NVF CONNECTIONS: 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.
NVF CONNECTIONS
Largest movements
- Receivables within one year -€40,562
down €40,562 (-17.6%), from €230,180 to €189,618
of which Other amounts receivable: -€107,618
- Short-term financial debts -€22,170
down €22,170 (-42.4%), from €52,344 to €30,173
- Profit (loss) carried forward -€22,061
down €22,061 (-63.3%), from -€34,878 to -€56,939
- Tax, wage and social debts +€21,296
up €21,296 (+2,803%), from €760 to €22,056
- Trade debts -€18,063
down €18,063 (-9.2%), from €196,059 to €177,996
- Staff costs -€29,678
down €29,678 (-100%), from €29,678 to €0
- Gross operating margin -€23,889
down €23,889, from €14,617 to -€9,273
- Taxes +€11,149
up €11,149 (+207%), from €5,388 to €16,537
- Financial income -€2,434
down €2,434 (-25.4%), from €9,577 to €7,143
- Financial charges -€1,246
down €1,246 (-34.5%), from €3,612 to €2,366
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,616 | €189,618 | -€40,999 | -17.8% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €230,616 | €189,618 | -€40,999 | -17.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €230,180 | €189,618 | -€40,562 | -17.6% |
| Trade receivables | 40 | €38,903 | €105,959 | +€67,056 | +172% |
| Other amounts receivable | 41 | €191,277 | €83,659 | -€107,618 | -56.3% |
| Deferred charges and accrued income | 490/1 | €436 | €0 | -€436 | -100% |
| Total equity and liabilities | 10/49 | €230,616 | €189,618 | -€40,999 | -17.8% |
| Equity | 10/15 | -€18,546 | -€40,607 | -€22,061 | -119% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €8,271 | €8,271 | = | 0.0% |
| Distributable reserves | 133 | €8,271 | €8,271 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,878 | -€56,939 | -€22,061 | -63.3% |
| Amounts payable | 17/49 | €249,163 | €230,225 | -€18,938 | -7.6% |
| Amounts payable within one year | 42/48 | €249,163 | €230,225 | -€18,938 | -7.6% |
| Financial debts | 43 | €52,344 | €30,173 | -€22,170 | -42.4% |
| Credit institutions | 430/8 | €52,344 | €30,173 | -€22,170 | -42.4% |
| Trade debts | 44 | €196,059 | €177,996 | -€18,063 | -9.2% |
| Suppliers | 440/4 | €196,059 | €177,996 | -€18,063 | -9.2% |
| Taxes, remuneration and social security | 45 | €760 | €22,056 | +€21,296 | +2,803% |
| Taxes | 450/3 | €760 | €22,056 | +€21,296 | +2,803% |
| Remuneration, social security and pensions | 62 | €29,678 | €0 | -€29,678 | -100% |
| Other operating charges | 640/8 | €1,658 | €1,028 | -€630 | -38.0% |
| Gross operating margin | 9900 | €14,617 | -€9,273 | -€23,889 | |
| Operating profit (loss) | 9901 | -€16,720 | -€10,301 | +€6,419 | +38.4% |
| Financial income | 75/76B | €9,577 | €7,143 | -€2,434 | -25.4% |
| Recurring financial income | 75 | €9,577 | €7,143 | -€2,434 | -25.4% |
| Financial charges | 65/66B | €3,612 | €2,366 | -€1,246 | -34.5% |
| Recurring financial charges | 65 | €3,612 | €2,366 | -€1,246 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,754 | -€5,524 | +€5,231 | +48.6% |
| Income taxes | 67/77 | €5,388 | €16,537 | +€11,149 | +207% |
| Profit (loss) for the period | 9904 | -€16,142 | -€22,061 | -€5,919 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,142 | -€22,061 | -€5,919 | -36.7% |
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 26 October 2026 via checked.be.