NVW: what changed
NVW
Largest movements
- Tangible fixed assets -€3,350
down €3,350 (-29.2%), from €11,476 to €8,126
of which Furniture and vehicles: -€4,327
- Receivables within one year -€652
down €652 (-23.5%), from €2,771 to €2,118
of which Trade receivables: -€423
- Cash -€644
down €644 (-78.6%), from €819 to €175
mainly Net result for the year (-€5,931) and Investment in fixed assets (net) (-€1,020)
- Deferred charges and accrued income -€154
down €154 (-64.3%), from €240 to €86
- Profit (loss) carried forward -€5,931
down €5,931 (-49.5%), from -€11,993 to -€17,924
- Other debts +€1,238
up €1,238 (+31.6%), from €3,920 to €5,158
- Gross operating margin -€9,966
down €9,966, from €8,917 to -€1,048
- Depreciation +€2,864
up €2,864 (+190%), from €1,506 to €4,370
- Taxes -€1,036
down €1,036 (-89.0%), from €1,164 to €128
- Other operating charges +€183
up €183 (+124%), from €148 to €331
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,306 | €10,505 | -€4,800 | -31.4% |
| Fixed assets | 21/28 | €11,476 | €8,126 | -€3,350 | -29.2% |
| Tangible fixed assets | 22/27 | €11,476 | €8,126 | -€3,350 | -29.2% |
| Plant, machinery and equipment | 23 | - | €977 | +€977 | |
| Furniture and vehicles | 24 | €11,476 | €7,149 | -€4,327 | -37.7% |
| Current assets | 29/58 | €3,830 | €2,379 | -€1,450 | -37.9% |
| Amounts receivable within one year | 40/41 | €2,771 | €2,118 | -€652 | -23.5% |
| Trade receivables | 40 | €2,360 | €1,937 | -€423 | -17.9% |
| Other amounts receivable | 41 | €411 | €182 | -€229 | -55.7% |
| Cash at bank and in hand | 54/58 | €819 | €175 | -€644 | -78.6% |
| Deferred charges and accrued income | 490/1 | €240 | €86 | -€154 | -64.3% |
| Total equity and liabilities | 10/49 | €15,306 | €10,505 | -€4,800 | -31.4% |
| Equity | 10/15 | €8,007 | €2,076 | -€5,931 | -74.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,993 | -€17,924 | -€5,931 | -49.5% |
| Amounts payable | 17/49 | €7,298 | €8,430 | +€1,131 | +15.5% |
| Amounts payable within one year | 42/48 | €7,298 | €8,430 | +€1,131 | +15.5% |
| Trade debts | 44 | €2,084 | €1,943 | -€141 | -6.7% |
| Suppliers | 440/4 | €2,084 | €1,943 | -€141 | -6.7% |
| Taxes, remuneration and social security | 45 | €1,295 | €1,328 | +€34 | +2.6% |
| Taxes | 450/3 | €1,295 | €1,328 | +€34 | +2.6% |
| Other amounts payable | 47/48 | €3,920 | €5,158 | +€1,238 | +31.6% |
| Non-recurring operating income | 76A | €333 | €0 | -€333 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,506 | €4,370 | +€2,864 | +190% |
| Other operating charges | 640/8 | €148 | €331 | +€183 | +124% |
| Gross operating margin | 9900 | €8,917 | -€1,048 | -€9,966 | |
| Operating profit (loss) | 9901 | €7,264 | -€5,749 | -€13,013 | |
| Financial income | 75/76B | €32 | €0 | -€32 | -100% |
| Recurring financial income | 75 | €32 | €0 | -€32 | -100% |
| Financial charges | 65/66B | €27 | €54 | +€27 | +100% |
| Recurring financial charges | 65 | €27 | €54 | +€27 | +100% |
| Profit (loss) for the period before taxes | 9903 | €7,268 | -€5,803 | -€13,071 | |
| Income taxes | 67/77 | €1,164 | €128 | -€1,036 | -89.0% |
| Profit (loss) for the period | 9904 | €6,104 | -€5,931 | -€12,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,104 | -€5,931 | -€12,035 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.