NVW: 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.
NVW
Largest movements
- Cash +€47,797
up €47,797 (+48.3%), from €98,892 to €146,689
mainly Net result for the year (+€28,233) and Depreciation (+€22,022)
- Deferred charges and accrued income +€7,217
new in 2024: €7,217
- Reserves +€28,233
up €28,233 (+15.7%), from €179,978 to €208,212
- Debts after one year +€16,481
up €16,481 (+6.0%), from €272,992 to €289,473
of which Other amounts payable: +€16,481
- Gross operating margin +€23,403
up €23,403 (+36.2%), from €64,707 to €88,110
- Depreciation -€13,048
down €13,048 (-37.2%), from €35,071 to €22,022
- Taxes +€8,859
up €8,859 (+202.2%), from €4,382 to €13,241
- Financial charges +€6,546
up €6,546 (+42.0%), from €15,571 to €22,117
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €602,018 | €649,193 | +€47,175 | +7.8% |
| Fixed assets | 21/28 | €487,290 | €481,602 | -€5,688 | -1.2% |
| Tangible fixed assets | 22/27 | €487,290 | €481,602 | -€5,688 | -1.2% |
| Land and buildings | 22 | €481,585 | €464,821 | -€16,764 | -3.5% |
| Furniture and vehicles | 24 | €5,705 | €16,781 | +€11,076 | +194.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €114,728 | €167,590 | +€52,862 | +46.1% |
| Amounts receivable within one year | 40/41 | €15,836 | €13,684 | -€2,152 | -13.6% |
| Trade receivables | 40 | €14,637 | €13,684 | -€953 | -6.5% |
| Other amounts receivable | 41 | €1,199 | €0 | -€1,199 | -100.0% |
| Cash at bank and in hand | 54/58 | €98,892 | €146,689 | +€47,797 | +48.3% |
| Deferred charges and accrued income | 490/1 | - | €7,217 | +€7,217 | |
| Total equity and liabilities | 10/49 | €602,018 | €649,193 | +€47,175 | +7.8% |
| Equity | 10/15 | €318,578 | €346,812 | +€28,233 | +8.9% |
| Contributions | 10/11 | €138,600 | €138,600 | = | 0.0% |
| Reserves | 13 | €179,978 | €208,212 | +€28,233 | +15.7% |
| Distributable reserves | 133 | €179,978 | €208,212 | +€28,233 | +15.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €283,440 | €302,381 | +€18,942 | +6.7% |
| Amounts payable after more than one year | 17 | €272,992 | €289,473 | +€16,481 | +6.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €272,992 | €289,473 | +€16,481 | +6.0% |
| Amounts payable within one year | 42/48 | €9,453 | €11,913 | +€2,461 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €72 | €76 | +€4 | +5.6% |
| Credit institutions | 430/8 | €72 | €76 | +€4 | +5.6% |
| Trade debts | 44 | €4,969 | €4,702 | -€267 | -5.4% |
| Suppliers | 440/4 | €4,969 | €4,702 | -€267 | -5.4% |
| Taxes, remuneration and social security | 45 | €4,412 | €7,135 | +€2,723 | +61.7% |
| Taxes | 450/3 | €4,412 | €7,135 | +€2,723 | +61.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €995 | €995 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,071 | €22,022 | -€13,048 | -37.2% |
| Other operating charges | 640/8 | €2,638 | €3,119 | +€481 | +18.2% |
| Gross operating margin | 9900 | €64,707 | €88,110 | +€23,403 | +36.2% |
| Operating profit (loss) | 9901 | €26,998 | €62,968 | +€35,970 | +133.2% |
| Financial income | 75/76B | €270 | €623 | +€353 | +130.7% |
| Recurring financial income | 75 | €270 | €623 | +€353 | +130.7% |
| Financial charges | 65/66B | €15,571 | €22,117 | +€6,546 | +42.0% |
| Recurring financial charges | 65 | €15,571 | €22,117 | +€6,546 | +42.0% |
| Profit (loss) for the period before taxes | 9903 | €11,697 | €41,474 | +€29,777 | +254.6% |
| Income taxes | 67/77 | €4,382 | €13,241 | +€8,859 | +202.2% |
| Profit (loss) for the period | 9904 | €7,315 | €28,233 | +€20,918 | +286.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,315 | €28,233 | +€20,918 | +286.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.