NVest: 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.
NVest
Largest movements
- Cash +€220,558
up €220,558 (+112%), from €197,522 to €418,080
mainly Net result for the year (+€293,171) and Other debts (+€126,563)
- Tangible fixed assets -€72,547
down €72,547 (-6.8%), from €1.1m to €986,599
of which Other tangible fixed assets: -€38,210
- Other debts +€126,563
up €126,563 (+108%), from €116,920 to €243,483
- Reserves +€41,967
up €41,967 (+5.4%), from €778,927 to €820,894
of which Distributable reserves: +€41,967
- Tax, wage and social debts +€39,303
up €39,303 (+126%), from €31,292 to €70,594
- Debts after one year -€33,729
down €33,729 (-16.1%), from €209,527 to €175,798
- Trade debts -€24,694
down €24,694 (-62.3%), from €39,642 to €14,947
- Gross operating margin +€123,061
up €123,061 (+32.5%), from €378,303 to €501,364
- Purchases and services -€39,736
down €39,736 (-18.4%), from €216,328 to €176,592
- Taxes +€38,462
up €38,462 (+51.0%), from €75,377 to €113,838
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 | €1,260,252 | €1,411,029 | +€150,777 | +12.0% |
| Fixed assets | 21/28 | €1,060,145 | €987,599 | -€72,547 | -6.8% |
| Tangible fixed assets | 22/27 | €1,059,145 | €986,599 | -€72,547 | -6.8% |
| Land and buildings | 22 | €659,037 | €633,781 | -€25,255 | -3.8% |
| Plant, machinery and equipment | 23 | €5,838 | €5,530 | -€308 | -5.3% |
| Furniture and vehicles | 24 | €94,023 | €85,249 | -€8,774 | -9.3% |
| Other tangible fixed assets | 26 | €300,248 | €262,038 | -€38,210 | -12.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €200,107 | €423,430 | +€223,323 | +112% |
| Amounts receivable within one year | 40/41 | €622 | €3,173 | +€2,551 | +410% |
| Trade receivables | 40 | - | €2,670 | +€2,670 | |
| Other amounts receivable | 41 | €622 | €503 | -€118 | -19.1% |
| Cash at bank and in hand | 54/58 | €197,522 | €418,080 | +€220,558 | +112% |
| Deferred charges and accrued income | 490/1 | €1,963 | €2,177 | +€215 | +10.9% |
| Total equity and liabilities | 10/49 | €1,260,252 | €1,411,029 | +€150,777 | +12.0% |
| Equity | 10/15 | €818,828 | €860,795 | +€41,967 | +5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €778,927 | €820,894 | +€41,967 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €777,067 | €819,034 | +€41,967 | +5.4% |
| Profit (loss) carried forward | 14 | €21,301 | €21,301 | = | 0.0% |
| Provisions and deferred taxes | 16 | €11,577 | €11,577 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €11,577 | €11,577 | = | 0.0% |
| Major repairs and maintenance | 162 | €11,577 | €11,577 | = | 0.0% |
| Amounts payable | 17/49 | €429,848 | €538,657 | +€108,809 | +25.3% |
| Amounts payable after more than one year | 17 | €209,527 | €175,798 | -€33,729 | -16.1% |
| Financial debts | 170/4 | €209,527 | €175,798 | -€33,729 | -16.1% |
| Amounts payable within one year | 42/48 | €220,321 | €362,860 | +€142,538 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €32,468 | €33,835 | +€1,367 | +4.2% |
| Trade debts | 44 | €39,642 | €14,947 | -€24,694 | -62.3% |
| Suppliers | 440/4 | €39,642 | €14,947 | -€24,694 | -62.3% |
| Taxes, remuneration and social security | 45 | €31,292 | €70,594 | +€39,303 | +126% |
| Taxes | 450/3 | €31,292 | €70,594 | +€39,303 | +126% |
| Other amounts payable | 47/48 | €116,920 | €243,483 | +€126,563 | +108% |
| Goods, raw materials, services and sundry goods | 60/61 | €216,328 | €176,592 | -€39,736 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,032 | €87,288 | +€2,256 | +2.7% |
| Other operating charges | 640/8 | €2,555 | €3,266 | +€710 | +27.8% |
| Gross operating margin | 9900 | €378,303 | €501,364 | +€123,061 | +32.5% |
| Operating profit (loss) | 9901 | €290,716 | €410,810 | +€120,094 | +41.3% |
| Financial income | 75/76B | €134 | €300 | +€165 | +123% |
| Recurring financial income | 75 | €134 | €300 | +€165 | +123% |
| Financial charges | 65/66B | €4,324 | €4,101 | -€224 | -5.2% |
| Recurring financial charges | 65 | €4,324 | €4,101 | -€224 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €286,526 | €407,009 | +€120,483 | +42.0% |
| Income taxes | 67/77 | €75,377 | €113,838 | +€38,462 | +51.0% |
| Profit (loss) for the period | 9904 | €211,150 | €293,171 | +€82,021 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €211,150 | €293,171 | +€82,021 | +38.8% |
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 19 October 2026 via checked.be.