NOWW: 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.
What changed
NOWW
NACE 46.643, Wholesale of electrical equipment, including installation materials
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€283,458
2024 · €185,548+€97,910
Equity
€5.6m
2024 · €5.6m+€3,458
Cash
€194,750
2024 · €164,065+€30,685
Balance sheet total
€6.1m
2024 · €6.1m-€73,971
Largest movements
Assets
- Stocks and contracts -€1.3m
down €1.3m (-24.7%), from €5.4m to €4.1m
- Current investments +€1.2m
new in 2025: €1.2m
Equity and liabilities
- Trade debts -€169,470
down €169,470 (-51.4%), from €329,861 to €160,390
- Other debts +€100,000
up €100,000 (+55.6%), from €180,000 to €280,000
Income statement
- Gross operating margin +€102,292
up €102,292 (+27.3%), from €375,338 to €477,630
- Other operating charges +€35,495
up €35,495 (+184.3%), from €19,262 to €54,757
- Staff costs -€19,387
down €19,387 (-13.8%), from €140,477 to €121,090
- Financial income +€9,400
up €9,400 (+93.6%), from €10,041 to €19,441
of which Financial income: +€11,413
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.
Result 2024
€185,548
Gross operating margin
+€102,292
Staff costs
+€19,387
Depreciation
-€2,429
Write-downs
+€1,040
Other operating charges
-€35,495
Financial income
+€9,400
Financial charges
+€1,924
Taxes
+€1,791
Result 2025
€283,458
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.
From operations
+€1.5m
Investment
-€1.2m
Financing
-€290,701
Cash 2024
€164,065
From operations (derived)
+€1.5m
Net result for the year
+€283,458
Depreciation
+€25,991
Stocks and contracts
+€1.3m
Receivables within one year
-€50,267
Deferred charges and accrued income
-€2,884
Trade debts
-€169,470
Tax, wage and social debts
+€11,141
Other debts
+€100,000
Accrued charges and deferred income
-€8,398
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€12,353
Current investments
-€1.2m
Financing
-€290,701
Debts after one year
-€11,115
Current portion of long-term debt
+€414
Contributions, distributions and other
-€280,000
Cash 2025
€194,750
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,141,645 | €6,067,674 | -€73,971 | -1.2% |
| Fixed assets | 21/28 | €127,288 | €113,650 | -€13,638 | -10.7% |
| Intangible fixed assets | 21 | €64,521 | €67,146 | +€2,625 | +4.1% |
| Tangible fixed assets | 22/27 | €62,768 | €46,504 | -€16,264 | -25.9% |
| Land and buildings | 22 | €7,155 | €6,273 | -€882 | -12.3% |
| Plant, machinery and equipment | 23 | €3,490 | €2,504 | -€986 | -28.2% |
| Furniture and vehicles | 24 | €52,123 | €37,726 | -€14,396 | -27.6% |
| Current assets | 29/58 | €6,014,357 | €5,954,024 | -€60,332 | -1.0% |
| Stocks and contracts in progress | 3 | €5,435,421 | €4,091,253 | -€1.3m | -24.7% |
| Stocks | 30/36 | €5,435,421 | €4,091,253 | -€1.3m | -24.7% |
| Amounts receivable within one year | 40/41 | €351,894 | €402,161 | +€50,267 | +14.3% |
| Trade receivables | 40 | €180,552 | €305,396 | +€124,844 | +69.1% |
| Other amounts receivable | 41 | €171,342 | €96,765 | -€74,577 | -43.5% |
| Current investments | 50/53 | - | €1,200,000 | +€1.2m | |
| Cash at bank and in hand | 54/58 | €164,065 | €194,750 | +€30,685 | +18.7% |
| Deferred charges and accrued income | 490/1 | €62,977 | €65,861 | +€2,884 | +4.6% |
| Total equity and liabilities | 10/49 | €6,141,645 | €6,067,674 | -€73,971 | -1.2% |
| Equity | 10/15 | €5,565,116 | €5,568,573 | +€3,458 | +0.1% |
| Contributions | 10/11 | €5,100,000 | €5,100,000 | = | 0.0% |
| Reserves | 13 | €465,116 | €468,573 | +€3,458 | +0.7% |
| Tax-exempt reserves | 132 | €133,962 | €60,287 | -€73,675 | -55.0% |
| Distributable reserves | 133 | €331,153 | €408,286 | +€77,133 | +23.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €576,529 | €499,101 | -€77,428 | -13.4% |
| Amounts payable after more than one year | 17 | €20,706 | €9,591 | -€11,115 | -53.7% |
| Financial debts | 170/4 | €20,706 | €9,591 | -€11,115 | -53.7% |
| Amounts payable within one year | 42/48 | €546,538 | €488,622 | -€57,915 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €10,701 | €11,115 | +€414 | +3.9% |
| Trade debts | 44 | €329,861 | €160,390 | -€169,470 | -51.4% |
| Suppliers | 440/4 | €329,861 | €160,390 | -€169,470 | -51.4% |
| Taxes, remuneration and social security | 45 | €25,975 | €37,117 | +€11,141 | +42.9% |
| Taxes | 450/3 | €8,673 | €8,916 | +€243 | +2.8% |
| Remuneration and social security | 454/9 | €17,302 | €28,201 | +€10,898 | +63.0% |
| Other amounts payable | 47/48 | €180,000 | €280,000 | +€100,000 | +55.6% |
| Accrued charges and deferred income | 492/3 | €9,285 | €887 | -€8,398 | -90.4% |
| Non-recurring operating income | 76A | €1,816 | €0 | -€1,816 | -100.0% |
| Remuneration, social security and pensions | 62 | €140,477 | €121,090 | -€19,387 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,562 | €25,991 | +€2,429 | +10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,044 | €1,004 | -€1,040 | -50.9% |
| Other operating charges | 640/8 | €19,262 | €54,757 | +€35,495 | +184.3% |
| Gross operating margin | 9900 | €375,338 | €477,630 | +€102,292 | +27.3% |
| Operating profit (loss) | 9901 | €189,992 | €274,788 | +€84,795 | +44.6% |
| Financial income | 75/76B | €10,041 | €19,441 | +€9,400 | +93.6% |
| Recurring financial income | 75 | €8,027 | €19,441 | +€11,413 | +142.2% |
| Non-recurring financial income | 76B | €2,013 | €0 | -€2,013 | -100.0% |
| Financial charges | 65/66B | €10,242 | €8,319 | -€1,924 | -18.8% |
| Recurring financial charges | 65 | €10,242 | €8,319 | -€1,924 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €189,790 | €285,910 | +€96,119 | +50.6% |
| Income taxes | 67/77 | €4,243 | €2,452 | -€1,791 | -42.2% |
| Profit (loss) for the period | 9904 | €185,548 | €283,458 | +€97,910 | +52.8% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €185,548 | €283,458 | +€97,910 | +52.8% |
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 1 October 2026 via checked.be.