NVW ONE: 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 ONE
Largest movements
- Stocks and contracts +€29,507
up €29,507 (+50.1%), from €58,941 to €88,448
- Receivables within one year +€28,681
up €28,681 (+97.6%), from €29,382 to €58,062
of which Trade receivables: +€31,214
- Cash -€9,764
down €9,764 (-85.6%), from €11,410 to €1,646
mainly Stocks and contracts (-€29,507) and Receivables within one year (-€28,681)
- Tangible fixed assets +€9,738
up €9,738 (+1122.7%), from €867 to €10,605
of which Other tangible fixed assets: +€10,196
- Deferred charges and accrued income +€3,272
up €3,272 (+780.6%), from €419 to €3,691
- Reserves +€45,863
up €45,863 (+131.6%), from €34,851 to €80,713
- Trade debts +€12,958
up €12,958 (+197.7%), from €6,554 to €19,511
- Tax, wage and social debts +€9,952
up €9,952 (+63.7%), from €15,635 to €25,587
- Other debts -€8,407
down €8,407 (-22.3%), from €37,646 to €29,238
- Gross operating margin +€64,957
up €64,957 (+1055.2%), from €6,156 to €71,113
- Taxes +€17,247
up €17,247 (+1053.2%), from €1,638 to €18,885
- Financial charges +€3,374
up €3,374 (+298.5%), from €1,130 to €4,504
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 | €101,019 | €162,453 | +€61,434 | +60.8% |
| Fixed assets | 21/28 | €867 | €10,605 | +€9,738 | +1122.7% |
| Tangible fixed assets | 22/27 | €867 | €10,605 | +€9,738 | +1122.7% |
| Furniture and vehicles | 24 | €867 | €410 | -€458 | -52.7% |
| Other tangible fixed assets | 26 | - | €10,196 | +€10,196 | |
| Current assets | 29/58 | €100,152 | €151,848 | +€51,696 | +51.6% |
| Stocks and contracts in progress | 3 | €58,941 | €88,448 | +€29,507 | +50.1% |
| Stocks | 30/36 | €58,941 | €88,448 | +€29,507 | +50.1% |
| Amounts receivable within one year | 40/41 | €29,382 | €58,062 | +€28,681 | +97.6% |
| Trade receivables | 40 | €25,722 | €56,936 | +€31,214 | +121.3% |
| Other amounts receivable | 41 | €3,659 | €1,126 | -€2,533 | -69.2% |
| Cash at bank and in hand | 54/58 | €11,410 | €1,646 | -€9,764 | -85.6% |
| Deferred charges and accrued income | 490/1 | €419 | €3,691 | +€3,272 | +780.6% |
| Total equity and liabilities | 10/49 | €101,019 | €162,453 | +€61,434 | +60.8% |
| Equity | 10/15 | €39,851 | €85,713 | +€45,863 | +115.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,851 | €80,713 | +€45,863 | +131.6% |
| Distributable reserves | 133 | €34,851 | €80,713 | +€45,863 | +131.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,169 | €76,740 | +€15,571 | +25.5% |
| Amounts payable within one year | 42/48 | €60,177 | €74,689 | +€14,513 | +24.1% |
| Financial debts | 43 | €342 | €352 | +€10 | +2.9% |
| Credit institutions | 430/8 | €342 | €352 | +€10 | +2.9% |
| Trade debts | 44 | €6,554 | €19,511 | +€12,958 | +197.7% |
| Suppliers | 440/4 | €6,554 | €19,511 | +€12,958 | +197.7% |
| Taxes, remuneration and social security | 45 | €15,635 | €25,587 | +€9,952 | +63.7% |
| Taxes | 450/3 | €15,635 | €25,587 | +€9,952 | +63.7% |
| Other amounts payable | 47/48 | €37,646 | €29,238 | -€8,407 | -22.3% |
| Accrued charges and deferred income | 492/3 | €992 | €2,050 | +€1,058 | +106.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458 | €458 | +€0 | 0.0% |
| Other operating charges | 640/8 | €822 | €1,405 | +€583 | +70.9% |
| Gross operating margin | 9900 | €6,156 | €71,113 | +€64,957 | +1055.2% |
| Operating profit (loss) | 9901 | €4,877 | €69,251 | +€64,375 | +1320.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,130 | €4,504 | +€3,374 | +298.5% |
| Recurring financial charges | 65 | €1,130 | €4,504 | +€3,374 | +298.5% |
| Profit (loss) for the period before taxes | 9903 | €3,747 | €64,747 | +€61,001 | +1628.2% |
| Income taxes | 67/77 | €1,638 | €18,885 | +€17,247 | +1053.2% |
| Profit (loss) for the period | 9904 | €2,109 | €45,863 | +€43,754 | +2074.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,109 | €45,863 | +€43,754 | +2074.6% |
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 2 October 2026 via checked.be.