NABRO: what changed
Two fiscal 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.
NABRO
Largest movements
- Deferred charges and accrued income -€58,657
down €58,657 (-98.9%), from €59,319 to €662
- Stocks and contracts +€35,000
new in 2025: €35,000
- Receivables within one year -€20,898
no longer reported in 2025 (was €20,898)
- Other debts +€56,676
up €56,676 (+31.3%), from €180,910 to €237,586
- Profit (loss) carried forward -€44,400
down €44,400 (-16.1%), from -€275,202 to -€319,602
- Trade debts -€37,836
down €37,836 (-81.8%), from €46,242 to €8,406
- Advances received -€24,365
down €24,365 (-41.5%), from €58,760 to €34,395
- Tax, wage and social debts +€7,905
up €7,905 (+218.2%), from €3,622 to €11,527
of which Taxes: +€9,628
- Gross operating margin +€26,991
up €26,991 (+64.8%), from €41,652 to €68,643
- Financial income -€12,755
down €12,755 (-98.7%), from €12,919 to €164
of which Non-recurring financial income: -€12,607
- Staff costs -€5,167
down €5,167 (-4.8%), from €108,530 to €103,363
- Financial charges +€4,419
up €4,419 (+259.9%), from €1,700 to €6,119
- Other operating charges -€1,203
down €1,203 (-25.7%), from €4,678 to €3,475
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,544 | €35,739 | -€44,805 | -55.6% |
| Fixed assets | 21/28 | €327 | €77 | -€250 | -76.5% |
| Tangible fixed assets | 22/27 | €250 | - | -€250 | |
| Furniture and vehicles | 24 | €250 | - | -€250 | |
| Financial fixed assets | 28 | €77 | €77 | = | 0.0% |
| Current assets | 29/58 | €80,217 | €35,662 | -€44,555 | -55.5% |
| Stocks and contracts in progress | 3 | - | €35,000 | +€35,000 | |
| Stocks | 30/36 | - | €35,000 | +€35,000 | |
| Amounts receivable within one year | 40/41 | €20,898 | - | -€20,898 | |
| Other amounts receivable | 41 | €20,898 | - | -€20,898 | |
| Deferred charges and accrued income | 490/1 | €59,319 | €662 | -€58,657 | -98.9% |
| Total equity and liabilities | 10/49 | €80,544 | €35,739 | -€44,805 | -55.6% |
| Equity | 10/15 | -€255,912 | -€300,312 | -€44,400 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €690 | €690 | = | 0.0% |
| Non-distributable reserves | 130/1 | €690 | €690 | = | 0.0% |
| Reserves not available under the articles | 1311 | €690 | €690 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€275,202 | -€319,602 | -€44,400 | -16.1% |
| Amounts payable | 17/49 | €336,456 | €336,051 | -€405 | -0.1% |
| Amounts payable after more than one year | 17 | €23,575 | €22,703 | -€872 | -3.7% |
| Financial debts | 170/4 | €23,575 | €22,703 | -€872 | -3.7% |
| Amounts payable within one year | 42/48 | €305,885 | €309,471 | +€3,586 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €3,527 | €3,551 | +€24 | +0.7% |
| Financial debts | 43 | €12,824 | €14,006 | +€1,182 | +9.2% |
| Credit institutions | 430/8 | €12,824 | €14,006 | +€1,182 | +9.2% |
| Trade debts | 44 | €46,242 | €8,406 | -€37,836 | -81.8% |
| Suppliers | 440/4 | €46,242 | €8,406 | -€37,836 | -81.8% |
| Advances received on contracts in progress | 46 | €58,760 | €34,395 | -€24,365 | -41.5% |
| Taxes, remuneration and social security | 45 | €3,622 | €11,527 | +€7,905 | +218.2% |
| Taxes | 450/3 | - | €9,628 | +€9,628 | |
| Remuneration and social security | 454/9 | €3,622 | €1,899 | -€1,723 | -47.6% |
| Other amounts payable | 47/48 | €180,910 | €237,586 | +€56,676 | +31.3% |
| Accrued charges and deferred income | 492/3 | €6,996 | €3,877 | -€3,119 | -44.6% |
| Non-recurring operating income | 76A | - | €3,820 | +€3,820 | |
| Remuneration, social security and pensions | 62 | €108,530 | €103,363 | -€5,167 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250 | €250 | = | 0.0% |
| Other operating charges | 640/8 | €4,678 | €3,475 | -€1,203 | -25.7% |
| Gross operating margin | 9900 | €41,652 | €68,643 | +€26,991 | +64.8% |
| Operating profit (loss) | 9901 | -€71,806 | -€38,445 | +€33,361 | +46.5% |
| Financial income | 75/76B | €12,919 | €164 | -€12,755 | -98.7% |
| Recurring financial income | 75 | €312 | €164 | -€148 | -47.4% |
| Non-recurring financial income | 76B | €12,607 | - | -€12,607 | |
| Financial charges | 65/66B | €1,700 | €6,119 | +€4,419 | +259.9% |
| Recurring financial charges | 65 | €1,700 | €6,119 | +€4,419 | +259.9% |
| Profit (loss) for the period before taxes | 9903 | -€60,587 | -€44,400 | +€16,187 | +26.7% |
| Profit (loss) for the period | 9904 | -€60,587 | -€44,400 | +€16,187 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,587 | -€44,400 | +€16,187 | +26.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.