NOWO: 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.
NOWO
Largest movements
- Receivables within one year +€35,989
up €35,989 (+66.6%), from €54,020 to €90,008
of which Other amounts receivable: +€33,000
- Cash +€17,319
up €17,319 (+15.4%), from €112,446 to €129,766
mainly Net result for the year (+€39,027) and Tax, wage and social debts (+€20,807)
- Profit (loss) carried forward +€39,027
up €39,027 (+33.7%), from €115,746 to €154,774
- Tax, wage and social debts +€20,807
up €20,807 (+51.9%), from €40,059 to €60,865
of which Taxes: +€18,976
- Trade debts -€8,552
down €8,552 (-47.2%), from €18,132 to €9,580
of which Bills of exchange payable: -€16,194
- Turnover -€148,280
down €148,280 (-39.9%), from €372,058 to €223,778
- Gross operating margin -€93,110
down €93,110 (-63.5%), from €146,610 to €53,501
- Purchases and services -€36,717
down €36,717 (-16.1%), from €228,565 to €191,848
- Taxes -€22,915
down €22,915 (-68.4%), from €33,513 to €10,597
- Financial income -€8,799
no longer reported in 2025 (was €8,799)
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 | €180,827 | €232,260 | +€51,433 | +28.4% |
| Fixed assets | 21/28 | €13,986 | €11,843 | -€2,143 | -15.3% |
| Tangible fixed assets | 22/27 | €13,714 | €11,571 | -€2,143 | -15.6% |
| Furniture and vehicles | 24 | €13,714 | €11,571 | -€2,143 | -15.6% |
| Financial fixed assets | 28 | €272 | €272 | = | 0.0% |
| Current assets | 29/58 | €166,841 | €220,417 | +€53,576 | +32.1% |
| Amounts receivable within one year | 40/41 | €54,020 | €90,008 | +€35,989 | +66.6% |
| Trade receivables | 40 | €29,020 | €32,008 | +€2,989 | +10.3% |
| Other amounts receivable | 41 | €25,000 | €58,000 | +€33,000 | +132.0% |
| Cash at bank and in hand | 54/58 | €112,446 | €129,766 | +€17,319 | +15.4% |
| Deferred charges and accrued income | 490/1 | €375 | €643 | +€268 | +71.4% |
| Total equity and liabilities | 10/49 | €180,827 | €232,260 | +€51,433 | +28.4% |
| Equity | 10/15 | €120,746 | €159,774 | +€39,027 | +32.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,746 | €154,774 | +€39,027 | +33.7% |
| Amounts payable | 17/49 | €60,081 | €72,487 | +€12,406 | +20.6% |
| Amounts payable within one year | 42/48 | €60,081 | €72,487 | +€12,406 | +20.6% |
| Financial debts | 43 | - | €167 | +€167 | |
| Credit institutions | 430/8 | - | €167 | +€167 | |
| Trade debts | 44 | €18,132 | €9,580 | -€8,552 | -47.2% |
| Suppliers | 440/4 | €1,938 | €9,580 | +€7,642 | +394.3% |
| Bills of exchange payable | 441 | €16,194 | - | -€16,194 | |
| Taxes, remuneration and social security | 45 | €40,059 | €60,865 | +€20,807 | +51.9% |
| Taxes | 450/3 | €40,059 | €59,034 | +€18,976 | +47.4% |
| Remuneration and social security | 454/9 | - | €1,831 | +€1,831 | |
| Other amounts payable | 47/48 | €1,890 | €1,874 | -€16 | -0.8% |
| Turnover | 70 | €372,058 | €223,778 | -€148,280 | -39.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €228,565 | €191,848 | -€36,717 | -16.1% |
| Remuneration, social security and pensions | 62 | €1,029 | €697 | -€333 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,716 | €2,143 | +€427 | +24.9% |
| Other operating charges | 640/8 | €2,997 | €826 | -€2,171 | -72.4% |
| Gross operating margin | 9900 | €146,610 | €53,501 | -€93,110 | -63.5% |
| Operating profit (loss) | 9901 | €140,868 | €49,835 | -€91,033 | -64.6% |
| Financial income | 75/76B | €8,799 | - | -€8,799 | |
| Recurring financial income | 75 | €8,799 | - | -€8,799 | |
| Financial charges | 65/66B | €408 | €211 | -€197 | -48.3% |
| Recurring financial charges | 65 | €408 | €211 | -€197 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €149,259 | €49,625 | -€99,634 | -66.8% |
| Income taxes | 67/77 | €33,513 | €10,597 | -€22,915 | -68.4% |
| Profit (loss) for the period | 9904 | €115,746 | €39,027 | -€76,719 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €115,746 | €39,027 | -€76,719 | -66.3% |
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 3 October 2026 via checked.be.