NEWBORN: 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.
NEWBORN
Largest movements
- Receivables after one year -€181,608
down €181,608 (-41.3%), from €440,000 to €258,392
- Receivables within one year +€163,273
up €163,273 (+32.4%), from €504,233 to €667,506
of which Other amounts receivable: +€155,826
- Current investments +€100,969
up €100,969 (+48.7%), from €207,327 to €308,296
- Cash +€67,729
up €67,729 (+23.3%), from €290,200 to €357,930
mainly Net result for the year (+€378,513) and Receivables after one year (+€181,608)
- Intangible fixed assets -€33,500
down €33,500 (-25.7%), from €130,500 to €97,000
- Reserves +€378,513
up €378,513 (+32.5%), from €1.2m to €1.5m
of which Distributable reserves: +€378,513
- Other debts -€132,052
down €132,052 (-89.6%), from €147,313 to €15,262
- Trade debts -€122,606
down €122,606 (-59.1%), from €207,620 to €85,014
- Tax, wage and social debts -€26,809
down €26,809 (-10.7%), from €249,972 to €223,162
of which Taxes: -€40,876
- Staff costs +€138,324
up €138,324 (+14.9%), from €929,878 to €1.1m
- Gross operating margin +€94,157
up €94,157 (+5.8%), from €1.6m to €1.7m
- Other operating charges -€20,751
down €20,751 (-60.5%), from €34,278 to €13,527
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 | €1,813,233 | €1,925,435 | +€112,202 | +6.2% |
| Fixed assets | 21/28 | €354,034 | €320,925 | -€33,109 | -9.4% |
| Intangible fixed assets | 21 | €130,500 | €97,000 | -€33,500 | -25.7% |
| Tangible fixed assets | 22/27 | €195,425 | €195,816 | +€391 | +0.2% |
| Plant, machinery and equipment | 23 | €99,817 | €97,626 | -€2,190 | -2.2% |
| Furniture and vehicles | 24 | €56,246 | €40,087 | -€16,159 | -28.7% |
| Other tangible fixed assets | 26 | €39,363 | €58,103 | +€18,740 | +47.6% |
| Financial fixed assets | 28 | €28,108 | €28,108 | = | 0.0% |
| Current assets | 29/58 | €1,459,200 | €1,604,510 | +€145,311 | +10.0% |
| Amounts receivable after more than one year | 29 | €440,000 | €258,392 | -€181,608 | -41.3% |
| Other amounts receivable | 291 | €440,000 | €258,392 | -€181,608 | -41.3% |
| Stocks and contracts in progress | 3 | €17,439 | €12,387 | -€5,052 | -29.0% |
| Stocks | 30/36 | €17,439 | €12,387 | -€5,052 | -29.0% |
| Amounts receivable within one year | 40/41 | €504,233 | €667,506 | +€163,273 | +32.4% |
| Trade receivables | 40 | €54,689 | €62,136 | +€7,447 | +13.6% |
| Other amounts receivable | 41 | €449,544 | €605,370 | +€155,826 | +34.7% |
| Current investments | 50/53 | €207,327 | €308,296 | +€100,969 | +48.7% |
| Cash at bank and in hand | 54/58 | €290,200 | €357,930 | +€67,729 | +23.3% |
| Total equity and liabilities | 10/49 | €1,813,233 | €1,925,435 | +€112,202 | +6.2% |
| Equity | 10/15 | €1,182,957 | €1,561,470 | +€378,513 | +32.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,162,957 | €1,541,470 | +€378,513 | +32.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €1,160,957 | €1,539,470 | +€378,513 | +32.6% |
| Amounts payable | 17/49 | €630,277 | €363,965 | -€266,311 | -42.3% |
| Amounts payable within one year | 42/48 | €630,277 | €363,965 | -€266,311 | -42.3% |
| Financial debts | 43 | €25,372 | €40,527 | +€15,155 | +59.7% |
| Credit institutions | 430/8 | €25,372 | €40,527 | +€15,155 | +59.7% |
| Trade debts | 44 | €207,620 | €85,014 | -€122,606 | -59.1% |
| Suppliers | 440/4 | €207,620 | €85,014 | -€122,606 | -59.1% |
| Taxes, remuneration and social security | 45 | €249,972 | €223,162 | -€26,809 | -10.7% |
| Taxes | 450/3 | €145,725 | €104,850 | -€40,876 | -28.0% |
| Remuneration and social security | 454/9 | €104,246 | €118,313 | +€14,067 | +13.5% |
| Other amounts payable | 47/48 | €147,313 | €15,262 | -€132,052 | -89.6% |
| Remuneration, social security and pensions | 62 | €929,878 | €1,068,202 | +€138,324 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,904 | €104,109 | +€10,205 | +10.9% |
| Other operating charges | 640/8 | €34,278 | €13,527 | -€20,751 | -60.5% |
| Gross operating margin | 9900 | €1,635,353 | €1,729,510 | +€94,157 | +5.8% |
| Operating profit (loss) | 9901 | €577,292 | €543,671 | -€33,621 | -5.8% |
| Financial income | 75/76B | €27,083 | €39,857 | +€12,774 | +47.2% |
| Recurring financial income | 75 | €27,083 | €39,857 | +€12,774 | +47.2% |
| Financial charges | 65/66B | €26,892 | €27,005 | +€113 | +0.4% |
| Recurring financial charges | 65 | €26,892 | €27,005 | +€113 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €577,484 | €556,524 | -€20,960 | -3.6% |
| Income taxes | 67/77 | €183,086 | €178,011 | -€5,075 | -2.8% |
| Profit (loss) for the period | 9904 | €394,397 | €378,513 | -€15,884 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €394,397 | €378,513 | -€15,884 | -4.0% |
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 6 October 2026 via checked.be.