NSV VASTGOED: what changed
What changed
NSV VASTGOED
NACE 73.300, Public relations and communication consultancy
filed annual accounts (NBB)
Net result for the year
€313,552
2024 · -€120,799+€434,351
Equity
€557,186
2024 · €243,634+€313,552
Cash
€47,264
2024 · €113,172-€65,908
Balance sheet total
€4.8m
2024 · €4.7m+€51,488
Largest movements
Assets
- Tangible fixed assets +€185,360
up €185,360 (+4.4%), from €4.2m to €4.4m
of which Land and buildings: +€194,489
- Cash -€65,908
down €65,908 (-58.2%), from €113,172 to €47,264
mainly Debts after one year (-€1.3m) and Investment in fixed assets (net) (-€284,984)
- Receivables within one year -€65,321
down €65,321 (-15.3%), from €426,996 to €361,675
of which Trade receivables: -€54,855
Equity and liabilities
- Debts after one year -€1.3m
down €1.3m (-30.1%), from €4.2m to €2.9m
of which Other amounts payable: -€1.1m
- Other debts +€1.0m
up €1.0m (+8,016%), from €12,930 to €1.0m
- Reserves +€313,552
up €313,552 (+139%), from €225,034 to €538,586
of which Tax-exempt reserves: +€263,213
- Provisions +€87,738
new in 2025: €87,738
- Trade debts -€73,094
down €73,094 (-88.6%), from €82,520 to €9,426
Income statement
- Gross operating margin +€460,832
up €460,832 (+181%), from €254,280 to €715,112
- Other operating charges -€116,847
down €116,847 (-74.1%), from €157,685 to €40,838
- Financial charges +€53,567
up €53,567 (+71.7%), from €74,755 to €128,322
- Depreciation -€29,385
down €29,385 (-22.8%), from €129,009 to €99,624
- Staff costs +€16,628
up €16,628 (+127%), from €13,101 to €29,729
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€120,799
Gross operating margin
+€460,832
Staff costs
-€16,628
Depreciation
+€29,385
Other operating charges
+€116,847
Financial income
+€17
Financial charges
-€53,567
Taxes
-€14,797
Deferred taxes and other
-€87,738
Result 2025
€313,552
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.5m
Investment
-€284,984
Financing
-€1.3m
Cash 2024
€113,172
From operations (derived)
+€1.5m
Net result for the year
+€313,552
Depreciation
+€99,624
Receivables within one year
+€65,321
Deferred charges and accrued income
+€2,644
Provisions
+€87,738
Trade debts
-€73,094
Tax, wage and social debts
-€26,101
Other debts
+€1.0m
Accrued charges and deferred income
+€9,542
Investment (derived)
-€284,984
Investment in fixed assets (net)
-€284,984
Financing
-€1.3m
Debts after one year
-€1.3m
Current portion of long-term debt
-€34,261
Cash 2025
€47,264
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,724,887 | €4,776,375 | +€51,488 | +1.1% |
| Fixed assets | 21/28 | €4,182,076 | €4,367,436 | +€185,360 | +4.4% |
| Tangible fixed assets | 22/27 | €4,182,076 | €4,367,436 | +€185,360 | +4.4% |
| Land and buildings | 22 | €4,161,999 | €4,356,489 | +€194,489 | +4.7% |
| Plant, machinery and equipment | 23 | €6,321 | €5,575 | -€745 | -11.8% |
| Furniture and vehicles | 24 | €3,425 | €3,692 | +€267 | +7.8% |
| Leasing and similar rights | 25 | €10,331 | €0 | -€10,331 | -100% |
| Other tangible fixed assets | 26 | - | €1,680 | +€1,680 | |
| Current assets | 29/58 | €542,812 | €408,939 | -€133,872 | -24.7% |
| Amounts receivable within one year | 40/41 | €426,996 | €361,675 | -€65,321 | -15.3% |
| Trade receivables | 40 | €376,530 | €321,675 | -€54,855 | -14.6% |
| Other amounts receivable | 41 | €50,466 | €40,000 | -€10,466 | -20.7% |
| Cash at bank and in hand | 54/58 | €113,172 | €47,264 | -€65,908 | -58.2% |
| Deferred charges and accrued income | 490/1 | €2,644 | €0 | -€2,644 | -100% |
| Total equity and liabilities | 10/49 | €4,724,887 | €4,776,375 | +€51,488 | +1.1% |
| Equity | 10/15 | €243,634 | €557,186 | +€313,552 | +129% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €225,034 | €538,586 | +€313,552 | +139% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €263,213 | +€263,213 | |
| Distributable reserves | 133 | €223,174 | €273,513 | +€50,339 | +22.6% |
| Provisions and deferred taxes | 16 | - | €87,738 | +€87,738 | |
| Deferred taxes | 168 | - | €87,738 | +€87,738 | |
| Amounts payable | 17/49 | €4,481,254 | €4,131,451 | -€349,802 | -7.8% |
| Amounts payable after more than one year | 17 | €4,187,701 | €2,925,344 | -€1.3m | -30.1% |
| Financial debts | 170/4 | €3,095,817 | €2,925,344 | -€170,473 | -5.5% |
| Other amounts payable | 178/9 | €1,091,884 | €0 | -€1.1m | -100% |
| Amounts payable within one year | 42/48 | €293,553 | €1,196,565 | +€903,012 | +308% |
| Current portion of amounts payable after more than one year | 42 | €158,276 | €124,015 | -€34,261 | -21.6% |
| Trade debts | 44 | €82,520 | €9,426 | -€73,094 | -88.6% |
| Suppliers | 440/4 | €82,520 | €9,426 | -€73,094 | -88.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €39,827 | €13,727 | -€26,101 | -65.5% |
| Taxes | 450/3 | €29,952 | €9,892 | -€20,060 | -67.0% |
| Remuneration and social security | 454/9 | €9,875 | €3,835 | -€6,040 | -61.2% |
| Other amounts payable | 47/48 | €12,930 | €1,049,398 | +€1.0m | +8,016% |
| Accrued charges and deferred income | 492/3 | - | €9,542 | +€9,542 | |
| Non-recurring operating income | 76A | - | €41,116 | +€41,116 | |
| Remuneration, social security and pensions | 62 | €13,101 | €29,729 | +€16,628 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,009 | €99,624 | -€29,385 | -22.8% |
| Other operating charges | 640/8 | €157,685 | €40,838 | -€116,847 | -74.1% |
| Gross operating margin | 9900 | €254,280 | €715,112 | +€460,832 | +181% |
| Operating profit (loss) | 9901 | -€45,514 | €544,921 | +€590,436 | |
| Financial income | 75/76B | €1 | €18 | +€17 | +3,034% |
| Recurring financial income | 75 | €1 | €18 | +€17 | +3,034% |
| Financial charges | 65/66B | €74,755 | €128,322 | +€53,567 | +71.7% |
| Recurring financial charges | 65 | €74,755 | €128,322 | +€53,567 | +71.7% |
| Profit (loss) for the period before taxes | 9903 | -€120,269 | €416,617 | +€536,886 | |
| Transfer from deferred taxes | 780 | - | €3,014 | +€3,014 | |
| Transfer to deferred taxes | 680 | - | €90,752 | +€90,752 | |
| Income taxes | 67/77 | €530 | €15,328 | +€14,797 | +2,789% |
| Profit (loss) for the period | 9904 | -€120,799 | €313,552 | +€434,351 | |
| Transfer from tax-exempt reserves | 789 | - | €9,043 | +€9,043 | |
| Transfer to tax-exempt reserves | 689 | - | €272,256 | +€272,256 | |
| Profit (loss) for the period to be appropriated | 9905 | -€120,799 | €50,339 | +€171,138 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.