Advances received (+€5.9m)
- Stocks and contracts +€5.8m
up €5.8m (+286.3%), from €2.0m to €7.8m
of which Contracts in progress: +€5.4m
- Receivables within one year +€4.3m
up €4.3m (+741.1%), from €576,088 to €4.8m
of which Trade receivables: +€4.3m
- Financial fixed assets +€1.5m
up €1.5m (+105.9%), from €1.4m to €3.0m
- Intangible fixed assets +€1.1m
up €1.1m (+159.9%), from €692,962 to €1.8m
- Contributions +€16.0m
up €16.0m (+236.2%), from €6.8m to €22.8m
- Advances received +€5.9m
new in 2025: €5.9m
- Debts after one year +€5.0m
up €5.0m (+485.1%), from €1.0m to €6.0m
- Profit (loss) carried forward -€2.7m
down €2.7m (-83.7%), from -€3.2m to -€6.0m
- Trade debts +€1.9m
up €1.9m (+234.7%), from €830,585 to €2.8m
- Staff costs +€789,175
up €789,175 (+112.9%), from €699,233 to €1.5m
- Depreciation +€244,877
up €244,877 (+309.0%), from €79,255 to €324,132
- Financial charges +€183,104
up €183,104 (+766.1%), from €23,900 to €207,003
- Financial income +€180,535
up €180,535 (+107.1%), from €168,585 to €349,120
of which Financial income: +€137,623
- Gross operating margin +€140,989
up €140,989 (+11.6%), from -€1.2m to -€1.1m
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 | €5,820,463 | €32,103,906 | +€26.3m | +451.6% |
| Fixed assets | 21/28 | €2,205,294 | €4,866,112 | +€2.7m | +120.7% |
| Intangible fixed assets | 21 | €692,962 | €1,801,309 | +€1.1m | +159.9% |
| Tangible fixed assets | 22/27 | €75,454 | €105,620 | +€30,166 | +40.0% |
| Plant, machinery and equipment | 23 | €4,201 | €3,170 | -€1,031 | -24.5% |
| Furniture and vehicles | 24 | €27,963 | €68,255 | +€40,292 | +144.1% |
| Leasing and similar rights | 25 | €43,290 | €32,607 | -€10,683 | -24.7% |
| Other tangible fixed assets | 26 | - | €1,589 | +€1,589 | |
| Financial fixed assets | 28 | €1,436,877 | €2,959,182 | +€1.5m | +105.9% |
| Current assets | 29/58 | €3,615,169 | €27,237,794 | +€23.6m | +653.4% |
| Amounts receivable after more than one year | 29 | - | €75,000 | +€75,000 | |
| Other amounts receivable | 291 | - | €75,000 | +€75,000 | |
| Stocks and contracts in progress | 3 | €2,017,501 | €7,793,802 | +€5.8m | +286.3% |
| Stocks | 30/36 | - | €418,534 | +€418,534 | |
| Contracts in progress | 37 | €2,017,501 | €7,375,268 | +€5.4m | +265.6% |
| Amounts receivable within one year | 40/41 | €576,088 | €4,845,686 | +€4.3m | +741.1% |
| Trade receivables | 40 | €360,014 | €4,627,720 | +€4.3m | +1185.4% |
| Other amounts receivable | 41 | €216,074 | €217,965 | +€1,891 | +0.9% |
| Current investments | 50/53 | €38,241 | €20,859 | -€17,382 | -45.5% |
| Cash at bank and in hand | 54/58 | €937,881 | €14,385,899 | +€13.4m | +1433.9% |
| Deferred charges and accrued income | 490/1 | €45,459 | €116,548 | +€71,090 | +156.4% |
| Total equity and liabilities | 10/49 | €5,820,463 | €32,103,906 | +€26.3m | +451.6% |
| Equity | 10/15 | €3,752,938 | €16,983,818 | +€13.2m | +352.5% |
| Contributions | 10/11 | €6,767,827 | €22,756,772 | +€16.0m | +236.2% |
| Reserves | 13 | €38,241 | €20,859 | -€17,382 | -45.5% |
| Non-distributable reserves | 130/1 | €38,241 | €20,859 | -€17,382 | -45.5% |
| Own shares acquired | 1312 | €38,241 | €20,859 | -€17,382 | -45.5% |
| Profit (loss) carried forward | 14 | -€3,243,501 | -€5,956,717 | -€2.7m | -83.7% |
| Investment grants | 15 | €190,371 | €162,904 | -€27,467 | -14.4% |
| Amounts payable | 17/49 | €2,067,525 | €15,120,088 | +€13.1m | +631.3% |
| Amounts payable after more than one year | 17 | €1,027,865 | €6,014,234 | +€5.0m | +485.1% |
| Financial debts | 170/4 | €1,027,865 | €6,014,234 | +€5.0m | +485.1% |
| Amounts payable within one year | 42/48 | €1,027,529 | €8,965,288 | +€7.9m | +772.5% |
| Current portion of amounts payable after more than one year | 42 | €13,053 | €13,631 | +€578 | +4.4% |
| Financial debts | 43 | €4,370 | €6,224 | +€1,854 | +42.4% |
| Credit institutions | 430/8 | €4,370 | €6,224 | +€1,854 | +42.4% |
| Trade debts | 44 | €830,585 | €2,780,053 | +€1.9m | +234.7% |
| Suppliers | 440/4 | €830,585 | €2,780,053 | +€1.9m | +234.7% |
| Advances received on contracts in progress | 46 | - | €5,903,719 | +€5.9m | |
| Taxes, remuneration and social security | 45 | €65,603 | €147,713 | +€82,109 | +125.2% |
| Taxes | 450/3 | - | €979 | +€979 | |
| Remuneration and social security | 454/9 | €65,603 | €146,734 | +€81,130 | +123.7% |
| Other amounts payable | 47/48 | €113,918 | €113,948 | +€30 | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,131 | €140,566 | +€128,435 | +1058.7% |
| Non-recurring operating income | 76A | - | €11,465 | +€11,465 | |
| Remuneration, social security and pensions | 62 | €699,233 | €1,488,408 | +€789,175 | +112.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,255 | €324,132 | +€244,877 | +309.0% |
| Other operating charges | 640/8 | €835 | €17,849 | +€17,014 | +2036.8% |
| Gross operating margin | 9900 | -€1,210,986 | -€1,069,998 | +€140,989 | +11.6% |
| Operating profit (loss) | 9901 | -€1,990,309 | -€2,900,386 | -€910,077 | -45.7% |
| Financial income | 75/76B | €168,585 | €349,120 | +€180,535 | +107.1% |
| Recurring financial income | 75 | €76,539 | €214,162 | +€137,623 | +179.8% |
| Non-recurring financial income | 76B | €92,046 | €134,958 | +€42,912 | +46.6% |
| Financial charges | 65/66B | €23,900 | €207,003 | +€183,104 | +766.1% |
| Recurring financial charges | 65 | €23,900 | €207,003 | +€183,104 | +766.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,845,624 | -€2,758,270 | -€912,646 | -49.4% |
| Income taxes | 67/77 | -€29,922 | -€45,053 | -€15,131 | -50.6% |
| Profit (loss) for the period | 9904 | -€1,815,702 | -€2,713,216 | -€897,515 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,815,702 | -€2,713,216 | -€897,515 | -49.4% |
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 30 September 2026 via checked.be.