NLBV: 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.
NLBV
Largest movements
- Stocks and contracts +€87,243
up €87,243 (+88.1%), from €99,036 to €186,279
- Intangible fixed assets -€55,000
down €55,000 (-20.0%), from €275,000 to €220,000
- Tangible fixed assets -€38,682
down €38,682 (-1.9%), from €2.0m to €2.0m
of which Land and buildings: -€45,833
- Debts after one year -€231,352
down €231,352 (-12.2%), from €1.9m to €1.7m
- Reserves +€199,851
up €199,851 (+344.2%), from €58,066 to €257,917
- Trade debts +€167,478
up €167,478 (+154.1%), from €108,698 to €276,176
- Profit (loss) carried forward -€125,679
no longer reported in 2025 (was €125,679)
- Tax, wage and social debts -€47,558
down €47,558 (-72.5%), from €65,559 to €18,000
of which Taxes: -€48,527
- Staff costs +€59,641
up €59,641 (+25.0%), from €238,747 to €298,388
- Financial charges -€27,126
down €27,126 (-31.1%), from €87,100 to €59,975
of which Financial charges: -€26,606
- Other operating charges +€24,142
up €24,142 (+1309.0%), from €1,844 to €25,986
- Taxes -€19,709
down €19,709 (-41.1%), from €47,993 to €28,285
- Gross operating margin -€8,624
down €8,624 (-1.4%), from €636,304 to €627,680
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 | €2,613,181 | €2,539,622 | -€73,559 | -2.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €2,318,560 | €2,224,877 | -€93,682 | -4.0% |
| Intangible fixed assets | 21 | €275,000 | €220,000 | -€55,000 | -20.0% |
| Tangible fixed assets | 22/27 | €2,043,560 | €2,004,877 | -€38,682 | -1.9% |
| Land and buildings | 22 | €1,882,047 | €1,836,214 | -€45,833 | -2.4% |
| Plant, machinery and equipment | 23 | €33,619 | €40,039 | +€6,420 | +19.1% |
| Furniture and vehicles | 24 | €9,586 | €7,817 | -€1,769 | -18.5% |
| Leasing and similar rights | 25 | €47,237 | €33,185 | -€14,052 | -29.7% |
| Other tangible fixed assets | 26 | €71,070 | €87,622 | +€16,552 | +23.3% |
| Current assets | 29/58 | €294,621 | €314,745 | +€20,123 | +6.8% |
| Stocks and contracts in progress | 3 | €99,036 | €186,279 | +€87,243 | +88.1% |
| Stocks | 30/36 | €99,036 | €186,279 | +€87,243 | +88.1% |
| Amounts receivable within one year | 40/41 | €71,662 | €68,048 | -€3,614 | -5.0% |
| Trade receivables | 40 | €65,305 | €68,048 | +€2,743 | +4.2% |
| Other amounts receivable | 41 | €6,356 | - | -€6,356 | |
| Current investments | 50/53 | €35,052 | €9,251 | -€25,801 | -73.6% |
| Cash at bank and in hand | 54/58 | €74,219 | €49,686 | -€24,534 | -33.1% |
| Deferred charges and accrued income | 490/1 | €14,652 | €1,480 | -€13,172 | -89.9% |
| Total equity and liabilities | 10/49 | €2,613,181 | €2,539,622 | -€73,559 | -2.8% |
| Equity | 10/15 | €203,745 | €277,917 | +€74,172 | +36.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €58,066 | €257,917 | +€199,851 | +344.2% |
| Distributable reserves | 133 | €58,066 | €257,917 | +€199,851 | +344.2% |
| Profit (loss) carried forward | 14 | €125,679 | - | -€125,679 | |
| Amounts payable | 17/49 | €2,409,436 | €2,261,705 | -€147,731 | -6.1% |
| Amounts payable after more than one year | 17 | €1,891,483 | €1,660,131 | -€231,352 | -12.2% |
| Financial debts | 170/4 | €1,891,483 | €1,660,131 | -€231,352 | -12.2% |
| Amounts payable within one year | 42/48 | €517,953 | €601,574 | +€83,621 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €243,626 | €248,650 | +€5,024 | +2.1% |
| Trade debts | 44 | €108,698 | €276,176 | +€167,478 | +154.1% |
| Suppliers | 440/4 | €108,698 | €276,176 | +€167,478 | +154.1% |
| Advances received on contracts in progress | 46 | €1,323 | - | -€1,323 | |
| Taxes, remuneration and social security | 45 | €65,559 | €18,000 | -€47,558 | -72.5% |
| Taxes | 450/3 | €65,559 | €17,031 | -€48,527 | -74.0% |
| Remuneration and social security | 454/9 | - | €969 | +€969 | |
| Other amounts payable | 47/48 | €98,747 | €58,747 | -€40,000 | -40.5% |
| Remuneration, social security and pensions | 62 | €238,747 | €298,388 | +€59,641 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,408 | €142,789 | +€7,381 | +5.5% |
| Other operating charges | 640/8 | €1,844 | €25,986 | +€24,142 | +1309.0% |
| Gross operating margin | 9900 | €636,304 | €627,680 | -€8,624 | -1.4% |
| Operating profit (loss) | 9901 | €260,305 | €160,517 | -€99,788 | -38.3% |
| Financial income | 75/76B | €467 | €1,915 | +€1,447 | +309.7% |
| Recurring financial income | 75 | €467 | €1,915 | +€1,447 | +309.7% |
| Financial charges | 65/66B | €87,100 | €59,975 | -€27,126 | -31.1% |
| Recurring financial charges | 65 | €86,580 | €59,975 | -€26,606 | -30.7% |
| Non-recurring financial charges | 66B | €520 | - | -€520 | |
| Profit (loss) for the period before taxes | 9903 | €173,672 | €102,457 | -€71,215 | -41.0% |
| Income taxes | 67/77 | €47,993 | €28,285 | -€19,709 | -41.1% |
| Profit (loss) for the period | 9904 | €125,679 | €74,172 | -€51,506 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,679 | €74,172 | -€51,506 | -41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.