NVD PRODUCT: what changed
NVD PRODUCT
Largest movements
- Cash -€19,394
down €19,394 (-92.8%), from €20,903 to €1,509
mainly Net result for the year (-€17,087) and Tax, wage and social debts (-€8,215)
- Tangible fixed assets -€13,849
down €13,849 (-34.0%), from €40,703 to €26,854
of which Furniture and vehicles: -€13,412
- Receivables within one year -€694
down €694 (-22.7%), from €3,056 to €2,362
- Profit (loss) carried forward -€17,087
down €17,087, from €3,914 to -€13,173
- Tax, wage and social debts -€8,215
down €8,215 (-78.3%), from €10,488 to €2,273
of which Remuneration and social security: -€8,000
- Debts after one year -€4,861
down €4,861 (-24.6%), from €19,759 to €14,898
- Other debts -€2,773
down €2,773 (-40.4%), from €6,864 to €4,091
- Trade debts -€1,122
down €1,122 (-77.3%), from €1,452 to €330
- Gross operating margin -€25,984
down €25,984, from €25,307 to -€677
- Depreciation +€1,127
up €1,127 (+8.3%), from €13,521 to €14,648
- Financial charges -€1,110
down €1,110 (-59.0%), from €1,881 to €771
- Other operating charges +€290
up €290 (+39.5%), from €735 to €1,025
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,662 | €30,725 | -€33,937 | -52.5% |
| Fixed assets | 21/28 | €40,703 | €26,854 | -€13,849 | -34.0% |
| Tangible fixed assets | 22/27 | €40,703 | €26,854 | -€13,849 | -34.0% |
| Plant, machinery and equipment | 23 | €948 | €511 | -€437 | -46.1% |
| Furniture and vehicles | 24 | €39,755 | €26,343 | -€13,412 | -33.7% |
| Current assets | 29/58 | €23,959 | €3,871 | -€20,088 | -83.8% |
| Amounts receivable within one year | 40/41 | €3,056 | €2,362 | -€694 | -22.7% |
| Trade receivables | 40 | €3,056 | €2,362 | -€694 | -22.7% |
| Cash at bank and in hand | 54/58 | €20,903 | €1,509 | -€19,394 | -92.8% |
| Total equity and liabilities | 10/49 | €64,662 | €30,725 | -€33,937 | -52.5% |
| Equity | 10/15 | €21,359 | €4,272 | -€17,087 | -80.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,245 | €11,245 | = | 0.0% |
| Distributable reserves | 133 | €11,245 | €11,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,914 | -€13,173 | -€17,087 | |
| Amounts payable | 17/49 | €43,303 | €26,453 | -€16,850 | -38.9% |
| Amounts payable after more than one year | 17 | €19,759 | €14,898 | -€4,861 | -24.6% |
| Financial debts | 170/4 | €19,759 | €14,898 | -€4,861 | -24.6% |
| Amounts payable within one year | 42/48 | €23,544 | €11,555 | -€11,989 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €4,740 | €4,861 | +€121 | +2.6% |
| Trade debts | 44 | €1,452 | €330 | -€1,122 | -77.3% |
| Suppliers | 440/4 | €1,452 | €330 | -€1,122 | -77.3% |
| Taxes, remuneration and social security | 45 | €10,488 | €2,273 | -€8,215 | -78.3% |
| Taxes | 450/3 | €2,488 | €2,273 | -€215 | -8.6% |
| Remuneration and social security | 454/9 | €8,000 | - | -€8,000 | |
| Other amounts payable | 47/48 | €6,864 | €4,091 | -€2,773 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,521 | €14,648 | +€1,127 | +8.3% |
| Other operating charges | 640/8 | €735 | €1,025 | +€290 | +39.5% |
| Gross operating margin | 9900 | €25,307 | -€677 | -€25,984 | |
| Operating profit (loss) | 9901 | €11,051 | -€16,350 | -€27,401 | |
| Financial charges | 65/66B | €1,881 | €771 | -€1,110 | -59.0% |
| Recurring financial charges | 65 | €1,881 | €771 | -€1,110 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €9,170 | -€17,121 | -€26,291 | |
| Income taxes | 67/77 | €208 | -€34 | -€242 | |
| Profit (loss) for the period | 9904 | €8,962 | -€17,087 | -€26,049 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,962 | -€17,087 | -€26,049 |
Next steps
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 2 November 2026 via checked.be.