N.V.T.: 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.T.
Largest movements
- Current investments -€80,000
no longer reported in 2025 (was €80,000)
- Cash +€42,498
up €42,498 (+31.6%), from €134,557 to €177,055
mainly Current investments (+€80,000) and Depreciation (+€34,254)
- Receivables within one year +€36,280
up €36,280 (+172%), from €21,121 to €57,401
of which Trade receivables: +€23,758
- Tangible fixed assets -€34,254
down €34,254 (-29.6%), from €115,873 to €81,620
of which Furniture and vehicles: -€22,038
- Reserves -€43,695
down €43,695 (-16.1%), from €270,701 to €227,006
- Other debts +€26,002
up €26,002 (+104%), from €24,981 to €50,983
- Debts after one year -€9,842
down €9,842 (-31.2%), from €31,580 to €21,738
- Trade debts -€4,869
down €4,869 (-56.2%), from €8,657 to €3,788
- Gross operating margin -€94,951
down €94,951 (-40.9%), from €231,950 to €136,999
- Staff costs -€32,965
down €32,965 (-26.7%), from €123,448 to €90,483
- Taxes -€18,023
down €18,023 (-80.6%), from €22,362 to €4,339
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 | €359,495 | €324,023 | -€35,472 | -9.9% |
| Fixed assets | 21/28 | €116,123 | €81,870 | -€34,254 | -29.5% |
| Tangible fixed assets | 22/27 | €115,873 | €81,620 | -€34,254 | -29.6% |
| Land and buildings | 22 | €37,864 | €28,567 | -€9,297 | -24.6% |
| Plant, machinery and equipment | 23 | €3,619 | €700 | -€2,919 | -80.7% |
| Furniture and vehicles | 24 | €74,390 | €52,352 | -€22,038 | -29.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €243,371 | €242,153 | -€1,218 | -0.5% |
| Stocks and contracts in progress | 3 | €4,573 | €4,685 | +€112 | +2.5% |
| Stocks | 30/36 | €4,573 | €4,685 | +€112 | +2.5% |
| Amounts receivable within one year | 40/41 | €21,121 | €57,401 | +€36,280 | +172% |
| Trade receivables | 40 | €17,553 | €41,312 | +€23,758 | +135% |
| Other amounts receivable | 41 | €3,568 | €16,090 | +€12,522 | +351% |
| Current investments | 50/53 | €80,000 | - | -€80,000 | |
| Cash at bank and in hand | 54/58 | €134,557 | €177,055 | +€42,498 | +31.6% |
| Deferred charges and accrued income | 490/1 | €3,121 | €3,012 | -€109 | -3.5% |
| Total equity and liabilities | 10/49 | €359,495 | €324,023 | -€35,472 | -9.9% |
| Equity | 10/15 | €276,101 | €232,406 | -€43,695 | -15.8% |
| Contributions | 10/11 | €5,400 | €5,400 | = | 0.0% |
| Reserves | 13 | €270,701 | €227,006 | -€43,695 | -16.1% |
| Distributable reserves | 133 | €270,701 | €227,006 | -€43,695 | -16.1% |
| Amounts payable | 17/49 | €83,394 | €91,617 | +€8,223 | +9.9% |
| Amounts payable after more than one year | 17 | €31,580 | €21,738 | -€9,842 | -31.2% |
| Financial debts | 170/4 | €31,580 | €21,738 | -€9,842 | -31.2% |
| Amounts payable within one year | 42/48 | €51,814 | €69,879 | +€18,066 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €9,488 | €9,842 | +€354 | +3.7% |
| Trade debts | 44 | €8,657 | €3,788 | -€4,869 | -56.2% |
| Suppliers | 440/4 | €8,657 | €3,788 | -€4,869 | -56.2% |
| Taxes, remuneration and social security | 45 | €8,688 | €5,267 | -€3,422 | -39.4% |
| Taxes | 450/3 | €2,559 | - | -€2,559 | |
| Remuneration and social security | 454/9 | €6,129 | €5,267 | -€863 | -14.1% |
| Other amounts payable | 47/48 | €24,981 | €50,983 | +€26,002 | +104% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €123,448 | €90,483 | -€32,965 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,262 | €34,254 | -€8 | 0.0% |
| Other operating charges | 640/8 | €3,138 | €1,880 | -€1,258 | -40.1% |
| Gross operating margin | 9900 | €231,950 | €136,999 | -€94,951 | -40.9% |
| Operating profit (loss) | 9901 | €71,101 | €10,382 | -€60,720 | -85.4% |
| Financial income | 75/76B | €350 | €1,971 | +€1,621 | +463% |
| Recurring financial income | 75 | €350 | €1,971 | +€1,621 | +463% |
| Financial charges | 65/66B | €1,836 | €1,181 | -€655 | -35.7% |
| Recurring financial charges | 65 | €1,836 | €1,181 | -€655 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €69,616 | €11,172 | -€58,444 | -84.0% |
| Income taxes | 67/77 | €22,362 | €4,339 | -€18,023 | -80.6% |
| Profit (loss) for the period | 9904 | €47,254 | €6,833 | -€40,421 | -85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,254 | €6,833 | -€40,421 | -85.5% |
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 17 October 2026 via checked.be.