NVM: 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.
NVM
Largest movements
- Stocks and contracts +€47,655
up €47,655 (+8.5%), from €558,910 to €606,565
of which Contracts in progress: +€47,655
- Tangible fixed assets -€37,464
down €37,464 (-4.2%), from €889,904 to €852,440
of which Land and buildings: -€34,234
- Cash -€19,289
down €19,289 (-27.1%), from €71,178 to €51,889
mainly Stocks and contracts (-€47,655) and Debts after one year (-€33,455)
- Other debts +€34,896
up €34,896 (+5.2%), from €672,518 to €707,414
- Debts after one year -€33,455
down €33,455 (-5.2%), from €648,581 to €615,126
- Financial charges +€17,592
up €17,592 (+183.2%), from €9,604 to €27,196
- Gross operating margin +€16,550
up €16,550 (+37.1%), from €44,664 to €61,214
- Other operating charges -€2,096
down €2,096 (-38.3%), from €5,475 to €3,380
- Depreciation +€1,297
up €1,297 (+3.1%), from €42,421 to €43,718
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 | €1,584,873 | €1,585,706 | +€833 | +0.1% |
| Fixed assets | 21/28 | €889,904 | €852,440 | -€37,464 | -4.2% |
| Tangible fixed assets | 22/27 | €889,904 | €852,440 | -€37,464 | -4.2% |
| Land and buildings | 22 | €859,725 | €825,491 | -€34,234 | -4.0% |
| Plant, machinery and equipment | 23 | €29,732 | €26,646 | -€3,086 | -10.4% |
| Furniture and vehicles | 24 | €448 | €304 | -€144 | -32.2% |
| Current assets | 29/58 | €694,968 | €733,266 | +€38,297 | +5.5% |
| Stocks and contracts in progress | 3 | €558,910 | €606,565 | +€47,655 | +8.5% |
| Stocks | 30/36 | €21,717 | €21,717 | = | 0.0% |
| Contracts in progress | 37 | €537,192 | €584,847 | +€47,655 | +8.9% |
| Amounts receivable within one year | 40/41 | €63,107 | €72,841 | +€9,734 | +15.4% |
| Trade receivables | 40 | €4,139 | €12,408 | +€8,269 | +199.8% |
| Other amounts receivable | 41 | €58,968 | €60,433 | +€1,465 | +2.5% |
| Cash at bank and in hand | 54/58 | €71,178 | €51,889 | -€19,289 | -27.1% |
| Deferred charges and accrued income | 490/1 | €1,774 | €1,972 | +€198 | +11.2% |
| Total equity and liabilities | 10/49 | €1,584,873 | €1,585,706 | +€833 | +0.1% |
| Equity | 10/15 | -€140,613 | -€153,692 | -€13,079 | -9.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,613 | -€158,692 | -€13,079 | -9.0% |
| Amounts payable | 17/49 | €1,725,486 | €1,739,398 | +€13,912 | +0.8% |
| Amounts payable after more than one year | 17 | €648,581 | €615,126 | -€33,455 | -5.2% |
| Financial debts | 170/4 | €648,581 | €615,126 | -€33,455 | -5.2% |
| Amounts payable within one year | 42/48 | €1,075,497 | €1,122,078 | +€46,581 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €402,930 | €403,308 | +€378 | +0.1% |
| Trade debts | 44 | €49 | €11,331 | +€11,282 | +22959.4% |
| Suppliers | 440/4 | €49 | €11,331 | +€11,282 | +22959.4% |
| Taxes, remuneration and social security | 45 | - | €25 | +€25 | |
| Taxes | 450/3 | - | €25 | +€25 | |
| Other amounts payable | 47/48 | €672,518 | €707,414 | +€34,896 | +5.2% |
| Accrued charges and deferred income | 492/3 | €1,408 | €2,194 | +€786 | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,421 | €43,718 | +€1,297 | +3.1% |
| Other operating charges | 640/8 | €5,475 | €3,380 | -€2,096 | -38.3% |
| Gross operating margin | 9900 | €44,664 | €61,214 | +€16,550 | +37.1% |
| Operating profit (loss) | 9901 | -€3,232 | €14,117 | +€17,349 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,604 | €27,196 | +€17,592 | +183.2% |
| Recurring financial charges | 65 | €9,604 | €27,196 | +€17,592 | +183.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,836 | -€13,079 | -€243 | -1.9% |
| Profit (loss) for the period | 9904 | -€12,836 | -€13,079 | -€243 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,836 | -€13,079 | -€243 | -1.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.