N.W.A.: 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.W.A.
Largest movements
- Stocks and contracts +€20,102
up €20,102 (+41.7%), from €48,206 to €68,308
- Financial fixed assets +€15,320
up €15,320 (+47.5%), from €32,280 to €47,600
- Receivables within one year +€13,343
up €13,343 (+62.1%), from €21,475 to €34,819
of which Trade receivables: +€8,361
- Reserves +€15,000
up €15,000 (+50,000%), from €30 to €15,030
of which Distributable reserves: +€15,000
- Short-term financial debts +€15,000
up €15,000 (+25.0%), from €60,000 to €75,000
- Trade debts +€10,994
up €10,994 (+26.0%), from €42,261 to €53,255
- Debts after one year -€4,711
down €4,711 (-39.2%), from €12,006 to €7,295
- Tax, wage and social debts +€2,924
up €2,924 (+20.4%), from €14,331 to €17,255
of which Taxes: +€5,671
- Purchases and services +€62,197
up €62,197 (+21.1%), from €294,287 to €356,483
- Turnover +€58,920
up €58,920 (+17.7%), from €333,526 to €392,446
- Staff costs -€14,035
down €14,035 (-73.7%), from €19,046 to €5,011
- Write-downs -€8,611
down €8,611, from €7,521 to -€1,089
- Taxes +€6,511
up €6,511, from -€495 to €6,017
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 | €161,823 | €205,912 | +€44,089 | +27.2% |
| Formation expenses | 20 | €787 | €487 | -€300 | -38.1% |
| Fixed assets | 21/28 | €74,824 | €87,970 | +€13,146 | +17.6% |
| Intangible fixed assets | 21 | €689 | €89 | -€600 | -87.1% |
| Tangible fixed assets | 22/27 | €41,855 | €40,281 | -€1,574 | -3.8% |
| Plant, machinery and equipment | 23 | €41,855 | €35,823 | -€6,032 | -14.4% |
| Furniture and vehicles | 24 | - | €4,458 | +€4,458 | |
| Financial fixed assets | 28 | €32,280 | €47,600 | +€15,320 | +47.5% |
| Current assets | 29/58 | €86,213 | €117,456 | +€31,243 | +36.2% |
| Amounts receivable after more than one year | 29 | €240 | €240 | = | 0.0% |
| Other amounts receivable | 291 | €240 | €240 | = | 0.0% |
| Stocks and contracts in progress | 3 | €48,206 | €68,308 | +€20,102 | +41.7% |
| Stocks | 30/36 | €48,206 | €68,308 | +€20,102 | +41.7% |
| Amounts receivable within one year | 40/41 | €21,475 | €34,819 | +€13,343 | +62.1% |
| Trade receivables | 40 | €21,475 | €29,836 | +€8,361 | +38.9% |
| Other amounts receivable | 41 | - | €4,982 | +€4,982 | |
| Cash at bank and in hand | 54/58 | €14,860 | €12,973 | -€1,887 | -12.7% |
| Deferred charges and accrued income | 490/1 | €1,432 | €1,117 | -€315 | -22.0% |
| Total equity and liabilities | 10/49 | €161,823 | €205,912 | +€44,089 | +27.2% |
| Equity | 10/15 | €18,304 | €33,038 | +€14,735 | +80.5% |
| Contributions | 10/11 | €300 | €300 | = | 0.0% |
| Capital | 10 | €300 | €300 | = | 0.0% |
| Issued capital | 100 | €300 | €300 | = | 0.0% |
| Reserves | 13 | €30 | €15,030 | +€15,000 | +50,000% |
| Non-distributable reserves | 130/1 | €30 | €30 | = | 0.0% |
| Legal reserve | 130 | €30 | €30 | = | 0.0% |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €9,974 | €10,708 | +€735 | +7.4% |
| Investment grants | 15 | €8,000 | €7,000 | -€1,000 | -12.5% |
| Amounts payable | 17/49 | €143,520 | €172,874 | +€29,354 | +20.5% |
| Amounts payable after more than one year | 17 | €12,006 | €7,295 | -€4,711 | -39.2% |
| Financial debts | 170/4 | €12,006 | €7,295 | -€4,711 | -39.2% |
| Amounts payable within one year | 42/48 | €130,017 | €163,332 | +€33,315 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €7,204 | €9,073 | +€1,870 | +26.0% |
| Financial debts | 43 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Other loans | 439 | €60,000 | €75,000 | +€15,000 | +25.0% |
| Trade debts | 44 | €42,261 | €53,255 | +€10,994 | +26.0% |
| Suppliers | 440/4 | €42,261 | €53,255 | +€10,994 | +26.0% |
| Taxes, remuneration and social security | 45 | €14,331 | €17,255 | +€2,924 | +20.4% |
| Taxes | 450/3 | €11,483 | €17,154 | +€5,671 | +49.4% |
| Remuneration and social security | 454/9 | €2,849 | €102 | -€2,747 | -96.4% |
| Other amounts payable | 47/48 | €6,221 | €8,749 | +€2,528 | +40.6% |
| Accrued charges and deferred income | 492/3 | €1,497 | €2,247 | +€750 | +50.1% |
| Turnover | 70 | €333,526 | €392,446 | +€58,920 | +17.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €294,287 | €356,483 | +€62,197 | +21.1% |
| Remuneration, social security and pensions | 62 | €19,046 | €5,011 | -€14,035 | -73.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,021 | €8,966 | +€946 | +11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,521 | -€1,089 | -€8,611 | |
| Other operating charges | 640/8 | €1,989 | €250 | -€1,739 | -87.4% |
| Gross operating margin | 9900 | €39,239 | €35,963 | -€3,277 | -8.4% |
| Operating profit (loss) | 9901 | €2,662 | €22,825 | +€20,163 | +757% |
| Financial income | 75/76B | €1,062 | €1,040 | -€22 | -2.1% |
| Recurring financial income | 75 | €1,062 | €1,040 | -€22 | -2.1% |
| Financial charges | 65/66B | €1,492 | €2,113 | +€621 | +41.6% |
| Recurring financial charges | 65 | €1,492 | €2,113 | +€621 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | €2,232 | €21,751 | +€19,519 | +875% |
| Income taxes | 67/77 | -€495 | €6,017 | +€6,511 | |
| Profit (loss) for the period | 9904 | €2,727 | €15,735 | +€13,008 | +477% |
| Profit (loss) for the period to be appropriated | 9905 | €2,727 | €15,735 | +€13,008 | +477% |
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 18 October 2026 via checked.be.