N-VEST: 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.
N-VEST
Largest movements
- Tangible fixed assets -€7,237
down €7,237 (-5.0%), from €143,435 to €136,198
of which Land and buildings: -€6,101
- Profit (loss) carried forward -€21,349
down €21,349 (-28.2%), from -€75,573 to -€96,922
- Other debts +€19,968
up €19,968 (+27.8%), from €71,726 to €91,694
- Debts after one year -€4,000
down €4,000 (-13.8%), from €29,000 to €25,000
- Trade debts -€2,440
down €2,440 (-34.1%), from €7,163 to €4,723
- Depreciation -€11,977
down €11,977 (-62.3%), from €19,214 to €7,237
- Gross operating margin +€2,907
up €2,907 (+23.2%), from -€12,535 to -€9,629
- Other operating charges -€2,620
down €2,620 (-50.1%), from €5,226 to €2,606
- Financial charges +€264
up €264 (+27.4%), from €964 to €1,228
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 | €148,244 | €140,729 | -€7,516 | -5.1% |
| Fixed assets | 21/28 | €144,942 | €137,705 | -€7,237 | -5.0% |
| Tangible fixed assets | 22/27 | €143,435 | €136,198 | -€7,237 | -5.0% |
| Land and buildings | 22 | €141,241 | €135,140 | -€6,101 | -4.3% |
| Plant, machinery and equipment | 23 | €2,195 | €1,058 | -€1,136 | -51.8% |
| Furniture and vehicles | 24 | €0 | €0 | -€0 | -100.0% |
| Financial fixed assets | 28 | €1,507 | €1,507 | = | 0.0% |
| Current assets | 29/58 | €3,302 | €3,024 | -€279 | -8.4% |
| Amounts receivable within one year | 40/41 | €2,591 | €2,286 | -€306 | -11.8% |
| Other amounts receivable | 41 | €2,591 | €2,286 | -€306 | -11.8% |
| Cash at bank and in hand | 54/58 | €0 | €1 | +€1 | +200.0% |
| Deferred charges and accrued income | 490/1 | €711 | €737 | +€26 | +3.7% |
| Total equity and liabilities | 10/49 | €148,244 | €140,729 | -€7,516 | -5.1% |
| Equity | 10/15 | €35,741 | €14,393 | -€21,349 | -59.7% |
| Contributions | 10/11 | €44,645 | €44,645 | = | 0.0% |
| Reserves | 13 | €66,669 | €66,669 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €46,059 | €46,059 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,573 | -€96,922 | -€21,349 | -28.2% |
| Amounts payable | 17/49 | €112,503 | €126,336 | +€13,833 | +12.3% |
| Amounts payable after more than one year | 17 | €29,000 | €25,000 | -€4,000 | -13.8% |
| Financial debts | 170/4 | €29,000 | €25,000 | -€4,000 | -13.8% |
| Amounts payable within one year | 42/48 | €83,503 | €101,336 | +€17,833 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €4,000 | €4,000 | = | 0.0% |
| Trade debts | 44 | €7,163 | €4,723 | -€2,440 | -34.1% |
| Suppliers | 440/4 | €7,163 | €4,723 | -€2,440 | -34.1% |
| Taxes, remuneration and social security | 45 | €613 | €919 | +€306 | +49.8% |
| Taxes | 450/3 | €613 | €919 | +€306 | +49.8% |
| Other amounts payable | 47/48 | €71,726 | €91,694 | +€19,968 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,214 | €7,237 | -€11,977 | -62.3% |
| Other operating charges | 640/8 | €5,226 | €2,606 | -€2,620 | -50.1% |
| Gross operating margin | 9900 | -€12,535 | -€9,629 | +€2,907 | +23.2% |
| Operating profit (loss) | 9901 | -€36,975 | -€19,472 | +€17,503 | +47.3% |
| Financial income | 75/76B | €85 | €0 | -€85 | -100.0% |
| Recurring financial income | 75 | €85 | €0 | -€85 | -100.0% |
| Financial charges | 65/66B | €964 | €1,228 | +€264 | +27.4% |
| Recurring financial charges | 65 | €964 | €1,228 | +€264 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,854 | -€20,700 | +€17,154 | +45.3% |
| Income taxes | 67/77 | €613 | €649 | +€36 | +5.8% |
| Profit (loss) for the period | 9904 | -€38,467 | -€21,349 | +€17,118 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,467 | -€21,349 | +€17,118 | +44.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.