Nyew Research: 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.
Nyew Research
Largest movements
- Receivables within one year +€64,692
up €64,692 (+125.1%), from €51,713 to €116,404
of which Other amounts receivable: +€55,202
- Cash -€14,014
down €14,014 (-80.2%), from €17,482 to €3,468
mainly Receivables within one year (-€64,692) and Tax, wage and social debts (-€1,665)
- Current investments +€1,654
new in 2025: €1,654
- Reserves +€50,092
up €50,092 (+119.0%), from €42,080 to €92,172
- Trade debts +€3,905
up €3,905 (+210.3%), from €1,857 to €5,762
- Tax, wage and social debts -€1,665
down €1,665 (-7.2%), from €23,258 to €21,593
- Gross operating margin +€23,450
up €23,450 (+59.4%), from €39,463 to €62,913
- Taxes +€5,049
up €5,049 (+61.1%), from €8,258 to €13,307
- Financial income +€3,066
up €3,066 (+249.6%), from €1,228 to €4,295
- Other operating charges +€1,496
up €1,496 (+129.8%), from €1,153 to €2,649
- Financial charges +€1,056
up €1,056 (+1016.6%), from €104 to €1,160
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 | €69,195 | €121,526 | +€52,331 | +75.6% |
| Current assets | 29/58 | €69,195 | €121,526 | +€52,331 | +75.6% |
| Amounts receivable within one year | 40/41 | €51,713 | €116,404 | +€64,692 | +125.1% |
| Trade receivables | 40 | - | €9,490 | +€9,490 | |
| Other amounts receivable | 41 | €51,713 | €106,915 | +€55,202 | +106.7% |
| Current investments | 50/53 | - | €1,654 | +€1,654 | |
| Cash at bank and in hand | 54/58 | €17,482 | €3,468 | -€14,014 | -80.2% |
| Total equity and liabilities | 10/49 | €69,195 | €121,526 | +€52,331 | +75.6% |
| Equity | 10/15 | €44,080 | €94,172 | +€50,092 | +113.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €42,080 | €92,172 | +€50,092 | +119.0% |
| Distributable reserves | 133 | €42,080 | €92,172 | +€50,092 | +119.0% |
| Amounts payable | 17/49 | €25,115 | €27,354 | +€2,240 | +8.9% |
| Amounts payable within one year | 42/48 | €25,115 | €27,354 | +€2,240 | +8.9% |
| Trade debts | 44 | €1,857 | €5,762 | +€3,905 | +210.3% |
| Suppliers | 440/4 | €1,857 | €5,762 | +€3,905 | +210.3% |
| Taxes, remuneration and social security | 45 | €23,258 | €21,593 | -€1,665 | -7.2% |
| Taxes | 450/3 | €23,258 | €21,593 | -€1,665 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €319 | - | -€319 | |
| Other operating charges | 640/8 | €1,153 | €2,649 | +€1,496 | +129.8% |
| Gross operating margin | 9900 | €39,463 | €62,913 | +€23,450 | +59.4% |
| Operating profit (loss) | 9901 | €37,991 | €60,264 | +€22,273 | +58.6% |
| Financial income | 75/76B | €1,228 | €4,295 | +€3,066 | +249.6% |
| Recurring financial income | 75 | €1,228 | €4,295 | +€3,066 | +249.6% |
| Financial charges | 65/66B | €104 | €1,160 | +€1,056 | +1016.6% |
| Recurring financial charges | 65 | €104 | €1,160 | +€1,056 | +1016.6% |
| Profit (loss) for the period before taxes | 9903 | €39,116 | €63,399 | +€24,283 | +62.1% |
| Income taxes | 67/77 | €8,258 | €13,307 | +€5,049 | +61.1% |
| Profit (loss) for the period | 9904 | €30,858 | €50,092 | +€19,234 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,858 | €50,092 | +€19,234 | +62.3% |
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 10 October 2026 via checked.be.