NVE: 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.
NVE
Largest movements
- Receivables within one year -€63,350
down €63,350 (-82.7%), from €76,589 to €13,238
of which Other amounts receivable: -€49,183
- Receivables after one year -€62,409
down €62,409 (-59.5%), from €104,816 to €42,407
- Cash -€16,589
down €16,589 (-100.0%), from €16,589 to €0
mainly Contributions, distributions and other (-€111,071) and Tax, wage and social debts (-€21,319)
- Financial fixed assets -€4,800
down €4,800 (-49.0%), from €9,800 to €5,000
- Reserves -€111,071
down €111,071 (-72.0%), from €154,209 to €43,138
- Tax, wage and social debts -€21,319
down €21,319 (-75.4%), from €28,289 to €6,969
- Profit (loss) carried forward -€10,914
down €10,914, from €0 to -€10,914
- Current portion of long-term debt -€6,834
down €6,834 (-45.1%), from €15,161 to €8,328
- Short-term financial debts +€6,675
new in 2025: €6,675
- Gross operating margin -€21,864
down €21,864 (-86.0%), from €25,416 to €3,552
- Financial charges +€6,097
up €6,097 (+162.9%), from €3,742 to €9,839
of which Non-recurring financial charges: +€4,799
- Taxes -€5,131
down €5,131 (-81.0%), from €6,331 to €1,201
- Depreciation +€589
up €589 (+18.6%), from €3,174 to €3,763
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 | €226,523 | €80,220 | -€146,303 | -64.6% |
| Fixed assets | 21/28 | €28,026 | €24,095 | -€3,931 | -14.0% |
| Tangible fixed assets | 22/27 | €18,226 | €19,095 | +€869 | +4.8% |
| Furniture and vehicles | 24 | €3,999 | €2,768 | -€1,231 | -30.8% |
| Other tangible fixed assets | 26 | €14,227 | €16,326 | +€2,100 | +14.8% |
| Financial fixed assets | 28 | €9,800 | €5,000 | -€4,800 | -49.0% |
| Current assets | 29/58 | €198,498 | €56,126 | -€142,372 | -71.7% |
| Amounts receivable after more than one year | 29 | €104,816 | €42,407 | -€62,409 | -59.5% |
| Other amounts receivable | 291 | €104,816 | €42,407 | -€62,409 | -59.5% |
| Amounts receivable within one year | 40/41 | €76,589 | €13,238 | -€63,350 | -82.7% |
| Trade receivables | 40 | €18,150 | €3,983 | -€14,167 | -78.1% |
| Other amounts receivable | 41 | €58,439 | €9,255 | -€49,183 | -84.2% |
| Cash at bank and in hand | 54/58 | €16,589 | €0 | -€16,589 | -100.0% |
| Deferred charges and accrued income | 490/1 | €504 | €480 | -€24 | -4.8% |
| Total equity and liabilities | 10/49 | €226,523 | €80,220 | -€146,303 | -64.6% |
| Equity | 10/15 | €166,609 | €44,624 | -€121,985 | -73.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €154,209 | €43,138 | -€111,071 | -72.0% |
| Distributable reserves | 133 | €154,209 | €43,138 | -€111,071 | -72.0% |
| Profit (loss) carried forward | 14 | €0 | -€10,914 | -€10,914 | |
| Amounts payable | 17/49 | €59,914 | €35,596 | -€24,318 | -40.6% |
| Amounts payable after more than one year | 17 | €15,993 | €13,625 | -€2,368 | -14.8% |
| Financial debts | 170/4 | €15,993 | €13,625 | -€2,368 | -14.8% |
| Amounts payable within one year | 42/48 | €43,922 | €21,972 | -€21,950 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €15,161 | €8,328 | -€6,834 | -45.1% |
| Financial debts | 43 | - | €6,675 | +€6,675 | |
| Credit institutions | 430/8 | - | €6,675 | +€6,675 | |
| Trade debts | 44 | €472 | €0 | -€472 | -100.0% |
| Suppliers | 440/4 | €472 | €0 | -€472 | -100.0% |
| Taxes, remuneration and social security | 45 | €28,289 | €6,969 | -€21,319 | -75.4% |
| Taxes | 450/3 | €28,289 | €6,969 | -€21,319 | -75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,174 | €3,763 | +€589 | +18.6% |
| Other operating charges | 640/8 | €1,254 | €1,048 | -€206 | -16.5% |
| Non-recurring operating charges | 66A | €5,147 | €0 | -€5,147 | -100.0% |
| Gross operating margin | 9900 | €25,416 | €3,552 | -€21,864 | -86.0% |
| Operating profit (loss) | 9901 | €15,842 | -€1,258 | -€17,100 | |
| Financial income | 75/76B | €1,449 | €1,384 | -€65 | -4.5% |
| Recurring financial income | 75 | €1,449 | €1,384 | -€65 | -4.5% |
| Financial charges | 65/66B | €3,742 | €9,839 | +€6,097 | +162.9% |
| Recurring financial charges | 65 | €3,742 | €5,040 | +€1,298 | +34.7% |
| Non-recurring financial charges | 66B | - | €4,799 | +€4,799 | |
| Profit (loss) for the period before taxes | 9903 | €13,549 | -€9,713 | -€23,262 | |
| Income taxes | 67/77 | €6,331 | €1,201 | -€5,131 | -81.0% |
| Profit (loss) for the period | 9904 | €7,217 | -€10,914 | -€18,131 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,217 | -€10,914 | -€18,131 |
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 12 October 2026 via checked.be.