KATNAV: 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.
KATNAV
Largest movements
- Financial fixed assets -€70,000
no longer reported in 2025 (was €70,000)
- Tangible fixed assets -€9,455
down €9,455 (-23.4%), from €40,416 to €30,961
of which Land and buildings: -€6,000
- Other debts -€53,472
down €53,472 (-39.1%), from €136,705 to €83,233
- Profit (loss) carried forward -€17,073
down €17,073 (-8.2%), from -€209,203 to -€226,275
- Debts after one year -€8,917
down €8,917 (-21.8%), from €40,851 to €31,933
- Trade debts -€1,735
down €1,735 (-60.3%), from €2,878 to €1,143
- Gross operating margin -€18,268
down €18,268, from €12,817 to -€5,451
- Other operating charges -€3,207
down €3,207 (-82.0%), from €3,910 to €703
- Financial charges -€242
down €242 (-19.7%), from €1,228 to €985
- Taxes +€177
up €177 (+59.0%), from €301 to €478
- Depreciation +€146
up €146 (+1.6%), from €9,309 to €9,455
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 | €125,031 | €44,258 | -€80,773 | -64.6% |
| Fixed assets | 21/28 | €110,416 | €30,961 | -€79,455 | -72.0% |
| Tangible fixed assets | 22/27 | €40,416 | €30,961 | -€9,455 | -23.4% |
| Land and buildings | 22 | €30,000 | €24,000 | -€6,000 | -20.0% |
| Furniture and vehicles | 24 | €10,416 | €6,961 | -€3,455 | -33.2% |
| Financial fixed assets | 28 | €70,000 | - | -€70,000 | |
| Current assets | 29/58 | €14,615 | €13,297 | -€1,318 | -9.0% |
| Amounts receivable within one year | 40/41 | €3,531 | €3,729 | +€197 | +5.6% |
| Trade receivables | 40 | €3,431 | €3,431 | = | 0.0% |
| Other amounts receivable | 41 | €100 | €298 | +€197 | +196.6% |
| Cash at bank and in hand | 54/58 | €10,679 | €9,568 | -€1,111 | -10.4% |
| Deferred charges and accrued income | 490/1 | €405 | - | -€405 | |
| Total equity and liabilities | 10/49 | €125,031 | €44,258 | -€80,773 | -64.6% |
| Equity | 10/15 | -€64,433 | -€81,506 | -€17,073 | -26.5% |
| Contributions | 10/11 | €133,371 | €133,371 | = | 0.0% |
| Reserves | 13 | €11,399 | €11,399 | = | 0.0% |
| Distributable reserves | 133 | €11,399 | €11,399 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,203 | -€226,275 | -€17,073 | -8.2% |
| Amounts payable | 17/49 | €189,464 | €125,764 | -€63,700 | -33.6% |
| Amounts payable after more than one year | 17 | €40,851 | €31,933 | -€8,917 | -21.8% |
| Financial debts | 170/4 | €40,851 | €31,933 | -€8,917 | -21.8% |
| Amounts payable within one year | 42/48 | €148,614 | €93,831 | -€54,783 | -36.9% |
| Financial debts | 43 | €8,731 | €8,917 | +€187 | +2.1% |
| Credit institutions | 430/8 | €8,731 | €8,917 | +€187 | +2.1% |
| Trade debts | 44 | €2,878 | €1,143 | -€1,735 | -60.3% |
| Suppliers | 440/4 | €2,878 | €1,143 | -€1,735 | -60.3% |
| Taxes, remuneration and social security | 45 | €301 | €538 | +€237 | +79.0% |
| Taxes | 450/3 | €301 | €538 | +€237 | +79.0% |
| Other amounts payable | 47/48 | €136,705 | €83,233 | -€53,472 | -39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,309 | €9,455 | +€146 | +1.6% |
| Other operating charges | 640/8 | €3,910 | €703 | -€3,207 | -82.0% |
| Gross operating margin | 9900 | €12,817 | -€5,451 | -€18,268 | |
| Operating profit (loss) | 9901 | -€402 | -€15,609 | -€15,207 | -3783.1% |
| Financial charges | 65/66B | €1,228 | €985 | -€242 | -19.7% |
| Recurring financial charges | 65 | €1,228 | €985 | -€242 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,630 | -€16,595 | -€14,965 | -918.4% |
| Income taxes | 67/77 | €301 | €478 | +€177 | +59.0% |
| Profit (loss) for the period | 9904 | -€1,930 | -€17,073 | -€15,143 | -784.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,930 | -€17,073 | -€15,143 | -784.5% |
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 9 October 2026 via checked.be.