NWND: 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.
NWND
Largest movements
- Financial fixed assets +€57,331
up €57,331 (+573.3%), from €10,000 to €67,331
- Current investments -€57,331
no longer reported in 2025 (was €57,331)
- Tangible fixed assets +€16,048
up €16,048 (+27.9%), from €57,602 to €73,651
of which Land and buildings: +€26,295
- Receivables within one year -€13,804
down €13,804 (-45.7%), from €30,201 to €16,397
of which Trade receivables: -€8,390
- Cash +€12,593
up €12,593 (+23.6%), from €53,338 to €65,932
mainly Other debts (+€69,689) and Current investments (+€57,331)
- Other debts +€69,689
new in 2025: €69,689
- Reserves -€48,661
down €48,661 (-26.2%), from €185,858 to €137,197
- Debts after one year -€6,043
no longer reported in 2025 (was €6,043)
- Tax, wage and social debts +€4,426
up €4,426 (+78.0%), from €5,672 to €10,097
- Current portion of long-term debt -€2,895
down €2,895 (-32.4%), from €8,938 to €6,043
- Gross operating margin +€9,131
up €9,131 (+12.4%), from €73,391 to €82,522
- Taxes +€2,304
up €2,304 (+17.9%), from €12,897 to €15,201
- Depreciation +€1,760
up €1,760 (+15.5%), from €11,320 to €13,080
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 | €208,787 | €225,947 | +€17,160 | +8.2% |
| Fixed assets | 21/28 | €67,602 | €140,981 | +€73,379 | +108.5% |
| Tangible fixed assets | 22/27 | €57,602 | €73,651 | +€16,048 | +27.9% |
| Land and buildings | 22 | €38,058 | €64,354 | +€26,295 | +69.1% |
| Plant, machinery and equipment | 23 | €3,771 | €3,183 | -€587 | -15.6% |
| Furniture and vehicles | 24 | €15,773 | €6,113 | -€9,660 | -61.2% |
| Financial fixed assets | 28 | €10,000 | €67,331 | +€57,331 | +573.3% |
| Current assets | 29/58 | €141,185 | €84,966 | -€56,219 | -39.8% |
| Amounts receivable within one year | 40/41 | €30,201 | €16,397 | -€13,804 | -45.7% |
| Trade receivables | 40 | €24,120 | €15,730 | -€8,390 | -34.8% |
| Other amounts receivable | 41 | €6,081 | €667 | -€5,414 | -89.0% |
| Current investments | 50/53 | €57,331 | - | -€57,331 | |
| Cash at bank and in hand | 54/58 | €53,338 | €65,932 | +€12,593 | +23.6% |
| Deferred charges and accrued income | 490/1 | €315 | €2,637 | +€2,322 | +738.1% |
| Total equity and liabilities | 10/49 | €208,787 | €225,947 | +€17,160 | +8.2% |
| Equity | 10/15 | €186,858 | €138,197 | -€48,661 | -26.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €185,858 | €137,197 | -€48,661 | -26.2% |
| Distributable reserves | 133 | €185,858 | €137,197 | -€48,661 | -26.2% |
| Amounts payable | 17/49 | €21,929 | €87,750 | +€65,821 | +300.2% |
| Amounts payable after more than one year | 17 | €6,043 | - | -€6,043 | |
| Financial debts | 170/4 | €6,043 | - | -€6,043 | |
| Amounts payable within one year | 42/48 | €15,886 | €87,750 | +€71,865 | +452.4% |
| Current portion of amounts payable after more than one year | 42 | €8,938 | €6,043 | -€2,895 | -32.4% |
| Trade debts | 44 | €1,276 | €1,921 | +€646 | +50.6% |
| Suppliers | 440/4 | €1,276 | €1,921 | +€646 | +50.6% |
| Taxes, remuneration and social security | 45 | €5,672 | €10,097 | +€4,426 | +78.0% |
| Taxes | 450/3 | €5,672 | €10,097 | +€4,426 | +78.0% |
| Other amounts payable | 47/48 | - | €69,689 | +€69,689 | |
| Remuneration, social security and pensions | 62 | €1,920 | €1,760 | -€160 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,320 | €13,080 | +€1,760 | +15.5% |
| Other operating charges | 640/8 | €894 | €641 | -€253 | -28.3% |
| Gross operating margin | 9900 | €73,391 | €82,522 | +€9,131 | +12.4% |
| Operating profit (loss) | 9901 | €59,257 | €67,041 | +€7,784 | +13.1% |
| Financial income | 75/76B | €138 | - | -€138 | |
| Recurring financial income | 75 | €138 | - | -€138 | |
| Financial charges | 65/66B | €717 | €502 | -€215 | -30.0% |
| Recurring financial charges | 65 | €717 | €502 | -€215 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €58,678 | €66,539 | +€7,862 | +13.4% |
| Income taxes | 67/77 | €12,897 | €15,201 | +€2,304 | +17.9% |
| Profit (loss) for the period | 9904 | €45,781 | €51,339 | +€5,558 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,781 | €51,339 | +€5,558 | +12.1% |
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 6 October 2026 via checked.be.