NPW Invest: 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.
NPW Invest
Largest movements
- Receivables within one year +€72,409
up €72,409 (+1,683%), from €4,303 to €76,711
- Tangible fixed assets -€41,183
down €41,183 (-28.8%), from €143,005 to €101,822
of which Plant, machinery and equipment: -€39,680
- Cash -€5,681
down €5,681 (-49.8%), from €11,416 to €5,735
mainly Net result for the year (-€134,007) and Receivables within one year (-€72,409)
- Profit (loss) carried forward -€134,007
down €134,007 (-56.4%), from -€237,655 to -€371,662
- Other debts +€124,172
up €124,172 (+49.2%), from €252,423 to €376,594
- Advances received +€85,888
up €85,888 (+7,469%), from €1,150 to €87,038
- Trade debts -€36,319
down €36,319 (-90.7%), from €40,029 to €3,710
- Debts after one year -€13,710
down €13,710 (-19.2%), from €71,482 to €57,772
- Staff costs -€202,356
down €202,356 (-96.3%), from €210,204 to €7,848
- Gross operating margin -€122,220
down €122,220, from €50,471 to -€71,750
- Depreciation -€20,781
down €20,781 (-33.5%), from €61,964 to €41,183
- Financial charges -€5,731
down €5,731 (-52.3%), from €10,966 to €5,235
- Other operating charges +€2,503
up €2,503 (+44.4%), from €5,642 to €8,146
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 | €159,511 | €185,131 | +€25,620 | +16.1% |
| Fixed assets | 21/28 | €143,005 | €101,822 | -€41,183 | -28.8% |
| Tangible fixed assets | 22/27 | €143,005 | €101,822 | -€41,183 | -28.8% |
| Land and buildings | 22 | €1,489 | €1,069 | -€421 | -28.3% |
| Plant, machinery and equipment | 23 | €137,199 | €97,520 | -€39,680 | -28.9% |
| Other tangible fixed assets | 26 | €4,316 | €3,234 | -€1,082 | -25.1% |
| Current assets | 29/58 | €16,506 | €83,308 | +€66,802 | +405% |
| Amounts receivable within one year | 40/41 | €4,303 | €76,711 | +€72,409 | +1,683% |
| Trade receivables | 40 | €4,303 | €76,711 | +€72,409 | +1,683% |
| Cash at bank and in hand | 54/58 | €11,416 | €5,735 | -€5,681 | -49.8% |
| Deferred charges and accrued income | 490/1 | €788 | €862 | +€74 | +9.4% |
| Total equity and liabilities | 10/49 | €159,511 | €185,131 | +€25,620 | +16.1% |
| Equity | 10/15 | -€227,655 | -€361,662 | -€134,007 | -58.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€237,655 | -€371,662 | -€134,007 | -56.4% |
| Amounts payable | 17/49 | €387,166 | €546,793 | +€159,626 | +41.2% |
| Amounts payable after more than one year | 17 | €71,482 | €57,772 | -€13,710 | -19.2% |
| Financial debts | 170/4 | €71,482 | €57,772 | -€13,710 | -19.2% |
| Amounts payable within one year | 42/48 | €315,684 | €485,220 | +€169,536 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €13,060 | €13,710 | +€650 | +5.0% |
| Trade debts | 44 | €40,029 | €3,710 | -€36,319 | -90.7% |
| Suppliers | 440/4 | €40,029 | €3,710 | -€36,319 | -90.7% |
| Advances received on contracts in progress | 46 | €1,150 | €87,038 | +€85,888 | +7,469% |
| Taxes, remuneration and social security | 45 | €9,022 | €4,168 | -€4,854 | -53.8% |
| Taxes | 450/3 | €7,023 | €4,168 | -€2,855 | -40.7% |
| Remuneration and social security | 454/9 | €1,999 | - | -€1,999 | |
| Other amounts payable | 47/48 | €252,423 | €376,594 | +€124,172 | +49.2% |
| Accrued charges and deferred income | 492/3 | - | €3,800 | +€3,800 | |
| Remuneration, social security and pensions | 62 | €210,204 | €7,848 | -€202,356 | -96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,964 | €41,183 | -€20,781 | -33.5% |
| Other operating charges | 640/8 | €5,642 | €8,146 | +€2,503 | +44.4% |
| Gross operating margin | 9900 | €50,471 | -€71,750 | -€122,220 | |
| Operating profit (loss) | 9901 | -€227,340 | -€128,926 | +€98,414 | +43.3% |
| Financial income | 75/76B | €650 | €154 | -€497 | -76.4% |
| Recurring financial income | 75 | €650 | €154 | -€497 | -76.4% |
| Financial charges | 65/66B | €10,966 | €5,235 | -€5,731 | -52.3% |
| Recurring financial charges | 65 | €10,966 | €5,235 | -€5,731 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | -€237,655 | -€134,007 | +€103,649 | +43.6% |
| Profit (loss) for the period | 9904 | -€237,655 | -€134,007 | +€103,649 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€237,655 | -€134,007 | +€103,649 | +43.6% |
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 29 October 2026 via checked.be.