N'Way: 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'Way
Largest movements
- Financial fixed assets -€178,381
down €178,381 (-73.4%), from €243,146 to €64,765
- Current investments +€112,004
up €112,004 (+294.8%), from €37,996 to €150,000
- Tangible fixed assets -€39,619
down €39,619 (-3.8%), from €1.0m to €1.0m
of which Land and buildings: -€37,400
- Receivables within one year +€35,572
up €35,572 (+269.5%), from €13,199 to €48,772
of which Other amounts receivable: +€43,991
- Cash +€25,807
up €25,807 (+80.2%), from €32,187 to €57,995
mainly Investment in fixed assets (net) (+€166,830) and Other debts (+€89,493)
- Other debts +€89,493
up €89,493 (+252.0%), from €35,507 to €125,000
- Profit (loss) carried forward -€77,291
down €77,291 (-13.5%), from €574,189 to €496,898
- Debts after one year -€42,001
down €42,001 (-7.0%), from €603,207 to €561,206
- Financial income +€62,586
up €62,586 (+55.1%), from €113,675 to €176,261
- Gross operating margin -€38,220
down €38,220 (-159.7%), from -€23,928 to -€62,148
- Financial charges -€2,567
down €2,567 (-19.9%), from €12,888 to €10,321
- Depreciation -€1,990
down €1,990 (-3.7%), from €53,161 to €51,171
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 | €1,373,126 | €1,329,157 | -€43,969 | -3.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,285,517 | €1,067,517 | -€218,001 | -17.0% |
| Tangible fixed assets | 22/27 | €1,042,372 | €1,002,752 | -€39,619 | -3.8% |
| Land and buildings | 22 | €1,036,108 | €998,708 | -€37,400 | -3.6% |
| Plant, machinery and equipment | 23 | €1,908 | €2,688 | +€780 | +40.9% |
| Furniture and vehicles | 24 | €4,356 | €1,357 | -€2,999 | -68.9% |
| Financial fixed assets | 28 | €243,146 | €64,765 | -€178,381 | -73.4% |
| Current assets | 29/58 | €87,609 | €261,640 | +€174,031 | +198.6% |
| Amounts receivable within one year | 40/41 | €13,199 | €48,772 | +€35,572 | +269.5% |
| Trade receivables | 40 | €8,419 | - | -€8,419 | |
| Other amounts receivable | 41 | €4,780 | €48,772 | +€43,991 | +920.3% |
| Current investments | 50/53 | €37,996 | €150,000 | +€112,004 | +294.8% |
| Cash at bank and in hand | 54/58 | €32,187 | €57,995 | +€25,807 | +80.2% |
| Deferred charges and accrued income | 490/1 | €4,227 | €4,874 | +€647 | +15.3% |
| Total equity and liabilities | 10/49 | €1,373,126 | €1,329,157 | -€43,969 | -3.2% |
| Equity | 10/15 | €676,709 | €599,418 | -€77,291 | -11.4% |
| Contributions | 10/11 | €77,660 | €77,660 | = | 0.0% |
| Reserves | 13 | €24,860 | €24,860 | = | 0.0% |
| Distributable reserves | 133 | €24,860 | €24,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €574,189 | €496,898 | -€77,291 | -13.5% |
| Amounts payable | 17/49 | €696,418 | €729,739 | +€33,322 | +4.8% |
| Amounts payable after more than one year | 17 | €603,207 | €561,206 | -€42,001 | -7.0% |
| Financial debts | 170/4 | €603,207 | €561,206 | -€42,001 | -7.0% |
| Amounts payable within one year | 42/48 | €93,211 | €168,346 | +€75,135 | +80.6% |
| Current portion of amounts payable after more than one year | 42 | €41,549 | €42,001 | +€452 | +1.1% |
| Financial debts | 43 | €873 | - | -€873 | |
| Credit institutions | 430/8 | €873 | - | -€873 | |
| Trade debts | 44 | €13,639 | €1,095 | -€12,544 | -92.0% |
| Suppliers | 440/4 | €13,639 | €1,095 | -€12,544 | -92.0% |
| Taxes, remuneration and social security | 45 | €1,644 | €250 | -€1,394 | -84.8% |
| Taxes | 450/3 | €1,394 | - | -€1,394 | |
| Remuneration and social security | 454/9 | €250 | €250 | = | 0.0% |
| Other amounts payable | 47/48 | €35,507 | €125,000 | +€89,493 | +252.0% |
| Accrued charges and deferred income | 492/3 | - | €187 | +€187 | |
| Non-recurring operating income | 76A | €95 | €390 | +€294 | +308.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,161 | €51,171 | -€1,990 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Other operating charges | 640/8 | €4,605 | €4,747 | +€143 | +3.1% |
| Non-recurring operating charges | 66A | €816 | €164 | -€652 | -79.9% |
| Gross operating margin | 9900 | -€23,928 | -€62,148 | -€38,220 | -159.7% |
| Operating profit (loss) | 9901 | -€82,510 | -€118,231 | -€35,721 | -43.3% |
| Financial income | 75/76B | €113,675 | €176,261 | +€62,586 | +55.1% |
| Recurring financial income | 75 | €113,675 | €176,261 | +€62,586 | +55.1% |
| Financial charges | 65/66B | €12,888 | €10,321 | -€2,567 | -19.9% |
| Recurring financial charges | 65 | €12,888 | €10,321 | -€2,567 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €18,277 | €47,709 | +€29,432 | +161.0% |
| Income taxes | 67/77 | €82 | €0 | -€82 | -100.0% |
| Profit (loss) for the period | 9904 | €18,195 | €47,709 | +€29,514 | +162.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,195 | €47,709 | +€29,514 | +162.2% |
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 10 October 2026 via checked.be.