NPV&CO: 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.
NPV&CO
Largest movements
- Stocks and contracts -€7,323
down €7,323 (-4.2%), from €175,733 to €168,410
- Tangible fixed assets -€3,194
down €3,194 (-86.9%), from €3,674 to €481
- Profit (loss) carried forward -€12,729
down €12,729 (-18.5%), from -€68,721 to -€81,450
- Other debts +€2,970
up €2,970 (+1.0%), from €304,756 to €307,726
- Gross operating margin -€4,243
down €4,243 (-102.2%), from -€4,152 to -€8,396
- Financial charges -€953
down €953 (-56.9%), from €1,675 to €722
- Depreciation -€318
down €318 (-9.1%), from €3,511 to €3,194
- Other operating charges +€129
up €129 (+43.1%), from €299 to €428
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 | €247,486 | €236,451 | -€11,035 | -4.5% |
| Fixed assets | 21/28 | €3,704 | €511 | -€3,194 | -86.2% |
| Tangible fixed assets | 22/27 | €3,674 | €481 | -€3,194 | -86.9% |
| Furniture and vehicles | 24 | €3,674 | €481 | -€3,194 | -86.9% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €243,781 | €235,940 | -€7,841 | -3.2% |
| Stocks and contracts in progress | 3 | €175,733 | €168,410 | -€7,323 | -4.2% |
| Stocks | 30/36 | €175,733 | €168,410 | -€7,323 | -4.2% |
| Amounts receivable within one year | 40/41 | €65,490 | €66,450 | +€960 | +1.5% |
| Trade receivables | 40 | €1,240 | €1,991 | +€751 | +60.5% |
| Other amounts receivable | 41 | €64,250 | €64,459 | +€209 | +0.3% |
| Cash at bank and in hand | 54/58 | €1,767 | €248 | -€1,519 | -86.0% |
| Deferred charges and accrued income | 490/1 | €791 | €832 | +€41 | +5.1% |
| Total equity and liabilities | 10/49 | €247,486 | €236,451 | -€11,035 | -4.5% |
| Equity | 10/15 | -€62,521 | -€75,250 | -€12,729 | -20.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,721 | -€81,450 | -€12,729 | -18.5% |
| Amounts payable | 17/49 | €310,006 | €311,700 | +€1,694 | +0.5% |
| Amounts payable within one year | 42/48 | €309,226 | €311,441 | +€2,215 | +0.7% |
| Trade debts | 44 | €4,470 | €3,715 | -€755 | -16.9% |
| Suppliers | 440/4 | €4,470 | €3,715 | -€755 | -16.9% |
| Other amounts payable | 47/48 | €304,756 | €307,726 | +€2,970 | +1.0% |
| Accrued charges and deferred income | 492/3 | €780 | €259 | -€521 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,511 | €3,194 | -€318 | -9.1% |
| Other operating charges | 640/8 | €299 | €428 | +€129 | +43.1% |
| Non-recurring operating charges | 66A | €6,451 | - | -€6,451 | |
| Gross operating margin | 9900 | -€4,152 | -€8,396 | -€4,243 | -102.2% |
| Operating profit (loss) | 9901 | -€14,414 | -€12,018 | +€2,396 | +16.6% |
| Financial income | 75/76B | €34 | €0 | -€34 | -99.9% |
| Recurring financial income | 75 | €34 | €0 | -€34 | -99.9% |
| Financial charges | 65/66B | €1,675 | €722 | -€953 | -56.9% |
| Recurring financial charges | 65 | €1,675 | €722 | -€953 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,054 | -€12,739 | +€3,315 | +20.7% |
| Income taxes | 67/77 | €10 | -€10 | -€21 | |
| Profit (loss) for the period | 9904 | -€16,065 | -€12,729 | +€3,336 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,065 | -€12,729 | +€3,336 | +20.8% |
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 11 October 2026 via checked.be.