NVD Law: 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.
NVD Law
Largest movements
- Cash +€110,267
up €110,267 (+370%), from €29,768 to €140,035
mainly Current investments (+€65,000) and Net result for the year (+€45,102)
- Current investments -€65,000
no longer reported in 2025 (was €65,000)
- Tangible fixed assets +€2,701
up €2,701 (+176%), from €1,532 to €4,234
of which Furniture and vehicles: +€3,375
- Reserves +€45,102
up €45,102 (+53.1%), from €84,907 to €130,009
- Tax, wage and social debts +€3,315
up €3,315 (+55.2%), from €6,009 to €9,324
- Other debts -€1,801
down €1,801 (-21.8%), from €8,251 to €6,450
- Gross operating margin -€8,191
down €8,191 (-12.2%), from €67,140 to €58,948
- Taxes -€1,783
down €1,783 (-13.3%), from €13,406 to €11,623
- Financial income +€1,147
up €1,147 (+1,762%), from €65 to €1,213
- Depreciation +€848
up €848 (+174%), from €488 to €1,337
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 | €100,221 | €146,783 | +€46,562 | +46.5% |
| Fixed assets | 21/28 | €1,532 | €4,234 | +€2,701 | +176% |
| Tangible fixed assets | 22/27 | €1,532 | €4,234 | +€2,701 | +176% |
| Plant, machinery and equipment | 23 | €1,532 | €859 | -€674 | -44.0% |
| Furniture and vehicles | 24 | - | €3,375 | +€3,375 | |
| Current assets | 29/58 | €98,689 | €142,550 | +€43,861 | +44.4% |
| Amounts receivable within one year | 40/41 | €3,376 | €2,515 | -€861 | -25.5% |
| Trade receivables | 40 | €54 | €51 | -€3 | -6.1% |
| Other amounts receivable | 41 | €3,321 | €2,464 | -€858 | -25.8% |
| Current investments | 50/53 | €65,000 | - | -€65,000 | |
| Cash at bank and in hand | 54/58 | €29,768 | €140,035 | +€110,267 | +370% |
| Deferred charges and accrued income | 490/1 | €545 | - | -€545 | |
| Total equity and liabilities | 10/49 | €100,221 | €146,783 | +€46,562 | +46.5% |
| Equity | 10/15 | €85,907 | €131,009 | +€45,102 | +52.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €84,907 | €130,009 | +€45,102 | +53.1% |
| Distributable reserves | 133 | €84,907 | €130,009 | +€45,102 | +53.1% |
| Amounts payable | 17/49 | €14,314 | €15,774 | +€1,460 | +10.2% |
| Amounts payable within one year | 42/48 | €14,314 | €15,774 | +€1,460 | +10.2% |
| Trade debts | 44 | €54 | - | -€54 | |
| Suppliers | 440/4 | €54 | - | -€54 | |
| Taxes, remuneration and social security | 45 | €6,009 | €9,324 | +€3,315 | +55.2% |
| Taxes | 450/3 | €6,009 | €9,324 | +€3,315 | +55.2% |
| Other amounts payable | 47/48 | €8,251 | €6,450 | -€1,801 | -21.8% |
| Remuneration, social security and pensions | 62 | €1,584 | €1,712 | +€128 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €488 | €1,337 | +€848 | +174% |
| Other operating charges | 640/8 | €505 | €400 | -€106 | -20.9% |
| Gross operating margin | 9900 | €67,140 | €58,948 | -€8,191 | -12.2% |
| Operating profit (loss) | 9901 | €64,562 | €55,500 | -€9,062 | -14.0% |
| Financial income | 75/76B | €65 | €1,213 | +€1,147 | +1,762% |
| Recurring financial income | 75 | €65 | €1,213 | +€1,147 | +1,762% |
| Financial charges | 65/66B | €44 | -€12 | -€56 | |
| Recurring financial charges | 65 | €44 | -€12 | -€56 | |
| Profit (loss) for the period before taxes | 9903 | €64,583 | €56,725 | -€7,858 | -12.2% |
| Income taxes | 67/77 | €13,406 | €11,623 | -€1,783 | -13.3% |
| Profit (loss) for the period | 9904 | €51,178 | €45,102 | -€6,076 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,178 | €45,102 | -€6,076 | -11.9% |
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 23 October 2026 via checked.be.