N.V.C.: 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.
What changed
N.V.C.
NACE 47.712, Retail trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€27,966
2024 · -€4,422+€32,387
Equity
€432,012
2024 · €404,046+€27,966
Cash
€10,967
2024 · €14,714-€3,747
Balance sheet total
€1.2m
2024 · €1.1m+€77,840
Largest movements
Assets
- Receivables after one year +€55,000
up €55,000 (+30.6%), from €180,000 to €235,000
- Stocks and contracts +€26,175
up €26,175 (+12.8%), from €205,180 to €231,355
Equity and liabilities
- Tax, wage and social debts +€105,893
up €105,893 (+139.6%), from €75,844 to €181,736
of which Taxes: +€93,388
- Debts after one year -€55,409
down €55,409 (-12.6%), from €439,538 to €384,129
- Profit (loss) carried forward +€38,380
up €38,380 (+141.7%), from €27,085 to €65,465
Income statement
- Gross operating margin +€75,416
up €75,416 (+41.1%), from €183,625 to €259,041
- Staff costs +€23,047
up €23,047 (+20.1%), from €114,577 to €137,625
- Taxes +€14,745
up €14,745 (+338.6%), from €4,355 to €19,100
- Financial income -€5,400
no longer reported in 2025 (was €5,400)
- Financial charges -€2,788
down €2,788 (-8.0%), from €34,697 to €31,909
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.
Result 2024
-€4,422
Gross operating margin
+€75,416
Staff costs
-€23,047
Depreciation
-€625
Other operating charges
-€1,999
Financial income
-€5,400
Financial charges
+€2,788
Taxes
-€14,745
Result 2025
€27,966
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.
From operations
+€77,290
Investment
-€26,471
Financing
-€54,566
Cash 2024
€14,714
From operations (derived)
+€77,290
Net result for the year
+€27,966
Depreciation
+€29,059
Receivables after one year
-€55,000
Stocks and contracts
-€26,175
Receivables within one year
-€3,000
Provisions
-€3,472
Trade debts
+€5,110
Tax, wage and social debts
+€105,893
Other debts
-€3,091
Investment (derived)
-€26,471
Investment in fixed assets (net)
-€26,471
Financing
-€54,566
Debts after one year
-€55,409
Current portion of long-term debt
+€843
Cash 2025
€10,967
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,127,137 | €1,204,977 | +€77,840 | +6.9% |
| Fixed assets | 21/28 | €727,130 | €724,542 | -€2,588 | -0.4% |
| Intangible fixed assets | 21 | €7,375 | €6,625 | -€750 | -10.2% |
| Tangible fixed assets | 22/27 | €716,019 | €714,181 | -€1,838 | -0.3% |
| Land and buildings | 22 | €701,306 | €680,354 | -€20,953 | -3.0% |
| Leasing and similar rights | 25 | €14,713 | €7,357 | -€7,357 | -50.0% |
| Other tangible fixed assets | 26 | - | €26,471 | +€26,471 | |
| Financial fixed assets | 28 | €3,736 | €3,736 | = | 0.0% |
| Current assets | 29/58 | €400,007 | €480,435 | +€80,428 | +20.1% |
| Amounts receivable after more than one year | 29 | €180,000 | €235,000 | +€55,000 | +30.6% |
| Other amounts receivable | 291 | €180,000 | €235,000 | +€55,000 | +30.6% |
| Stocks and contracts in progress | 3 | €205,180 | €231,355 | +€26,175 | +12.8% |
| Stocks | 30/36 | €205,180 | €231,355 | +€26,175 | +12.8% |
| Amounts receivable within one year | 40/41 | - | €3,000 | +€3,000 | |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Current investments | 50/53 | €113 | €113 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,714 | €10,967 | -€3,747 | -25.5% |
| Total equity and liabilities | 10/49 | €1,127,137 | €1,204,977 | +€77,840 | +6.9% |
| Equity | 10/15 | €404,046 | €432,012 | +€27,966 | +6.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €314,988 | €304,573 | -€10,415 | -3.3% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €308,791 | €298,376 | -€10,415 | -3.4% |
| Profit (loss) carried forward | 14 | €27,085 | €65,465 | +€38,380 | +141.7% |
| Provisions and deferred taxes | 16 | €102,930 | €99,459 | -€3,472 | -3.4% |
| Deferred taxes | 168 | €102,930 | €99,459 | -€3,472 | -3.4% |
| Amounts payable | 17/49 | €620,161 | €673,506 | +€53,346 | +8.6% |
| Amounts payable after more than one year | 17 | €439,538 | €384,129 | -€55,409 | -12.6% |
| Financial debts | 170/4 | €439,538 | €384,129 | -€55,409 | -12.6% |
| Amounts payable within one year | 42/48 | €180,622 | €289,377 | +€108,755 | +60.2% |
| Current portion of amounts payable after more than one year | 42 | €54,015 | €54,858 | +€843 | +1.6% |
| Trade debts | 44 | €47,410 | €52,519 | +€5,110 | +10.8% |
| Suppliers | 440/4 | €47,410 | €52,519 | +€5,110 | +10.8% |
| Taxes, remuneration and social security | 45 | €75,844 | €181,736 | +€105,893 | +139.6% |
| Taxes | 450/3 | €62,592 | €155,981 | +€93,388 | +149.2% |
| Remuneration and social security | 454/9 | €13,251 | €25,756 | +€12,505 | +94.4% |
| Other amounts payable | 47/48 | €3,354 | €263 | -€3,091 | -92.1% |
| Remuneration, social security and pensions | 62 | €114,577 | €137,625 | +€23,047 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,434 | €29,059 | +€625 | +2.2% |
| Other operating charges | 640/8 | €14,855 | €16,854 | +€1,999 | +13.5% |
| Gross operating margin | 9900 | €183,625 | €259,041 | +€75,416 | +41.1% |
| Operating profit (loss) | 9901 | €25,759 | €75,503 | +€49,745 | +193.1% |
| Financial income | 75/76B | €5,400 | - | -€5,400 | |
| Recurring financial income | 75 | €5,400 | - | -€5,400 | |
| Financial charges | 65/66B | €34,697 | €31,909 | -€2,788 | -8.0% |
| Recurring financial charges | 65 | €34,697 | €31,909 | -€2,788 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,538 | €43,594 | +€47,132 | |
| Transfer from deferred taxes | 780 | €3,472 | €3,472 | = | 0.0% |
| Income taxes | 67/77 | €4,355 | €19,100 | +€14,745 | +338.6% |
| Profit (loss) for the period | 9904 | -€4,422 | €27,966 | +€32,387 | |
| Transfer from tax-exempt reserves | 789 | €10,415 | €10,415 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,993 | €38,380 | +€32,387 | +540.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.