NW MANAGEMENT: 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.
NW MANAGEMENT
Largest movements
- Receivables within one year -€46,066
down €46,066 (-99.9%), from €46,118 to €53
of which Trade receivables: -€28,997
- Receivables after one year +€30,600
new in 2025: €30,600
- Cash -€2,363
down €2,363 (-4.2%), from €55,779 to €53,417
mainly Receivables after one year (-€30,600) and Other debts (-€26,751)
- Other debts -€26,751
down €26,751 (-99.9%), from €26,772 to €21
- Profit (loss) carried forward +€23,890
up €23,890 (+59.9%), from €39,880 to €63,770
- Trade debts -€12,975
down €12,975 (-77.8%), from €16,683 to €3,708
- Advances received -€6,922
no longer reported in 2025 (was €6,922)
- Tax, wage and social debts +€4,678
up €4,678 (+406%), from €1,153 to €5,831
- Gross operating margin +€39,938
up €39,938, from -€14,088 to €25,850
- Depreciation -€1,145
down €1,145 (-37.3%), from €3,070 to €1,925
- Financial income +€765
new in 2025: €765
- Taxes +€330
up €330 (+220%), from €150 to €480
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 | €111,870 | €93,790 | -€18,080 | -16.2% |
| Fixed assets | 21/28 | €5,536 | €4,519 | -€1,017 | -18.4% |
| Tangible fixed assets | 22/27 | €4,423 | €3,406 | -€1,017 | -23.0% |
| Furniture and vehicles | 24 | €1,789 | €1,099 | -€690 | -38.5% |
| Other tangible fixed assets | 26 | €2,634 | €2,307 | -€328 | -12.4% |
| Financial fixed assets | 28 | €1,113 | €1,113 | = | 0.0% |
| Current assets | 29/58 | €106,334 | €89,271 | -€17,063 | -16.0% |
| Amounts receivable after more than one year | 29 | - | €30,600 | +€30,600 | |
| Other amounts receivable | 291 | - | €30,600 | +€30,600 | |
| Amounts receivable within one year | 40/41 | €46,118 | €53 | -€46,066 | -99.9% |
| Trade receivables | 40 | €29,050 | €53 | -€28,997 | -99.8% |
| Other amounts receivable | 41 | €17,068 | - | -€17,068 | |
| Cash at bank and in hand | 54/58 | €55,779 | €53,417 | -€2,363 | -4.2% |
| Deferred charges and accrued income | 490/1 | €4,436 | €5,201 | +€765 | +17.2% |
| Total equity and liabilities | 10/49 | €111,870 | €93,790 | -€18,080 | -16.2% |
| Equity | 10/15 | €60,340 | €84,230 | +€23,890 | +39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,880 | €63,770 | +€23,890 | +59.9% |
| Amounts payable | 17/49 | €51,530 | €9,560 | -€41,970 | -81.4% |
| Amounts payable within one year | 42/48 | €51,530 | €9,560 | -€41,970 | -81.4% |
| Trade debts | 44 | €16,683 | €3,708 | -€12,975 | -77.8% |
| Suppliers | 440/4 | €16,683 | €3,708 | -€12,975 | -77.8% |
| Advances received on contracts in progress | 46 | €6,922 | - | -€6,922 | |
| Taxes, remuneration and social security | 45 | €1,153 | €5,831 | +€4,678 | +406% |
| Taxes | 450/3 | €1,153 | €5,831 | +€4,678 | +406% |
| Other amounts payable | 47/48 | €26,772 | €21 | -€26,751 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,070 | €1,925 | -€1,145 | -37.3% |
| Gross operating margin | 9900 | -€14,088 | €25,850 | +€39,938 | |
| Operating profit (loss) | 9901 | -€17,158 | €23,925 | +€41,083 | |
| Financial income | 75/76B | - | €765 | +€765 | |
| Recurring financial income | 75 | - | €765 | +€765 | |
| Financial charges | 65/66B | €202 | €319 | +€117 | +58.1% |
| Recurring financial charges | 65 | €202 | €319 | +€117 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,360 | €24,371 | +€41,730 | |
| Income taxes | 67/77 | €150 | €480 | +€330 | +220% |
| Profit (loss) for the period | 9904 | -€17,510 | €23,890 | +€41,400 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,510 | €23,890 | +€41,400 |
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.