NVW: 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.
NVW
Largest movements
- Tangible fixed assets -€3,350
down €3,350 (-29.2%), from €11,476 to €8,126
of which Furniture and vehicles: -€4,327
- Receivables within one year -€652
down €652 (-23.5%), from €2,771 to €2,118
of which Trade receivables: -€423
- Cash -€644
down €644 (-78.6%), from €819 to €175
mainly Net result for the year (-€5,931) and Investment in fixed assets (net) (-€1,020)
- Deferred charges and accrued income -€154
down €154 (-64.3%), from €240 to €86
- Profit (loss) carried forward -€5,931
down €5,931 (-49.5%), from -€11,993 to -€17,924
- Other debts +€1,238
up €1,238 (+31.6%), from €3,920 to €5,158
- Gross operating margin -€9,966
down €9,966, from €8,917 to -€1,048
- Depreciation +€2,864
up €2,864 (+190%), from €1,506 to €4,370
- Taxes -€1,036
down €1,036 (-89.0%), from €1,164 to €128
- Other operating charges +€183
up €183 (+124%), from €148 to €331
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 | €15,306 | €10,505 | -€4,800 | -31.4% |
| Fixed assets | 21/28 | €11,476 | €8,126 | -€3,350 | -29.2% |
| Tangible fixed assets | 22/27 | €11,476 | €8,126 | -€3,350 | -29.2% |
| Plant, machinery and equipment | 23 | - | €977 | +€977 | |
| Furniture and vehicles | 24 | €11,476 | €7,149 | -€4,327 | -37.7% |
| Current assets | 29/58 | €3,830 | €2,379 | -€1,450 | -37.9% |
| Amounts receivable within one year | 40/41 | €2,771 | €2,118 | -€652 | -23.5% |
| Trade receivables | 40 | €2,360 | €1,937 | -€423 | -17.9% |
| Other amounts receivable | 41 | €411 | €182 | -€229 | -55.7% |
| Cash at bank and in hand | 54/58 | €819 | €175 | -€644 | -78.6% |
| Deferred charges and accrued income | 490/1 | €240 | €86 | -€154 | -64.3% |
| Total equity and liabilities | 10/49 | €15,306 | €10,505 | -€4,800 | -31.4% |
| Equity | 10/15 | €8,007 | €2,076 | -€5,931 | -74.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,993 | -€17,924 | -€5,931 | -49.5% |
| Amounts payable | 17/49 | €7,298 | €8,430 | +€1,131 | +15.5% |
| Amounts payable within one year | 42/48 | €7,298 | €8,430 | +€1,131 | +15.5% |
| Trade debts | 44 | €2,084 | €1,943 | -€141 | -6.7% |
| Suppliers | 440/4 | €2,084 | €1,943 | -€141 | -6.7% |
| Taxes, remuneration and social security | 45 | €1,295 | €1,328 | +€34 | +2.6% |
| Taxes | 450/3 | €1,295 | €1,328 | +€34 | +2.6% |
| Other amounts payable | 47/48 | €3,920 | €5,158 | +€1,238 | +31.6% |
| Non-recurring operating income | 76A | €333 | €0 | -€333 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,506 | €4,370 | +€2,864 | +190% |
| Other operating charges | 640/8 | €148 | €331 | +€183 | +124% |
| Gross operating margin | 9900 | €8,917 | -€1,048 | -€9,966 | |
| Operating profit (loss) | 9901 | €7,264 | -€5,749 | -€13,013 | |
| Financial income | 75/76B | €32 | €0 | -€32 | -100% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100% |
| Financial charges | 65/66B | €27 | €54 | +€27 | +100% |
| Recurring financial charges | 65 | €27 | €54 | +€27 | +100% |
| Profit (loss) for the period before taxes | 9903 | €7,268 | -€5,803 | -€13,071 | |
| Income taxes | 67/77 | €1,164 | €128 | -€1,036 | -89.0% |
| Profit (loss) for the period | 9904 | €6,104 | -€5,931 | -€12,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,104 | -€5,931 | -€12,035 |
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 16 October 2026 via checked.be.