NOWAAC: 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.
NOWAAC
Largest movements
- Receivables within one year -€443,095
down €443,095 (-67.0%), from €661,725 to €218,630
of which Trade receivables: -€389,216
- Cash +€267,945
up €267,945 (+158.3%), from €169,299 to €437,245
mainly Receivables within one year (+€443,095) and Net result for the year (+€99,886)
- Debts after one year -€262,964
down €262,964 (-15.4%), from €1.7m to €1.4m
- Reserves +€99,886
up €99,886 (+8.0%), from €1.3m to €1.4m
of which Distributable reserves: +€99,886
- Financial income +€8,359
up €8,359 (+359.4%), from €2,326 to €10,684
- Gross operating margin +€5,827
up €5,827 (+4.3%), from €135,221 to €141,047
- Financial charges +€2,498
up €2,498, from -€740 to €1,758
- Depreciation +€1,572
up €1,572 (+85.3%), from €1,842 to €3,414
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 | €3,173,482 | €3,009,051 | -€164,431 | -5.2% |
| Fixed assets | 21/28 | €2,140,940 | €2,151,625 | +€10,685 | +0.5% |
| Tangible fixed assets | 22/27 | €651,776 | €662,462 | +€10,685 | +1.6% |
| Furniture and vehicles | 24 | €4,454 | €3,140 | -€1,315 | -29.5% |
| Other tangible fixed assets | 26 | €647,322 | €659,322 | +€12,000 | +1.9% |
| Financial fixed assets | 28 | €1,489,163 | €1,489,163 | = | 0.0% |
| Current assets | 29/58 | €1,032,542 | €857,426 | -€175,116 | -17.0% |
| Amounts receivable within one year | 40/41 | €661,725 | €218,630 | -€443,095 | -67.0% |
| Trade receivables | 40 | €602,595 | €213,379 | -€389,216 | -64.6% |
| Other amounts receivable | 41 | €59,130 | €5,251 | -€53,879 | -91.1% |
| Current investments | 50/53 | €200,874 | €200,874 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €169,299 | €437,245 | +€267,945 | +158.3% |
| Deferred charges and accrued income | 490/1 | €644 | €677 | +€33 | +5.2% |
| Total equity and liabilities | 10/49 | €3,173,482 | €3,009,051 | -€164,431 | -5.2% |
| Equity | 10/15 | €1,379,580 | €1,479,467 | +€99,886 | +7.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,253,126 | €1,353,012 | +€99,886 | +8.0% |
| Non-distributable reserves | 130/1 | €46,860 | €46,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €46,860 | €46,860 | = | 0.0% |
| Distributable reserves | 133 | €1,206,266 | €1,306,152 | +€99,886 | +8.3% |
| Profit (loss) carried forward | 14 | €114,054 | €114,054 | = | 0.0% |
| Amounts payable | 17/49 | €1,793,902 | €1,529,584 | -€264,317 | -14.7% |
| Amounts payable after more than one year | 17 | €1,710,075 | €1,447,110 | -€262,964 | -15.4% |
| Financial debts | 170/4 | €1,710,075 | €1,447,110 | -€262,964 | -15.4% |
| Amounts payable within one year | 42/48 | €83,827 | €82,474 | -€1,353 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €81,354 | €81,368 | +€14 | 0.0% |
| Trade debts | 44 | €2,473 | €143 | -€2,330 | -94.2% |
| Suppliers | 440/4 | €2,473 | €143 | -€2,330 | -94.2% |
| Taxes, remuneration and social security | 45 | €0 | €963 | +€963 | |
| Taxes | 450/3 | €0 | €963 | +€963 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,842 | €3,414 | +€1,572 | +85.3% |
| Other operating charges | 640/8 | €2,508 | €2,524 | +€16 | +0.6% |
| Gross operating margin | 9900 | €135,221 | €141,047 | +€5,827 | +4.3% |
| Operating profit (loss) | 9901 | €130,871 | €135,110 | +€4,238 | +3.2% |
| Financial income | 75/76B | €2,326 | €10,684 | +€8,359 | +359.4% |
| Recurring financial income | 75 | €2,326 | €10,684 | +€8,359 | +359.4% |
| Financial charges | 65/66B | -€740 | €1,758 | +€2,498 | |
| Recurring financial charges | 65 | -€740 | €1,758 | +€2,498 | |
| Profit (loss) for the period before taxes | 9903 | €133,937 | €144,036 | +€10,099 | +7.5% |
| Income taxes | 67/77 | €43,812 | €44,150 | +€337 | +0.8% |
| Profit (loss) for the period | 9904 | €90,124 | €99,886 | +€9,762 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €90,124 | €99,886 | +€9,762 | +10.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.