NvN activiteit: 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.
NvN activiteit
Largest movements
- Current investments +€43,000
new in 2025: €43,000
- Cash -€16,800
down €16,800 (-63.1%), from €26,614 to €9,815
mainly Current investments (-€43,000) and Contributions, distributions and other (-€25,000)
- Tangible fixed assets -€14,725
down €14,725 (-21.2%), from €69,617 to €54,892
of which Furniture and vehicles: -€13,803
- Other debts +€8,522
up €8,522 (+161.2%), from €5,287 to €13,809
- Reserves +€2,980
up €2,980 (+3.2%), from €94,086 to €97,066
- Gross operating margin -€19,506
down €19,506 (-27.6%), from €70,601 to €51,095
- Depreciation +€6,845
up €6,845 (+86.9%), from €7,880 to €14,725
- Taxes -€5,091
down €5,091 (-39.8%), from €12,778 to €7,687
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 | €108,256 | €120,169 | +€11,913 | +11.0% |
| Fixed assets | 21/28 | €69,617 | €54,892 | -€14,725 | -21.2% |
| Tangible fixed assets | 22/27 | €69,617 | €54,892 | -€14,725 | -21.2% |
| Land and buildings | 22 | €3,231 | €2,814 | -€417 | -12.9% |
| Plant, machinery and equipment | 23 | €4,331 | €3,826 | -€505 | -11.7% |
| Furniture and vehicles | 24 | €62,055 | €48,252 | -€13,803 | -22.2% |
| Current assets | 29/58 | €38,639 | €65,277 | +€26,638 | +68.9% |
| Amounts receivable within one year | 40/41 | €10,984 | €11,320 | +€336 | +3.1% |
| Trade receivables | 40 | €10,984 | €11,320 | +€336 | +3.1% |
| Current investments | 50/53 | - | €43,000 | +€43,000 | |
| Cash at bank and in hand | 54/58 | €26,614 | €9,815 | -€16,800 | -63.1% |
| Deferred charges and accrued income | 490/1 | €1,040 | €1,142 | +€102 | +9.8% |
| Total equity and liabilities | 10/49 | €108,256 | €120,169 | +€11,913 | +11.0% |
| Equity | 10/15 | €96,586 | €99,566 | +€2,980 | +3.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €94,086 | €97,066 | +€2,980 | +3.2% |
| Distributable reserves | 133 | €94,086 | €97,066 | +€2,980 | +3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €11,670 | €20,603 | +€8,933 | +76.6% |
| Amounts payable within one year | 42/48 | €11,651 | €20,584 | +€8,933 | +76.7% |
| Trade debts | 44 | €161 | €138 | -€23 | -14.3% |
| Suppliers | 440/4 | €161 | €138 | -€23 | -14.3% |
| Taxes, remuneration and social security | 45 | €6,203 | €6,637 | +€434 | +7.0% |
| Taxes | 450/3 | €6,203 | €6,637 | +€434 | +7.0% |
| Other amounts payable | 47/48 | €5,287 | €13,809 | +€8,522 | +161.2% |
| Accrued charges and deferred income | 492/3 | €19 | €19 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,880 | €14,725 | +€6,845 | +86.9% |
| Other operating charges | 640/8 | €144 | €671 | +€527 | +366.3% |
| Gross operating margin | 9900 | €70,601 | €51,095 | -€19,506 | -27.6% |
| Operating profit (loss) | 9901 | €62,577 | €35,700 | -€26,877 | -43.0% |
| Financial income | 75/76B | €0 | €58 | +€58 | +96533.3% |
| Recurring financial income | 75 | €0 | €58 | +€58 | +96533.3% |
| Financial charges | 65/66B | €89 | €90 | +€1 | +0.7% |
| Recurring financial charges | 65 | €89 | €90 | +€1 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €62,488 | €35,667 | -€26,820 | -42.9% |
| Income taxes | 67/77 | €12,778 | €7,687 | -€5,091 | -39.8% |
| Profit (loss) for the period | 9904 | €49,709 | €27,980 | -€21,729 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,709 | €27,980 | -€21,729 | -43.7% |
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 8 October 2026 via checked.be.