N.W.S.: 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.S.
Largest movements
- Receivables within one year +€11,608
up €11,608 (+19.1%), from €60,895 to €72,503
of which Other amounts receivable: +€12,406
- Tangible fixed assets -€5,596
down €5,596 (-61.2%), from €9,144 to €3,548
of which Furniture and vehicles: -€5,331
- Current investments +€4,920
up €4,920 (+3.2%), from €151,581 to €156,502
- Cash -€3,901
down €3,901 (-14.8%), from €26,382 to €22,481
mainly Receivables within one year (-€11,608) and Accrued charges and deferred income (-€10,490)
- Intangible fixed assets -€2,750
no longer reported in 2025 (was €2,750)
- Accrued charges and deferred income -€10,490
down €10,490 (-32.5%), from €32,305 to €21,815
- Reserves +€9,253
up €9,253 (+15.9%), from €58,126 to €67,380
- Tax, wage and social debts +€6,043
up €6,043 (+344%), from €1,757 to €7,801
of which Taxes: +€6,143
- Turnover -€21,533
down €21,533 (-21.0%), from €102,541 to €81,008
- Purchases and services -€14,526
down €14,526 (-15.7%), from €92,433 to €77,908
- Gross operating margin -€7,073
down €7,073 (-52.0%), from €13,597 to €6,524
- Financial charges -€1,591
down €1,591 (-61.8%), from €2,575 to €985
- Taxes -€1,331
down €1,331 (-20.7%), from €6,429 to €5,098
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 | €251,580 | €256,164 | +€4,584 | +1.8% |
| Fixed assets | 21/28 | €12,124 | €3,779 | -€8,346 | -68.8% |
| Intangible fixed assets | 21 | €2,750 | - | -€2,750 | |
| Tangible fixed assets | 22/27 | €9,144 | €3,548 | -€5,596 | -61.2% |
| Plant, machinery and equipment | 23 | €1,146 | €881 | -€264 | -23.1% |
| Furniture and vehicles | 24 | €7,998 | €2,667 | -€5,331 | -66.7% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €239,455 | €252,385 | +€12,930 | +5.4% |
| Stocks and contracts in progress | 3 | €265 | €409 | +€144 | +54.4% |
| Stocks | 30/36 | €265 | €409 | +€144 | +54.4% |
| Amounts receivable within one year | 40/41 | €60,895 | €72,503 | +€11,608 | +19.1% |
| Trade receivables | 40 | €21,603 | €20,805 | -€798 | -3.7% |
| Other amounts receivable | 41 | €39,291 | €51,698 | +€12,406 | +31.6% |
| Current investments | 50/53 | €151,581 | €156,502 | +€4,920 | +3.2% |
| Cash at bank and in hand | 54/58 | €26,382 | €22,481 | -€3,901 | -14.8% |
| Deferred charges and accrued income | 490/1 | €332 | €490 | +€158 | +47.5% |
| Total equity and liabilities | 10/49 | €251,580 | €256,164 | +€4,584 | +1.8% |
| Equity | 10/15 | €211,301 | €220,555 | +€9,253 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,126 | €67,380 | +€9,253 | +15.9% |
| Distributable reserves | 133 | €58,126 | €67,380 | +€9,253 | +15.9% |
| Profit (loss) carried forward | 14 | €134,575 | €134,575 | = | 0.0% |
| Amounts payable | 17/49 | €40,279 | €35,610 | -€4,669 | -11.6% |
| Amounts payable within one year | 42/48 | €7,974 | €13,795 | +€5,821 | +73.0% |
| Current portion of amounts payable after more than one year | 42 | €5,967 | €5,833 | -€134 | -2.2% |
| Trade debts | 44 | €250 | €161 | -€89 | -35.5% |
| Suppliers | 440/4 | €250 | €161 | -€89 | -35.5% |
| Taxes, remuneration and social security | 45 | €1,757 | €7,801 | +€6,043 | +344% |
| Taxes | 450/3 | €657 | €6,801 | +€6,143 | +935% |
| Remuneration and social security | 454/9 | €1,100 | €1,000 | -€100 | -9.1% |
| Accrued charges and deferred income | 492/3 | €32,305 | €21,815 | -€10,490 | -32.5% |
| Turnover | 70 | €102,541 | €81,008 | -€21,533 | -21.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €92,433 | €77,908 | -€14,526 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,711 | €8,901 | +€189 | +2.2% |
| Other operating charges | 640/8 | €1,005 | €1,001 | -€3 | -0.3% |
| Gross operating margin | 9900 | €13,597 | €6,524 | -€7,073 | -52.0% |
| Operating profit (loss) | 9901 | €3,881 | -€3,378 | -€7,259 | |
| Financial income | 75/76B | €17,759 | €18,715 | +€955 | +5.4% |
| Recurring financial income | 75 | €5,204 | €8,225 | +€3,020 | +58.0% |
| Non-recurring financial income | 76B | €12,555 | €10,490 | -€2,065 | -16.4% |
| Financial charges | 65/66B | €2,575 | €985 | -€1,591 | -61.8% |
| Recurring financial charges | 65 | €2,575 | €985 | -€1,591 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | €19,065 | €14,352 | -€4,713 | -24.7% |
| Income taxes | 67/77 | €6,429 | €5,098 | -€1,331 | -20.7% |
| Profit (loss) for the period | 9904 | €12,635 | €9,253 | -€3,382 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,635 | €9,253 | -€3,382 | -26.8% |
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 27 October 2026 via checked.be.