Adrien NAVEZ: 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.
Adrien NAVEZ
Largest movements
- Cash +€22,966
up €22,966 (+37.6%), from €61,066 to €84,032
mainly Net result for the year (+€32,997) and Tax, wage and social debts (+€4,211)
- Receivables within one year +€9,340
up €9,340 (+296%), from €3,160 to €12,500
- Profit (loss) carried forward +€32,997
up €32,997 (+96.9%), from €34,050 to €67,047
- Tax, wage and social debts +€4,211
up €4,211 (+30.8%), from €13,694 to €17,905
- Trade debts -€3,444
down €3,444 (-82.5%), from €4,172 to €729
- Gross operating margin +€28,073
up €28,073 (+195%), from €14,372 to €42,445
- Taxes +€5,674
up €5,674 (+182%), from €3,121 to €8,795
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 | €64,433 | €97,365 | +€32,932 | +51.1% |
| Fixed assets | 21/28 | €208 | €833 | +€626 | +301% |
| Tangible fixed assets | 22/27 | €208 | €833 | +€626 | +301% |
| Furniture and vehicles | 24 | €208 | €833 | +€626 | +301% |
| Current assets | 29/58 | €64,225 | €96,532 | +€32,306 | +50.3% |
| Amounts receivable within one year | 40/41 | €3,160 | €12,500 | +€9,340 | +296% |
| Trade receivables | 40 | €3,160 | €12,500 | +€9,340 | +296% |
| Cash at bank and in hand | 54/58 | €61,066 | €84,032 | +€22,966 | +37.6% |
| Total equity and liabilities | 10/49 | €64,433 | €97,365 | +€32,932 | +51.1% |
| Equity | 10/15 | €35,050 | €68,047 | +€32,997 | +94.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,050 | €67,047 | +€32,997 | +96.9% |
| Amounts payable | 17/49 | €29,383 | €29,318 | -€65 | -0.2% |
| Amounts payable within one year | 42/48 | €29,383 | €29,318 | -€65 | -0.2% |
| Trade debts | 44 | €4,172 | €729 | -€3,444 | -82.5% |
| Suppliers | 440/4 | €4,172 | €729 | -€3,444 | -82.5% |
| Taxes, remuneration and social security | 45 | €13,694 | €17,905 | +€4,211 | +30.8% |
| Taxes | 450/3 | €13,694 | €17,905 | +€4,211 | +30.8% |
| Other amounts payable | 47/48 | €11,517 | €10,684 | -€833 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11 | €103 | +€92 | +826% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €14,372 | €42,445 | +€28,073 | +195% |
| Operating profit (loss) | 9901 | €14,361 | €41,942 | +€27,581 | +192% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €14,226 | €41,792 | +€27,566 | +194% |
| Income taxes | 67/77 | €3,121 | €8,795 | +€5,674 | +182% |
| Profit (loss) for the period | 9904 | €11,105 | €32,997 | +€21,892 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €11,105 | €32,997 | +€21,892 | +197% |
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 14 October 2026 via checked.be.