NAFFELEC: 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.
NAFFELEC
Largest movements
- Cash +€34,256
up €34,256 (+107.4%), from €31,882 to €66,138
mainly Depreciation (+€20,726) and Accrued charges and deferred income (+€14,429)
- Tangible fixed assets -€15,726
down €15,726 (-67.8%), from €23,198 to €7,472
of which Furniture and vehicles: -€13,633
- Stocks and contracts -€10,540
down €10,540 (-73.5%), from €14,342 to €3,802
- Intangible fixed assets -€5,000
down €5,000 (-32.4%), from €15,417 to €10,417
- Receivables within one year -€3,249
down €3,249 (-37.4%), from €8,677 to €5,428
of which Other amounts receivable: -€1,899
- Accrued charges and deferred income +€14,429
up €14,429 (+10221.4%), from €141 to €14,570
- Tax, wage and social debts -€12,006
down €12,006 (-94.8%), from €12,666 to €660
of which Remuneration and social security: -€9,671
- Trade debts -€3,794
down €3,794 (-69.3%), from €5,479 to €1,685
- Gross operating margin -€25,187
down €25,187 (-45.3%), from €55,660 to €30,472
- Staff costs -€19,683
down €19,683 (-93.3%), from €21,091 to €1,408
- Taxes -€2,217
down €2,217 (-96.9%), from €2,287 to €70
- Other operating charges +€655
up €655 (+73.8%), from €887 to €1,542
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 | €93,815 | €93,257 | -€558 | -0.6% |
| Fixed assets | 21/28 | €38,614 | €17,889 | -€20,726 | -53.7% |
| Intangible fixed assets | 21 | €15,417 | €10,417 | -€5,000 | -32.4% |
| Tangible fixed assets | 22/27 | €23,198 | €7,472 | -€15,726 | -67.8% |
| Plant, machinery and equipment | 23 | €6,323 | €4,231 | -€2,092 | -33.1% |
| Furniture and vehicles | 24 | €16,874 | €3,241 | -€13,633 | -80.8% |
| Current assets | 29/58 | €55,201 | €75,369 | +€20,168 | +36.5% |
| Stocks and contracts in progress | 3 | €14,342 | €3,802 | -€10,540 | -73.5% |
| Stocks | 30/36 | €14,342 | €3,802 | -€10,540 | -73.5% |
| Amounts receivable within one year | 40/41 | €8,677 | €5,428 | -€3,249 | -37.4% |
| Trade receivables | 40 | €1,931 | €581 | -€1,350 | -69.9% |
| Other amounts receivable | 41 | €6,746 | €4,847 | -€1,899 | -28.2% |
| Cash at bank and in hand | 54/58 | €31,882 | €66,138 | +€34,256 | +107.4% |
| Deferred charges and accrued income | 490/1 | €300 | - | -€300 | |
| Total equity and liabilities | 10/49 | €93,815 | €93,257 | -€558 | -0.6% |
| Equity | 10/15 | €75,521 | €76,339 | +€818 | +1.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,369 | €59,369 | = | 0.0% |
| Distributable reserves | 133 | €59,369 | €59,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,151 | €11,969 | +€818 | +7.3% |
| Amounts payable | 17/49 | €18,295 | €16,919 | -€1,376 | -7.5% |
| Amounts payable within one year | 42/48 | €18,153 | €2,349 | -€15,804 | -87.1% |
| Trade debts | 44 | €5,479 | €1,685 | -€3,794 | -69.3% |
| Suppliers | 440/4 | €5,479 | €1,685 | -€3,794 | -69.3% |
| Taxes, remuneration and social security | 45 | €12,666 | €660 | -€12,006 | -94.8% |
| Taxes | 450/3 | €2,786 | €450 | -€2,335 | -83.8% |
| Remuneration and social security | 454/9 | €9,881 | €209 | -€9,671 | -97.9% |
| Other amounts payable | 47/48 | €8 | €5 | -€4 | -42.1% |
| Accrued charges and deferred income | 492/3 | €141 | €14,570 | +€14,429 | +10221.4% |
| Remuneration, social security and pensions | 62 | €21,091 | €1,408 | -€19,683 | -93.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,725 | €20,726 | +€0 | 0.0% |
| Other operating charges | 640/8 | €887 | €1,542 | +€655 | +73.8% |
| Gross operating margin | 9900 | €55,660 | €30,472 | -€25,187 | -45.3% |
| Operating profit (loss) | 9901 | €12,956 | €6,797 | -€6,159 | -47.5% |
| Financial income | 75/76B | €664 | €235 | -€429 | -64.7% |
| Recurring financial income | 75 | €664 | €235 | -€429 | -64.7% |
| Financial charges | 65/66B | €181 | €144 | -€37 | -20.6% |
| Recurring financial charges | 65 | €181 | €144 | -€37 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €13,439 | €6,888 | -€6,551 | -48.7% |
| Income taxes | 67/77 | €2,287 | €70 | -€2,217 | -96.9% |
| Profit (loss) for the period | 9904 | €11,151 | €6,818 | -€4,334 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,151 | €6,818 | -€4,334 | -38.9% |
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.