NWART: 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.
NWART
Largest movements
- Intangible fixed assets -€10,000
down €10,000 (-16.4%), from €60,918 to €50,918
- Cash +€8,723
up €8,723 (+119%), from €7,337 to €16,059
mainly Net result for the year (+€28,390) and Depreciation (+€10,250)
- Tax, wage and social debts +€5,346
up €5,346 (+243%), from €2,201 to €7,547
- Other debts -€3,930
down €3,930 (-8.6%), from €45,908 to €41,979
- Profit (loss) carried forward -€1,610
down €1,610 (-15.9%), from €10,157 to €8,547
- Trade debts -€730
down €730 (-41.6%), from €1,752 to €1,022
- Gross operating margin +€25,662
up €25,662 (+111%), from €23,178 to €48,840
- Taxes +€5,121
up €5,121 (+149%), from €3,448 to €8,569
- Other operating charges +€579
up €579 (+79.5%), from €728 to €1,307
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 | €69,018 | €68,095 | -€924 | -1.3% |
| Formation expenses | 20 | €250 | - | -€250 | |
| Fixed assets | 21/28 | €60,961 | €50,961 | -€10,000 | -16.4% |
| Intangible fixed assets | 21 | €60,918 | €50,918 | -€10,000 | -16.4% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €7,807 | €17,133 | +€9,326 | +119% |
| Amounts receivable within one year | 40/41 | - | €550 | +€550 | |
| Other amounts receivable | 41 | - | €550 | +€550 | |
| Cash at bank and in hand | 54/58 | €7,337 | €16,059 | +€8,723 | +119% |
| Deferred charges and accrued income | 490/1 | €470 | €524 | +€54 | +11.4% |
| Total equity and liabilities | 10/49 | €69,018 | €68,095 | -€924 | -1.3% |
| Equity | 10/15 | €16,157 | €14,547 | -€1,610 | -10.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,157 | €8,547 | -€1,610 | -15.9% |
| Amounts payable | 17/49 | €52,862 | €53,548 | +€686 | +1.3% |
| Amounts payable within one year | 42/48 | €52,862 | €53,548 | +€686 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €3,000 | €3,000 | = | 0.0% |
| Trade debts | 44 | €1,752 | €1,022 | -€730 | -41.6% |
| Suppliers | 440/4 | €1,752 | €1,022 | -€730 | -41.6% |
| Taxes, remuneration and social security | 45 | €2,201 | €7,547 | +€5,346 | +243% |
| Taxes | 450/3 | €2,201 | €7,547 | +€5,346 | +243% |
| Other amounts payable | 47/48 | €45,908 | €41,979 | -€3,930 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,337 | €10,250 | -€87 | -0.8% |
| Other operating charges | 640/8 | €728 | €1,307 | +€579 | +79.5% |
| Gross operating margin | 9900 | €23,178 | €48,840 | +€25,662 | +111% |
| Operating profit (loss) | 9901 | €12,113 | €37,283 | +€25,170 | +208% |
| Financial income | 75/76B | €2 | €2 | -€0 | -3.2% |
| Recurring financial income | 75 | €2 | €2 | -€0 | -3.2% |
| Financial charges | 65/66B | €142 | €326 | +€184 | +130% |
| Recurring financial charges | 65 | €142 | €326 | +€184 | +130% |
| Profit (loss) for the period before taxes | 9903 | €11,973 | €36,960 | +€24,987 | +209% |
| Income taxes | 67/77 | €3,448 | €8,569 | +€5,121 | +149% |
| Profit (loss) for the period | 9904 | €8,525 | €28,390 | +€19,865 | +233% |
| Profit (loss) for the period to be appropriated | 9905 | €8,525 | €28,390 | +€19,865 | +233% |
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 17 October 2026 via checked.be.