NWOOD: 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.
NWOOD
Largest movements
- Tangible fixed assets -€135,451
down €135,451 (-32.4%), from €417,758 to €282,307
of which Leasing and similar rights: -€131,600
- Receivables within one year -€46,179
down €46,179 (-49.9%), from €92,534 to €46,355
of which Trade receivables: -€41,822
- Cash +€17,271
up €17,271 (+80.9%), from €21,344 to €38,614
mainly Other debts (+€229,584) and Depreciation (+€136,810)
- Other debts +€229,584
up €229,584 (+100.0%), from €229,690 to €459,274
- Profit (loss) carried forward -€196,092
down €196,092 (-23.0%), from -€853,304 to -€1.0m
- Debts after one year -€134,138
down €134,138 (-35.1%), from €382,687 to €248,549
- Trade debts -€65,829
down €65,829 (-41.5%), from €158,506 to €92,676
- Gross operating margin -€94,983
down €94,983 (-43.9%), from €216,564 to €121,581
- Financial charges -€39,903
down €39,903 (-76.6%), from €52,123 to €12,220
of which Non-recurring financial charges: -€38,656
- Staff costs -€36,742
down €36,742 (-17.9%), from €205,114 to €168,372
- Write-downs -€14,709
no longer reported in 2025 (was €14,709)
- Depreciation -€2,451
down €2,451 (-1.8%), from €139,261 to €136,810
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 | €666,452 | €506,748 | -€159,704 | -24.0% |
| Fixed assets | 21/28 | €417,758 | €282,307 | -€135,451 | -32.4% |
| Tangible fixed assets | 22/27 | €417,758 | €282,307 | -€135,451 | -32.4% |
| Plant, machinery and equipment | 23 | €22,290 | €18,925 | -€3,365 | -15.1% |
| Furniture and vehicles | 24 | €1,060 | €574 | -€486 | -45.9% |
| Leasing and similar rights | 25 | €394,408 | €262,808 | -€131,600 | -33.4% |
| Current assets | 29/58 | €248,694 | €224,441 | -€24,253 | -9.8% |
| Stocks and contracts in progress | 3 | €134,748 | €139,275 | +€4,527 | +3.4% |
| Stocks | 30/36 | €134,748 | €139,275 | +€4,527 | +3.4% |
| Amounts receivable within one year | 40/41 | €92,534 | €46,355 | -€46,179 | -49.9% |
| Trade receivables | 40 | €88,176 | €46,355 | -€41,822 | -47.4% |
| Other amounts receivable | 41 | €4,357 | - | -€4,357 | |
| Cash at bank and in hand | 54/58 | €21,344 | €38,614 | +€17,271 | +80.9% |
| Deferred charges and accrued income | 490/1 | €69 | €197 | +€129 | +188% |
| Total equity and liabilities | 10/49 | €666,452 | €506,748 | -€159,704 | -24.0% |
| Equity | 10/15 | -€257,304 | -€453,396 | -€196,092 | -76.2% |
| Contributions | 10/11 | €596,000 | €596,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€853,304 | -€1,049,396 | -€196,092 | -23.0% |
| Amounts payable | 17/49 | €923,756 | €960,144 | +€36,388 | +3.9% |
| Amounts payable after more than one year | 17 | €382,687 | €248,549 | -€134,138 | -35.1% |
| Financial debts | 170/4 | €382,687 | €248,549 | -€134,138 | -35.1% |
| Amounts payable within one year | 42/48 | €541,069 | €711,595 | +€170,526 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €132,846 | €134,138 | +€1,292 | +1.0% |
| Trade debts | 44 | €158,506 | €92,676 | -€65,829 | -41.5% |
| Suppliers | 440/4 | €158,506 | €92,676 | -€65,829 | -41.5% |
| Taxes, remuneration and social security | 45 | €20,028 | €25,507 | +€5,479 | +27.4% |
| Taxes | 450/3 | €1,409 | €2,219 | +€810 | +57.5% |
| Remuneration and social security | 454/9 | €18,619 | €23,288 | +€4,669 | +25.1% |
| Other amounts payable | 47/48 | €229,690 | €459,274 | +€229,584 | +100.0% |
| Non-recurring operating income | 76A | €106,483 | €81,750 | -€24,733 | -23.2% |
| Remuneration, social security and pensions | 62 | €205,114 | €168,372 | -€36,742 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,261 | €136,810 | -€2,451 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,709 | - | -€14,709 | |
| Other operating charges | 640/8 | €302 | €270 | -€31 | -10.4% |
| Gross operating margin | 9900 | €216,564 | €121,581 | -€94,983 | -43.9% |
| Operating profit (loss) | 9901 | -€142,822 | -€183,872 | -€41,049 | -28.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €52,123 | €12,220 | -€39,903 | -76.6% |
| Recurring financial charges | 65 | €13,467 | €12,220 | -€1,247 | -9.3% |
| Non-recurring financial charges | 66B | €38,656 | - | -€38,656 | |
| Profit (loss) for the period before taxes | 9903 | -€194,945 | -€196,092 | -€1,147 | -0.6% |
| Profit (loss) for the period | 9904 | -€194,945 | -€196,092 | -€1,147 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€194,945 | -€196,092 | -€1,147 | -0.6% |
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 15 October 2026 via checked.be.