NPV Property: 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.
NPV Property
Largest movements
- Stocks and contracts +€80,944
up €80,944 (+8.6%), from €945,249 to €1.0m
of which Contracts in progress: +€86,000
- Cash -€55,344
down €55,344 (-96.1%), from €57,581 to €2,238
mainly Stocks and contracts (-€80,944) and Tax, wage and social debts (-€62,302)
- Tangible fixed assets -€38,359
down €38,359 (-97.8%), from €39,213 to €854
of which Furniture and vehicles: -€38,019
- Other debts +€72,500
up €72,500 (+181.3%), from €40,000 to €112,500
- Tax, wage and social debts -€62,302
down €62,302 (-99.6%), from €62,582 to €280
- Trade debts -€36,391
down €36,391 (-71.7%), from €50,780 to €14,389
- Debts after one year +€32,888
up €32,888 (+4.9%), from €677,131 to €710,019
- Profit (loss) carried forward -€28,847
down €28,847 (-13.5%), from €213,619 to €184,772
- Purchases and services +€73,953
new in 2025: €73,953
- Gross operating margin -€11,234
down €11,234 (-44.5%), from €25,261 to €14,028
- Depreciation -€10,169
down €10,169 (-96.8%), from €10,509 to €340
- Other operating charges +€6,417
up €6,417 (+243.5%), from €2,635 to €9,052
- Financial charges +€4,539
up €4,539 (+15.7%), from €28,937 to €33,477
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 | €1,055,242 | €1,035,271 | -€19,971 | -1.9% |
| Fixed assets | 21/28 | €39,213 | €854 | -€38,359 | -97.8% |
| Tangible fixed assets | 22/27 | €39,213 | €854 | -€38,359 | -97.8% |
| Plant, machinery and equipment | 23 | €1,194 | €854 | -€340 | -28.5% |
| Furniture and vehicles | 24 | €38,019 | - | -€38,019 | |
| Current assets | 29/58 | €1,016,029 | €1,034,417 | +€18,388 | +1.8% |
| Stocks and contracts in progress | 3 | €945,249 | €1,026,193 | +€80,944 | +8.6% |
| Stocks | 30/36 | €171,249 | €166,193 | -€5,056 | -3.0% |
| Contracts in progress | 37 | €774,000 | €860,000 | +€86,000 | +11.1% |
| Amounts receivable within one year | 40/41 | €11,021 | €4,944 | -€6,076 | -55.1% |
| Trade receivables | 40 | €10,410 | €4,944 | -€5,466 | -52.5% |
| Other amounts receivable | 41 | €611 | - | -€611 | |
| Cash at bank and in hand | 54/58 | €57,581 | €2,238 | -€55,344 | -96.1% |
| Deferred charges and accrued income | 490/1 | €2,178 | €1,042 | -€1,135 | -52.1% |
| Total equity and liabilities | 10/49 | €1,055,242 | €1,035,271 | -€19,971 | -1.9% |
| Equity | 10/15 | €223,619 | €194,772 | -€28,847 | -12.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €213,619 | €184,772 | -€28,847 | -13.5% |
| Amounts payable | 17/49 | €831,623 | €840,499 | +€8,877 | +1.1% |
| Amounts payable after more than one year | 17 | €677,131 | €710,019 | +€32,888 | +4.9% |
| Financial debts | 170/4 | €677,131 | €710,019 | +€32,888 | +4.9% |
| Amounts payable within one year | 42/48 | €154,360 | €130,480 | -€23,880 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,311 | +€3,311 | |
| Financial debts | 43 | €998 | - | -€998 | |
| Credit institutions | 430/8 | €998 | - | -€998 | |
| Trade debts | 44 | €50,780 | €14,389 | -€36,391 | -71.7% |
| Suppliers | 440/4 | €50,780 | €14,389 | -€36,391 | -71.7% |
| Taxes, remuneration and social security | 45 | €62,582 | €280 | -€62,302 | -99.6% |
| Taxes | 450/3 | €62,582 | €280 | -€62,302 | -99.6% |
| Other amounts payable | 47/48 | €40,000 | €112,500 | +€72,500 | +181.3% |
| Accrued charges and deferred income | 492/3 | €132 | - | -€132 | |
| Non-recurring operating income | 76A | - | €87,981 | +€87,981 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €73,953 | +€73,953 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,509 | €340 | -€10,169 | -96.8% |
| Other operating charges | 640/8 | €2,635 | €9,052 | +€6,417 | +243.5% |
| Non-recurring operating charges | 66A | - | €7 | +€7 | |
| Gross operating margin | 9900 | €25,261 | €14,028 | -€11,234 | -44.5% |
| Operating profit (loss) | 9901 | €12,117 | €4,629 | -€7,488 | -61.8% |
| Financial charges | 65/66B | €28,937 | €33,477 | +€4,539 | +15.7% |
| Recurring financial charges | 65 | €28,937 | €33,477 | +€4,539 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,820 | -€28,847 | -€12,027 | -71.5% |
| Profit (loss) for the period | 9904 | -€16,820 | -€28,847 | -€12,027 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,820 | -€28,847 | -€12,027 | -71.5% |
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 5 October 2026 via checked.be.