NVIC: what changed
Two fiscal 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.
NVIC
Largest movements
- Tangible fixed assets +€75,217
up €75,217 (+378.3%), from €19,882 to €95,099
of which Furniture and vehicles: +€73,993
- Cash +€53,522
up €53,522 (+75.9%), from €70,563 to €124,085
mainly Other debts (+€402,278) and Net result for the year (+€168,520)
- Stocks and contracts +€39,396
new in 2025: €39,396
- Other debts +€402,278
up €402,278 (+11296.8%), from €3,561 to €405,839
- Reserves -€231,480
down €231,480 (-30.6%), from €756,271 to €524,791
- Gross operating margin -€10,112
down €10,112 (-8.1%), from €124,523 to €114,411
- Financial income +€6,970
up €6,970 (+7.9%), from €88,404 to €95,374
- Depreciation +€2,840
up €2,840 (+17.5%), from €16,192 to €19,032
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 | €785,733 | €960,707 | +€174,974 | +22.3% |
| Fixed assets | 21/28 | €317,882 | €393,099 | +€75,217 | +23.7% |
| Tangible fixed assets | 22/27 | €19,882 | €95,099 | +€75,217 | +378.3% |
| Plant, machinery and equipment | 23 | €1,511 | €2,736 | +€1,225 | +81.0% |
| Furniture and vehicles | 24 | €18,371 | €92,364 | +€73,993 | +402.8% |
| Financial fixed assets | 28 | €298,000 | €298,000 | = | 0.0% |
| Current assets | 29/58 | €467,851 | €567,608 | +€99,757 | +21.3% |
| Stocks and contracts in progress | 3 | - | €39,396 | +€39,396 | |
| Stocks | 30/36 | - | €39,396 | +€39,396 | |
| Amounts receivable within one year | 40/41 | €49,288 | €48,236 | -€1,053 | -2.1% |
| Trade receivables | 40 | €43,531 | €47,259 | +€3,728 | +8.6% |
| Other amounts receivable | 41 | €5,758 | €977 | -€4,781 | -83.0% |
| Current investments | 50/53 | €348,000 | €352,650 | +€4,651 | +1.3% |
| Cash at bank and in hand | 54/58 | €70,563 | €124,085 | +€53,522 | +75.9% |
| Deferred charges and accrued income | 490/1 | - | €3,241 | +€3,241 | |
| Total equity and liabilities | 10/49 | €785,733 | €960,707 | +€174,974 | +22.3% |
| Equity | 10/15 | €774,871 | €543,391 | -€231,480 | -29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €756,271 | €524,791 | -€231,480 | -30.6% |
| Distributable reserves | 133 | €756,271 | €524,791 | -€231,480 | -30.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €10,862 | €417,317 | +€406,454 | +3742.0% |
| Amounts payable within one year | 42/48 | €10,862 | €417,317 | +€406,454 | +3742.0% |
| Trade debts | 44 | €1,352 | €3,159 | +€1,807 | +133.6% |
| Suppliers | 440/4 | €1,352 | €3,159 | +€1,807 | +133.6% |
| Taxes, remuneration and social security | 45 | €5,949 | €8,318 | +€2,370 | +39.8% |
| Taxes | 450/3 | €5,949 | €8,318 | +€2,370 | +39.8% |
| Other amounts payable | 47/48 | €3,561 | €405,839 | +€402,278 | +11296.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,192 | €19,032 | +€2,840 | +17.5% |
| Other operating charges | 640/8 | €665 | €706 | +€40 | +6.0% |
| Gross operating margin | 9900 | €124,523 | €114,411 | -€10,112 | -8.1% |
| Operating profit (loss) | 9901 | €107,666 | €94,674 | -€12,992 | -12.1% |
| Financial income | 75/76B | €88,404 | €95,374 | +€6,970 | +7.9% |
| Recurring financial income | 75 | €88,404 | €95,374 | +€6,970 | +7.9% |
| Financial charges | 65/66B | €51 | €182 | +€132 | +259.1% |
| Recurring financial charges | 65 | €51 | €182 | +€132 | +259.1% |
| Profit (loss) for the period before taxes | 9903 | €196,019 | €189,865 | -€6,154 | -3.1% |
| Income taxes | 67/77 | €20,689 | €21,345 | +€656 | +3.2% |
| Profit (loss) for the period | 9904 | €175,330 | €168,520 | -€6,810 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €175,330 | €168,520 | -€6,810 | -3.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.