NOWE 19: 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.
NOWE 19
Largest movements
- Tangible fixed assets -€30,184
down €30,184 (-7.3%), from €411,182 to €380,998
- Other debts -€42,976
down €42,976 (-25.8%), from €166,767 to €123,791
- Reserves +€36,650
up €36,650 (+32.5%), from €112,700 to €149,350
of which Non-distributable reserves: +€36,650
- Tax, wage and social debts -€19,119
down €19,119 (-86.4%), from €22,130 to €3,011
- Financial charges -€5,677
down €5,677 (-35.9%), from €15,794 to €10,116
- Gross operating margin -€3,455
down €3,455 (-3.4%), from €101,556 to €98,101
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 | €420,387 | €395,390 | -€24,997 | -5.9% |
| Fixed assets | 21/28 | €411,182 | €380,998 | -€30,184 | -7.3% |
| Tangible fixed assets | 22/27 | €411,182 | €380,998 | -€30,184 | -7.3% |
| Land and buildings | 22 | €411,182 | €380,998 | -€30,184 | -7.3% |
| Current assets | 29/58 | €9,204 | €14,392 | +€5,187 | +56.4% |
| Amounts receivable within one year | 40/41 | - | €2,881 | +€2,881 | |
| Other amounts receivable | 41 | - | €2,881 | +€2,881 | |
| Cash at bank and in hand | 54/58 | €9,204 | €10,580 | +€1,375 | +14.9% |
| Deferred charges and accrued income | 490/1 | - | €932 | +€932 | |
| Total equity and liabilities | 10/49 | €420,387 | €395,390 | -€24,997 | -5.9% |
| Equity | 10/15 | €229,096 | €265,794 | +€36,698 | +16.0% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €112,700 | €149,350 | +€36,650 | +32.5% |
| Non-distributable reserves | 130/1 | €106,700 | €143,350 | +€36,650 | +34.3% |
| Other | 1319 | €106,700 | €143,350 | +€36,650 | +34.3% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,396 | €56,444 | +€48 | +0.1% |
| Amounts payable | 17/49 | €191,290 | €129,596 | -€61,695 | -32.3% |
| Amounts payable within one year | 42/48 | €189,380 | €127,686 | -€61,695 | -32.6% |
| Trade debts | 44 | €484 | €884 | +€400 | +82.6% |
| Suppliers | 440/4 | €484 | €884 | +€400 | +82.6% |
| Taxes, remuneration and social security | 45 | €22,130 | €3,011 | -€19,119 | -86.4% |
| Taxes | 450/3 | €22,130 | €3,011 | -€19,119 | -86.4% |
| Other amounts payable | 47/48 | €166,767 | €123,791 | -€42,976 | -25.8% |
| Accrued charges and deferred income | 492/3 | €1,910 | €1,910 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,184 | €30,184 | = | 0.0% |
| Other operating charges | 640/8 | €3,862 | €3,983 | +€121 | +3.1% |
| Gross operating margin | 9900 | €101,556 | €98,101 | -€3,455 | -3.4% |
| Operating profit (loss) | 9901 | €67,510 | €63,933 | -€3,577 | -5.3% |
| Financial charges | 65/66B | €15,794 | €10,116 | -€5,677 | -35.9% |
| Recurring financial charges | 65 | €15,794 | €10,116 | -€5,677 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €51,716 | €53,817 | +€2,101 | +4.1% |
| Income taxes | 67/77 | €17,493 | €17,119 | -€373 | -2.1% |
| Profit (loss) for the period | 9904 | €34,224 | €36,698 | +€2,474 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,224 | €36,698 | +€2,474 | +7.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.