N.G.V.: 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.
N.G.V.
Largest movements
- Cash +€32,659
up €32,659 (+29.1%), from €112,286 to €144,945
mainly Net result for the year (+€26,691) and Receivables within one year (+€7,927)
- Receivables within one year -€7,927
down €7,927 (-25.7%), from €30,856 to €22,929
of which Trade receivables: -€8,927
- Tangible fixed assets +€6,050
up €6,050 (+492%), from €1,228 to €7,278
of which Furniture and vehicles: +€6,866
- Profit (loss) carried forward +€26,691
up €26,691 (+174%), from €15,340 to €42,031
- Short-term financial debts +€7,581
new in 2025: €7,581
- Trade debts -€5,038
down €5,038 (-19.7%), from €25,590 to €20,551
- Gross operating margin +€27,326
up €27,326 (+197%), from €13,856 to €41,182
- Taxes +€7,075
up €7,075 (+168%), from €4,202 to €11,277
- Depreciation +€2,684
up €2,684 (+210%), from €1,276 to €3,961
- Financial income +€932
up €932 (+312%), from €299 to €1,231
of which Financial income: +€1,231
- Financial charges -€593
down €593 (-64.8%), from €915 to €322
of which Financial charges: -€324
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 | €149,991 | €179,523 | +€29,532 | +19.7% |
| Fixed assets | 21/28 | €1,228 | €7,278 | +€6,050 | +492% |
| Tangible fixed assets | 22/27 | €1,228 | €7,278 | +€6,050 | +492% |
| Plant, machinery and equipment | 23 | €590 | - | -€590 | |
| Furniture and vehicles | 24 | - | €6,866 | +€6,866 | |
| Other tangible fixed assets | 26 | €638 | €413 | -€225 | -35.3% |
| Current assets | 29/58 | €148,762 | €172,244 | +€23,482 | +15.8% |
| Stocks and contracts in progress | 3 | €2,750 | €1,500 | -€1,250 | -45.5% |
| Stocks | 30/36 | €2,750 | €1,500 | -€1,250 | -45.5% |
| Amounts receivable within one year | 40/41 | €30,856 | €22,929 | -€7,927 | -25.7% |
| Trade receivables | 40 | €28,856 | €19,929 | -€8,927 | -30.9% |
| Other amounts receivable | 41 | €2,000 | €3,000 | +€1,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €112,286 | €144,945 | +€32,659 | +29.1% |
| Deferred charges and accrued income | 490/1 | €2,870 | €2,870 | = | 0.0% |
| Total equity and liabilities | 10/49 | €149,991 | €179,523 | +€29,532 | +19.7% |
| Equity | 10/15 | €76,454 | €103,145 | +€26,691 | +34.9% |
| Contributions | 10/11 | €3,930 | €3,930 | = | 0.0% |
| Contributions outside capital | 11 | €3,930 | €3,930 | = | 0.0% |
| Other | 1109/19 | €3,930 | €3,930 | = | 0.0% |
| Reserves | 13 | €57,183 | €57,183 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,683 | €20,683 | = | 0.0% |
| Distributable reserves | 133 | €36,500 | €36,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,340 | €42,031 | +€26,691 | +174% |
| Provisions and deferred taxes | 16 | €8,200 | €8,200 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €8,200 | €8,200 | = | 0.0% |
| Other liabilities and charges | 164/5 | €8,200 | €8,200 | = | 0.0% |
| Amounts payable | 17/49 | €65,337 | €68,178 | +€2,841 | +4.3% |
| Amounts payable after more than one year | 17 | €4,298 | €4,011 | -€287 | -6.7% |
| Financial debts | 170/4 | €4,298 | €4,011 | -€287 | -6.7% |
| Amounts payable within one year | 42/48 | €61,039 | €64,167 | +€3,128 | +5.1% |
| Financial debts | 43 | - | €7,581 | +€7,581 | |
| Credit institutions | 430/8 | - | €7,581 | +€7,581 | |
| Trade debts | 44 | €25,590 | €20,551 | -€5,038 | -19.7% |
| Suppliers | 440/4 | €25,590 | €20,551 | -€5,038 | -19.7% |
| Taxes, remuneration and social security | 45 | €12,509 | €13,095 | +€585 | +4.7% |
| Taxes | 450/3 | €12,487 | €13,073 | +€585 | +4.7% |
| Remuneration and social security | 454/9 | €22 | €22 | = | 0.0% |
| Other amounts payable | 47/48 | €22,940 | €22,940 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,276 | €3,961 | +€2,684 | +210% |
| Other operating charges | 640/8 | €351 | €163 | -€188 | -53.6% |
| Gross operating margin | 9900 | €13,856 | €41,182 | +€27,326 | +197% |
| Operating profit (loss) | 9901 | €12,228 | €37,059 | +€24,830 | +203% |
| Financial income | 75/76B | €299 | €1,231 | +€932 | +312% |
| Recurring financial income | 75 | €0 | €1,231 | +€1,231 | +12,310,700% |
| Non-recurring financial income | 76B | €299 | - | -€299 | |
| Financial charges | 65/66B | €915 | €322 | -€593 | -64.8% |
| Recurring financial charges | 65 | €646 | €322 | -€324 | -50.2% |
| Non-recurring financial charges | 66B | €268 | - | -€268 | |
| Profit (loss) for the period before taxes | 9903 | €11,612 | €37,968 | +€26,356 | +227% |
| Income taxes | 67/77 | €4,202 | €11,277 | +€7,075 | +168% |
| Profit (loss) for the period | 9904 | €7,410 | €26,691 | +€19,281 | +260% |
| Profit (loss) for the period to be appropriated | 9905 | €7,410 | €26,691 | +€19,281 | +260% |
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 23 October 2026 via checked.be.