Northways: 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.
Northways
Largest movements
- Receivables within one year +€90,318
up €90,318 (+149.4%), from €60,465 to €150,782
of which Other amounts receivable: +€90,318
- Financial fixed assets +€75,612
up €75,612 (+60489.4%), from €125 to €75,737
- Tangible fixed assets -€28,141
down €28,141 (-66.7%), from €42,210 to €14,070
- Cash -€17,496
down €17,496 (-46.8%), from €37,373 to €19,876
mainly Receivables within one year (-€90,318) and Investment in fixed assets (net) (-€55,178)
- Profit (loss) carried forward +€79,676
up €79,676 (+136.3%), from €58,446 to €138,123
- Debts after one year +€46,232
up €46,232 (+265.6%), from €17,407 to €63,639
- Current portion of long-term debt -€7,429
down €7,429 (-33.6%), from €22,115 to €14,686
- Trade debts +€5,419
up €5,419 (+161.9%), from €3,348 to €8,767
- Gross operating margin +€36,810
up €36,810 (+42.4%), from €86,870 to €123,680
- Other operating charges +€14,850
up €14,850 (+1418.5%), from €1,047 to €15,897
- Depreciation -€14,256
down €14,256 (-64.9%), from €21,963 to €7,707
- Taxes +€9,122
up €9,122 (+66.7%), from €13,670 to €22,792
- Financial income +€5,484
up €5,484 (+763.8%), from €718 to €6,202
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 | €140,357 | €260,776 | +€120,419 | +85.8% |
| Fixed assets | 21/28 | €42,335 | €89,806 | +€47,471 | +112.1% |
| Tangible fixed assets | 22/27 | €42,210 | €14,070 | -€28,141 | -66.7% |
| Furniture and vehicles | 24 | €42,210 | €14,070 | -€28,141 | -66.7% |
| Financial fixed assets | 28 | €125 | €75,737 | +€75,612 | +60489.4% |
| Current assets | 29/58 | €98,022 | €170,970 | +€72,948 | +74.4% |
| Amounts receivable within one year | 40/41 | €60,465 | €150,782 | +€90,318 | +149.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €60,465 | €150,782 | +€90,318 | +149.4% |
| Cash at bank and in hand | 54/58 | €37,373 | €19,876 | -€17,496 | -46.8% |
| Deferred charges and accrued income | 490/1 | €184 | €311 | +€127 | +68.9% |
| Total equity and liabilities | 10/49 | €140,357 | €260,776 | +€120,419 | +85.8% |
| Equity | 10/15 | €61,446 | €141,123 | +€79,676 | +129.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,446 | €138,123 | +€79,676 | +136.3% |
| Amounts payable | 17/49 | €78,911 | €119,654 | +€40,743 | +51.6% |
| Amounts payable after more than one year | 17 | €17,407 | €63,639 | +€46,232 | +265.6% |
| Financial debts | 170/4 | €17,407 | €63,639 | +€46,232 | +265.6% |
| Amounts payable within one year | 42/48 | €61,503 | €56,015 | -€5,489 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €22,115 | €14,686 | -€7,429 | -33.6% |
| Financial debts | 43 | €2,281 | €204 | -€2,077 | -91.1% |
| Other loans | 439 | €2,281 | €204 | -€2,077 | -91.1% |
| Trade debts | 44 | €3,348 | €8,767 | +€5,419 | +161.9% |
| Suppliers | 440/4 | €3,348 | €8,767 | +€5,419 | +161.9% |
| Taxes, remuneration and social security | 45 | €32,042 | €32,358 | +€316 | +1.0% |
| Taxes | 450/3 | €32,042 | €32,358 | +€316 | +1.0% |
| Other amounts payable | 47/48 | €1,718 | €0 | -€1,718 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,963 | €7,707 | -€14,256 | -64.9% |
| Other operating charges | 640/8 | €1,047 | €15,897 | +€14,850 | +1418.5% |
| Gross operating margin | 9900 | €86,870 | €123,680 | +€36,810 | +42.4% |
| Operating profit (loss) | 9901 | €63,861 | €100,076 | +€36,215 | +56.7% |
| Financial income | 75/76B | €718 | €6,202 | +€5,484 | +763.8% |
| Recurring financial income | 75 | €718 | €6,202 | +€5,484 | +763.8% |
| Financial charges | 65/66B | €3,046 | €3,809 | +€763 | +25.1% |
| Recurring financial charges | 65 | €3,046 | €3,809 | +€763 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €61,533 | €102,469 | +€40,936 | +66.5% |
| Income taxes | 67/77 | €13,670 | €22,792 | +€9,122 | +66.7% |
| Profit (loss) for the period | 9904 | €47,863 | €79,676 | +€31,813 | +66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,863 | €79,676 | +€31,813 | +66.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.