NVCS: 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.
NVCS
Largest movements
- Receivables within one year +€138,849
up €138,849 (+337.2%), from €41,181 to €180,030
of which Other amounts receivable: +€141,167
- Cash -€54,750
down €54,750 (-93.6%), from €58,509 to €3,759
mainly Receivables within one year (-€138,849) and Other debts (-€3,773)
- Deferred charges and accrued income +€3,435
new in 2025: €3,435
- Tangible fixed assets -€3,057
down €3,057 (-29.7%), from €10,286 to €7,230
of which Furniture and vehicles: -€2,485
- Reserves +€72,648
up €72,648 (+99.8%), from €72,786 to €145,434
- Tax, wage and social debts +€18,157
up €18,157 (+66.9%), from €27,125 to €45,282
of which Taxes: +€19,957
- Other debts -€3,773
no longer reported in 2025 (was €3,773)
- Trade debts -€2,556
down €2,556 (-77.6%), from €3,292 to €737
- Gross operating margin -€4,767
down €4,767 (-4.9%), from €96,772 to €92,005
- Financial income +€3,930
new in 2025: €3,930
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 | €109,976 | €194,453 | +€84,477 | +76.8% |
| Fixed assets | 21/28 | €10,286 | €7,230 | -€3,057 | -29.7% |
| Tangible fixed assets | 22/27 | €10,286 | €7,230 | -€3,057 | -29.7% |
| Land and buildings | 22 | €4,760 | €4,249 | -€511 | -10.7% |
| Plant, machinery and equipment | 23 | €618 | €556 | -€62 | -10.0% |
| Furniture and vehicles | 24 | €4,909 | €2,424 | -€2,485 | -50.6% |
| Current assets | 29/58 | €99,690 | €187,224 | +€87,534 | +87.8% |
| Amounts receivable within one year | 40/41 | €41,181 | €180,030 | +€138,849 | +337.2% |
| Trade receivables | 40 | €37,334 | €35,016 | -€2,318 | -6.2% |
| Other amounts receivable | 41 | €3,847 | €145,014 | +€141,167 | +3669.9% |
| Cash at bank and in hand | 54/58 | €58,509 | €3,759 | -€54,750 | -93.6% |
| Deferred charges and accrued income | 490/1 | - | €3,435 | +€3,435 | |
| Total equity and liabilities | 10/49 | €109,976 | €194,453 | +€84,477 | +76.8% |
| Equity | 10/15 | €75,786 | €148,434 | +€72,648 | +95.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €72,786 | €145,434 | +€72,648 | +99.8% |
| Distributable reserves | 133 | €72,786 | €145,434 | +€72,648 | +99.8% |
| Amounts payable | 17/49 | €34,190 | €46,019 | +€11,829 | +34.6% |
| Amounts payable within one year | 42/48 | €34,190 | €46,019 | +€11,829 | +34.6% |
| Trade debts | 44 | €3,292 | €737 | -€2,556 | -77.6% |
| Suppliers | 440/4 | €3,292 | €737 | -€2,556 | -77.6% |
| Taxes, remuneration and social security | 45 | €27,125 | €45,282 | +€18,157 | +66.9% |
| Taxes | 450/3 | €25,325 | €45,282 | +€19,957 | +78.8% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €3,773 | - | -€3,773 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,132 | €3,057 | -€76 | -2.4% |
| Other operating charges | 640/8 | €1,400 | €929 | -€471 | -33.6% |
| Gross operating margin | 9900 | €96,772 | €92,005 | -€4,767 | -4.9% |
| Operating profit (loss) | 9901 | €92,240 | €88,019 | -€4,221 | -4.6% |
| Financial income | 75/76B | - | €3,930 | +€3,930 | |
| Recurring financial income | 75 | - | €3,930 | +€3,930 | |
| Financial charges | 65/66B | €399 | €75 | -€324 | -81.1% |
| Recurring financial charges | 65 | €399 | €75 | -€324 | -81.1% |
| Profit (loss) for the period before taxes | 9903 | €91,841 | €91,874 | +€33 | 0.0% |
| Income taxes | 67/77 | €19,055 | €19,226 | +€171 | +0.9% |
| Profit (loss) for the period | 9904 | €72,786 | €72,648 | -€138 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,786 | €72,648 | -€138 | -0.2% |
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 30 September 2026 via checked.be.