N.V.G.: 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.V.G.
Largest movements
- Tangible fixed assets -€8,436
down €8,436 (-43.7%), from €19,322 to €10,886
of which Leasing and similar rights: -€10,590
- Cash -€2,119
down €2,119 (-4.8%), from €44,269 to €42,150
mainly Investment in fixed assets (net) (-€4,663) and Current portion of long-term debt (-€4,216)
- Current portion of long-term debt -€4,216
down €4,216 (-57.9%), from €7,278 to €3,061
- Debts after one year -€3,061
down €3,061 (-27.8%), from €11,004 to €7,943
- Other debts -€1,177
down €1,177 (-30.3%), from €3,882 to €2,706
- Reserves -€1,047
down €1,047 (-3.3%), from €31,720 to €30,673
- Gross operating margin -€10,790
down €10,790 (-41.7%), from €25,874 to €15,084
- Taxes -€2,488
down €2,488 (-71.9%), from €3,458 to €970
- Depreciation -€399
down €399 (-3.0%), from €13,497 to €13,098
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 | €67,734 | €57,919 | -€9,815 | -14.5% |
| Fixed assets | 21/28 | €19,322 | €10,886 | -€8,436 | -43.7% |
| Tangible fixed assets | 22/27 | €19,322 | €10,886 | -€8,436 | -43.7% |
| Plant, machinery and equipment | 23 | €2,785 | €1,904 | -€881 | -31.6% |
| Furniture and vehicles | 24 | €956 | €3,992 | +€3,036 | +318% |
| Leasing and similar rights | 25 | €15,580 | €4,990 | -€10,590 | -68.0% |
| Current assets | 29/58 | €48,412 | €47,033 | -€1,379 | -2.8% |
| Amounts receivable within one year | 40/41 | €2,456 | €3,113 | +€657 | +26.8% |
| Trade receivables | 40 | €0 | €404 | +€404 | |
| Other amounts receivable | 41 | €2,456 | €2,708 | +€253 | +10.3% |
| Cash at bank and in hand | 54/58 | €44,269 | €42,150 | -€2,119 | -4.8% |
| Deferred charges and accrued income | 490/1 | €1,688 | €1,771 | +€83 | +4.9% |
| Total equity and liabilities | 10/49 | €67,734 | €57,919 | -€9,815 | -14.5% |
| Equity | 10/15 | €44,120 | €43,073 | -€1,047 | -2.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,720 | €30,673 | -€1,047 | -3.3% |
| Distributable reserves | 133 | €31,720 | €30,673 | -€1,047 | -3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,613 | €14,846 | -€8,767 | -37.1% |
| Amounts payable after more than one year | 17 | €11,004 | €7,943 | -€3,061 | -27.8% |
| Financial debts | 170/4 | €11,004 | €7,943 | -€3,061 | -27.8% |
| Amounts payable within one year | 42/48 | €12,610 | €6,903 | -€5,706 | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €7,278 | €3,061 | -€4,216 | -57.9% |
| Trade debts | 44 | €426 | €287 | -€139 | -32.7% |
| Suppliers | 440/4 | €426 | €287 | -€139 | -32.7% |
| Taxes, remuneration and social security | 45 | €1,024 | €850 | -€174 | -17.0% |
| Taxes | 450/3 | €1,024 | €850 | -€174 | -17.0% |
| Other amounts payable | 47/48 | €3,882 | €2,706 | -€1,177 | -30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,497 | €13,098 | -€399 | -3.0% |
| Other operating charges | 640/8 | €956 | €987 | +€30 | +3.2% |
| Gross operating margin | 9900 | €25,874 | €15,084 | -€10,790 | -41.7% |
| Operating profit (loss) | 9901 | €11,420 | €999 | -€10,422 | -91.3% |
| Financial income | 75/76B | €162 | €167 | +€5 | +2.9% |
| Recurring financial income | 75 | €162 | €167 | +€5 | +2.9% |
| Financial charges | 65/66B | €490 | €409 | -€81 | -16.5% |
| Recurring financial charges | 65 | €490 | €409 | -€81 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €11,093 | €756 | -€10,337 | -93.2% |
| Income taxes | 67/77 | €3,458 | €970 | -€2,488 | -71.9% |
| Profit (loss) for the period | 9904 | €7,634 | -€214 | -€7,849 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,634 | -€214 | -€7,849 |
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 25 October 2026 via checked.be.