NBVFM: 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.
NBVFM
Largest movements
- Receivables within one year +€789,615
up €789,615 (+396.6%), from €199,078 to €988,693
of which Other amounts receivable: +€819,163
- Receivables after one year -€209,000
down €209,000 (-52.3%), from €400,000 to €191,000
- Current investments -€146,817
down €146,817 (-10.9%), from €1.3m to €1.2m
- Cash +€64,392
up €64,392 (+38.4%), from €167,565 to €231,957
mainly Net result for the year (+€705,906) and Receivables after one year (+€209,000)
- Reserves +€535,200
up €535,200 (+20.0%), from €2.7m to €3.2m
of which Distributable reserves: +€535,200
- Contributions -€50,000
down €50,000 (-9.1%), from €550,000 to €500,000
- Financial income +€424,247
up €424,247 (+196.4%), from €216,065 to €640,312
- Gross operating margin -€57,458
down €57,458 (-17.9%), from €320,648 to €263,190
- Taxes +€32,791
up €32,791 (+30.2%), from €108,581 to €141,372
- Depreciation +€6,239
up €6,239 (+16.7%), from €37,472 to €43,711
- Financial charges -€4,955
down €4,955 (-35.1%), from €14,107 to €9,152
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,771,134 | €4,259,191 | +€488,057 | +12.9% |
| Fixed assets | 21/28 | €1,654,973 | €1,642,093 | -€12,880 | -0.8% |
| Tangible fixed assets | 22/27 | €631,524 | €618,643 | -€12,880 | -2.0% |
| Land and buildings | 22 | €622,436 | €587,206 | -€35,230 | -5.7% |
| Plant, machinery and equipment | 23 | €1,692 | €3,737 | +€2,046 | +120.9% |
| Furniture and vehicles | 24 | €4,336 | €25,097 | +€20,761 | +478.8% |
| Other tangible fixed assets | 26 | €3,060 | €2,603 | -€457 | -14.9% |
| Financial fixed assets | 28 | €1,023,449 | €1,023,449 | = | 0.0% |
| Current assets | 29/58 | €2,116,161 | €2,617,099 | +€500,937 | +23.7% |
| Amounts receivable after more than one year | 29 | €400,000 | €191,000 | -€209,000 | -52.3% |
| Other amounts receivable | 291 | €400,000 | €191,000 | -€209,000 | -52.3% |
| Amounts receivable within one year | 40/41 | €199,078 | €988,693 | +€789,615 | +396.6% |
| Trade receivables | 40 | €30,000 | €453 | -€29,547 | -98.5% |
| Other amounts receivable | 41 | €169,078 | €988,241 | +€819,163 | +484.5% |
| Current investments | 50/53 | €1,349,518 | €1,202,701 | -€146,817 | -10.9% |
| Cash at bank and in hand | 54/58 | €167,565 | €231,957 | +€64,392 | +38.4% |
| Deferred charges and accrued income | 490/1 | €0 | €2,747 | +€2,747 | |
| Total equity and liabilities | 10/49 | €3,771,134 | €4,259,191 | +€488,057 | +12.9% |
| Equity | 10/15 | €3,232,812 | €3,718,018 | +€485,206 | +15.0% |
| Contributions | 10/11 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Reserves | 13 | €2,673,100 | €3,208,300 | +€535,200 | +20.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,673,100 | €3,208,300 | +€535,200 | +20.0% |
| Profit (loss) carried forward | 14 | €9,712 | €9,718 | +€6 | +0.1% |
| Amounts payable | 17/49 | €538,322 | €541,173 | +€2,851 | +0.5% |
| Amounts payable after more than one year | 17 | €475,512 | €450,650 | -€24,862 | -5.2% |
| Financial debts | 170/4 | €475,512 | €450,650 | -€24,862 | -5.2% |
| Amounts payable within one year | 42/48 | €61,810 | €88,792 | +€26,981 | +43.7% |
| Current portion of amounts payable after more than one year | 42 | €24,390 | €24,862 | +€472 | +1.9% |
| Trade debts | 44 | €1,254 | €6,020 | +€4,767 | +380.2% |
| Suppliers | 440/4 | €1,254 | €6,020 | +€4,767 | +380.2% |
| Taxes, remuneration and social security | 45 | €36,167 | €57,909 | +€21,742 | +60.1% |
| Taxes | 450/3 | €36,167 | €57,909 | +€21,742 | +60.1% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,731 | +€731 | +73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,472 | €43,711 | +€6,239 | +16.7% |
| Other operating charges | 640/8 | €1,832 | €3,360 | +€1,527 | +83.3% |
| Gross operating margin | 9900 | €320,648 | €263,190 | -€57,458 | -17.9% |
| Operating profit (loss) | 9901 | €281,343 | €216,119 | -€65,224 | -23.2% |
| Financial income | 75/76B | €216,065 | €640,312 | +€424,247 | +196.4% |
| Recurring financial income | 75 | €216,065 | €640,312 | +€424,247 | +196.4% |
| Financial charges | 65/66B | €14,107 | €9,152 | -€4,955 | -35.1% |
| Recurring financial charges | 65 | €14,107 | €9,152 | -€4,955 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €483,301 | €847,278 | +€363,977 | +75.3% |
| Income taxes | 67/77 | €108,581 | €141,372 | +€32,791 | +30.2% |
| Profit (loss) for the period | 9904 | €374,720 | €705,906 | +€331,186 | +88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €374,720 | €705,906 | +€331,186 | +88.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.