NPOWER: 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.
NPOWER
Largest movements
- Cash +€97,840
up €97,840 (+280%), from €34,905 to €132,744
mainly Investment in fixed assets (net) (+€89,394) and Net result for the year (+€34,838)
- Financial fixed assets -€90,165
no longer reported in 2025 (was €90,165)
- Receivables within one year -€26,727
down €26,727 (-92.6%), from €28,862 to €2,135
of which Trade receivables: -€17,563
- Receivables after one year -€20,000
down €20,000 (-20.0%), from €100,000 to €80,000
- Tangible fixed assets -€11,469
down €11,469 (-5.6%), from €203,134 to €191,665
of which Land and buildings: -€8,026
- Debts after one year -€33,775
down €33,775 (-78.8%), from €42,870 to €9,095
- Current portion of long-term debt -€17,968
down €17,968 (-62.6%), from €28,689 to €10,721
- Gross operating margin -€23,891
down €23,891 (-21.8%), from €109,809 to €85,917
- Financial charges +€15,528
up €15,528 (+376%), from €4,130 to €19,658
- Taxes -€7,948
down €7,948 (-26.7%), from €29,734 to €21,786
- Depreciation -€1,792
down €1,792 (-12.8%), from €14,031 to €12,239
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 | €461,065 | €413,744 | -€47,321 | -10.3% |
| Fixed assets | 21/28 | €293,299 | €191,665 | -€101,634 | -34.7% |
| Tangible fixed assets | 22/27 | €203,134 | €191,665 | -€11,469 | -5.6% |
| Land and buildings | 22 | €186,595 | €178,570 | -€8,026 | -4.3% |
| Plant, machinery and equipment | 23 | €5,308 | €3,348 | -€1,960 | -36.9% |
| Furniture and vehicles | 24 | €11,230 | €9,747 | -€1,483 | -13.2% |
| Financial fixed assets | 28 | €90,165 | - | -€90,165 | |
| Current assets | 29/58 | €167,766 | €222,079 | +€54,313 | +32.4% |
| Amounts receivable after more than one year | 29 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Other amounts receivable | 291 | €100,000 | €80,000 | -€20,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €28,862 | €2,135 | -€26,727 | -92.6% |
| Trade receivables | 40 | €17,563 | - | -€17,563 | |
| Other amounts receivable | 41 | €11,298 | €2,135 | -€9,164 | -81.1% |
| Cash at bank and in hand | 54/58 | €34,905 | €132,744 | +€97,840 | +280% |
| Deferred charges and accrued income | 490/1 | €4,000 | €7,200 | +€3,200 | +80.0% |
| Total equity and liabilities | 10/49 | €461,065 | €413,744 | -€47,321 | -10.3% |
| Equity | 10/15 | €333,553 | €330,179 | -€3,375 | -1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €327,353 | €323,979 | -€3,375 | -1.0% |
| Non-distributable reserves | 130/1 | €7,100 | €7,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,100 | €7,100 | = | 0.0% |
| Distributable reserves | 133 | €320,253 | €316,879 | -€3,375 | -1.1% |
| Amounts payable | 17/49 | €127,512 | €83,565 | -€43,946 | -34.5% |
| Amounts payable after more than one year | 17 | €42,870 | €9,095 | -€33,775 | -78.8% |
| Financial debts | 170/4 | €42,870 | €9,095 | -€33,775 | -78.8% |
| Amounts payable within one year | 42/48 | €83,642 | €73,471 | -€10,171 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €28,689 | €10,721 | -€17,968 | -62.6% |
| Trade debts | 44 | €1,959 | €3,742 | +€1,783 | +91.0% |
| Suppliers | 440/4 | €1,959 | €3,742 | +€1,783 | +91.0% |
| Taxes, remuneration and social security | 45 | €49,994 | €53,708 | +€3,714 | +7.4% |
| Taxes | 450/3 | €49,994 | €53,708 | +€3,714 | +7.4% |
| Other amounts payable | 47/48 | €3,000 | €5,300 | +€2,300 | +76.7% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | €4,340 | €2,585 | -€1,755 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,031 | €12,239 | -€1,792 | -12.8% |
| Other operating charges | 640/8 | €2,000 | €1,999 | -€1 | -0.1% |
| Gross operating margin | 9900 | €109,809 | €85,917 | -€23,891 | -21.8% |
| Operating profit (loss) | 9901 | €93,777 | €71,679 | -€22,098 | -23.6% |
| Financial income | 75/76B | €4,000 | €4,603 | +€603 | +15.1% |
| Recurring financial income | 75 | €4,000 | €3,200 | -€800 | -20.0% |
| Non-recurring financial income | 76B | - | €1,403 | +€1,403 | |
| Financial charges | 65/66B | €4,130 | €19,658 | +€15,528 | +376% |
| Recurring financial charges | 65 | €4,130 | €19,658 | +€15,528 | +376% |
| Profit (loss) for the period before taxes | 9903 | €93,647 | €56,624 | -€37,023 | -39.5% |
| Income taxes | 67/77 | €29,734 | €21,786 | -€7,948 | -26.7% |
| Profit (loss) for the period | 9904 | €63,913 | €34,838 | -€29,075 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,913 | €34,838 | -€29,075 | -45.5% |
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 15 October 2026 via checked.be.