NVBG: 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.
NVBG
Largest movements
- Receivables within one year +€8,092
up €8,092 (+72.1%), from €11,220 to €19,312
of which Trade receivables: +€7,619
- Tangible fixed assets -€6,699
down €6,699 (-4.3%), from €154,063 to €147,363
of which Land and buildings: -€6,699
- Debts after one year -€16,054
down €16,054 (-24.0%), from €66,871 to €50,817
- Profit (loss) carried forward +€11,572
up €11,572 (+101.8%), from €11,366 to €22,938
- Trade debts +€4,950
up €4,950 (+1860.7%), from €266 to €5,216
- Current portion of long-term debt -€2,011
down €2,011 (-11.9%), from €16,971 to €14,960
- Taxes +€2,654
up €2,654 (+310.3%), from €855 to €3,509
- Depreciation -€2,520
down €2,520 (-27.3%), from €9,219 to €6,699
- Financial charges +€1,955
up €1,955, from -€738 to €1,217
- Gross operating margin -€1,851
down €1,851 (-7.0%), from €26,476 to €24,625
- Other operating charges +€877
up €877 (+117.0%), from €750 to €1,627
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 | €170,133 | €169,834 | -€299 | -0.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €154,063 | €147,363 | -€6,699 | -4.3% |
| Tangible fixed assets | 22/27 | €154,063 | €147,363 | -€6,699 | -4.3% |
| Land and buildings | 22 | €154,063 | €147,363 | -€6,699 | -4.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €16,070 | €22,470 | +€6,400 | +39.8% |
| Amounts receivable within one year | 40/41 | €11,220 | €19,312 | +€8,092 | +72.1% |
| Trade receivables | 40 | €4,306 | €11,926 | +€7,619 | +176.9% |
| Other amounts receivable | 41 | €6,913 | €7,386 | +€473 | +6.8% |
| Cash at bank and in hand | 54/58 | €4,370 | €2,669 | -€1,701 | -38.9% |
| Deferred charges and accrued income | 490/1 | €481 | €489 | +€8 | +1.7% |
| Total equity and liabilities | 10/49 | €170,133 | €169,834 | -€299 | -0.2% |
| Equity | 10/15 | €44,366 | €55,938 | +€11,572 | +26.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,366 | €22,938 | +€11,572 | +101.8% |
| Amounts payable | 17/49 | €125,767 | €113,895 | -€11,872 | -9.4% |
| Amounts payable after more than one year | 17 | €66,871 | €50,817 | -€16,054 | -24.0% |
| Financial debts | 170/4 | €66,871 | €50,817 | -€16,054 | -24.0% |
| Amounts payable within one year | 42/48 | €58,896 | €63,078 | +€4,182 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €16,971 | €14,960 | -€2,011 | -11.9% |
| Trade debts | 44 | €266 | €5,216 | +€4,950 | +1860.7% |
| Suppliers | 440/4 | €266 | €5,216 | +€4,950 | +1860.7% |
| Taxes, remuneration and social security | 45 | €5,158 | €6,289 | +€1,131 | +21.9% |
| Taxes | 450/3 | €5,158 | €6,289 | +€1,131 | +21.9% |
| Other amounts payable | 47/48 | €36,501 | €36,613 | +€112 | +0.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,219 | €6,699 | -€2,520 | -27.3% |
| Other operating charges | 640/8 | €750 | €1,627 | +€877 | +117.0% |
| Gross operating margin | 9900 | €26,476 | €24,625 | -€1,851 | -7.0% |
| Operating profit (loss) | 9901 | €16,507 | €16,298 | -€209 | -1.3% |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | -€738 | €1,217 | +€1,955 | |
| Recurring financial charges | 65 | -€738 | €1,217 | +€1,955 | |
| Profit (loss) for the period before taxes | 9903 | €17,246 | €15,082 | -€2,164 | -12.5% |
| Income taxes | 67/77 | €855 | €3,509 | +€2,654 | +310.3% |
| Profit (loss) for the period | 9904 | €16,391 | €11,572 | -€4,818 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,391 | €11,572 | -€4,818 | -29.4% |
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 9 October 2026 via checked.be.