NAOWI: 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.
NAOWI
Largest movements
- Cash +€29,531
up €29,531 (+279.3%), from €10,574 to €40,105
mainly Net result for the year (+€23,978) and Tax, wage and social debts (+€7,013)
- Receivables within one year +€2,141
up €2,141 (+471.8%), from €454 to €2,594
- Reserves +€23,978
up €23,978 (+160.0%), from €14,989 to €38,967
- Tax, wage and social debts +€7,013
up €7,013 (+161.6%), from €4,339 to €11,352
- Trade debts +€724
up €724 (+94.5%), from €766 to €1,490
- Gross operating margin +€15,585
up €15,585 (+77.2%), from €20,192 to €35,777
- Depreciation +€3,027
up €3,027 (+564.5%), from €536 to €3,563
- Taxes +€2,828
up €2,828 (+67.6%), from €4,186 to €7,013
- Other operating charges +€731
up €731 (+171.6%), from €426 to €1,156
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 | €22,094 | €53,809 | +€31,715 | +143.5% |
| Fixed assets | 21/28 | €10,478 | €10,377 | -€100 | -1.0% |
| Tangible fixed assets | 22/27 | €10,478 | €10,377 | -€100 | -1.0% |
| Plant, machinery and equipment | 23 | €4,374 | €3,451 | -€923 | -21.1% |
| Furniture and vehicles | 24 | €6,104 | €6,926 | +€822 | +13.5% |
| Current assets | 29/58 | €11,616 | €43,432 | +€31,816 | +273.9% |
| Amounts receivable within one year | 40/41 | €454 | €2,594 | +€2,141 | +471.8% |
| Other amounts receivable | 41 | €454 | €2,594 | +€2,141 | +471.8% |
| Cash at bank and in hand | 54/58 | €10,574 | €40,105 | +€29,531 | +279.3% |
| Deferred charges and accrued income | 490/1 | €588 | €732 | +€144 | +24.4% |
| Total equity and liabilities | 10/49 | €22,094 | €53,809 | +€31,715 | +143.5% |
| Equity | 10/15 | €16,989 | €40,967 | +€23,978 | +141.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €14,989 | €38,967 | +€23,978 | +160.0% |
| Distributable reserves | 133 | €14,989 | €38,967 | +€23,978 | +160.0% |
| Amounts payable | 17/49 | €5,105 | €12,842 | +€7,737 | +151.6% |
| Amounts payable within one year | 42/48 | €5,105 | €12,842 | +€7,737 | +151.6% |
| Trade debts | 44 | €766 | €1,490 | +€724 | +94.5% |
| Suppliers | 440/4 | €766 | €1,490 | +€724 | +94.5% |
| Taxes, remuneration and social security | 45 | €4,339 | €11,352 | +€7,013 | +161.6% |
| Taxes | 450/3 | €4,339 | €11,352 | +€7,013 | +161.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €536 | €3,563 | +€3,027 | +564.5% |
| Other operating charges | 640/8 | €426 | €1,156 | +€731 | +171.6% |
| Gross operating margin | 9900 | €20,192 | €35,777 | +€15,585 | +77.2% |
| Operating profit (loss) | 9901 | €19,230 | €31,057 | +€11,827 | +61.5% |
| Financial charges | 65/66B | €55 | €66 | +€11 | +20.0% |
| Recurring financial charges | 65 | €55 | €66 | +€11 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €19,175 | €30,991 | +€11,816 | +61.6% |
| Income taxes | 67/77 | €4,186 | €7,013 | +€2,828 | +67.6% |
| Profit (loss) for the period | 9904 | €14,989 | €23,978 | +€8,989 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,989 | €23,978 | +€8,989 | +60.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.