NAWI: 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.
NAWI
Largest movements
- Receivables within one year +€74,807
up €74,807 (+14886.0%), from €503 to €75,309
of which Trade receivables: +€74,868
- Stocks and contracts +€4,000
up €4,000 (+6.1%), from €65,351 to €69,350
- Intangible fixed assets +€3,327
new in 2025: €3,327
- Tangible fixed assets +€2,703
up €2,703 (+129.7%), from €2,084 to €4,787
- Cash -€2,162
down €2,162 (-15.0%), from €14,391 to €12,229
mainly Receivables within one year (-€74,807) and Investment in fixed assets (net) (-€6,950)
- Trade debts +€52,358
up €52,358 (+14526.4%), from €360 to €52,718
- Profit (loss) carried forward +€28,223
up €28,223 (+137.7%), from €20,496 to €48,719
- Tax, wage and social debts +€2,571
up €2,571 (+38.0%), from €6,772 to €9,343
- Gross operating margin +€10,811
up €10,811 (+35.7%), from €30,280 to €41,091
- Taxes +€2,571
up €2,571 (+38.0%), from €6,772 to €9,343
- Depreciation +€534
up €534 (+138.3%), from €386 to €920
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 | €82,628 | €165,779 | +€83,151 | +100.6% |
| Fixed assets | 21/28 | €2,084 | €8,114 | +€6,030 | +289.3% |
| Intangible fixed assets | 21 | - | €3,327 | +€3,327 | |
| Tangible fixed assets | 22/27 | €2,084 | €4,787 | +€2,703 | +129.7% |
| Furniture and vehicles | 24 | €2,084 | €4,787 | +€2,703 | +129.7% |
| Current assets | 29/58 | €80,544 | €157,665 | +€77,121 | +95.7% |
| Stocks and contracts in progress | 3 | €65,351 | €69,350 | +€4,000 | +6.1% |
| Stocks | 30/36 | €65,351 | €69,350 | +€4,000 | +6.1% |
| Amounts receivable within one year | 40/41 | €503 | €75,309 | +€74,807 | +14886.0% |
| Trade receivables | 40 | - | €74,868 | +€74,868 | |
| Other amounts receivable | 41 | €503 | €441 | -€61 | -12.2% |
| Cash at bank and in hand | 54/58 | €14,391 | €12,229 | -€2,162 | -15.0% |
| Deferred charges and accrued income | 490/1 | €301 | €777 | +€477 | +158.7% |
| Total equity and liabilities | 10/49 | €82,628 | €165,779 | +€83,151 | +100.6% |
| Equity | 10/15 | €25,496 | €53,719 | +€28,223 | +110.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,496 | €48,719 | +€28,223 | +137.7% |
| Amounts payable | 17/49 | €57,132 | €112,060 | +€54,928 | +96.1% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,132 | €62,060 | +€54,928 | +770.1% |
| Trade debts | 44 | €360 | €52,718 | +€52,358 | +14526.4% |
| Suppliers | 440/4 | €360 | €52,718 | +€52,358 | +14526.4% |
| Taxes, remuneration and social security | 45 | €6,772 | €9,343 | +€2,571 | +38.0% |
| Taxes | 450/3 | €6,772 | €9,343 | +€2,571 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386 | €920 | +€534 | +138.3% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €30,280 | €41,091 | +€10,811 | +35.7% |
| Operating profit (loss) | 9901 | €29,832 | €40,109 | +€10,277 | +34.5% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,564 | €2,548 | -€16 | -0.6% |
| Recurring financial charges | 65 | €2,564 | €2,548 | -€16 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €27,268 | €37,565 | +€10,297 | +37.8% |
| Income taxes | 67/77 | €6,772 | €9,343 | +€2,571 | +38.0% |
| Profit (loss) for the period | 9904 | €20,496 | €28,223 | +€7,727 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,496 | €28,223 | +€7,727 | +37.7% |
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 5 October 2026 via checked.be.