NSVE: 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.
NSVE
Largest movements
- Cash +€114,677
up €114,677 (+62.1%), from €184,620 to €299,297
mainly Net result for the year (+€41,057) and Receivables within one year (+€33,118)
- Receivables within one year -€33,118
down €33,118 (-34.8%), from €95,118 to €62,000
of which Trade receivables: -€24,000
- Tangible fixed assets -€27,106
down €27,106 (-31.5%), from €85,919 to €58,813
of which Furniture and vehicles: -€14,308
- Reserves +€41,057
up €41,057 (+14.2%), from €289,420 to €330,476
of which Distributable reserves: +€41,057
- Tax, wage and social debts +€8,390
up €8,390 (+40.4%), from €20,749 to €29,139
of which Taxes: +€8,390
- Other debts +€6,963
up €6,963 (+24.9%), from €27,989 to €34,952
- Gross operating margin -€57,080
down €57,080 (-38.9%), from €146,755 to €89,676
- Taxes -€15,597
down €15,597 (-47.5%), from €32,800 to €17,204
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 | €375,062 | €429,199 | +€54,136 | +14.4% |
| Fixed assets | 21/28 | €85,954 | €58,848 | -€27,106 | -31.5% |
| Tangible fixed assets | 22/27 | €85,919 | €58,813 | -€27,106 | -31.5% |
| Land and buildings | 22 | €47,732 | €34,933 | -€12,799 | -26.8% |
| Furniture and vehicles | 24 | €32,188 | €17,880 | -€14,308 | -44.5% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €289,108 | €370,351 | +€81,243 | +28.1% |
| Amounts receivable within one year | 40/41 | €95,118 | €62,000 | -€33,118 | -34.8% |
| Trade receivables | 40 | €86,000 | €62,000 | -€24,000 | -27.9% |
| Other amounts receivable | 41 | €9,118 | €0 | -€9,118 | -100% |
| Current investments | 50/53 | €8,500 | €8,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €184,620 | €299,297 | +€114,677 | +62.1% |
| Deferred charges and accrued income | 490/1 | €871 | €554 | -€317 | -36.4% |
| Total equity and liabilities | 10/49 | €375,062 | €429,199 | +€54,136 | +14.4% |
| Equity | 10/15 | €309,058 | €350,115 | +€41,057 | +13.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €289,420 | €330,476 | +€41,057 | +14.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €286,920 | €327,976 | +€41,057 | +14.3% |
| Profit (loss) carried forward | 14 | -€5,361 | -€5,361 | = | 0.0% |
| Amounts payable | 17/49 | €66,004 | €79,084 | +€13,080 | +19.8% |
| Amounts payable after more than one year | 17 | €10,000 | €10,000 | = | 0.0% |
| Financial debts | 170/4 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,348 | €66,147 | +€12,799 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,610 | €2,057 | -€2,554 | -55.4% |
| Suppliers | 440/4 | €4,610 | €2,057 | -€2,554 | -55.4% |
| Taxes, remuneration and social security | 45 | €20,749 | €29,139 | +€8,390 | +40.4% |
| Taxes | 450/3 | €20,749 | €29,139 | +€8,390 | +40.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €27,989 | €34,952 | +€6,963 | +24.9% |
| Accrued charges and deferred income | 492/3 | €2,655 | €2,936 | +€281 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,417 | €27,106 | +€689 | +2.6% |
| Other operating charges | 640/8 | €1,138 | €1,133 | -€5 | -0.4% |
| Gross operating margin | 9900 | €146,755 | €89,676 | -€57,080 | -38.9% |
| Operating profit (loss) | 9901 | €119,200 | €61,436 | -€57,764 | -48.5% |
| Financial charges | 65/66B | €3,131 | €3,175 | +€44 | +1.4% |
| Recurring financial charges | 65 | €3,131 | €3,175 | +€44 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €116,069 | €58,261 | -€57,809 | -49.8% |
| Income taxes | 67/77 | €32,800 | €17,204 | -€15,597 | -47.5% |
| Profit (loss) for the period | 9904 | €83,269 | €41,057 | -€42,212 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,269 | €41,057 | -€42,212 | -50.7% |
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 14 October 2026 via checked.be.