NBV NM: 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.
NBV NM
Largest movements
- Cash -€58,660
down €58,660 (-27.9%), from €210,434 to €151,774
mainly Contributions, distributions and other (-€74,500) and Receivables within one year (-€41,757)
- Receivables within one year +€41,757
up €41,757 (+37.4%), from €111,549 to €153,306
of which Other amounts receivable: +€60,675
- Tangible fixed assets -€9,785
down €9,785 (-25.8%), from €37,939 to €28,154
of which Furniture and vehicles: -€9,785
- Reserves -€46,500
down €46,500 (-14.2%), from €326,650 to €280,150
- Tax, wage and social debts +€26,952
up €26,952 (+197%), from €13,711 to €40,663
- Current portion of long-term debt -€12,801
down €12,801 (-83.0%), from €15,426 to €2,625
- Trade debts +€7,380
new in 2025: €7,380
- Gross operating margin -€23,125
down €23,125 (-29.8%), from €77,645 to €54,520
- Taxes -€5,571
down €5,571 (-27.6%), from €20,187 to €14,616
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 | €359,922 | €333,234 | -€26,688 | -7.4% |
| Fixed assets | 21/28 | €37,939 | €28,154 | -€9,785 | -25.8% |
| Tangible fixed assets | 22/27 | €37,939 | €28,154 | -€9,785 | -25.8% |
| Furniture and vehicles | 24 | €11,806 | €2,021 | -€9,785 | -82.9% |
| Other tangible fixed assets | 26 | €26,133 | €26,133 | = | 0.0% |
| Current assets | 29/58 | €321,983 | €305,080 | -€16,903 | -5.2% |
| Amounts receivable within one year | 40/41 | €111,549 | €153,306 | +€41,757 | +37.4% |
| Trade receivables | 40 | €107,224 | €88,306 | -€18,918 | -17.6% |
| Other amounts receivable | 41 | €4,325 | €65,000 | +€60,675 | +1,403% |
| Cash at bank and in hand | 54/58 | €210,434 | €151,774 | -€58,660 | -27.9% |
| Total equity and liabilities | 10/49 | €359,922 | €333,234 | -€26,688 | -7.4% |
| Equity | 10/15 | €327,179 | €280,689 | -€46,490 | -14.2% |
| Reserves | 13 | €326,650 | €280,150 | -€46,500 | -14.2% |
| Distributable reserves | 133 | €326,650 | €280,150 | -€46,500 | -14.2% |
| Profit (loss) carried forward | 14 | €529 | €539 | +€10 | +1.9% |
| Amounts payable | 17/49 | €32,743 | €52,545 | +€19,802 | +60.5% |
| Amounts payable after more than one year | 17 | €2,625 | - | -€2,625 | |
| Financial debts | 170/4 | €2,625 | - | -€2,625 | |
| Amounts payable within one year | 42/48 | €30,118 | €52,545 | +€22,427 | +74.5% |
| Current portion of amounts payable after more than one year | 42 | €15,426 | €2,625 | -€12,801 | -83.0% |
| Trade debts | 44 | - | €7,380 | +€7,380 | |
| Suppliers | 440/4 | - | €7,380 | +€7,380 | |
| Taxes, remuneration and social security | 45 | €13,711 | €40,663 | +€26,952 | +197% |
| Taxes | 450/3 | €13,711 | €40,663 | +€26,952 | +197% |
| Other amounts payable | 47/48 | €981 | €1,877 | +€896 | +91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,784 | €9,785 | +€1 | 0.0% |
| Other operating charges | 640/8 | €1,028 | €1,207 | +€179 | +17.4% |
| Gross operating margin | 9900 | €77,645 | €54,520 | -€23,125 | -29.8% |
| Operating profit (loss) | 9901 | €66,833 | €43,528 | -€23,305 | -34.9% |
| Financial charges | 65/66B | €1,126 | €902 | -€224 | -19.9% |
| Recurring financial charges | 65 | €1,126 | €902 | -€224 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €65,707 | €42,626 | -€23,081 | -35.1% |
| Income taxes | 67/77 | €20,187 | €14,616 | -€5,571 | -27.6% |
| Profit (loss) for the period | 9904 | €45,520 | €28,010 | -€17,510 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,520 | €28,010 | -€17,510 | -38.5% |
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 30 October 2026 via checked.be.