NIW-PROJECTS: 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.
NIW-PROJECTS
Largest movements
- Cash +€63,357
up €63,357 (+324%), from €19,558 to €82,915
mainly Net result for the year (+€22,958) and Trade debts (+€22,301)
- Tangible fixed assets +€34,918
up €34,918 (+1,791%), from €1,949 to €36,867
of which Furniture and vehicles: +€33,440
- Receivables within one year -€20,423
down €20,423 (-64.6%), from €31,631 to €11,207
of which Trade receivables: -€18,984
- Trade debts +€22,301
up €22,301 (+5,946%), from €375 to €22,676
- Profit (loss) carried forward +€22,125
new in 2025: €22,125
- Debts after one year +€19,312
new in 2025: €19,312
- Other debts +€9,091
new in 2025: €9,091
- Current portion of long-term debt +€5,287
new in 2025: €5,287
- Gross operating margin -€10,079
down €10,079 (-22.2%), from €45,438 to €35,359
- Taxes -€9,194
down €9,194 (-73.6%), from €12,500 to €3,306
- Depreciation +€5,426
up €5,426 (+311%), from €1,744 to €7,170
- Financial charges +€1,034
up €1,034 (+2,034%), from €51 to €1,084
- Other operating charges +€547
up €547 (+166%), from €329 to €877
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 | €53,138 | €131,340 | +€78,202 | +147% |
| Fixed assets | 21/28 | €1,949 | €37,218 | +€35,269 | +1,809% |
| Tangible fixed assets | 22/27 | €1,949 | €36,867 | +€34,918 | +1,791% |
| Plant, machinery and equipment | 23 | - | €1,478 | +€1,478 | |
| Furniture and vehicles | 24 | €1,949 | €35,390 | +€33,440 | +1,716% |
| Financial fixed assets | 28 | - | €350 | +€350 | |
| Current assets | 29/58 | €51,188 | €94,122 | +€42,933 | +83.9% |
| Amounts receivable within one year | 40/41 | €31,631 | €11,207 | -€20,423 | -64.6% |
| Trade receivables | 40 | €30,191 | €11,207 | -€18,984 | -62.9% |
| Other amounts receivable | 41 | €1,439 | - | -€1,439 | |
| Cash at bank and in hand | 54/58 | €19,558 | €82,915 | +€63,357 | +324% |
| Total equity and liabilities | 10/49 | €53,138 | €131,340 | +€78,202 | +147% |
| Equity | 10/15 | €35,863 | €57,988 | +€22,125 | +61.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €30,863 | €30,863 | = | 0.0% |
| Distributable reserves | 133 | €30,863 | €30,863 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €22,125 | +€22,125 | |
| Amounts payable | 17/49 | €17,274 | €73,351 | +€56,077 | +325% |
| Amounts payable after more than one year | 17 | - | €19,312 | +€19,312 | |
| Financial debts | 170/4 | - | €19,312 | +€19,312 | |
| Amounts payable within one year | 42/48 | €17,274 | €53,858 | +€36,583 | +212% |
| Current portion of amounts payable after more than one year | 42 | - | €5,287 | +€5,287 | |
| Trade debts | 44 | €375 | €22,676 | +€22,301 | +5,946% |
| Suppliers | 440/4 | €375 | €22,676 | +€22,301 | +5,946% |
| Taxes, remuneration and social security | 45 | €16,899 | €16,804 | -€96 | -0.6% |
| Taxes | 450/3 | €16,899 | €16,804 | -€96 | -0.6% |
| Other amounts payable | 47/48 | - | €9,091 | +€9,091 | |
| Accrued charges and deferred income | 492/3 | - | €181 | +€181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,744 | €7,170 | +€5,426 | +311% |
| Other operating charges | 640/8 | €329 | €877 | +€547 | +166% |
| Gross operating margin | 9900 | €45,438 | €35,359 | -€10,079 | -22.2% |
| Operating profit (loss) | 9901 | €43,365 | €27,313 | -€16,052 | -37.0% |
| Financial income | 75/76B | €49 | €36 | -€14 | -27.6% |
| Recurring financial income | 75 | €49 | €36 | -€14 | -27.6% |
| Financial charges | 65/66B | €51 | €1,084 | +€1,034 | +2,034% |
| Recurring financial charges | 65 | €51 | €1,084 | +€1,034 | +2,034% |
| Profit (loss) for the period before taxes | 9903 | €43,363 | €26,264 | -€17,099 | -39.4% |
| Income taxes | 67/77 | €12,500 | €3,306 | -€9,194 | -73.6% |
| Profit (loss) for the period | 9904 | €30,863 | €22,958 | -€7,905 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,863 | €22,958 | -€7,905 | -25.6% |
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 15 October 2026 via checked.be.