NAW GROUP: 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.
NAW GROUP
Largest movements
- Cash -€10,868
down €10,868 (-80.1%), from €13,571 to €2,703
mainly Other debts (-€17,021) and Investment in fixed assets (net) (-€13,250)
- Tangible fixed assets -€1,806
down €1,806 (-8.3%), from €21,643 to €19,838
- Deferred charges and accrued income -€772
no longer reported in 2025 (was €772)
- Other debts -€17,021
down €17,021 (-72.6%), from €23,444 to €6,423
- Profit (loss) carried forward +€1,858
up €1,858 (+22.3%), from €8,323 to €10,181
- Trade debts +€609
up €609 (+458%), from €133 to €742
- Tax, wage and social debts +€467
up €467 (+13.3%), from €3,513 to €3,980
- Advances received +€445
new in 2025: €445
- Turnover +€12,407
up €12,407 (+44.9%), from €27,658 to €40,065
- Depreciation +€11,906
up €11,906 (+378%), from €3,150 to €15,056
- Purchases and services +€8,328
up €8,328 (+66.6%), from €12,509 to €20,837
- Gross operating margin +€4,080
up €4,080 (+26.9%), from €15,149 to €19,229
- Taxes -€2,155
down €2,155 (-77.7%), from €2,774 to €619
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 | €36,413 | €23,171 | -€13,243 | -36.4% |
| Fixed assets | 21/28 | €21,853 | €20,048 | -€1,806 | -8.3% |
| Tangible fixed assets | 22/27 | €21,643 | €19,838 | -€1,806 | -8.3% |
| Furniture and vehicles | 24 | €21,643 | €19,838 | -€1,806 | -8.3% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €14,560 | €3,123 | -€11,437 | -78.6% |
| Amounts receivable within one year | 40/41 | €217 | €419 | +€202 | +93.3% |
| Trade receivables | 40 | - | €419 | +€419 | |
| Other amounts receivable | 41 | €217 | - | -€217 | |
| Cash at bank and in hand | 54/58 | €13,571 | €2,703 | -€10,868 | -80.1% |
| Deferred charges and accrued income | 490/1 | €772 | - | -€772 | |
| Total equity and liabilities | 10/49 | €36,413 | €23,171 | -€13,243 | -36.4% |
| Equity | 10/15 | €9,323 | €11,181 | +€1,858 | +19.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Profit (loss) carried forward | 14 | €8,323 | €10,181 | +€1,858 | +22.3% |
| Amounts payable | 17/49 | €27,090 | €11,990 | -€15,100 | -55.7% |
| Amounts payable within one year | 42/48 | €27,090 | €11,590 | -€15,500 | -57.2% |
| Trade debts | 44 | €133 | €742 | +€609 | +458% |
| Suppliers | 440/4 | €133 | €742 | +€609 | +458% |
| Advances received on contracts in progress | 46 | - | €445 | +€445 | |
| Taxes, remuneration and social security | 45 | €3,513 | €3,980 | +€467 | +13.3% |
| Taxes | 450/3 | €3,513 | €3,980 | +€467 | +13.3% |
| Other amounts payable | 47/48 | €23,444 | €6,423 | -€17,021 | -72.6% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Turnover | 70 | €27,658 | €40,065 | +€12,407 | +44.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €12,509 | €20,837 | +€8,328 | +66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,150 | €15,056 | +€11,906 | +378% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €974 | +€974 | |
| Gross operating margin | 9900 | €15,149 | €19,229 | +€4,080 | +26.9% |
| Operating profit (loss) | 9901 | €11,612 | €2,800 | -€8,812 | -75.9% |
| Financial charges | 65/66B | €514 | €323 | -€192 | -37.3% |
| Recurring financial charges | 65 | €514 | €323 | -€192 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €11,097 | €2,477 | -€8,620 | -77.7% |
| Income taxes | 67/77 | €2,774 | €619 | -€2,155 | -77.7% |
| Profit (loss) for the period | 9904 | €8,323 | €1,858 | -€6,465 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,323 | €1,858 | -€6,465 | -77.7% |
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 31 October 2026 via checked.be.