NAFRA: 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.
NAFRA
Largest movements
- Cash -€4,585
down €4,585 (-57.5%), from €7,969 to €3,384
mainly Net result for the year (-€10,195) and Tax, wage and social debts (-€1,395)
- Stocks and contracts -€505
down €505 (-3.7%), from €13,668 to €13,163
- Receivables within one year +€463
up €463 (+83.8%), from €552 to €1,015
- Tangible fixed assets -€295
down €295 (-69.3%), from €426 to €131
- Deferred charges and accrued income -€272
down €272 (-11.7%), from €2,314 to €2,043
- Profit (loss) carried forward -€10,195
down €10,195 (-14.4%), from -€71,006 to -€81,201
- Other debts +€6,642
up €6,642 (+8.8%), from €75,099 to €81,741
- Tax, wage and social debts -€1,395
down €1,395 (-94.6%), from €1,475 to €80
- Gross operating margin -€8,957
down €8,957, from €257 to -€8,700
- Taxes +€497
up €497, from -€247 to €250
- Other operating charges +€106
up €106 (+13.0%), from €812 to €917
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 | €24,930 | €19,735 | -€5,195 | -20.8% |
| Fixed assets | 21/28 | €426 | €131 | -€295 | -69.3% |
| Tangible fixed assets | 22/27 | €426 | €131 | -€295 | -69.3% |
| Plant, machinery and equipment | 23 | €426 | €131 | -€295 | -69.3% |
| Current assets | 29/58 | €24,504 | €19,604 | -€4,899 | -20.0% |
| Stocks and contracts in progress | 3 | €13,668 | €13,163 | -€505 | -3.7% |
| Stocks | 30/36 | €13,668 | €13,163 | -€505 | -3.7% |
| Amounts receivable within one year | 40/41 | €552 | €1,015 | +€463 | +83.8% |
| Other amounts receivable | 41 | €552 | €1,015 | +€463 | +83.8% |
| Cash at bank and in hand | 54/58 | €7,969 | €3,384 | -€4,585 | -57.5% |
| Deferred charges and accrued income | 490/1 | €2,314 | €2,043 | -€272 | -11.7% |
| Total equity and liabilities | 10/49 | €24,930 | €19,735 | -€5,195 | -20.8% |
| Equity | 10/15 | -€52,414 | -€62,609 | -€10,195 | -19.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,006 | -€81,201 | -€10,195 | -14.4% |
| Amounts payable | 17/49 | €77,344 | €82,344 | +€5,000 | +6.5% |
| Amounts payable within one year | 42/48 | €77,337 | €82,344 | +€5,008 | +6.5% |
| Trade debts | 44 | €763 | €523 | -€239 | -31.4% |
| Suppliers | 440/4 | €763 | €523 | -€239 | -31.4% |
| Taxes, remuneration and social security | 45 | €1,475 | €80 | -€1,395 | -94.6% |
| Taxes | 450/3 | €1,475 | €80 | -€1,395 | -94.6% |
| Other amounts payable | 47/48 | €75,099 | €81,741 | +€6,642 | +8.8% |
| Accrued charges and deferred income | 492/3 | €7 | €0 | -€7 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €349 | €295 | -€54 | -15.4% |
| Other operating charges | 640/8 | €812 | €917 | +€106 | +13.0% |
| Gross operating margin | 9900 | €257 | -€8,700 | -€8,957 | |
| Operating profit (loss) | 9901 | -€904 | -€9,913 | -€9,009 | -996.8% |
| Financial income | 75/76B | €89 | €9 | -€80 | -90.4% |
| Recurring financial income | 75 | €89 | €9 | -€80 | -90.4% |
| Financial charges | 65/66B | €89 | €40 | -€49 | -54.8% |
| Recurring financial charges | 65 | €89 | €40 | -€49 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | -€904 | -€9,945 | -€9,041 | -999.6% |
| Income taxes | 67/77 | -€247 | €250 | +€497 | |
| Profit (loss) for the period | 9904 | -€658 | -€10,195 | -€9,537 | -1450.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€658 | -€10,195 | -€9,537 | -1450.4% |
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 2 October 2026 via checked.be.