NOZIVERAGE: 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.
NOZIVERAGE
Largest movements
- Tangible fixed assets +€350,647
up €350,647 (+8.8%), from €4.0m to €4.3m
- Cash -€58,260
down €58,260 (-85.8%), from €67,875 to €9,615
mainly Investment in fixed assets (net) (-€517,076) and Net result for the year (-€147,806)
- Other debts +€566,017
up €566,017 (+22.2%), from €2.5m to €3.1m
- Profit (loss) carried forward -€147,806
down €147,806 (-17.0%), from -€871,734 to -€1.0m
- Debts after one year -€130,568
down €130,568 (-5.9%), from €2.2m to €2.1m
- Gross operating margin +€77,130
up €77,130 (+713%), from €10,817 to €87,947
- Depreciation +€66,203
up €66,203 (+66.1%), from €100,227 to €166,429
- Financial charges +€3,508
up €3,508 (+6.3%), from €56,029 to €59,537
- Other operating charges +€1,157
up €1,157 (+13.4%), from €8,629 to €9,786
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.
Derived cash bridge
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 | €4,040,310 | €4,331,943 | +€291,633 | +7.2% |
| Fixed assets | 21/28 | €3,969,336 | €4,319,983 | +€350,647 | +8.8% |
| Tangible fixed assets | 22/27 | €3,969,336 | €4,319,983 | +€350,647 | +8.8% |
| Land and buildings | 22 | €3,969,336 | €4,319,983 | +€350,647 | +8.8% |
| Current assets | 29/58 | €70,974 | €11,960 | -€59,014 | -83.1% |
| Cash at bank and in hand | 54/58 | €67,875 | €9,615 | -€58,260 | -85.8% |
| Deferred charges and accrued income | 490/1 | €3,099 | €2,345 | -€753 | -24.3% |
| Total equity and liabilities | 10/49 | €4,040,310 | €4,331,943 | +€291,633 | +7.2% |
| Equity | 10/15 | -€853,134 | -€1,000,939 | -€147,806 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€871,734 | -€1,019,539 | -€147,806 | -17.0% |
| Amounts payable | 17/49 | €4,893,443 | €5,332,882 | +€439,439 | +9.0% |
| Amounts payable after more than one year | 17 | €2,219,957 | €2,089,388 | -€130,568 | -5.9% |
| Financial debts | 170/4 | €2,219,957 | €2,089,388 | -€130,568 | -5.9% |
| Amounts payable within one year | 42/48 | €2,673,487 | €3,243,494 | +€570,007 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €127,525 | €130,568 | +€3,044 | +2.4% |
| Trade debts | 44 | - | €946 | +€946 | |
| Suppliers | 440/4 | - | €946 | +€946 | |
| Other amounts payable | 47/48 | €2,545,962 | €3,111,980 | +€566,017 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,227 | €166,429 | +€66,203 | +66.1% |
| Other operating charges | 640/8 | €8,629 | €9,786 | +€1,157 | +13.4% |
| Gross operating margin | 9900 | €10,817 | €87,947 | +€77,130 | +713% |
| Operating profit (loss) | 9901 | -€98,039 | -€88,269 | +€9,770 | +10.0% |
| Financial charges | 65/66B | €56,029 | €59,537 | +€3,508 | +6.3% |
| Recurring financial charges | 65 | €56,029 | €59,537 | +€3,508 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€154,068 | -€147,806 | +€6,262 | +4.1% |
| Income taxes | 67/77 | -€11 | - | +€11 | |
| Profit (loss) for the period | 9904 | -€154,057 | -€147,806 | +€6,251 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€154,057 | -€147,806 | +€6,251 | +4.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.