NOUWEN: what changed
What changed
NOUWEN
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
€20,013
2024 · €31,839-€11,826
Equity
€362,862
2024 · €342,849+€20,013
Cash
€297,435
2024 · €335,362-€37,927
Balance sheet total
€377,386
2024 · €380,112-€2,726
Largest movements
Assets
- Cash -€37,927
down €37,927 (-11.3%), from €335,362 to €297,435
mainly Investment in fixed assets (net) (-€29,494) and Other debts (-€18,556)
- Tangible fixed assets +€25,569
up €25,569 (+493%), from €5,191 to €30,759
of which Furniture and vehicles: +€25,768
- Receivables within one year +€10,882
up €10,882 (+72.0%), from €15,122 to €26,005
of which Other amounts receivable: +€14,091
Equity and liabilities
- Reserves +€20,013
up €20,013 (+7.1%), from €282,911 to €302,924
of which Distributable reserves: +€20,013
- Other debts -€18,556
down €18,556 (-88.7%), from €20,916 to €2,361
Income statement
- Gross operating margin -€13,820
down €13,820 (-19.8%), from €69,704 to €55,884
- Taxes -€5,302
down €5,302 (-34.6%), from €15,304 to €10,002
- Staff costs +€2,405
up €2,405 (+12.1%), from €19,904 to €22,308
- Depreciation +€1,126
up €1,126 (+40.2%), from €2,800 to €3,925
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€31,839
Gross operating margin
-€13,820
Staff costs
-€2,405
Depreciation
-€1,126
Other operating charges
-€257
Financial income
-€172
Financial charges
+€652
Taxes
+€5,302
Result 2025
€20,013
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€8,433
Investment
-€29,494
Financing
€0
Cash 2024
€335,362
From operations (derived)
-€8,433
Net result for the year
+€20,013
Depreciation
+€3,925
Stocks and contracts
+€1,558
Receivables within one year
-€10,882
Deferred charges and accrued income
-€308
Trade debts
-€1,661
Tax, wage and social debts
-€2,398
Other debts
-€18,556
Accrued charges and deferred income
-€125
Investment (derived)
-€29,494
Investment in fixed assets (net)
-€29,494
Cash 2025
€297,435
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,112 | €377,386 | -€2,726 | -0.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,191 | €30,759 | +€25,569 | +493% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €5,191 | €30,759 | +€25,569 | +493% |
| Plant, machinery and equipment | 23 | €199 | €0 | -€199 | -100% |
| Furniture and vehicles | 24 | €4,991 | €30,759 | +€25,768 | +516% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €374,921 | €346,626 | -€28,295 | -7.5% |
| Stocks and contracts in progress | 3 | €20,595 | €19,037 | -€1,558 | -7.6% |
| Stocks | 30/36 | €20,595 | €19,037 | -€1,558 | -7.6% |
| Amounts receivable within one year | 40/41 | €15,122 | €26,005 | +€10,882 | +72.0% |
| Trade receivables | 40 | €8,587 | €5,379 | -€3,209 | -37.4% |
| Other amounts receivable | 41 | €6,535 | €20,626 | +€14,091 | +216% |
| Cash at bank and in hand | 54/58 | €335,362 | €297,435 | -€37,927 | -11.3% |
| Deferred charges and accrued income | 490/1 | €3,842 | €4,150 | +€308 | +8.0% |
| Total equity and liabilities | 10/49 | €380,112 | €377,386 | -€2,726 | -0.7% |
| Equity | 10/15 | €342,849 | €362,862 | +€20,013 | +5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €282,911 | €302,924 | +€20,013 | +7.1% |
| Non-distributable reserves | 130/1 | €14,736 | €14,736 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,736 | €14,736 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,782 | €21,782 | = | 0.0% |
| Distributable reserves | 133 | €246,392 | €266,405 | +€20,013 | +8.1% |
| Profit (loss) carried forward | 14 | €53,738 | €53,738 | = | 0.0% |
| Amounts payable | 17/49 | €37,263 | €14,523 | -€22,739 | -61.0% |
| Amounts payable within one year | 42/48 | €37,138 | €14,523 | -€22,614 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €4,247 | €2,587 | -€1,661 | -39.1% |
| Suppliers | 440/4 | €4,247 | €2,587 | -€1,661 | -39.1% |
| Taxes, remuneration and social security | 45 | €6,974 | €4,576 | -€2,398 | -34.4% |
| Taxes | 450/3 | €2,026 | - | -€2,026 | |
| Remuneration and social security | 454/9 | €4,948 | €4,576 | -€372 | -7.5% |
| Other amounts payable | 47/48 | €20,916 | €2,361 | -€18,556 | -88.7% |
| Accrued charges and deferred income | 492/3 | €125 | - | -€125 | |
| Remuneration, social security and pensions | 62 | €19,904 | €22,308 | +€2,405 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,800 | €3,925 | +€1,126 | +40.2% |
| Other operating charges | 640/8 | €1,070 | €1,327 | +€257 | +24.1% |
| Gross operating margin | 9900 | €69,704 | €55,884 | -€13,820 | -19.8% |
| Operating profit (loss) | 9901 | €45,931 | €28,323 | -€17,608 | -38.3% |
| Financial income | 75/76B | €2,656 | €2,484 | -€172 | -6.5% |
| Recurring financial income | 75 | €2,656 | €2,484 | -€172 | -6.5% |
| Financial charges | 65/66B | €1,443 | €791 | -€652 | -45.2% |
| Recurring financial charges | 65 | €1,443 | €791 | -€652 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €47,143 | €30,016 | -€17,128 | -36.3% |
| Income taxes | 67/77 | €15,304 | €10,002 | -€5,302 | -34.6% |
| Profit (loss) for the period | 9904 | €31,839 | €20,013 | -€11,826 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,839 | €20,013 | -€11,826 | -37.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.